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SUN INTERNATIONAL ANNUAL REPORT ’10
200
NOTES TO THE COMPANY FINANCIAL STATEMENTS CONTINUED
for the year ended 30 June
8. DEFERRED TAX
Balance at beginning of year (16) (7)
Statement of comprehensive income credit for the year (3) (1)
Charged/(credited) directly to equity 7 (8)
Balance at end of year (12) (16)
Deferred tax arises from the following temporary differences:
Deferred tax assets
Fair value adjustments (12) (16)
Balance at beginning of year (16) (7)
Statement of comprehensive income credit for the year (3) (1)
Charged/(credited) directly to equity 7 (8)
Net deferred tax asset (12) (16)
9. SHARE CAPITAL AND PREMIUM
Authorised
150 000 000 (2009: 150 000 000) ordinary shares of 8 cents each 12 12
100 000 000 (2009: 100 000 000) variable rate cumulative redeemable
preference shares of 1 cent each 1 1
Issued*
Share capital 8 8
Share premium 138 99
Deemed treasury shares – (78)
* The issued preference shares have been included in borrowings in note 10.
2010
Rm
2009
Rm
146 29
4 571 795 shares in the unissued share capital of the company remain under the control of the directors as a specific authority in terms of
section 221(2) of the Companies Act to allot and issue in accordance with the share option scheme. A further 10 780 000 shares have been
placed under the specific control of the directors to allot and issue in accordance with the EGP, CSP, DBP and RSP.
2010 2009
Number
of shares Rm
Number
of shares Rm
Movement during the year
Balance at beginning of year 108 995 495 29 105 494 769 8
Exercised treasury share options 1 264 226 39 4 336 135 99
Statutory shares in issue 110 259 721 68 109 830 904 107
Deemed treasury shares purchased – – (835 409) (78)
Deemed treasury shares disposed to SIML 835 409 78 – –
Balance at end of year 111 095 130 146 108 995 495 29
During the year, the company exercised treasury share options resulting in the issue of 1 264 226 (2009: 4 336 135) shares.