2020  2019 
23  SHARE CAPITAL AND PREMIUM     
  Authorised share capital     
  500 000 (2019: 500 000) 6% non-redeemable cumulative preference shares of R2 each  1  1 
  400 000 000 (2019: 400 000 000) ordinary shares of 5 cents each  20  20 
    21  21 
  Issued share capital     
  375 000 (2019: 375 000) 6% non-redeemable cumulative preference shares of R2 each  1  1 
  201 025 646 (2019: 212 692 583) ordinary shares of 5 cents each  10  11 
    11  12 
  Share premium  (1 132) 429 
  Balance at beginning of year  429  429 
  Share buy-back and cancel (note 3 below) (1 561)  
       
  Total issued share capital and premium  (1 121) 441 
       
  Issued shares:     
  Number of shares in issue at beginning of year  212 692 583  212 692 583 
  Issued during the year:     
  Share buy-back and cancel (note 3 below) (18 245 058)  
  Total number of ordinary shares in issue at end of year, excluding B-BBEE shares  194 447 525  212 692 583 
  Other shares issued in respect of B-BBEE transaction (note 4 below) 6 578 121   
  Total number of ordinary shares in issue at end of year, including B-BBEE shares  201 025 646  212 692 583 
  Less treasury shares (note 5 below) (1 690 217) (1 423 734)
  Net number of ordinary shares in issue at end of year  199 335 429  211 268 849 
  Unissued shares (note 1 below):     
  Ordinary shares reserved to meet the requirements of the Barloworld Share Option Scheme (note 2 below) 23 129 182  23 129 182 
  Ordinary shares  175 845 172  164 178 235 
    198 974 354  187 307 417 
  6% non-redeemable cumulative preference shares  125 000  125 000 

  Notes:
  1. The directors have no general authority to issue shares.
  2. The shareholders at the general meeting on 20 January 2005 reserved shares for the purpose of the Barloworld Share Option Scheme.
  3. During the year, 18 245 058 shares were repurchased and cancelled as part of the Group’s formal buy-back programme .
  4. At the general meeting of the Company held on 14 February 2019 the Groups’ B-BBEE transaction Khula Sizwe was approved. During the year, 6 578 121 shares were issued during the year to the Barloworld Empowerment Foundation. There were no costs incurred in issuing these shares.

5.  Reconciliation of Treasury shares:     
  Balance on 1 October  1 423 734  1 570 042 
  Acquisition of shares for employee share-based scheme  1 268 300  861 410 
  Shares vested and exercised  (606 304) (887 788)
  Shares lapsed in terms of the employee share scheme  (395 513) (119 930)
  Balance on 30 September  1 690 217  1 423 734 

 

The directors have a general authority to buy back up to 10% of the ordinary shares issued by the Company.

There are no rights preferences or restrictions on the ordinary shares in issue with the exception of those shares issued to the Barloworld Empowerment Foundation (note 4 above) where any sale of these shares must first be approved by Barloworld management. Preference shares have rights to fixed dividend payments at each interim and year end.