Table:
|  | 2019 | 2018 |
| --- | --- | --- |
|  | No. of Shares | No. of Shares |
| Number of shares at beginning of year | 114,758 | 137,227 |
| Number of shares distributed to employees | 45,560 | 42,480 |
| Number of shares transferred to main share registry and/or disposed of | (44,526) | (64,949) |
| Number of shares at year end | 115,792 | 114,758 |
Paragraphs:
16. SHARE-BASED PAYMENTS
a. Employee Share Plan
The Employee Share Plan (ESP) is available to all eligible employees each year to acquire ordinary shares in the Company from future remuneration (before tax). Shares to be issued or transferred under the ESP will be valued at the volume-weighted average price of the Company’s shares traded on the Australian Securities Exchange during the five business days immediately preceding the day the shares are issued or transferred. Shares issued under the ESP are not allowed to be sold, transferred or otherwise disposed until the earlier of the end of an initial three-year period, or the participant ceasing continuing employment with the Company.
Details of the movement in employee shares under the ESP are as follows:
The consideration for the shares issued on 22 May 2019 was $3.72 (7 May 2018: $4.24).
Question:
What was the average number of shares at year end for both years?
Answer: (115792 + 114758) / 2  = 115275