| SUMMARISED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
| Audited year ended 30 June 2017 R’000 |
Restated audited year ended 30 June 2016 R’000 |
|||
| Balance at beginning of the period | 1 563 582 | 1 167 079 | ||
|---|---|---|---|---|
| Issue of share capital | – | 445 590 | ||
| Share-based awards reserve | 2 096 | 6 444 | ||
| Distribution to shareholders | (144 138) | (121 963) | ||
| Net profit for the year | 113 891 | 145 320 | ||
| Transferred to conditional put option reserve | 45 906 | 24 960 | ||
| Conditional put option reserve | (45 906) | (727 960) | ||
| Conditional put option obligation (NOTE 2) | – | (703 000) | ||
| Transferred from profit and loss | (45 906) | (24 960) | ||
| Profit attributable to minorities | 102 372 | 53 323 | ||
| SANLAM investment | – | 703 000 | ||
| Premium on subscription | – | 246 737 | ||
| Changes in ownership | – | 456 263 | ||
| Conditional put option obligation reversal (NOTE 2) | 773 866 | – | ||
| Conditional put option obligation 2016 balance | 727 960 | – | ||
| Conditional put finance obligation | 45 906 | – | ||
| AHL minorities share buy-back | – | (122 164) | ||
| Increase in shareholding of Klinikka | – | (525) | ||
| Distributions to subsidiary minorities | (32 616) | (9 522) | ||
| Balance at end of the period | 2 379 053 | 1 563 582 |
NOTE 2
Given that the SANLAM target profit undertakings were achieved, the Conditional put option finance obligation no longer applies. Accordingly the SANLAM obligation, together with the aggregate interest, notionally charged thereon through the statement of comprehensive income, has been reversed to equity.