for the year ended 31 March 2011
Restated |
2011 |
|
|---|---|---|
Rm |
Rm |
|
| Treasury shares | (1,171) | (771) |
| The reserve represents amounts paid by Telkom to Rossal No 65 (Proprietary) Limited and Acajou Investments (Proprietary) Limited, subsidiaries for the acquisition of Telkom's shares to be utilised in terms of the Telkom Conditional Share Plan ('TCSP').The TCSP was closed in June 2010. The future use of the remaining shares is subject to managment review. | ||
| At 31 March 2011, 2,002,055 (2010: 7,143,700) and 8,143,556 (2010: 8,143,556) ordinary shares in Telkom, with a fair value of R74 million (2010: R244 million) and R301 million (2010: R278 million) are held as treasury shares by its subsidiaries Rossal No 65 (Proprietary) Limited and Acajou Investments (Proprietary) Limited, respectively. | ||
| The decrease in the number of treasury shares is due to 5,141,645 (2010: 4,457,699) shares that vested in terms of the TCSP during the year. | ||
| The fair value of these shares at the date of vesting was R194 million (2010: R169 million). |