PROVISIONAL CONDENSED REVIEWED CONSOLIDATED FINANCIAL STATEMENTS and cash dividend declaration for the year ended 30 September 2020

Condensed consolidated
statement of changes in equity

For the year ended 30 September 2020

  Reviewed Audited
Rm  2020 2019
Share capital 389 388
Balance at the beginning of the year 388 374
Issue of shares 1 14
Share-based payment reserves 217 229
Balance at the beginning of the year 229 256
In terms of conditional share plan (CSP)                   9 1
Shares acquired to settle CSP (54) (74)
In terms of the empowerment transaction - 3
Transfer from retained earnings 33 43
Equity transactions/put option with non-controlling shareholders - (108)
Balance at the beginning of the year (108) (108)
Net changes in non-controlling interests 14 (27)
Transfer from retained earnings 94 27
Empowerment shares1 (276) (276)
Treasury shares2 342) (342)
Equity forward contract3 (75) -
Balance at the beginning of the year - -
Recognised during the year (75) -
Foreign currency translation reserves 16 (11)
Balance at the beginning of the year (11) (23)
Other comprehensive income 27 2
Recycled to the statement of profit or loss on disposal of foreign subsidiary - 10
Translation loss on net investment in foreign subsidiary (109) (47)
Balance at the beginning of the year (47) (42)
Other comprehensive income (62) (5)
Fair value reserve 7 6
Balance at the beginning of the year 6 -
Other comprehensive income 1 6
Retained earnings 6 678 7 473
Balance at 30 September 2018 - 7 599
IFRS 9 and 15 transitional adjustments  - (56)
Balance at the beginning of the year 7 473 7 543
Profit for the year attributable to equity holders of Reunert 47 790
Cash dividends paid              (723) 803)
Tax deduction in terms of CSP 8 13
Transfer to reserves (127) (70)
Equity attributable to equity holders of Reunert 6 505 7 312
Non-controlling interests 38 119
Balance at 30 September 2018 - 88
IFRS 9 and 15 transitional adjustments  - (9)
Balance at the beginning of the year 119 79
Share of total comprehensive income (62) 16
Cash dividends paid (4) (14)
Subscription for shares by non-controlling shareholder - 43
Net changes in non-controlling interests (15) (5)
Total equity at the end of the year
6 543 7 431
1 This is the cost of Reunert Limited shares held by Bargenel Investments Proprietary Limited (Bargenel), a company sold by Reunert to its
empowerment partner in 2007. Until the amount owing by the empowerment partner is repaid to Reunert, Bargenel is consolidated by the Group.
2 Ordinary Reunert shares bought back in the open market and held by a subsidiary: 4 997 698 shares (2019: 4 997 698 shares).
3 At the end of the financial year, the Group, on behalf of the CSP, entered into a hedging forward contract with an independent third party in
terms of which 2 346 930 Reunert ordinary shares will be acquired by the independent third party for purposes of hedging the Group’s potential obligation to deliver Reunert ordinary shares to CSP participants.