Group statement of changes in equity

For the year ended 31 May 2016

Download (EXCEL)

 

 

  Notes Share
capital
R’000
Share
premium
R’000
Treasury 
shares 
R’000 
Retained 
earnings 
R’000 
Restruc- 
turing 
reserve1 
R’000 
Foreign 
currency 
translation 
reserve 
R’000 
 
Balance as at 31 May 2014     4 012 359  (66 527) 2 222 685  (1 843 912) 128 648    
Net profit for the year     —  —  —  577 617  —  —    
Other comprehensive loss     —  —  —  —  —  (27 926)   
Total comprehensive income     —  —  —  577 617  —  (27 926)   
Treasury shares purchased  6  —  —  (19 131) —  —  —    
Equity compensation benefit scheme shares vested     —  —  17 187  —  —  —    
Equity compensation benefit movement     —  —  —  —  —  —    
Share of equity movement in associates     —  —  —  —  —  —    
Associate disposed     —  —  —  3 081  —  —    
Dividends declared     —  —  —  (182 117) —  —    
Transaction with non-controlling interest reserve movement     —  —  —  —  —  —    
Non-controlling interest acquired     —  —  —  1 292  —  —    
Non-controlling interest disposed of     —  —  —  —  —  —    
Balance as at 31 May 2015     4 012 359  (68 471) 2 622 558  (1 843 912) 100 722    
Net profit for the year     —  —  —  691 590  —  —    
Other comprehensive income     —  —  —  —  —  79 062    
Total comprehensive income     —  —  —  691 590  —  79 062    
Treasury shares purchased  6  —  —  (23 052) —  —  —    
Equity compensation benefit scheme shares vested     —  —  21 676  —  —  —    
Equity compensation benefit movement     —  —  —  —  —  —    
Share of equity movement in associates     —  —  —  —  —  —    
Dividends declared     —  —  —  (209 098) —  —    
Balance as at 31 May 2016     4 012 359  (69 847) 3 105 050  (1 843 912) 179 784    

 

  Non- 
distributable 
reserve2 
R’000 
Transactions 
with 
non- 
controlling 
interest 
reserve3 
R’000 
Equity 
compen- 
sation 
benefit 
reserve4 
R’000 
Share- 
based 
payment 
reserve5 
R’000 
Total 
ordinary 
share- 
holders’ 
equity 
R’000 
Non- 
controlling 
interest 
R’000 
Total 
equity 
R’000 
 
Balance as at 31 May 2014  10 150  (957 230) 32 368  1 292  3 539 833  (15 844) 3 523 989    
Net profit for the year  —  —  —  —  577 617  3 576  581 193    
Other comprehensive loss  —  —  —  —  (27 926) 4 825  (23 101)   
Total comprehensive income  —  —  —  —  549 691  8 401  558 092    
Treasury shares purchased  —  —  —  —  (19 131) —  (19 131)   
Equity compensation benefit scheme shares vested  —  —  (16 949) —  238  (238) —    
Equity compensation benefit movement  —  —  24 082  —  24 082  208  24 290    
Share of equity movement in associates  —  —  548  —  548  —  548    
Associate disposed  (2 329) —  (752) —  —  —  —    
Dividends declared  —  —  —  —  (182 117) (4 874) (186 991)   
Transaction with non-controlling interest reserve movement  —  (1 499) —  —  (1 499) —  (1 499)   
Non-controlling interest acquired  —  (7 132) —  (1 292) (7 132) 21 529  14 397    
Non-controlling interest disposed of  —  —  —  —  —  4 286  4 286    
Balance as at 31 May 2015  7 821  (965 861) 39 297  —  3 904 513  13 468  3 917 981    
Net profit for the year  —  —  —  —  691 590  40 022  731 612    
Other comprehensive income  —  —  —  —  79 062  2 467  81 529    
Total comprehensive income  —  —  —  —  770 652  42 489  813 141    
Treasury shares purchased  —  —  —  —  (23 052) —  (23 052)   
Equity compensation benefit scheme shares vested  —  —  (21 429) —  247  (247) —    
Equity compensation benefit movement  —  —  23 421  —  23 421  424  23 845    
Share of equity movement in associates  —  —  750  —  750  —  750    
Dividends declared  —  —  —  —  (209 098) (4 000) (213 098)   
Balance as at 31 May 2016  7 821  (965 861) 42 039  —  4 467 433  52 134  4 519 567    
* 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 transactions 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.
4 This relates to the Group’s movement in equity compensation benefit (refer to note 5.2) as well as the Group’s share of the movement in equity compensation benefit of associate companies (refer to note 2.1).
5 The share-based payment reserve relates to a BEE transaction concluded by Cigicell Proprietary Limited, a subsidiary of BLT. In September 2009 Ventury Proprietary Limited sold 26% of its stake in Cigicell Proprietary Limited to Sangrilor Proprietary Limited. The Group previously did not recognise this disposal and accounted for Cigicell Proprietary Limited as a wholly owned subsidiary until the purchase consideration was settled by Sangrilor Proprietary Limited. The purchase consideration was settled through the declaration of dividends by Cigicell Proprietary Limited on 1 April 2015. On this date the share-based payment reserve was released to retained earnings. The Group accounted for this sale on that date.