	Share	Share	Retained	Other		Minority
	capital	premium	earnings	reserves	Total	reserves	Total
	Rm	Rm	Rm	Rm	Rm	Rm	Rm

Balance at 1 January 2007	*	23 804	28 974	(14 082)	38 696	4 033	42 729
Cash ow hedging reserve	—	—	—	30	30	—	30
Foreign currency translation differences	—	—	—	(1 240)	(1 240)	443	(797)
Net (expenses)/income recognised directly in equity	—	—	—	(1 210)	(1 210)	443	(767)
Net profit	—	—	10 608	—	10 608	1 308	11 916
Total recognised income and expenses for the period	—	—	10 608	(1 210)	9 398	1 751	11 149
Transfers between reserves	—	—	113	(113)	—	—	—
Dividends paid	—	—	(1 675)	—	(1 675)	(1 712)	(3 387)
Disposal of non-controlling interest	—	—	—	179	179	115	294
Purchasing of non-controlling interest	—	—	—	—	—	192	192
Issue of share capital	*	60	—	—	60	—	60
Share-based payments reserve	—	—	—	92	92	—	92
Revaluation of shareholders’ loans	—	—	—	565	565	—	565
Conversion of shareholders’ loans to preference shares	—	—	—	—	—	(192)	(192)
Balance at 31 December 2007	*	23 864	38 020	(14 569)	47 315	4 187	51 502
Cash ow hedging reserve	—	—	—	138	138	—	138
Foreign currency translation differences	—	—	—	11 920	11 920	1 303	13 223
Net income/(expenses) recognised directly in equity	—	—	—	12 058	12 058	1 303	13 361
Net profit	—	—	15 315	—	15 315	1 820	17 135
Total recognised income and expenses for the period	—	—	15 315	12 058	27 373	3 123	30 496
Transfers between reserves	—	—	(87)	87	—	—	—
Dividends paid	—	—	(2 536)	—	(2 536)	(3 978)	(6 514)
Disposal of non-controlling interest	—	—	—	4 020	4 020	909	4 929
Purchase of non-controlling interest	—	—	—	—	—	(85)	(85)
Issue of share capital	*	41	—	—	41	—	41
Share-based payments reserve	—	—	—	75	75	—	75
Revaluation of shareholders’ loans	—	—	—	44	44	—	44
Cancellation of the Ivory Coast Put option	—	—	—	54	54	—	54
Balance at 31 December 2008	*	23 905	50 712	1 769	76 386	4 156	80 542
Notes	15	15		16

*Amounts less than R1 million.

The notes are an integral part of these consolidated financial statements.