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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2018(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)12. Cash and short%u2013term deposits (continued)Fixed depositsAn amount of $17.9 million (2017: $37.1 million) was held in TT dollar denominated fxed deposits with maturities of 1 year and fxed interest rates of 2% per annum. The fxed deposits were invested with a fellow subsidiary (ANSA Merchant Bank Limited) in the ANSA McAL Limited Group of Companies. These fxed deposits are treated as cash and cash equivalents in the Consolidated Statement of Cash Flows as the deposits are readily convertible to cash at any point prior to maturity.2018 201713. Stated capital, treasury shares and other reserves $ $(a) Issued and fully paid29,297 6% cumulative participating preference shares 1,465 1,46540,000,000 ordinary shares of no par value 25,823 25,823 27,288 27,288 The Company is authorised to issue an unlimited number of ordinary shares of no par value.(b) Treasury sharesAs detailed in Note 2 (xiv), the Group operates an Employee Share Ownership Plan (ESOP) in which shares purchased by the Plan are held in Trust. The cost of these unallocated ESOP shares are accounted for and disclosed within equity as treasury shares. The number and value of own equity shares (treasury shares) held by the Group are as follows:2018 2017Number of shares (000%u2019s) 100 100Carrying value of shares ($%u2019000s) 1,554 1,460The market value of treasury shares ($%u2019000s) 1,500 1,79892 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2018