Notes to the consolidated financial statements – Note 24     2015 R’000     2014 R’000   24. Capital and reserves attributable to shareholders of the Company             Share capital                Issued share capital 16 758     16 562        Share premium 297 298     193 182     Reserves 37 043 359     33 096 748        Foreign currency translation reserve 5 149 394     5 288 068        Hedging reserve 25 383     29 041      Equity-settled share-based payment reserve 310 416     359 594        Retained earnings 31 558 166     27 420 045       37 357 415     33 306 492     Less shares held by subsidiary as treasury shares (985 225)     (1 525 610)     Share capital (505)     (616)     Share premium (984 720)     (1 524 994)     Capital and reserves attributable to shareholders of the Company 36 372 190     31 780 882     Reserves comprise             Company and subsidiaries 36 633 785     32 795 867     Associates 409 574     300 881       37 043 359     33 096 748     Share capital             Authorised             540 000 000 (2014: 540 000 000) ordinary shares of 5 cents each 27 000     27 000       Number     Number     Issued             Number of shares issued 335 163 151     331 237 219         Balance at beginning of year 331 237 219     327 734 929         Capitalisation issue 3 576 797     3 281 838         Shares issued in terms of the share incentive scheme 349 135     220 452     Less: Shares held by subsidiary as treasury shares (9 568 669)     (11 673 487)         Balance at beginning of year (11 673 487)     (13 297 150)     Sale of shares by subsidiary to staff in terms of share incentive scheme 2 104 818     1 623 663     Less: Shares held by share purchase scheme (542 110)     (647 338)         Balance at beginning of year (647 338)     (882 341)         Shares acquired by staff in terms of share incentive scheme 105 228     235 003     Net shares in issue 325 052 372     318 916 394     30 000 000 (2014: 30 000 000) of the unissued ordinary shares are under the control of the directors until the next annual general meeting. Foreign currency translation reserve The translation reserve comprises foreign exchange differences arising from the translation of the financial statements of foreign operations. Hedging reserve The hedging reserve represents the effective portion of gains or losses arising on changes in fair value of hedging instruments entered into as cash flow hedges. The cumulative gain or loss arising on changes in fair value of the hedging instruments that are recognised and accumulated under the hedging reserve will be reclassified to profit or loss when the hedged transaction takes place. Where the hedged transaction is for the acquisition of non-monetary assets, the relevant hedging reserve will be offset against the acquisition cost. Equity-settled share-based payment reserve The equity-settled share-based payment reserve includes the fair value of the options granted and conditional share awards made to executive directors and staff, which have been recognised over the vesting period at fair value with a corresponding expense recognised in the income statement. The reserve also includes a share-based cost resulting from an empowerment transaction entered into by a subsidiary. Notes to the consolidated financial statements – Note 24