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2015
R’000 |
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| G.1 |
AUTHORISED |
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Ordinary share capital |
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250 000 000 ordinary shares of 10 cents each |
25 000 |
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25 000 |
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19 458 196 A shares of 10 cents each |
–
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1 946 |
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6 486 065 B shares of 10 cents each |
– |
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649 |
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The terms and conditions of the A and B ordinary shares were that:
A and B ordinary shares ranked pari passu with the ordinary shares, save that:
| (i) |
these A and B ordinary shareholders could not participate in any special dividends declared or paid by the Company, unless the respective notional outstanding loan balances had become zero at any time prior to the respective release dates, in which event these A and B ordinary shares would have been entitled to participate in all special dividends declared or paid by the Company; |
| (ii) |
A and B ordinary shares would remain certificated and would not be listed on any stock exchange; |
| (iii) |
for so long as the ordinary shares were listed on the JSE, the rights attaching to these A and B ordinary shares could not be amended in any material respect without the prior written approval of the JSE; and |
| (iv) |
these terms and conditions could only be amended as prescribed by sections 43 and 44 of the Memorandum of Incorporation of the Company. |
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| G.2 |
ISSUED |
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Ordinary share capital |
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Opening balance of 201 685 611 ordinary shares (2015: 201 589 011) of 10 cents each |
20 168 |
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20 158 |
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Repurchase and cancellation of 19 458 196 A shares of 10 cents each |
(1 946) |
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– |
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Repurchase and cancellation of 6 486 065 B shares of 10 cents each |
(649) |
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– |
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Issue of 6 700 ordinary shares of 10 cents each (2015: 96 600 shares) |
1 |
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10 |
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17 574 |
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20 168 |
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6 700 (2015: 96 600) ordinary shares were issued, in various tranches during the year, to meet the
obligations of the Adcock Ingram Holdings Limited Employees Share Trust (2008).
The modified BEE structure was implemented in July 2015. As part of the modification of the old
BEE scheme, the A and B shares were repurchased by the Company for a nominal amount of
R100 and cancelled. For full details of the modified scheme including the share-based expenses
of R20,8 million arising in the current year refer to Annexure B. |
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| G.3 |
UNISSUED SHARES |
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In terms of the Companies Act, the unissued shares are under the control of the directors.
Accordingly, the directors are authorised to allot and issue them on such terms and conditions
and at such times as they deem fit but subject to the provisions of the Companies Act. |
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