Kumba Annual Report 2005

COMPANY STATEMENT OF CHANGES IN EQUITY

for the year ended 31 December 2005

			Non-distributable reserves
			Foreign	Financial	Equity-
	Share	Share	currency	instruments	settled	Retained
	capital	premium	translation	revaluation	reserve	income	Total
	Rm	Rm	Rm	Rm	Rm	Rm	Rm
OPENING BALANCE
AT 1 JULY 2003	3	2 677	120	(7)		151	2 944
Prior year adjustments:
(refer note 2)
– unrealised exchange difference
of net investment in foreign
operations			(120)			120
– share-based payments					4	(3)	1
Restated opening balance	3	2 677		(7)	4	268	2 945
Net (losses)/gains not recognised
in income statement¹				5	30		35
Currency translation differences			(2)				(2)
Unrealised exchange difference
of net investment in foreign
operations adjusted to profit or loss			2				2
Share-based payment movement					30		30
Financial instruments fair value
movements recognised in equity				5			5
Net profit1						341	341
Dividends paid						(344)	(344)
Issue of share capital		132					132
BALANCE AT 31 DECEMBER 2004	3	2 809		(2)	34	265	3 109
Net gains not recognised in
income statement1				2	38		40
Share-based payments movement					38		38
Financial instruments fair value
movements recognised in equity				2			2
Net profit1						1 140	1 140
Dividends paid²						(1 430)	(1 430)
Issue of share capital		132					132
BALANCE AT 31 DECEMBER 2005	3	2 941			72	(25)	2 991

1.	Total recognised gains and losses R1 180 million (2004: R376 million).
2.	The company paid a dividend relating to the 2004 financial year of R273 million during March 2005, the STC applicable was R34 million. During September 2005 the company paid interim dividends of R1 157 million, the STC applicable was R145 million (R487 million interim dividend plus R670 million special dividend).