Agribel Annual Financial Review | Page 45

AGRIBEL HOLDINGS LTD FINANCIAL REVIEW 2021
14 . ISSUED CAPITAL
Authorised :
160 542 874 ( 2021 and 2020 ) ordinary shares of no par value Issued :
123 470 532 ( 2020 : 116 091 853 ) ordinary shares of no par value *
GROUP
COMPANY
2021 R ' m
2020 R ' m
2021 R ' m
2020 R ' m
54
13
54
13
* 7,378,679 shares were issued as part of the group ' s acquisition of its investment in Suidwes Holdings ( Pty ) Ltd , refer to note 6.2 . ( 2020 : 1 482 546 shares were issued as part of the KLK acquisition ).
15 .
RESERVES
15.1
Share premium
GROUP
COMPANY
2021 R ' m
2020 R ' m
2021 R ' m
2020 R ' m
Balance at the beginning of the year
498
498
498
498
Balance at the end of the year
498
498
498
498
15.2 Other reserves 15.2.1 Fair value adjustments
GROUP
COMPANY
2021 R ' m
2020 R ' m
2021 R ' m
2020 R ' m
Balance at the beginning of the year
-
( 29 )
384
386
Recycling of fair value adjustments *
-
29
3
-
Fair value adjustment
1
-
80
( 2 )
Balance at the end of the year
1
-
467
384
* The reserves being recycled relate to the fair value adjustments from the conversion of the investment in Senwes Ltd from an investment in an
associate to an investment in a subsidiary .
15.2.2 Change in ownership and other reserves
GROUP
2021 R ' m
2020 R ' m
Opening balance
1
51
Purchase of interest from non-controlling shareholders
587
6
Recycling of reserves
18
-
Movement in other reserves
14
( 55 )
Share of other comprehensive income
-
( 1 )
Balance at the end of the year
620
1
Change in ownership resulting from transactions at Agribel Holdings Ltd group level : Agribel Holdings Ltd did not repurchase any of its own shares ( 2020 : Nil ). Agribel Holdings Ltd sold 4 000 000 of its shares in Senwes Ltd ( 2020 : 666 231 ). The cash flows relating to these transactions amounted to R51 million ( 2020 : R9 million ). Agribel Holdings Ltd purchased 37 395 213 shares in Senwes Ltd ( 2020 : 1 111 908 ). The cash flows relating to these transactions amounted to R377 million ( 2020 : Rnil ). Agribel Holdings Ltd received 4 948 812 shares in Senwes as consideration for the shares in Suidwes Holdings ( Pty ) Ltd .
Change in ownership resulting from transactions at Senwes Group level : Refer to the transactions described in note 6.2 for details regarding the changes in ownership on a Senwes Group level . Net treasury shares sold include a non-cash flow component of R64 million relating to disposal of shares by Senwes Capital ( Pty ) Ltd to Senwes Ltd and the LTI share vesting of tranche 4 of R22 million . ( 2020 : Include a non-cash flow component of R34 million relating to disposal of shares by Senwes Capital ( Pty ) Ltd to Senwes Ltd .)
Agribel Holdings Limited Reg nr : 1996 / 017629 / 06 AGRIBEL ANNUAL FINANCIAL REVIEW 2021
43