for the year ended 30 September

Notes to the annual financial statements

 
      Group
      2011  
Rm  
  2010  
Rm  
7.   Number of shares used to calculate earnings per share          
  Weighted average number of shares in issue used to determine basic earnings, headline earnings and normalised headline earnings per share (millions of shares)    165,3     178,7  
  Adjusted by the dilutive effect of:          
 
Unexercised share options granted (millions of shares) 
  1,1     1,6  
 
The notional unencumbered Reunert shares held by Bargenel (millions of shares)1 
  –     –  
  Weighted average number of shares used to determine diluted, diluted headline and diluted normalised headline earnings per share (millions of shares)    166,4     180,3  
 
1 The notional unencumbered Reunert shares represent the proportion of the 18,5 million BEE shares held by Bargenel that could be settled out of the year end equity of Bargenel (being the 18,5 million shares multiplied by the Reunert ordinary share price at the end of the year (R58,55) (2010: R62,01), less the disposal value per share as defined in the circular to shareholders dated 13 December 2006, dealing with this transaction, net of the upfront discount of 10% (R60,13)).