Blue Label Telecoms Integrated Annual Report 2019

26 Blue Label annual financial statements 2019 Group statement of changes in equity For the year ended 31 May 2019 Notes Issued share capital and premium R’000 Retained earnings R’000 Balance as at 1 June 2017 – as previously reported 3 953 871 3 640 034 Prior year error* 11 — (84 792) Balance as at 1 June 2017 – restated* 3 953 871 3 555 242 Net profit for the year – restated* — 1 122 085 Other comprehensive (loss)/income – restated* — — Total comprehensive income/(loss) – restated* — 1 122 085 Treasury shares purchased 6.1 (28 846) — Shares issued 3 932 834 — Transaction costs on shares issued (34 663) — Equity compensation benefit scheme shares vested 21 651 — Equity compensation benefit movement — — Transaction with non-controlling interest reserve movement — — B-BBEE transaction — — Non-controlling interest acquired — — Non-controlling interest disposed of — — Dividends paid — (349 804) Balance as at 31 May 2018 – restated* 7 844 847 4 327 523 Adjustment on the initial application of IFRS 9 10.5 — (95 888) Adjustment on the initial application of IFRS 15 10.5 — 9 717 Adjusted opening balance as at 1 June 2018 7 844 847 4 241 352 Net loss for the year — (6 646 383) Other comprehensive income/(loss) — — Total comprehensive (loss)/income — (6 646 383) Treasury shares purchased 6.1 (42 378) — Shares repurchased 6.1 (224 006) — Equity compensation benefit scheme shares vested 20 553 — Equity compensation benefit movement — — Transaction with non-controlling interest reserve movement** — — Non-controlling interest acquired — — Non-controlling interest disposed of — — Dividends paid — — Balance as at 31 May 2019 7 599 016 (2 405 031) * As a result of the prior year errors the Group has restated their comparative financial information. Refer to note 11 for details. ** The majority of this amount relates to the put option on the acquisition of Airvantage Technology Limited – see note 3.7.