Note 14

      2005 2004
      Rm Rm

14

Share capital

    
 

14.1

Authorised

    
    1 750 000 000 (2004: 1 750 000 000) ordinary shares of 10 cents each 175 175
    8 000 000 (2004: 8 000 000) 6,5% first cumulative preference shares of R1 each 8 8
    1 000 000 000 (2004: 1 000 000 000) non-redeemable, non-cumulative, non-participating preference shares of R0,01 each 10 10
      193 193
     
      2005 2004
      Rm Rm
 

14.2

Issued

    
    Ordinary share capital 135 135
    1 352 382 919 (2004: 1 352 108 367) ordinary shares of 10 cents each    
    Ordinary share premium             2 107             2 541
    A premium of R245 million, net of R1 million costs, (2004: R268 million) was raised on the allotment and issue during the year of 10 439 067 ordinary shares (2004: 13 378 700).
A premium of R679 million, including R2 million costs, was utilised on the buy-back of 10 164 515 ordinary shares.		    
    Preference share capital and premium 2 991 2 991
    8 000 000 (2004: 8 000 000) 6,5% first cumulative preference shares of R1 each – first preference shares 8 8
    30 000 000 (2004: 30 000 000) non-redeemable, non-cumulative, non-participating preference shares of R0,01 each – second preference shares – –
    Preference share premium – non-redeemable, non-cumulative,    
    non-participating preference shares – second preference shares 2 983 2 983
    The non-redeemable, non-cumulative, non-participating preference shares are entitled to an annual dividend, if declared, payable in two semi-annual instalments of not less than 70% of the prime rate multiplied by the subscription price of R100 per share.    
      5 233 5 667
    The number of options and appreciation rights available to be granted under the terms of the group's equity compensation plans as at the end of the year was 65 983 431 (2004: 55 300 684).
The group’s equity compensation plans reconciliations are given in Annexure E. 
     
    Number of
    ordinary
    shares
Reconciliation of shares issued    
Shares in issue at 1 January 2004   1 338 729 667
Shares issued during 2004 in terms of the group’s equity compensation plans 13 378 700
Shares in issue at 31 December 2004 1 352 108 367
Shares held in terms of the Tutuwa initiative (note 21) 99 190 197
Shares held by other shareholders 1 252 918 170
Shares issued during 2005 in terms of the group’s equity compensation plans 10 439 067
Shares repurchased and cancelled during the year   (10 164 515)
Shares in issue at 31 December 2005 1 352 382 919
Shares held in terms of the Tutuwa initiative (note 21) 99 190 197
Treasury shares held by Liberty Life for the benefit of policyholders 46 488 554
Shares held by other shareholders   1 206 704 168
         
     
      2005 2004
      Rm Rm
 

14.3

Unissued shares

    
    262 406 244 (2004: 262 680 796) ordinary shares of 10 cents each, of which 67 605 418 (2004: 133 872 967) are under the general authority of the directors which authority expires at the annual general meeting to be held on 24 May 2006. 26 26
    135 210 837 (2004: 135 210 837) ordinary shares of 10 cents each are reserved to meet the requirements of the group’s equity compensation plans in terms of the authority vested in the directors by members’ resolution dated 25 May 2005. 14 14
    970 000 000 (2004: 970 000 000) non-redeemable, non-cumulative, non-participating preference shares of R0,01 each are under the general authority of the directors which authority expires at the annual general meeting to be held on 24 May 2006. 10 10
      50 50
         
 

14.4

Interest of directors in service at 31 December 2005 in the capital of the company

    
    The directors’ interests are listed on Corporate governance - Share incentives and Directors’ report    
    Number of shares as at 31 December    
    Beneficial ordinary shares 12 243 067 11 898 331
    Beneficial non-redeemable, non-cumulative, non-participating preference shares 17 086 24 040
      Options 1 748 400 2 256 900