Summarised Group statement of changes in equity
For the year ended 31 May 2018
| Download (EXCEL) |
| Share capital, share premium and treasury shares Audited R’000 |
Retained earnings Audited R’000 |
Restructuring reserve Audited R’000 |
Other reserves1 Audited R’000 |
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| Balance as at 31 May 2016 | 3 942 512 | 3 105 050 | (1 843 912) | 187 605 | ||||
| Restatement due to adoption of accounting policy* | – | (3 447) | – | – | ||||
| Restated balance as at 31 May 2016* | 3 942 512 | 3 101 603 | (1 843 912) | 187 605 | ||||
| Restated net profit for the year* | – | 781 254 | – | – | ||||
| Other comprehensive income/(loss) | – | – | – | (80 569) | ||||
| Restated total comprehensive income/(loss)* | – | 781 254 | – | (80 569) | ||||
| Treasury shares purchased | (7 381) | – | – | – | ||||
| Equity compensation benefit scheme shares vested | 18 740 | – | – | – | ||||
| Equity compensation benefit movement | – | – | – | – | ||||
| Transaction with non-controlling interest reserve movement | – | – | – | – | ||||
| Non-controlling interest acquired | – | – | – | – | ||||
| Dividends paid | – | (242 823) | – | – | ||||
| Restated balance as at 31 May 2017* | 3 953 871 | 3 640 034 | (1 843 912) | 107 036 | ||||
|---|---|---|---|---|---|---|---|---|
| Net profit for the year | – | 993 624 | – | – | ||||
| Other comprehensive income/(loss) | – | – | – | (22 374) | ||||
| Total comprehensive income/(loss) | – | 993 624 | – | (22 374) | ||||
| Treasury shares purchased | (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 | 7 844 847 | 4 283 854 | (1 843 912) | 84 662 |
| Transactions with non- controlling interest reserve2 Audited R’000 |
Share based payment reserve3 Audited R’000 |
Non- controlling interest Audited R’000 |
Total equity Audited R’000 |
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| Balance as at 31 May 2016 | (965 861) | 42 039 | 52 134 | 4 519 567 | ||||
| Restatement due to adoption of accounting policy* | – | – | – | (3 447) | ||||
| Restated balance as at 31 May 2016* | (965 861) | 42 039 | 52 134 | 4 516 120 | ||||
| Restated net profit for the year* | – | 33 896 | 815 150 | |||||
| Other comprehensive income/(loss) | – | – | (1 907) | (82 476) | ||||
| Restated total comprehensive income/(loss)* | – | 31 989 | 732 674 | |||||
| Treasury shares purchased | – | – | – | (7 381) | ||||
| Equity compensation benefit scheme shares vested | – | (18 486) | (254) | – | ||||
| Equity compensation benefit movement | – | 22 867 | 550 | 23 417 | ||||
| Transaction with non-controlling interest reserve movement | (9 441) | – | 9 441 | – | ||||
| Non-controlling interest acquired | – | – | 65 | 65 | ||||
| Dividends paid | – | – | (26 788) | (269 611) | ||||
| Restated balance as at 31 May 2017* | (975 302) | 46 420 | 67 137 | 4 995 284 | ||||
|---|---|---|---|---|---|---|---|---|
| Net profit for the year | – | – | 53 685 | 1 047 309 | ||||
| Other comprehensive income/(loss) | – | – | (465) | (22 839) | ||||
| Total comprehensive income/(loss) | – | – | 53 220 | 1 024 470 | ||||
| Treasury shares purchased | – | – | – | (28 846) | ||||
| Shares issued | – | – | – | 3 932 834 | ||||
| Transaction costs on shares issued | – | – | – | (34 663) | ||||
| Equity compensation benefit scheme shares vested | – | (21 362) | (289) | – | ||||
| Equity compensation benefit movement | – | 23 084 | 778 | 23 862 | ||||
| Transaction with non-controlling interest reserve movement | (93 966)5 | – | – | (93 966) | ||||
| B-BBEE transaction | – | 1 4004 | – | 1 400 | ||||
| Non-controlling interest acquired | – | – | 66 645 | 66 645 | ||||
| Non-controlling interest disposed of | – | – | (2 824) | (2 824) | ||||
| Dividends paid | – | – | (27 750) | (377 554) | ||||
| Balance as at 31 May 2018 | (1 069 268) | 49 542 | 156 917 | 9 506 642 |
| 1 | Other reserves include foreign currency translation reserve and the non-distributable reserve. |
| 2 | 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. |
| 3 | Includes employee equity compensation benefit reserve. |
| 4 | The B-BBEE transaction was concluded by Panacea Mobile Proprietary Limited and Simigenix Proprietary Limited (“the companies”), subsidiaries of Blue Label Telecoms. In October 2017 the companies declared dividends to the full value of the companies to Blue Label Telecoms. Such dividends were immediately converted to preference shares. Subsequent to this, the companies issued shares to Bitsana Investments Proprietary Limited for nominal value. The Group has not recognised this dilution and accounts for the companies as wholly owned subsidiaries until the preference shares have been settled in full. The preference shares will be settled through the declaration of dividends by the companies. There are no specified dates for this. |
| 5 | This relates to a put option that the Group has on the remaining 40% shareholding in Airvantage. |
| * | As a result of the revised guidance in Circular 2/2017 the Group has restated their comparative financial information for a change in accounting policy. |