Summarised Group Statement of Changes in Equity

for the year ended 31 May 2008

Share

Transaction

capital and

Foreign

with

share

Retained

Restructuring

translation

minority

Minority

Total

premium

earnings

reserve

reserve

reserve

interest

equity

R’000

R’000

R’000

R’000

R’000

R’000

R’000

Balance as at 1 June 2006 (Predecessor value)

2 079 533

–

(1 998 328)

–

–

–

81 205

Net profit for the period

–

63 867

–

–

–

45 960

109 827

Dividends

–

–

–

–

–

(348)

(348)

Minorities acquired during the period

–

–

150 998

–

(14 893)

83 631

219 736

Associates acquired during the period

–

–

3 418

–

–

–

3 418

Exchange gains on translation of

foreign operations

–

–

–

4 188

–

(5)

4 183

Balance as at 31 May 2007 (Predecessor value)

2 079 533

63 867

(1 843 912)

4 188

(14 893)

129 238

418 021

Shares issued during the year

2 364 928

–

–

–

–

–

2 364 928

Share issue costs

(39 724)

–

–

–

–

–

(39 724)

Net profit for the period

–

180 891

–

–

–

26 901

207 792

Dividends

–

–

–

–

–

(998)

(998)

Minorities disposed of during the year

–

–

–

(883 671)

(146 294)

(1 029 965)

Exchange losses on translation of foreign

operations

–

–

–

(1 636)

–

(474)

(2 110)

Balance as at 31 May 2008 (Actual)

4 404 737

244 758

(1 843 912)

2 552

(898 564)

8 373

1 917 944