Group statement of changes in equity
for the year ended 31 May 2009
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Foreign |
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currency |
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Restruc- |
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trans- |
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Share |
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Share |
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Treasury |
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Retained |
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turing |
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lation |
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capital |
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premium |
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shares |
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earnings |
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reserve1 |
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reserve |
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Note |
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R’000 |
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R’000 |
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R’000 |
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R’000 |
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R’000 |
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R’000 |
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Balance as at 1 June 2007 |
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* |
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2 079 533 |
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— |
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63 867 |
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(1 843 912) |
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4 188 |
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Shares issued during the year |
13 |
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* |
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2 364 928 |
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— |
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— |
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— |
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— |
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Share issue costs |
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— |
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(39 724) |
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— |
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— |
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— |
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— |
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Net profit for the year |
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— |
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— |
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— |
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180 891 |
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— |
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— |
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Dividends |
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— |
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— |
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— |
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— |
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— |
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— |
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Minorities disposed of during |
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the year |
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— |
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— |
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— |
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— |
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— |
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— |
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Exchange losses on translation |
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of foreign operations |
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— |
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— |
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— |
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— |
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— |
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(1 636) |
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Balance as at 31 May 2008 |
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* |
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4 404 737 |
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— |
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244 758 |
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(1 843 912) |
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2 552 |
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Net profit for the year |
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— |
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— |
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— |
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390 547 |
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— |
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— |
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Treasury shares purchased |
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— |
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— |
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(25 562) |
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— |
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— |
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— |
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Asset acquired for shares |
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— |
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— |
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— |
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— |
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— |
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— |
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Equity compensation benefit |
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movement |
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— |
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— |
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— |
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— |
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— |
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— |
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Minorities acquired/(disposed |
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of) during the year |
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— |
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— |
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— |
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— |
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— |
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— |
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Exchange losses on translation |
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of equity loans |
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— |
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— |
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— |
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— |
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— |
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(15 107) |
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Exchange losses on translation |
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of foreign operations |
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— |
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— |
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— |
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— |
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— |
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(844) |
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Balance as at 31 May 2009 |
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* |
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4 404 737 |
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(25 562) |
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635 305 |
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(1 843 912) |
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(13 399) |
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Trans- |
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Employee |
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Total |
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action |
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compen- |
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Share- |
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ordinary |
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with |
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sation |
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based |
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share- |
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minority |
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benefit |
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payment |
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holders |
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Minority |
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Total |
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reserve2 |
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reserve |
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reserve |
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equity |
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interest |
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equity |
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Note |
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R’000 |
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R’000 |
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R’000 |
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R’000 |
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R’000 |
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R’000 |
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Balance as at 1 June 2007 |
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(14 893) |
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— |
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— |
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288 783 |
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129 238 |
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418 021 |
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Shares issued during the year |
13 |
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— |
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— |
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— |
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2 364 928 |
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— |
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2 364 928 |
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Share issue costs |
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— |
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— |
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— |
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(39 724) |
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— |
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(39 724) |
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Net profit for the year |
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— |
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— |
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— |
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180 891 |
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26 901 |
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207 792 |
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Dividends |
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— |
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— |
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— |
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— |
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(998) |
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(998) |
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Minorities disposed of during |
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the year |
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(883 671) |
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— |
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— |
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(883 671) |
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(146 294) |
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(1 029 965) |
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Exchange losses on translation |
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of foreign operations |
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— |
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— |
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— |
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(1 636) |
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(474) |
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(2 110) |
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Balance as at 31 May 2008 |
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(898 564) |
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— |
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— |
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1 909 571 |
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8 373 |
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1 917 944 |
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Net profit for the year |
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— |
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— |
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— |
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390 547 |
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(25 582) |
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364 965 |
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Treasury shares purchased |
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— |
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— |
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— |
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(25 562) |
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— |
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(25 562) |
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Asset acquired for shares |
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— |
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— |
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1 231 |
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1 231 |
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— |
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1 231 |
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Equity compensation benefit |
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movement |
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— |
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9 371 |
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— |
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9 371 |
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195 |
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9 566 |
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Minorities acquired/(disposed |
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of) during the year |
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(15 835) |
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— |
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— |
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(15 835) |
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3 458 |
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(12 377) |
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Exchange losses on translation |
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of equity loans |
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— |
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— |
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— |
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(15 107) |
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— |
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(15 107) |
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Exchange losses on translation |
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of foreign operations |
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— |
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— |
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— |
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(844) |
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4 304 |
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3 460 |
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Balance as at 31 May 2009 |
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(914 399) |
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9 371 |
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1 231 |
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2 253 372 |
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(9 252) |
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2 244 120 |
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| * |
Less than R1 000. |
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| 1 |
The restructuring reserve arose as a result of the restatement of group comparatives, as required in terms of the principles of predecessor accounting. This reserve represents the
difference between the fair value of the entities under the group’s control and their respective net asset values, as at the assumed restructure date of 1 June 2006. |
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| 2 |
The transaction with minority reserve relates to the excess payments over the carrying amounts arising on transactions with minority shareholders as these are treated as equity
participants. (Refer to note 6 and note 24) |
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