Adcock Ingram Integrated Report 2018

ANNUAL FINANCIAL STATEMENTS Notes to the Group annual financial statements continued 92 ADCOCK INGRAM  Integrated Report 2018 19 SHARE PREMIUM 2018 2017 R’000 R’000 Balance at the beginning of the year 666 873 666 873 Movement on treasury shares (517) – 666 356 666 873 20 NON-DISTRIBUTABLE RESERVES Share- based payment reserve Cash flow hedge accounting reserve Capital redemption reserve Foreign currency translation reserve Legal reserves and other Total R'000 R'000 R'000 R'000 R'000 R'000 Balance at 1 July 2016 405 532 (14 020) 3 919 210 142 22 940 628 513 Movement during the year, net of tax (280 175) 19 732 – (171 885) 4 187 (428 141) Movement for the year 23 710 27 406 (42 432) 9 8 693 BMT 2 739 Equity Settled 20 971 Share-based expenses transferred to retained earnings (303 885) (303 885) Tax effect of net movement on cash flow hedge and investment (7 674) (2) (7 676) Actuarial profit on post-retirement medical liability 511 511 Other comprehensive income recycled to profit or loss (129 453) 3 669 (125 784) Balance at 30 June 2017 125 357 5 712 3 919 38 257 27 127 200 372 Movement during the year, net of tax 16 463 4 582 – 1 800 658 23 503 Movement for the year 22 749 6 364 – 1 800 31 30 944 BMT 323 Equity Settled 22 426 Tax effect of net movement on cash flow hedge and investment (1 782) (7) (1 789) Equity options exercised (6 286) – – (6 286) Actuarial profit on post-retirement medical liability 634 634 Balance at 30 June 2018 141 820 10 294 3 919 40 057 27 785 223 875 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 scheme. Refer 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. Capital redemption reserve The capital redemption reserve was created as a result of revaluation of shares in subsidiaries.