Blue Label Telecoms Integrated Annual Report 2015

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For the year ended 31 May 2015
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BLUE LABEL INTEGRATED ANNUAL REPORT 2015
GROUP STATEMENT OF CHANGES IN EQUITY
Notes
Share
capital
R’000
Share
premium
R’000
Treasury
shares
R’000
Retained
earnings
R’000
Balance as at 31 May 2013 * 4 012 359 (72 468) 1 941 082
Net profit for the year — — — 450 230
Other comprehensive income — — — —
Total comprehensive income — — — 450 230
Treasury shares purchased 13 — — (11 120) —
Equity compensation benefit scheme shares vested — — 17 061 —
Equity compensation benefit movement — — — —
Share of equity movement in associates — — — —
Dividends — — — (168 627)
Transaction with non-controlling interest reserve movement — — — —
Non-controlling interest movement — — — —
Balance as at 31 May 2014 * 4 012 359 (66 527) 2 222 685
Net profit for the year — — — 577 617
Other comprehensive loss — — — —
Total comprehensive income — — — 577 617
Treasury shares purchased 13 — — (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 — — — (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
* Less than R1 000.
The notes on pages 97 to 193 are an integral part of these consolidated financial statements.
1The 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.
2The non-distributable reserve arose as a result of BLT’s share of share premium issued by associate companies pre-2010.
3The 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. Refer to note 28.
4This relates to the Group’s movement in equity compensation benefit (refer to note 32) as well as the Group’s share of the
movement in equity compensation benefit of associate companies (refer to note 6).
5The 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.
Share
capital
R’000
Share
premium
R’000
Treasury
shares
R’000
Retained
earnings
R’000