| Notes to company financial statements l Note 1 |
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2016
R’000 |
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| 1 |
INVESTMENT IN GROUP COMPANIES |
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Joint-venture entity (refer below) |
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468 153 |
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468 153 |
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Subsidiary companies (refer below) |
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1 038 272 |
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2 439 |
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1 506 425 |
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470 592 |
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Investment in joint-venture entity |
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Assmang Proprietary Limited (Assmang) |
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1 774 103 (2016: 1 774 103) ordinary shares at cost |
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468 153 |
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468 153 |
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Investment in subsidiary companies (refer note 16) |
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Shares at cost |
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1 038 272 |
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2 439 |
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Amounts due by/(to) subsidiary companies (refer note 16) |
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Loan accounts receivable |
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4 518 291 |
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4 629 538 |
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Loan accounts payable |
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(1 082 027) |
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(1 079 305) |
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Per note 16 |
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3 436 264 |
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3 550 233 |
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Loan accounts receivable include cumulative redeemable preference shares in the amount of R3 868 million (2016: R4 034 million), issued to structured entities (SEs), recognised as subsidiary companies, with a coupon of 75% (2016: 75%) of the prime interest overdraft rate, published by the Standard Bank of South Africa Limited, and with no fixed terms of redemption. The remainder of the loan accounts receivable and all loan accounts payable are interest-free with no fixed terms of repayment.
Loan accounts payable are not due within 12 months. |
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Accrued preference dividends from SEs (included as part of other receivables) |
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613 577 |
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491 913 |
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| Notes to company financial statements l Note 1 |
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