Integrated report 2019
Exxaro Resources Limited
Group and company annual financial statements
for the year ended 31 December 2019
12.2.1 ACCOUNTING POLICY RELATING TO SHARE CAPITAL
Where any company within the Exxaro group of companies purchase Exxaro shares (treasury shares), the consideration paid, including any directly attributable incremental costs (net of income taxes) is deducted from equity attributable to the group’s equity holders until the shares are cancelled or reissued. Where such ordinary shares are subsequently reissued, any consideration received, net of any directly attributable incremental costs and the related income tax effects, is included in equity attributable to the group’s equity holders.
The shares are listed on the JSE, with one vote per share, and shareholders are entitled to dividends declared from time to time.
12.2.2 SHARE CAPITAL
| Group | Company | |||||||
| At 31 December | 2019 Rm |
2018 Rm |
2019 Rm |
2018 Rm |
||||
|---|---|---|---|---|---|---|---|---|
| Authorised | ||||||||
| 500 000 000 (2018: 500 000 000) ordinary shares of R0.01 each1 | 5 | 5 | 5 | 5 | ||||
| Issued and fully paid | ||||||||
| 358 706 754 (2018: 358 706 754) ordinary shares of R0.01 each1 | 4 | 4 | 4 | 4 | ||||
| Share premium | 11 261 | 11 261 | 11 261 | 11 261 | ||||
| Treasury shares held by Eyesizwe2 | (10 242) | (10 242) | ||||||
| Treasury shares held by Kumba Resources Management | ||||||||
| Share Trust2 | (2) | (2) | ||||||
| Total | 1 021 | 1 021 | 11 265 | 11 265 | ||||
| 1 | The authorised unissued ordinary shares have remained unchanged at 141 293 246 shares. |
| 2 | These entities have been consolidated. |
| Group | ||||
| Number of shares | ||||
| Treasury shares in issue | 2019 | 2018 | ||
|---|---|---|---|---|
| Held by Kumba Resources Management Share Trust | 158 218 | 158 218 | ||
| Held by Eyesizwe | 107 612 026 | 107 612 026 | ||
| Treasury shares in issue at end of the year | 107 770 244 | 107 770 244 | ||
Exxaro’s issued ordinary shares, net of treasury shares were 250 936 510 on 31 December 2019 (2018: 250 936 510). Refer to the notice of the AGM in the summarised group annual financial statements for the year ended 31 December 2019 and notice of the AGM for resolutions pertaining to the unissued ordinary shares under the control of the directors until the forthcoming AGM.
Exxaro has no unlisted securities.
12.2.3 SHARE REPURCHASES
Exxaro had no share repurchase transactions during 2019 or 2018.
