14.

Stated capital

2018 R000   2017 R000   Authorised              500 000 000 no par value ordinary shares (2017: 500 000 000)             Issued              255 894 516 no par value ordinary shares (2017: 248 441 278) 8 462 327     7 683 651        243 256 092 – no par value ordinary shares (2017: 243 256 092) 7 683 651     6 987 996        7 453 238 (2017: 5 185 186) no par value ordinary shares – issued during the year  778 676     695 655     No par value ordinary treasury shares in issue(1) (43 425)    (35 435)       387 246 – no par value ordinary treasury shares – 1 July (2017: 410 659) (35 435)    (38 857)       155 000 shares purchased (2017: 77 000)(2) (18 162)    (8 974)       95 986 shares vested during the year (2017: 100 413) 10 174     12 396     Balance – issued stated capital at end of the year  8 418 904     7 648 216     Reconciliation – number of shares in issue              Ordinary shares in issue  255 894 516     248 441 278        Balance – 1 July 2017  248 441 278     243 256 092        Issued during the year  7 453 238     5 185 186     Treasury shares in issue(1)  (446 260)    (387 246)       Balance – 1 July 2017  (387 246)    (410 659)       Purchased during the year(2)  (155 000)    (77 000)       Vested during the year  95 986     100 413     Balance at end of the year  255 448 256     248 054 032     (1) Shares are held in treasury to hedge the company’s obligations in terms of the long-term Hyprop Employee Incentive Scheme (conditional share plan (CUP)). Refer to note 25 – Employee remuneration (2) Purchased during the year by Hyprop Investments Employee Incentive Scheme Proprietary Limited