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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2021 109GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2021(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)13. Cash and short-term deposits (continued)For the purpose of the consolidated statement of cash flows, cash and cash equivalents comprise the following at 31 December: The Company is authorised to issue an unlimited number of ordinary shares of no par value.14. Stated capital, treasury shares and other reservea. Issued and fully paidb. Treasury sharesAs detailed in Note 2 (xvi), 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 is 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:2021 2020$ $Cash at bank and on hand 31,568 34,243Money market fund 14 14Cash and cash equivalents 31,582 34,2572021 2020Number of shares (000%u2019s) 100 100Carrying value of shares ($%u2019000s) 1,554 1,554The market value of treasury shares ($%u2019000s) 304 34229,297 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