Notes to the Company financial statements l Note 7

7 ORDINARY SHARE CAPITAL AND SHARE PREMIUM
 

Refer to note 8.1 of the Group financial statements for the applicable accounting policy.

  2015
Number
of shares		   2014
Number
shares		  
Ordinary share capital (par value of 0,01 cents)        
Authorised 2 500 000 000   2 500 000 000  
Issued (fully paid up)  1 845 493 245     1 848 355 889  
In issue at beginning of the year 1 848 355 889   1 873 278 848  
Options exercised and allotted –   72 170  
MTN Zakhele shares cancelled and delisted (2 862 644)   (2 657 377)  
Treasury shares cancelled –   (22 337 752)  
In issue at end of the year 1 845 493 245   1 848 355 889  
Options – MTN Zakhele transaction1 (11 131 098)   (14 492 564)  
Treasury shares2,3 (1 444 172)   (945 350)  
In issue at end of the year – excluding Zakhele transaction2 1 832 917 975   1 832 917 975  
1 Due to the call option over the notional vendor finance shares, these shares, although legally issued to MTN Zakhele, are not deemed to be issued in terms of IFRS and are shown as such in the share capital reconciliation.
2 Treasury shares held by the Company which were delivered to the Company by MTN Zakhele and not delisted as at year end.
3 Additional treasury shares held by MTN Holdings Proprietary Limited, a subsidiary of the Group, are excluded from this reconciliation. Refer to note 8.1 of the Group financial statements.
  2015
Rm		   2014
Rm		  
Share capital        
Balance at beginning of the year   *     *  
Options exercised –   *  
Shares cancelled (*)   (*)  
Share buy-back (*)   –  
Balance at end of the year *   *  
Share premium   40 502     45 616  
Balance at beginning of the year        
Options exercised –   3  
Share buy-back –   (5 117)  
Balance at end of the year 40 502   40 502  

During 2014, the Company acquired 22 337 752 shares from MTN Holdings Proprietary Limited. The total amount paid to acquire the shares, inclusive of transaction costs was R5 117 million.

* Amounts less than R1 million.