Annual Financial Statements - First National Bank of Namibia

Statements of Changes in Equityfor the year ended 30 JuneNon-distributable reservesN$ thousandShare Share General Total sharecapitalpremium risk reserve Other Distributable holders’(Note 31) (Note 31) (Note 32) (Note 32) reserves equityCompanyBalance as at 1 July 2004 1 440 308 427 743 878 1 053 745IFRS adjustments: Reversal of share of associate income(refer accounting policy note 1.27) (691) (691)Restated balance as at 1 July 2004 1 440 308 427 743 187 1 053 054Earnings 194 935 194 935Preference share dividend: 30 June 2005 (5 025) (5 025)Ordinary final dividend: 22 October 2004 (35 204) (35 204)Ordinary interim dividend: 14 April 2005 (39 116) (39 116)Conversion/redemption of preference shareslinked to the ringfenced book: (102) (27 617) (27 719)- Final adjustment to Swabou purchase price (17 347) (17 347)- Redemption of preference shares in cash (30) (10 342) (10 372)- Conversion of preference shares to ordinary shares (72) 72- Preference shares converted (106) (26 980) (27 086)- Ordinary shares issued 34 27 052 27 086Balance as at 30 June 2005 1 338 280 810 858 777 1 140 925Balance as at 30 June 2005 as previously stated 1 338 280 810 859 829 1 141 977IFRS adjustments on 1 July 2004 and movement 2005 (1 052) (1 052)Restated balance as at 30 June 2005 1 338 280 810 858 777 1 140 925Earnings 12 963 12 963BEE Consortium share option cost 1 211 1 211Preference share dividends: 30 June 2006 (1 792) (1 792)Ordinary final dividend: 21 October 2005 (45 491) (45 491)Ordinary interim dividend: 7 April 2006 (45 491) (45 491)Balance as at 30 June 2006 1 338 280 810 1 211 778 966 1 062 32566 FNB Namibia Group Annual Report 2006