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    Group statement of changes in equity  
       
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      Non-distributable reserves   Non-distributable reserves            
  Share
capital
Rm		 Share 
prem-
ium 
Rm 		 Foreign
currency 
trans-
lation 
Rm 		 Financial 
instru-
ments 
reval-
uation 
Rm 		 Equity- 
settled 
reserve 
Rm 		 Insu-
rance 
reserve 
Rm 		 Retained 
income 
Rm		 Attrib-
utable to 
equity holders 
of the parent 
Rm 		 Minority 
interest 
Rm 		 Total 
equity 
Rm 		  
OPENING BALANCE AT 31 DECEMBER 2005 3 2 937  (29) (5) 88    4 325  7 319  9  7 328   
Net gains/(losses) not recognised in income statement1     433  31  714      1 178    1 178   
Currency translation differences     438  1        439    439   
Share of reserve movements of associates     6  (1) 3      8    8   
Share-based payments movement         711      711    711   
Financial instruments fair value movements recognised                      
in equity3                      
– recognised in current year profit or loss       8        8    8   
– recognised in equity       33        33    33   
Deferred taxation     (11) (10)       (21)   (21)  
Net profit1             19 169  19 169  27  19 196   
Dividends paid2             (1 628) (1 628) (9) (1 637)  
Share repurchase2             (1 763) (1 763)   (1 763)  
Dividend in specie – fair value     (25) (2)     (18 305) (18 332)   (18 332)  
Dividend in specie – fair value adjustment             (17 966) (17 966)   (17 966)  
Dividend in specie – net asset value     (25) (2)     (339) (366)   (366)  
Issue of share capital 1 2 371            2 372    2 372   
Issue of share capital to share trusts    (173)           (173)   (173)  
BALANCE AT 31 DECEMBER 2006 4 5 135  379  24  802    1 798  8 142  27  8 169   
Net gains/(losses) not recognised in income statement1     148  (17) 182    9  322  (4) 318   
Currency translation differences     179  (3)       176    176   
Share of reserve movements of associates     (13) 1  49    9  46    46   
Share-based payments movement         133      133    133   
Financial instruments fair value movements recognised                      
in equity3                      
– recognised in current year profit or loss                      
– recognised in equity       (36)       (36) (4) (40)  
– fair value adjustment       1        1    1   
Deferred taxation     (18) 20        2    2   
Net profit1             1 427  1 427  20  1 447   
Dividends paid2             (208) (208) (11) (219)  
Issue of share capital4   23            23    23   
Share placement5   91            91    91   
– issue   640            640    640   
– repurchase   (460)           (460)   (460)  
– expenses   (89)           (89)   (89)  
Transfer to retained income         (16)   16         
Minority share-buy out                 (13) (13)  
Special purpose entities now consolidated             7  7    7   
Prior year dividend in specie reclassification   (3 186)         3 186         
BALANCE AT 31 DECEMBER 2007 4 2 063  527 7  968    6 235  9 804  19  9 823   
 
 
     
 
 
  1. 1Total recognised gains and losses R1 749 million (2006: R20 347 million).
  2. 2The STC on these dividends amount to Rnil million after taking into account STC credits (2006: R424 million). 3Gains or losses through hedging reserve.
  3. 4Issued to the Kumba Resources Management Share Trust due to options exercised.
  4. 5Repurchase of 10 million shares from Anglo South Africa (Pty) Limited on 13 April 2007 at R45,99 per share and the subsequent re-issue of 10 million new Exxaro shares at R64 per share. STC on the share repurchase of R57,5 million is included in net profit.

Foreign currency translation reserve

The foreign currency translation reserve comprises all foreign exchange differences arising from the translation of the financial statements of foreign entities that are not integral to the operations of the group.

Financial instruments revaluation reserve

The financial instruments revaluation reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments where the hedged transaction has not yet occurred.

Equity-settled reserve

The equity-settled reserve represents the fair value of services received and settled by equity instruments granted.

Insurance reserve

The insurance reserve represents the unrealised portion of commission receivable from re-insurers.
 
 
 
     
     
     
 
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