| SUMMARISED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | ||||||
| Unaudited six months ended 31 December 2017 R’000 |
Unaudited six months ended 31 December 2016 R’000 |
Audited year ended 30 June 2017 R’000 |
||||
| Balance at beginning of the period | 2 379 053 | 1 563 582 | 1 563 582 | |||
|---|---|---|---|---|---|---|
| Share-based awards reserve | 375 | 2 096 | 2 096 | |||
| Distributions to shareholders | (77 613) | (66 525) | (144 138) | |||
| Net profit for the period | 115 902 | 98 046 | 113 891 | |||
| Transferred to conditional put option reserve | – | 22 953 | 45 906 | |||
| Conditional put option reserve accruals | – | (22 953) | (45 906) | |||
| Profit attributable to minorities | 57 362 | 52 166 | 102 372 | |||
| Sanlam second tranche contribution | 55 874 | – | – | |||
| Conditional put option obligation reversal (NOTE 3) | – | – | 773 866 | |||
| Conditional put option obligation 2016 balance | – | – | 727 960 | |||
| Conditional put option finance obligation accrual | – | – | 45 906 | |||
| Minority interest in subsidiary | (367) | – | – | |||
| Distributions to subsidiary minorities | (3 328) | (18 265) | (32 616) | |||
| Balance at end of the period | 2 527 258 | 1 631 100 | 2 379 053 | |||
NOTE 3
Given the fulfilment of the Sanlam profit warranty, the conditional put option reserve was written back to capital and reserves.