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Integrated Report 2016
ANNUAL FINANCIAL STATEMENTS
(continued)
20. NON-DISTRIBUTABLE RESERVES
Share-based
payment
reserve
R’000
Cash flow
hedge
accounting
reserve
R’000
Capital
redemption
reserve
R’000
Foreign
currency
translation
reserve
R’000
Legal
reserves
and other
R’000
Total
R’000
Balance at 1 July 2014
376 856
(183)
3 919
29 402
16 421
426 415
Movement during the year, net
of tax
16 098
77
62 449
(39)
78 585
Movement for the year
17 333
106
62 449
496
80 384
Tax effect of net movement
on cash flow hedge and
investment
(29)
(93)
(122)
Accelerated Mpho ea
Bophelo Trust payment
(1 235)
(1 235)
Actuarial loss on post-
retirement medical liability
(442)
(442)
Balance at 30 June 2015
392 954
(106)
3 919
91 851
16 382
505 000
Movement during the year, net
of tax
12 578
(13 914)
–
118 291
6 558
123 513
Movement for the year
39 089
(19 325)
118 291
(700)
137 355
BMT
(1 724)
Equity-settled
12 556
Bophelo – one-off call option
charge
20 821
Bophelo – recurring charge
7 436
Tax effect of net movement
on cash flow hedge and
investment
5 411
112
5 523
Accelerated Mpho ea
Bophelo Trust payment
(26 511)
(26 511)
Actuarial loss on post-
retirement medical liability
6 079
6 079
Profit on sale of shares
1 067
1 067
Balance at 30 June 2016
405 532
(14 020)
3 919
210 142
22 940
628 513
Split as follows:
–– Continuing operations
405 532
(14 020)
3 919
61 479
26 605
483 515
–– Discontinued operation
–
–
–
148 663
(3 665)
144 998
405 532
(14 020)
3 919
210 142
22 940
628 513
Share-based payment reserve
The share-based payment reserve represents the accumulated charge for share options in terms of IFRS 2. The share option plans are
equity-settled and include an ordinary equity scheme and the BEE schemes. During the year there was an accelerated payment made to
employees in terms of the Bophelo scheme. Refer to Annexure B.
Cash flow hedge accounting reserve
The cash flow hedge accounting reserve comprises the portion of the cumulative net change in the fair value of derivatives designated
as effective cash flow hedging relationships where the hedged item has not yet affected inventory and ultimately cost of sales in the
statement of comprehensive income.
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS