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
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