18   SHARE CAPITAL
      2018 
R'000 		   2017 
R'000 		  
18.1     AUTHORISED             
      Ordinary Share Capital             
      250 000 000 ordinary shares of 10 cents each  25 000     25 000    
18.2     ISSUED             
      Ordinary Share Capital             
      Opening balance of 171 462 885 ordinary shares of 10 cents each  17 147     17 147    
      Movement of treasury shares  (1)    –    
         17 146     17 147    
      Number of shares
      2018     2017   
18.3     TREASURY SHARES             
      Shares held by Group company             
      – number of ordinary shares  4 291 903     4 285 163    
      Shares bought back and held by a Group company are regarded as treasury shares.             
18.4     RECONCILIATION OF ISSUED SHARES             
      Number of shares in issue  175 748 048     175 748 048    
      Number of ordinary shares held by the Group companies  (4 291 903)    (4 285 163)   
      Net shares in issue  171 456 145     171 462 885    
   

Unissued shares

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.

The Group has a share incentive trust in terms of which shares were issued and share options were granted. Refer to Annexure B. As required by IFRS and the JSE Limited, the share incentive trust is consolidated into the Group’s annual financial tatements.