Notes to the Consolidated And Separate Annual Financial Statements | Note 14

14. Share capital
 
    Group   Company  
     
2022 
R'000 		 2021 
R'000 		 2022 
R'000 		 2021 
R'000 
Authorised             
3 500 000 000 ordinary shares of 1 cent each  35,000  35,000  35,000  35,000 
Issued and fully paid             
2 499 126 870 (2021: 2 499 126 870) ordinary shares of 1 cent each  24,991  25,107  24,991  25,107 
Delisting and cancellation of ordinary shares  —  (116) —  (116)
Total issued share capital  24,991  24,991  24,991  24,991 
Share premium             
Balance at the beginning of year  1,263,885  1,269,575  1,263,885  1,269,575 
Delisting and cancellation of ordinary shares  —  (5,690) —  (5,690)
Balance at end of year  1,263,885  1,263,885  1,263,885  1,263,885 
              
Total issued share capital and premium  1,288,876  1,288,876  1,288,876  1,288,876 

All ordinary shares have equal voting rights. There are no restrictions on the distribution of dividends or repayment of capital in terms of the memorandum of incorporation of the Company.

The company acquired 11 577 378 ordinary shares in the open market pursuant to a share repurchase programme between 19 January 2021 and 5 May 2021. The shares were acquired at an average price of 49 cents, with prices ranging from 43 cents to 60 cents. The total costs of R 5.8m, including R 32k after-tax transaction costs, was deducted from share capital.

The subsequent delisting and cancellation of the 11 577 378 ordinary shares, as approved by the JSE Limited, was effected on 18 August 2021. The cancelled shares represent 0.46% of the issued share capital of the Company immediately prior cancellation. The share repurchase programme was suspended on 26 November 2021.