LENMED AIR 2019.pdf

Group Figures in R’000 2019 Restated 2018 16. Cash and cash equivalents Cash and cash equivalents consist of cash on hand and balances with banks. Cash and cash equivalents, included in the statements of cash flows, comprise the following amounts: Favourable cash balances Cash on hand 119 247 Bank balances 70 755 65 023 70 874 65 270 Overdraft Bank overdraft 120 397 94 990 Net cash and cash equivalents (49 523) (29 720) Favourable cash balances to the value of R36.231 million (2018: R22.912 million) have been ceded to Rand Merchant Bank as security for facilities provided. 17. Stated capital Authorised 1 000 000 000 (2018: 1 000 000 000) ordinary shares at no par value Issued 709 533 909 ordinary shares at no par value (2018: 709 533 909 ordinary shares) 426 006 426 006 No of shares Share reconciliation Balance at the beginning of the year 709 534 426 006 422 407 Ordinary shares issued during the year - - 3 950 Share issue expenses - - (351) 709 534 426 006 426 006 During the year under review Nil (2018: 1.975 million) shares were issued by the company as follows: Doctors - Nil (2018: 1.975 million shares) + This share issue relates to a subscription for shares by doctors who currently practice at our facilities. During the prior year 20 doctors were issued shares at R2 per share. The directors are authorised, in terms of the company’s Memorandum of Incorporation, to issue and allot any of the unissued share capital for any purpose and upon such terms and conditions as they deem fit. Notes to the consolidated annual financial statements continued CONSOLIDATED ANNUAL FINANCIAL STATEMENTS 110