NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS – NOTE 10

    2015
Number
of shares		       2014
Number
of shares		   2015
R’000		       2014
R'000		  
10. SHARE CAPITAL                        
  Authorised                        
  Total authorised share capital of ordinary shares (par value of R0.000001 each) 1 000 000 000       1 000 000 000   1       1  
  Issued                        
  Balance at the beginning of the year 663 896 358       661 635 258   *       *  
  Shares acquired during the year (2 252 420)       (1 368 822)   *       *  
  Shares vested during the year – Blue Label Telecoms Limited 1 811 995       1 817 292   *       *  
  Shares vested during the year – Blue Label Telecoms Limited subsidiaries 2 007 413       1 812 630   *       *  
  Balance at the end of the year 665 463 346       663 896 358   *       *  
  * Less than R1 000.

All issued shares are fully paid up.

The total number of shares in issue, including shares held as treasury shares as at 31 May 2015, is 674 509 042 (2014: 674 509 042).

The Company acquired 2 252 420 (2014: 1 368 822 ) shares at an average price of R8.49 (2014: R8.12) on the JSE in order to grant forfeitable shares to employees and Directors.

The amount paid to acquire these shares was R19 131 983 (2014: R11 120 071) and has been deducted from shareholders’ equity.

These shares are held as “treasury shares”. Refer to note 11 for details on the forfeitable shares.

NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS – NOTE 10