| |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED |
| for the year ended 30 June 2007 |
| |
All monetary amounts are expressed
in millions of Rands |
2007 |
Restated
2006 |
| 12. |
OTHER CAPITAL RESERVES |
|
|
|
Capital redemption reserve fund |
|
|
|
At beginning of the year |
1,7 |
2,2 |
|
Transfer to retained earnings |
– |
(0,5) |
| |
|
1,7 |
1,7 |
|
Statutory reserve |
|
|
|
At beginning of the year |
25,0 |
24,7 |
|
Transfer from retained earnings |
– |
0,3 |
| |
|
25,0 |
25,0 |
|
Share-based payment reserve |
|
|
|
At beginning of the year |
30,6 |
6,5 |
|
Recognition of share-based payments |
20,5 |
24,1 |
| |
|
51,1 |
30,6 |
| |
|
77,8 |
57,3 |
|
The capital redemption reserve fund represents retained earnings transferred to
a non-distributable reserve on the redemption of previously issued redeemable
preference shares of group companies. |
|
|
|
The statutory reserve represents retained earnings of foreign subsidiary companies
that are not available for distribution to shareholders in accordance with local laws. |
|
|
|
The share-based payment reserve represents the total cost recognised for the
Group's equity-settled share-based payments. |
|
|
| 13. |
HEDGING AND TRANSLATION RESERVES |
|
|
|
Hedging reserve |
|
|
|
At beginning of the year |
– |
– |
|
Cash flow hedges |
(5,6) |
– |
| |
|
(5,6) |
– |
|
Foreign currency translation reserve |
|
|
|
At beginning of the year |
99,3 |
17,3 |
|
Foreign currency translation movements |
60,8 |
82,0 |
| |
|
160,1 |
99,3 |
| |
|
154,5 |
99,3 |
|
The hedging reserve represents the effective portion of fair value gains or losses of derivative financial instruments that have been
designated as cash flow hedges. |
| |
The foreign currency translation reserve is the result of exchange differences arising from the translation of the Group's foreign
subsidiary companies to Rands, being the functional currency of the holding company. |
|
| |
| |
|
|
