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Group statement of changes in equity
For the year ended 31 May 2013
* Less than R1 000.
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.
2 The non-distributable reserve arose as a result of BLT's share of share premium issued by associate companies pre-2010.
3 The transaction with non-controlling interest reserve relates to the excess payments over the carrying amounts arising on transactions with
non-controlling shareholders as these are treated as equity participants. (Refer to .)
4 This relates to the Group’s movement in equity compensation benefit (refer to ) as well as the Group’s share of the movement in equity
compensation benefit of associate companies. (Refer to .)
5 The share-based payment reserve relates to a BEE transaction concluded by Cigicell Proprietary Limited, a subsidiary of Blue Label Telecoms. In
September 2009 Ventury Proprietary Limited sold 26% of its stake in Cigicell Proprietary Limited to Sangrilor Proprietary Limited. The Group has not
recognised this disposal and accounts for Cigicell Proprietary Limited as a wholly owned subsidiary until the purchase consideration has been settled by
Sangrilor Proprietary Limited. The purchase consideration will be settled through the declaration of dividends by Cigicell Proprietary Limited. There are no
specified dates for this. |
