15.2 OTHER RESERVES
15.2.1 Fair value adjustments
GROUP
COMPANY
2020
2019
2020
2019
R’m
R’m
R’m
R’m
Balance at the beginning of the year (29) (29) 386 386
Recycling of fair value adjustments * 29 - - -
Fair value adjustment - - (2) -
Balance at the end of the year - (29) 384 386
* The reserves being recycled relate to the fair value adjustment 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
2020
R’m
2019
R’m
Opening balance 51 55
Purchase of interest from non-controlling
shareholders
6 6
Movement in other reserves (55) (11)
Share of other comprehensive income (1) 1
Balance at the end of the year 1 51
The reserve relates to fair value adjustments in respect of Molemi Sele Management (Pty) Ltd. During the year the
investment in Suidwes Holdings Ltd were impaired to Rnil.
Change in ownership resulting from transactions at Senwesbel Group level:
During the year Senwesbel Ltd did not repurchase any of its own shares (2019: Nil).
During the year Senwesbel Ltd sold 666 231 of its shares in Senwes Ltd (2019: Nil). The cash flows relating to these
transactions amounted to R9 million.
During the year Senwesbel Ltd purchased 1 111 908 shares in Senwes Ltd (2019: 638 414). This was a non-cash flow
transaction.
Change in ownership resulting from transactions at Senwes Group level:
During the 2014 financial year Hinterland SA (Pty) Ltd (“Hinterland SA”), a subsidiary of Hinterland Holdings (Pty)
Ltd (“Hinterland”), issued shares to LRB, which obtained a 25% shareholding in Hinterland SA. Hinterland owns 100%
(2018: 75%) of Hinterland SA after the issuing of shares. Where the holding company’s share changes in a subsidiary,
without losing control, the profit or loss will be accounted for in other comprehensive income (equity).
During the 2019 financial year, LRB sold its 25% shareholding in Hinterland SA, previously known as Prodist, to Hinterland.
This resulted in Hinterland holding a 100% interest in Hinterland SA. This change occurred on 13 August 2018.
Net treasury shares sold/(purchased) includes a non-cash flow component of R34 million (3 066 207 shares)
relating to disposal of shares by Senwes Capital (Pty) Ltd to Senwes Ltd. (2019: No non-cash flow component).
15.2.3 Share-based payment reserve
GROUP
2020
R’m
2019
R’m
Balance at the beginning of the year 23 30
Increase/(decrease) in reserve for the year 16 (7)
Balance at the end of the year 39 23
Senwesbel Limited Reg no: 1996/017629/06 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 50