SUMMARISED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the year ended 31 March

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Share    
capital(1)
R'm    
Other    
reserves(2)
R'm    
Retained    
earnings    
R'm    
Non-    
controlling    
interests    
R'm    
Total    
equity    
R'm    
Balance at 1 April 2017     –     (9 721)    (3 157)    (1 037)    (13 915)   
Profit for the year     –     –     1 456     1 082     2 538    
Other comprehensive income     –     3 621     –     526     4 147    
Total comprehensive income for the year     –     3 621     1 456     1 608     6 685    
Share-based compensation movement     –     –     75     –     75    
Transactions with non-controlling shareholders     –     –     76     (79)    (3)   
Foreign exchange movements on equity reserves     –     (1 056)    –     (443)    (1 499)   
Contribution from parent(3)     –     –     9 409     –     9 409    
Dividends declared     –     –     (5 353)    (1 392)    (6 745)   
Balance at 1 April 2018     –     (7 156)    2 506     (1 343)    (5 993)   
Change in accounting policy (note 1)               17     18     35    
Restated balance at 1 April 2018     –     (7 156)    2 523     (1 325)    (5 958)   
Loss for the year     –     –     (1 644)    368     (1 276)   
Other comprehensive income     –     (5 078)    –     (287)    (5 365)   
Total comprehensive loss for the year     –     (5 078)    (1 644)    81     (6 641)   
Share-based compensation movement(4)     –     –     3 246     60     3 306    
Transactions with non-controlling shareholders     –     –     (218)    19     (199)   
Foreign exchange movements on equity reserves     –     (211)    –     (115)    (326)   
Contribution from parent(5)     –     –     26 356     –     26 356    
Dividends declared(6)     –     –     (5 280)    (1 463)    (6 743)   
Balance at 31 March 2019     –     (12 445)    24 983     (2 743)    9 795    
(1) Upon unbundling from Naspers Limited on 4 March 2019, 438 837 468 ordinary shares were issued at nominal value.
(2) Other reserves include the hedging reserve, fair-value reserve and foreign currency translation reserve.
(3) Relates primarily to related party loan waivers between the group and Naspers Limited group companies. This includes a loan waiver of R7bn from Buscapé Company Limited (a Naspers group company).
(4) Includes empowerment transaction of R2.6bn (refer to note 6).
(5) Relates to contribution of businesses and the capitalisation of loans as part of the unbundling from Naspers Limited (refer to note 9).
(6) Relates to dividends paid by companies in the group to previous legal owners. Non-controlling interest relates to dividends paid primarily to Phuthuma Nathi.