2020
R'000 		   2019
R'000
27. Capital and reserves attributable to shareholders of the Company    
Share capital    
Issued share capital  17 014     16 948    
Share premium  1 367 796     1 099 231    
Reserves  21 109 491     23 864 970    
   Foreign currency translation reserve  400 927        208 936    
   Hedging reserve  (65 284)    (13 580)   
   Equity-settled share-based payment reserve  (437 247)    (343 118)   
   Retained earnings  21 211 095        24 012 732    
Shares held by subsidiary as treasury shares   664 746     637 063    
   Share capital  (25)       (35)   
   Share premium  664 771        637 098    
      23 159 047     25 618 212    
Reserves comprise    
Company and subsidiaries  21 095 698     22 654 133    
Associates  13 793     1 210 837    
         21 109 491     23 864 970    
   Share capital 
   Authorised 
   540 000 000 (2019: 540 000 000) ordinary shares of 5 cents each  27 000        27 000    
Number     Number    
   Issued    
   Number of shares in issue  340 274 346     338 961 976    
      Balance at beginning of year  338 961 976        337 463 035    
      Issued in settlement share incentive scheme obligations  1 312 370        1 498 941    
   Less: Shares held by subsidiary as treasury shares  (504 837)    (579 939)   
      Balance at beginning of year  (579 939)       (696 625)   
      (Replenished) borrowed in settlement of share incentive obligations  (116 686)    116 686    
      Sale of shares by subsidiary to staff in terms of share incentive scheme  191 788        –    
   Net shares in issue  339 769 509     338 382 037    
 

16 900 000 (2019: 16 750 000) of the unissued ordinary shares are under the control of the directors until the next annual general meeting.

No cash flows outside of the Group when share incentive obligations are settled. To facilitate the orderly settlement of its share incentive obligations The Bidvest Share Incentive Trust borrows Bidvest ordinary shares from the Group's treasury stock. The treasury stock is periodically replenished via a new issue. The number of outstanding treasury shares borrowed in settlement of share incentive obligations at 30 June 2020 was nil (2019:116 686).

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 share appreciation rights granted and conditional share awards made to staff and executive directors, which have been recognised over the vesting period at fair value with a corresponding expense recognised in the income statement.