Integrated Reports Senwesbel Consolidated Financial Statements 2018 - Page 38

12.2 OTHER RESERVES 12.2.1 Equity of subsidiary GROUP Balance at the beginning of the year 2018 R’m 2017 R’m 4 3 Other comprehensive income - - Balance at the end of the year 4 4 *Senwes Capital (Pty) Ltd, a subsidiary of Senwes Ltd has repurchased 3 611 268 of the company’s shares at an average price of R12,21 per share (R44,1 million) during the year under review (2017: nil shares). These shares are held by Senwes Capital and are classified as treasury shares. Senwes Capital (Pty) Ltd, a subsidiary of Senwes Ltd, sold 360 109 shared (2017: 2 561 036) to the Senwes Share Incentive Scheme Trust during the year. Senwes Capital (Pty) Ltd held 8 953 968 (2017: 5 702 809) shares in Senwes Ltd as at 30 April 2018. The Senwes Share Incentive Scheme Trust bought 360 109 shares from Senwes Capital (Pty) Ltd. The Senwes Share Incentive Scheme Trust held 6 253 151 (2017: 6 201 934) shares as at 30 April 2018. 12.2.2 Fair value adjustments GROUP Balance at the beginning of the year Fair value adjustment Balance at the end of the year COMPANY 2018 R’m 2017 R’m 2018 R’m 2017 R’m (29) (29) 347 354 - - 39 (7) (29) (29) 386 347 12.2.3 Change in ownership and other reserves GROUP 2018 R’m 2017 R’m Opening balance 50 45 Purchase of interest from non-controlling shareholders 15 23 Movement in other reserves Net consideration for interest paid Balance at the end of the year (14) - - (18) 51 50 Change in ownership resulting from transactions at Senwesbel group level: During the 2018 financial year Senwesbel repurchased 2 717 527 of its own shares (2017: None). During the 2018 financial year Senwesbel Ltd sold 631 951 (2017: None) shares in Senwes Ltd. During the 2017 financial year Senwesbel Ltd purchased 1 689 548 shares in Senwes Ltd. Change in ownership resulting from transactions at Senwes group level: During 2015 BSI Ltd repurchased the 25% non-controlling interest held in Mozambique. During the 2014 financial year Prodist (Pty) Ltd a subsidiary of Hinterland SA (Pty) Ltd, issued shares to Mica, who obtained a 25% shareholding in Prodist. Hinterland owns 75% (2016: 75%) of Prodist after the issuing of shares. Where the holding co