AFRICAN DAWN ANNUAL REPORT 2017 Notes to the Financial Statements Annual Financial Statements For the year ended 28 February 2017 continued 63 13. Cash and cash equivalents Cash and cash equivalents consist of: 2017 2016 2017 2016 R’000 R’000 R’000 R’000 Cash on hand 100 192 - - Bank balances 1,883 2,813 78 788 1,983 3,005 78 788 14. Shares and share premium Authorised Group Company shares shares shares shares 125,000,000 Ordinary shares of 40c each 50,000,000 50,000,000* 50,000,000 50,000,000* * On the 29 November 2016 the share were consolidated from 5,000,000,000 shares of 1c to 125,000,000 shares of 40c. The total shares in issue as at 28 February 2017 amounted to 21,925,057 (2016: 877,002,273*). 2017 2016 2017 2016 Reconciliation of number of shares in issue R’000 R’000 R’000 R’000 Reported as at 01 March 877,002 880,270 877,002 880,270 Treasury shares cancelled - (3,268) - (3,268) Share consolidation @ 1 share per 40 held (855,077) - (855,077) - 21,925 877,002 21,925 877,002 Reconciliation of share values ‘R000: Reported at beginning of period 313,943 313,943 313,943 313,943 Reported at the end of the period 313,943 313,943 313,943 313,943 Treasury shares cancelled 305,140 305,140 305,140 305,140 Share consolidation @ 1 share per 40 held 8,803 8,803 8,803 8,803 313,943 313,943 313,943 313,943 The board undertook to consolidate the shares in issue in order to improve the tradability. The consolidation was completed at 1 share for every 40 share held on 29 November 2016. As a result of the Payment of Fractions, fractional shares amounting in total to 29 shares were not consolidated in terms of the Consolidation and therefore paid out.
AFRICAN DAWN 2017
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