| |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED |
| for the year ended 30 June 2007 |
| |
All monetary amounts are expressed
in millions of Rands |
2007 |
Restated
2006 |
| 14. |
MINORITY INTEREST |
|
|
|
|
The minority interest comprise: |
|
|
|
| 14.1 |
Interest of minority shareholders in reserves |
|
|
|
|
At beginning of the year |
|
85,8 |
67,0 |
|
Share of attributable earnings |
|
93,6 |
48,6 |
|
Dividends declared and paid |
|
(31,2) |
(28,9) |
|
Recognition of share based payments |
|
– |
0,5 |
|
Acquisition of businesses |
|
10,7 |
11,5 |
|
Purchase of minorities |
|
– |
(14,2) |
|
Exchange rate and other adjustments |
|
(0,2) |
1,3 |
| |
|
|
158,7 |
85,8 |
| 14.2 |
Equity loans from minority shareholders |
|
|
|
|
At beginning of the year |
|
22,8 |
29,9 |
|
Additional loans raised |
|
– |
2,8 |
|
Loan repayments |
|
(2,0) |
(10,4) |
|
Exchange rate and other adjustment |
|
(1,7) |
0,5 |
| |
|
|
19,1 |
22,8 |
|
The loans from the minority shareholders of subsidiary companies are unsecured, have no fixed repayment terms and do not bear any interest. |
|
|
|
| |
Balance at year end |
|
177,8 |
108,6 |
| 15. |
SECURED LIABILITIES |
|
|
|
|
Liabilities of the Group are secured as follows: |
|
|
|
|
Loans secured by inventories (2006: book value R1,2 million) |
|
– |
5,3 |
|
Loans secured over plant and machinery with a book value of R261,8 million (2006: R126,2 million) |
|
167,4 |
53,0 |
|
Loans secured by investment in associate company with a market value of R387,2 million (2006: R222,2 million) |
|
211,2 |
213,8 |
| |
|
|
378,6 |
272,1 |
|
Reflected in the balance sheet under: |
|
|
|
|
Long-term loans (note 16) |
|
301,8 |
240,0 |
|
Bank overdrafts and short-term loans (note 23) |
|
76,8 |
32,1 |
| |
|
|
378,6 |
272,1 |
| 16. |
LONG-TERM LOANS |
|
|
|
| 16.1 |
Interest bearing secured loans |
|
|
|
|
Payable |
|
|
|
|
Within 1 year |
|
76,8 |
32,1 |
|
Within the 2nd year |
|
37,0 |
13,3 |
|
Within years 3 – 5 |
|
53,6 |
13,0 |
| |
Payable after the 5th year |
|
211,2 |
213,7 |
|
|
|
378,6 |
272,1 |
|
Less: Current portion (note 23) |
|
(76,8) |
(32,1) |
| |
|
|
301,8 |
240,0 |
|
| |
| |
|
|
