Audited summarised consolidated financial statement of changes in equity

for the year ended 31 March 2018

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  Other reserves            
Stated
capital
Rm
Foreign
currency
translation
reserve
Rm
Available-
for-
sale
financial
asset
Rm
Hedging
reserve
Rm
Equity
compensation
reserve
Rm
Retained
profit
Rm
Equity
attributable
to
shareholders
of PPC Ltd
Rm
Non-
controlling
interests
Rm
Total
equity
Rm
 
Balance at 31 March 2016 (audited) (1 113) 1 245  14  34  265  2 583  3 028  535  3 563    
Acquisition of 3Q, settled via the issue of shares (refer note 20) 135  —  —  —  —  —  135  —  135    
Dividends declared  —  —  —  —  —  (8) (8) —  (8)   
IFRS 2 charges  —  —  —  —  245  —  245  —  245    
Increase in stated capital from issuance of shares following the rights issue (net of transaction costs) 3 805  —  —  —  —  —  3 805  —  3 805    
Proceeds from sale of nil paid letters by consolidated BBBEE entities  —  —  —  —  137  —  137  —  137    
Sale of shares, treated as treasury shares, by consolidated BBBEE entity  37  —  —  —  —  —  37  —  37    
Shares issued to strategic black partners through the maturity of the company's first BBBEE transaction(a)  1 041  —  —  —  —  —  1 041  —  1 041    
Shares purchased in terms of FSP share incentive scheme treated as treasury shares  (74) —  —  —  —  —  (74) —  (74)   
Total comprehensive (loss)/income  —  (354) —  (34) —  93  (295) (201) (496)   
Vesting of shares held by certain BBBEE 1 entities  88  —  —  —  (88) —  —  —  —    
Balance at 31 March 2017 (audited) 3 919  891  14  —  559  2 668  8 051  334  8 385    
IFRS 2 charges  —  —    —  72  —  72  —  72    
Sale of shares, treated as treasury shares, by consolidated BBBEE entity  64  —  —  —  —  —  64  —  64    
Shares purchased in terms of FSP share incentive scheme treated as treasury shares  (72) —  —  —  —  —  (72) —  (72)   
Total comprehensive (loss)/income  —  (496) —  —  —  149  (347) (214) (561)   
Vesting of shares held in terms of FSP share incentive scheme  73  —  —  —  (73) —  —  —  —    
Balance at 31 March 2018 (audited) 3 984  395  14  —  558  2 817  7 768  120  7 888    
(a) In 2008 PPC announced its first broad-based black economic transaction for a period of eight years, which resulted in an effective BBBEE ownership of 15,29%. In terms of the transaction agreements, the 48 557 982 PPC shares held by the strategic black partners (SBPs) (including community service groups (CSGs)) were repurchased by PPC at R0,10 per share and the SBPs and CSGs were required to subscribe for new PPC shares at R66,84 per share, subject to their funding position. The SBPs and CSGs subscribed for 15 571 174 new PPC ordinary shares in December 2016.