Pick n Pay | Integrated Annual Report: Financial Statements - Group of Companies Financial Statements, Notes to the Group Financial Statements

Pick n Pay Group of Companies financial statements

notes to the group financial statements

		Pick n Pay Stores Limited
		52 weeks 1 March 2015 Rm	52 weeks 2 March 2014 Rm
19.	SHARE CAPITAL
	Authorised
	800 000 000 (2014: 800 000 000) ordinary shares of 1.25 cents each	10.0	10.0
	Issued
	487 322 321 (2014: 480 397 321) ordinary shares of 1.25 cents each	6.0	6.0

		000’s	000’s
	The number of shares in issue at end of period is made up as follows:
	Treasury shares held in the share trust (note 20)	1 746.9	1 974.5
	Shares issued under the forfeitable share plan (note 5.3)	6 925.0	—
	Shares held outside the Group	478 650.4	478 422.8
		487 322.3	480 397.3
	The Company can issue new shares to settle its obligations under its employee share schemes, but any issues in this regard are limited, in the aggregate, to 5% of total issued share capital (currently 24 366 116 shares). To date, 9 615 000 shares have been issued, resulting in 14 751 116 shares remaining for this purpose.
	The holders of ordinary shares are entitled to receive dividends as declared and are entitled to one vote per share at meetings of the Company.
	The movement in the number of shares in issue in the current period for Pick n Pay Stores Limited was as a result of 6 925 000 shares issued in June 2014, at an issue price of R57.31 per share to various trading subsidiaries. The subsidiaries then used these shares, during August 2014, in order to meet share obligations under the Group’s new employee forfeitable share plan (FSP), as approved by the shareholders in February 2014. These shares are now held in a nominee account on behalf of the participants. The participants, although benefiting from full voting rights and full rights to any dividends declared, cannot dispose of their shares during a three-year employment period. In addition, the shares are subject to further performance conditions linked to the Pick n Pay Stores Group’s compound annual growth in headline earnings per share. Should the employment conditions or performance conditions not be met, the shares (or portion thereof) are forfeited. The fair value of the shares awarded to participants was R55.59 per share.
	The movement in the number of shares in issue during the current period was solely caused by the above mentioned issue of shares.
	Refer to note 5 for details of share-based payments granted by the Group.
	Refer to the remuneration report for details of directors’ interests in shares.

	Pick n Pay Holdings Limited RF
	52 weeks 1 March 2015 Rm	52 weeks 2 March 2014 Rm
Authorised
800 000 000 (2014: 800 000 000) ordinary shares of 1.25 cents each	10.0	10.0
Issued
527 249 082 (2014: 527 249 082) ordinary shares of 1.25 cents each	6.6	6.6

	000’s	000’s
The number of shares in issue at end of period is made up as follows:
Treasury shares held by share trust and subsidiary (note 20)	11 106.5	11 042.5
Shares held outside the Group	516 142.6	516 206.6
	527 249.1	527 249.1
The Company can issue new shares to settle its obligations under its employee share schemes, but any issues in this regard are limited, in the aggregate, to 5% of total share capital (currently 26 362 454 shares).
The holders of ordinary shares are entitled to receive dividends as declared and are entitled to one vote per share at meetings of the Company.
Refer to note 5 for details of share-based payments granted by the Group.
Refer to the remuneration report for details of directors’ interest in shares.