| |
Telkom's shareholders approved the Group share scheme at the September 2013 annual general meeting. The scheme covers certain
operational and management employees and is aimed at giving shares to Group employees, at a Rnil exercise price at the end of the vesting
period. Although the number of shares awarded to employees was communicated at the grant date, the ultimate number of shares that vest
may differ based on certain performance conditions being met (refer to note 10.7).
| The movement within the share-based compensation reserve is: |
31 March
2024
Rm |
31 March
2024
Rm |
| Balance at the beginning of the year |
1 535
|
1 414 |
1 321 |
1 250 |
| Net increase in equity |
75 |
121 |
53 |
71 |
| Employee expenses (refer to note 3.4.4) |
69 |
121 |
38 |
36 |
| Openserve share-based compensation reserve1 |
— |
— |
9 |
35 |
| Transfer of Gyro share-based compensation reserve |
6 |
— |
6 |
— |
|
|
|
|
|
| 1 535 |
1 321 |
| 1 |
From 1 September 2022, Openserve is a 100% owned subsidiary of the Group. For shares granted before 1 September 2022, where Openserve does not have an obligation to
pay for the shares, it has been assessed that these shares need to be equity-settled in Telkom Company. This is because Telkom has the obligation to settle for the services
rendered to Openserve. For services rendered by the Openserve employees after the carve-out date, the share-based compensation reserve was increased in the current
financial year by R9 million (31 March 2024: R35 million), with a corresponding entry to the investment in Openserve. |
|
