Page 105 - Demo

GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2022 103GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2022(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:14. Stated capital, treasury shares and other reservea. Issued and fully paid2022 2021$ $Cash at bank and on hand 17,037 31,568Money market fund 14 14Cash and cash equivalents 17,051 31,58229,297 6% cumulative participating preference shares 1,465 1,46540,000,000 ordinary shares of no par value 25,823 25,823 27,288 27,288b. Treasury sharesAs detailed in Note 2 (xvi), the Group operates an Employee Share Ownership Plan (ESOP) in which shares purchased by the Plan are held in Trust. The cost of these unallocated ESOP shares is accounted for and disclosed within equity as treasury shares. The number and value of own equity shares (treasury shares) held by the Group are as follows:2022 2021Number of shares (000%u2019s) 100 100Carrying value of shares ($%u2019000s) 1,554 1,554The market value of treasury shares ($%u2019000s) 294 304The Company is authorised to issue an unlimited number of ordinary shares of no par value.