Annual REPORT

ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
NOTES TO THE FINANCIAL STATEMENTS (Continued)
29 DEFERRED TAX LIABILITY -Group & Bank (Continued)
Group
Movement in deferred tax liability is as follows: 2015 2014 2015 2014
Bank
Sh’000 Sh’000 Sh’000 Sh’000
At 1 January 5,427 2,082 5,582 2,082
Charge/(credit) to profit or loss (note 11) (8,194) 3,345 (8,164) 3,500
__________ _________ _________ _________
At 31 December (2,767) 5,427 (2,582) 5,582
========= ======== ======== ========
2015 2014
30 SHARE CAPITAL Sh’000 Sh’000
Authorised:
1,500,000,000 ordinary shares of Sh 1 each
(2014:750,000,000 ordinary shares of Sh 2 each)
Issued and fully paid:
1,500,000 1,500,000
========= ========
1,245,187,196 (2014: 1,245,187,196) ordinary shares of Sh 1 each 1,245,186 1,245,186
Movement in issued and fully paid shares
========= ========
Number
of shares
Share
Capital
Sh ‘000
Share Premium
Sh ‘000
Total
Sh’000
At 1 January 2014 557,023,364 1,114,046 2,100,251 3,214,297
New shares 5,570,234 11,140 111,406 122,546
__________ ________ ________ ________
562,593,598 1,125,186 2,211,657 3,336,843
__________ ________ ________ ________
Share split 1,125,187,196 1,125,186 2,211,657 3,336,843
Rights issued in the year 120,000,000 120,000 2,880,000 3,000,000
Rights issue costs* - - (27,981) (27,981)
___________ ________ ________ ________
At 31 December 2014 1,245,187,196 1,245,186 5,063,676 6,308,862
========== ======= ======= =======
At 1 January 2015 1,245,187,196 1,245,186 5,063,676 6,308,862
Rights issue costs - - (1,157) (1,157)
___________ ________ ________ ________
At 31 December 2015 1,245,187,196 1,245,186 5,062,519 6,307,705
========== ======= ======= =======
In 2014, the Group increased its capital by 3,094,563,000 through the rights issue of 120,000,000 shares at Sh 25 and issue of 5,570,234 new shares to
the chairman. In addition the bank did as share split of 1:1 ratio translating to 562,593,598 shares. The share premium is net off rights issue costs of Sh
27,981,000.
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