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15. Reserves
15.1 Non-distributable reserves
GROUP
June 2015
R000
GROUP
June 2014
R000
COMPANY
June 2015
R000
COMPANY
June 2014
R000
Revaluation of: Investment property
13 281 174
10 814 061
12 683 886
10 216 772
Listed property securities
616 759
616 759
616 759
616 759
Derivative instruments
10 706
(8 851)
28 813
(6 833)
Realised surplus/(loss) on disposal of: Investment properties
163 656
139 413
163 656
139 413
Listed property
securities
276 630
276 630
276 630
276 630
Subsidiaries
(118 351)
Associate
17 431
17 431
21 400
21 400
Shares (African Land)
(2 709)
Other
(22 493)
(15 856)
(22 534)
(15 897)
Amortised debenture premium
1 256 148
1 256 148
Non-distributable reserves of associate
125 344
125 344
121 375
121 375
Impairment of goodwill
(559 713)
(555 433)
25 400
25 400
Gain on bargain purchase (African Land)
191 235
102 895
Impairment of intercompany loan
(5 682)
(5 682)
Impairment of investment in subsidiary (Word4Word)
(29 566)
(25 286)
13 979 669
12 768 541
13 880 137
12 620 199
15.2 Share-based payment reserve
(1)
Share-based payment
8 356
1 649
8 356
1 649
8 356
1 649
8 356
1 649
Total
13 988 025
12 770 190
13 888 493
12 621 848
(1)
Relates to the amortised share-based payment cost for the Hyprop Employee Incentive Scheme (CUP)
16. Foreign currency translation reserve
The foreign currency translation reserve arises from the conversion of Hyprop Mauritius (and African Land as at 30 June 2014) from
their functional currency, US Dollar, to South African Rand on consolidation. Refer to note 4.
GROUP
June 2015
R000
GROUP
June 2014
R000
COMPANY
June 2015
R000
COMPANY
June 2014
R000
Opening balance
8 074
313
Movement
5 329
8 894
Non-controlling interest
(1 133)
Closing balance
13 403
8 074
The closing exchange rate at 30 June 2015 was R12,28:USD1 (2014: R10,58:USD1).
The average exchange rate for the 12 months ended 30 June 2015 was R11,45:USD1 (2014: R10,37:USD1)
121
Hyprop Investments Limited
Integrated Report 2015