37 EVENT AFTER REPORTING PERIOD
 

Disposal of subsidiary

Subsequent to year-end, on 14 August 2019, wholly owned subsidiary Wonderstone entered into a sale of shares agreement to dispose of its investment in Group Line Projects Proprietary Limited (Group Line), a wholly owned subsidiary of Wonderstone.

In terms of the agreement, Wonderstone agreed to sell its entire shareholding in Group Line for a purchase price of R6 million.

Net asset value of Group Line business disposed of   R’000   
— property, plant and equipment   1 928   
— inventories   11 828   
— trade and other receivables   10 367   
— cash resources   4 964   
— trade and other payables   (5 778)  
— short-term provisions   (402)  
    22 907   
Sale proceeds receivable   (6 000)  
Loss on disposal of investment in subsidiary company   16 907   

As the sale of shares agreement in respect of Group Line was only entered into subsequent to year-end, the criteria in terms of IFRS 5 for this subsidiary to be identified as disposal group held-for-sale were not met.

Dividend declared

On 4 September 2019, the board declared a final dividend of 1 400 cents per share, amounting to R1 954,5 million, which was paid to shareholders on 30 September 2019.

Dividend received

On 10 September 2019, a dividend of R2 billion was received from Assmang.