banner
banner

company changes in equity statement

for the year ended 31 August 2006
      Share   Share          
  Number   capital   premium   Distributable      
  of shares   (Note 17)   (Note 17)   reserve   Total  
  ’000   R’000   R’000   R’000   R’000  
Balance at 1 September 2004 361 205   3 612   909 227   148 789   1 061 628  
Shares issued in respect of options 9 055   91   57 243     57 334  
Share issue expenses written off     (273)     (273)  
Profit for the year       143 084   143 084  
Distributions to shareholders (see note 25 )       (123 640)   (123 640)  
Balance at 31 August 2005 370 260   3 703   966 197   168 233   1 138 133  
Shares issued in respect of options 12 160   122   74 461     74 583  
Share issue expenses written off     (189)     (189)  
Shares cancelled (26 932)   (270)   (182 990)   (99 525)   (282 785)  
Profit for the year       58 087   58 087  
Distributions to shareholders (see note 25)     (39 568)   (68 576)   (108 144)  
Balance at 31 August 2006 355 488   3 555   817 911   58 219   879 685  

During the year the company bought back 26 931 767 of its own ordinary shares of one cent each from a subsidiary for a consideration of R282.8 million and subsequently cancelled these shares. Of the total cost, R99.6 million was deducted from distributable reserves, R0.3 million from share capital and the balance of R182.9 million was deducted from share premium.