Notes to the Group Annual Financial Statements – Note 13

13.1 Issued share capital
 
  Group   Company  
  June 2018
R’000
  June 2017
R’000
  June 2018
R’000
  June 2017
R’000
 
Authorised:                
1 billion ordinary shares at no par value 10 000   10 000   10 000   10 000  
60 million redeemable preference shares of 1 cent each 600   600   600   600  
Issued:                
Issued ordinary shares at 30 June 2018:                
554 377 328 made up as follows:                
Issued ordinary share capital                
554 377 328 (June 2017: 554 377 328) ordinary shares of 1 cent each 18 686   18 686   18 686   18 686  
– Opening balance 18 686   18 686   18 686   18 686  
– Issue of share capital        
Share premium (note 13.2) 999 058   999 058   999 058   999 058  
  1 017 744   1 017 744   1 017 744   1 017 744  

The Directors are authorised, by resolution of the members and until the forthcoming Annual General Meeting, to issue the unissued shares in accordance with the limitation set by members. All issued shares have been fully paid.

13.2 Share premium
 
  Group   Company  
  June 2018
R’000
  June 2017
R’000
  June 2018
R’000
  June 2017
R’000
 
Opening balance 999 058   970 358   999 058   970 358  
Reversal of share based payment reserve   28 700     28 700  
Closing balance 999 058   999 058   999 058   999 058  

Notes to the Group Annual Financial Statements – Note 13