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REVIEWED RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2008 AND CASH DIVIDEND DECLARATION
 
 
Condensed group statement of changes in equity  
 
For the year ended 30 September 2008    
 
 
            2008       2007    
            R million       R million    
    Notes     (Reviewed)      (Audited)    
Share capital and premium                  
Balance at the beginning of the year           90,8      76,9    
Issue of shares           16,1      14,0    
Shares cancelled in terms of buy-back of treasury shares-capital portion           —       (0,1)   
Balance at the end of the year           106,9       90,8    
Share-based payment reserve                    
Balance at the beginning of the year           649,9       40,4    
Share-based payment expense            14,4       607,4    
Contribution by Reunert to employees of joint venture and associate in terms of                    
broad-based scheme            —       2,1    
Balance at the end of the year           664,3        649,9    
Fair value adjustment reserve*                    
Balance at the beginning of the year           —       —    
Arising on fair valuation of financial instruments     7     660,3       —    
Deferred taxation on fair value gain           (39,2)      —    
Balance at the end of the year           621,1       —    
Equity transaction with BEE partner                    
Balance at the beginning of the year           —       —    
Purchase of a portion of BEEs interest in a subsidiary not previously recognised as                    
a minority     8     (35,3)      —    
Balance at the end of the year           (35,3)      —    
Treasury shares                    
Balance at the beginning of the year     9     (276,1)      (282,0)   
Shares cancelled in terms of buy-back of treasury shares – capital portion           —       0,1    
Shares cancelled in terms of buy-back of treasury shares – dividend portion           —       5,8    
Balance at the end of the year           (276,1)      (276,1)   
Non-distributable reserves                    
Balance at the beginning of the year – restated**            7,3        3,7    
Balance at the beginning of the year – as previously reported           —       104,8    
Share of associate company’ s retained earnings at the beginning of the year transferred                    
to retained earnings           —       (101,1)   
Translation reserve            0,7       (0,3)   
Reunert’ s share of previously equity-accounted associate’s actuarially valued                    
of medical aid provision***           (3,9)      3,9    
Balance at the end of the year           4,1       7,3    
Retained earnings                    
Balance at the beginning of the year – restated**           1 997,1       1 841,9    
Balance at the beginning of the year – as previously reported           1 997,1       1 740,8    
Share of associate company’ s retained earnings at the beginning of the year transferred                    
from non-distributable reserves           —       101,1    
Profit for the year           1 156,6       639,3    
Reunert’ s share of previously equity-accounted associate’s actuarially valued                     
of medical aid provision transferred from non-distributable reserves***           3,9       —    
Cash dividends declared and paid           (567,2)      (478,3)   
Shares cancelled in terms of buy-back of treasury shares – dividend portion           —       (5,8)   
Balance at the end of the year           2 590,4       1 997,1    
Equity attributable to equity holders of Reunert Limited           3 675,4       2 469,0    
Minority interest                    
Balance at the beginning of the year           14,4       38,2    
Profit for the year           7,1       7,6    
Dividends declared and paid           (1,8)      (4,5)   
Net movement in minorities           1,0       (26,9)   
Balance at the end of the year           20,7       14,4    
Total equity at the end of the year           3 696,1       2 483,4    
 
 
* This reserve relates to fair value adjustments on financial assets designated as “available-for-sale” financial assets in terms of IAS 39.
**This information has been restated to reflect the change in accounting policy that took place in the prior year whereby the retained    earnings were previously transferred to a non-distributable reserve.
***Since Reunert’s investment in NSN is no longer equity-accounted r to note 7). this reserve has been transferred to retained earnings     (refer to note 7).
 
     
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