NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS l NOTE 3 |
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2014
Rm |
|
2013
Rm |
3. |
Investment in associates and joint ventures |
|
|
|
|
Unlisted shares at cost |
44 |
|
80 |
|
Impairments |
(12) |
|
(12 ) |
|
|
32 |
|
68 |
|
Indebtedness by associates and joint ventures |
16 |
|
16 |
|
Lereko Mobility (Pty) Ltd call option |
1 173 |
|
1 244 |
|
|
1 221 |
|
1 328 |
|
Lereko Mobility (Pty) Ltd (Lereko) call option |
|
|
|
|
Balance at beginning of year |
1 244 |
|
1 009 |
|
Fair value adjustment through profit or loss |
(71) |
|
235 |
|
Balance at end of year |
1 173 |
|
1 244 |
|
In September 2010, 14 516 617 preferred ordinary shares owned by Lereko were converted into ordinary shares. Lereko sold 8 651 673 ordinary shares to settle its third party funding obligation. The remaining 5 864 944 number of shares will be used to settle its obligation to Imperial Holdings Limited.
The Lereko call option asset is held at fair value and the fair value adjustment is recorded in profit or loss. |
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