CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

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	Unaudited  six months  ended  31 December  2021  R'000	Unaudited  six months  ended  31 December  2020  R'000	Audited  year ended  30 June  2021  R'000
Balance at beginning of the period	3 255 724	3 119 095	3 119 095
Issue of share capital*	10	7	7
Share premium*	6 172	4 394	4 395
Vested Share-based awards*	(6 723)	(4 401)	(4 402)
Share-based awards reserve	2 533	6 464	10 787
Distributions to shareholders	(97 426)	(97 517)	(194 788)
Net profit for the period	155 495	144 453	310 655
Profit attributable to minorities	79 837	80 426	165 251
Changes in ownership	—	(20 000)	(20 000)
Disposal of subsidiary	—	—	(2 353)
Distributions to non-controlling interests	(48 337)	(50 091)	(132 923)
Balance at end of the period	3 347 285	3 182 830	3 255 724

*	During the period ending December 2021, 1 056 669 shares vested as follows:
	— 90 000 shares were exercised at the weighted average price of R3.55 and the grant date price was R6.20; — 440 002 shares were exercised at the weighted average price of R5.26 and the grant date price was R6.20; and — 526 667 shares were exercised at the weighted average price of R5.26 and the grant date price was R5.50.
At the end of the December 2021 period, 20 430 000 shares were outstanding for the incentive share scheme.
The fair value of the shares granted was determined by obtaining the share price as traded on the JSE.