Page 250 - Capricorn IAR 2020

GLOSSARY OF TERMS ANNUAL FINANCIAL GLOSSARY OF TERMS STATEMENTS
NOTES TO THE CONSOLIDATED AND SEPARATE ANNUAL FINANCIAL STATEMENTS (continued)
for the year ended 30 June 2020
33. SHARE–BASED PAYMENTS (continued)
Conditional share plan (“CSP”) (continued)
Outstanding number of CSPs (’000) expected to vest as follows:
2020
–
536
978
808
2,322
Grant date
September 2016 September 2017 September 2018 September 2019
Vest date 2019
September 2019 221 September 2020 519 September 2021 986 September 2022 –
1,726
The fair value of shares granted during the year was determined with reference to the listed share price at grant date of N$16.00 (2019: N$16.89) and taking into account a membership attrition of 5% (2019: 5%). Refer to note 8 for the total expense recognised in profit or loss for shares granted to executive directors and employees.
34. NON–DISTRIBUTABLE RESERVES
34.1 Credit risk reserve
Balance at 1 July
Transfer to retained earnings: Initial adoption of IFRS 9
Adjusted balance at 1 July Transfer to retained earnings
Balance as at 30 June
The regulatory credit risk reserve was introduced in order to meet the regulatory requirements for the loan loss portfolio impairment of Bank Windhoek Ltd.
34.2 Insurance fund reserve
Balance at 1 July
Transfer from retained earnings
Balance as at 30 June
The insurance reserve was created to fund a portion, net of deferred tax, of the regulatory requirement to hold a certain level of insurance specific for banking risk.
34.3 Net investment in foreign subsidiary reserve
Net exchange differences on net investments Balance as at 30 June
Total non-distributable reserves
Group
Company
2019 N$’000
2020 N$’000
34,829
2020 N$’000
215,911 (194,536)
–
34,829
(34,829)
21,375 13,454
51,125
2,975
–
34,829
53,742 (2,617)
54,100
51,125
(19,483)
–
(19,483)
–
(19,483)
–
(19,483)
–
34,617
85,954
(19,483)
–
2019 N$’000
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