Notes to the Group financial statements | Note 19
for the year ended 31 December 2010 |
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December
2010
Rm
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December
2009
Rm |
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| 19. |
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RESERVES |
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Balance at beginning of year |
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(15 276) |
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1 769 |
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Purchase/sale of non-controlling interest |
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60 |
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(43) |
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Transfer from retained earnings |
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— |
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188 |
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Share-based payment reserve |
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1 640 |
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84 |
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Cash flow hedging reserve |
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77 |
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(191) |
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Other reserves |
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93 |
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(116) |
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Foreign currency translation differences of foreign subsidiaries and joint ventures |
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(9 318) |
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(16 967) |
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Balance at end of year |
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(22 724) |
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(15 276) |
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Consisting of: |
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Contingency reserve (as required by insurance regulations)* |
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39 |
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29 |
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Statutory reserve (as required by Rwanda and Congo-Brazzaville legislation)** |
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235 |
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168 |
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Purchase/sale of non-controlling interest |
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(10 690) |
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(10 750) |
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Shareholders’ loan revaluation reserve |
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(244) |
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(244) |
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Cash ow hedging reserve |
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— |
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(77) |
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Share-based payment reserve |
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1 968 |
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328 |
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Other reserves |
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(15) |
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(31) |
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Foreign currency translation differences of foreign subsidiaries and joint ventures |
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(14 017) |
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(4 699) |
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(22 724) |
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(15 276) |
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* |
A contingency reserve has been created in terms of the Short-term Insurance Act, 1988. Transfers to the contingency reserve are treated as an appropriation of income, and the
balance of the reserve is disclosed in the statement of financial position as a non-distributable reserve, forming part of shareholders’ funds. On dissolution of the special purpose
entities to which these reserves relate, they will become available for distribution. |
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** |
A statutory reserve has been created in terms of local legislation. Transfers to the statutory reserve are treated as an appropriation of income, and the balance of the reserve is
disclosed in the statement of financial position as a non-distributable reserve, forming part of the shareholders’ funds. |
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