for the six months ended 30 September 2016
| Reviewed Six months ended 30 September 2016 |
Audited Year ended 31 March 2015 |
|
|---|---|---|
| Rm | Rm | |
| Non-distributable reserves | 1 346 | 1 507 |
| Cell Captive reserve | 2 381 | 2 291 |
| Foreign currency translation reserve | (65) | (9) |
| Shares held by subsidiaries and in Escrow | (969) | (775) |
The Group has a Cell Captive preference share investment to fund Telkom's post-retirement medical aid liability.
The fair value gains from the Cell Captive are recognised in profit or loss and then transferred to non-distributable reserves. In the current financial period R90 million (2016: R9 million) was transferred.
The reserve also represents Telkom shares held by subsidiaries and in Escrow, to be utilised in terms of the Telkom Employee Share Plan.
In the current financial period, Telkom purchased R205 million worth of shares from the market for the purposes of the Telkom Employee Share Plan.