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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2020 95GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2020(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)13. Cash and short%u2013term deposits (continued)For the purpose of the consolidated statement of cash flows, cash and cash equivalents comprise the following at 31 December:2020 2019$ $Cash at bank and on hand 34,243 25,702Money market fund 14 13Cash and cash equivalents 34,257 25,71529,297 6% cumulative participating preference shares 1,465 1,46540,000,000 ordinary shares of no par value 25,823 25,823 27,288 27,2882020 2019Number of shares (000%u2019s) 100 100Carrying value of shares ($%u2019000s) 1,554 1,554The market value of treasury shares ($%u2019000s) 342 75014. Stated capital, treasury shares and other reservesa. Issued and fully paidThe Company is authorised to issue an unlimited number of ordinary shares of no par value.b. Treasury sharesAs detailed in Note 2 (xv), 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: