Notes to the Group Annual Financial Statements | Note 6.1

6. EQUITY
6.1 Share capital

Ordinary shares are classified as equity and the shares are fully paid up.

Shares acquired by Blue Label Telecoms Limited for its own employees' equity compensation benefit scheme, as well as the shares procured by the subsidiaries in terms of this scheme, are accounted for as treasury shares in the Group statement of financial position.
2025 
Number 
of shares 		 2024 
Number 
of shares 
Authorised 
Total authorised share capital of ordinary shares (no par value) 2 000 000 000  2 000 000 000 
Issued 
Balance at the beginning of the year  896 332 570  883 573 392 
Shares (acquired)/sold during the year   (190 765) 64 716 
Shares vested during the year   3 014 702  12 694 462 
Balance at the end of the year  899 156 506  896 332 570 
Total number of shares in issue  913 655 874  913 655 874 
Treasury shares  (14 499 368) (17 323 304)
The Group acquired 190 765 shares from associate companies for R1.2 million in the current year that were forfeited in terms of the equity-settled conditional share plan, at which point the shares became treasury shares of the Group. In the prior year the Group sold 64 716 shares to associate companies for R0.2 million in terms of the equity-settled conditional share plan, at which point the shares were no longer considered to be treasury shares of the Group.
Refer to note 5.1 for details on the conditional shares.