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2015

RCS GROUP CONSOLIDATED FINANCIAL STATEMENTS

37

9 Months ended

12 Months ended

31 December 2015

31 March 2015

14.

Stated capital (continued)

Reconciliation of number of shares

Opening balance

40 000

40 000

Share issue

40 000

Share buy-back

(

40 000)

Closing balance

40 000

40 000

A distribution to shareholder amounting to R250 million was declared after the date of the reporting period but before

the financial statements were authorised for issue (31 March 2015: nil).

15.

Foreign currency translation reserve

The foreign currency reserve comprises gains and losses arising on translation of the assets, liabilities, income and expenses

of foreign operations in Botswana.

31 December 2015

31 March 2015

R’000

R’000

Balance at beginning of period

1 673

1 709

Foreign currency translation differences for foreign operation

7 625

(36)

Balance at end of period

9 298

1 673

16.

Cash flowhedge reserve

The cash flow hedge reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging

instrument related to hedged transactions that have not yet occurred.

Balance at beginning of period

10 960

28 910

Effective portion of changes in fair value, net of taxation

(712)

(17 950)

Disposal of cash flow hedge reserve, net of taxation

(10 248)

Balance at end of period

10 960

Comprises as follows:

Interest rate swaps (assets) - fair value

15 249

Interest rate swaps (liabilities) - fair value

(27)

Total fair value of interest rate swaps

15 222

Deferred taxation on interest rate swaps

(4 262)

Total deferred taxation on interest rate swaps

(4 262)

10 960

Interest rate swaps were disposed of during the year for R14,2 million. The reclassification of other comprehensive income

to profit or loss has been included in note 23.

Number of shares

NotestotheConsolidatedFinancialStatements

(continued)

for the period ended 31 December 2015