2008 Annual report - Sappi

Notes to the group annual financial statements // continued
for the year ended September 2008
18. Reconciliation of changes in equity
Ordinary
share
Number capital Non- Foreign
of Ordinary and distrib- currency
ordinary share Share share utable translation Retained
US$ million shares capital premium premium reserves reserve earnings Total
Balance –
September 2005 225.9 35 832 867 95 2 625 1,589
Transfer from
distributable reserves – – – – 5 – (5) –
Share-based payment – – – – 6 – – 6
Transfers to Sappi
Limited Share
Incentive Trust 1.1 – 5 5 – – – 5
Total recognised
expense – (6) (151) (157) 3 (35) 43 (146)
Dividends –
US$0.30 per share* – – – – – – (68) (68)
Balance –
September 2006 227.0 29 686 715 109 (33) 595 1,386
Transfer to distributable
reserves – – – – (13) – 13 –
Share-based payment – – – – 5 – – 5
Transfers to Sappi
Limited Share
Incentive Trust 1.5 – 14 14 – – – 14
Total recognised income – 5 91 96 13 42 328 479
Dividends –
US$0.30 per share* – – – – – – (68) (68)
Balance –
September 2007 228.5 34 791 825 114 9 868 1,816
Transfer from
distributable reserves – – – – 8 – (8) –
Share-based payments – – – – 10 – – 10
Transfers to Sappi
Limited Share
Incentive Trust 0.7 – 6 6 – – – 6
Total recognised
expense – (6) (118) (124) (8) (130) 108 (154)
Dividends –
US$0.32 per share* – – – – – – (73) (73)
Balance –
September 2008 229.2 28 679 707 124 (121) 895 1,605
Note reference: 17 19
* Dividends relate to the previous financial year’s earnings but were declared subsequent to year-end.
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