Note 6

Print this page
close window
close window




        2009     2008  
        R’000     R’000  
6. Investments in subsidiaries and joint venture              
6.1 Investments in subsidiaries              
  Shares at cost less amounts written off     3 287 162     3 264 085  
  Loans owing by subsidiaries     1 151 391     1 174 310  
  Loans owing to subsidiaries     (48 000)     (48 866)  
        4 390 553     4 389 529  
    Shares at              
    cost less     Loans     Loans  
    amounts     owing by     owing to  
    written off     subsidiaries     subsidiaries  
    R’000     R’000     R’000  
  Details are reflected below:                
  2009                
  Africa Prepaid Services (Proprietary) Limited1 61 520     35 112      
  Activi Technology Services (Proprietary) Limited 5 000     1 962      
  Blue Label Telecoms USA Incorporated *     50 540      
  Blue Label Investments (Proprietary) Limited 108 416     595      
  Blue Label Mexico S.A. de C.V. 26 650          
  Blue Label One (Proprietary) Limited 40 000     713      
  Budding Trade (Proprietary) Limited 6 000          
  Celebia Holdings Limited 1     38      
  Cellfind SA (Proprietary) Limited 290 000     739      
  Content Connect Africa (Proprietary) Limited1 27 000     719      
  Content Connect Australia (Proprietary) Limited2 1 926     2 713      
  Datacel Direct (Proprietary) Limited1 150 000     6 293      
  Gold Label Investments (Proprietary) Limited 29 400     149 315      
  Kwikpay SA (Proprietary) Limited 22 500     735      
  Matragon (Proprietary) Limited 194 000     32 996      
  Matrix Investments No 4 (Proprietary) Limited 4 160          
  The Postpaid company (Proprietary) Limited1 *     942      
  SharedPhone International (Proprietary) Limited1 20 000     2 745      
  The Prepaid Company (Proprietary) Limited 2 150 214     861 277**      
  Uninex (Proprietary) Limited *     976      
  Velociti (Proprietary) Limited 7 185     1 806      
  Ventury Group (Proprietary) Limited 98 406     1 055     (48 000)  
  Virtual Voucher (Proprietary) Limited 44 784     120      
    3 287 162     1 151 391     (48 000)  
  2008                
  Africa Prepaid Services (Proprietary) Limited1 61 520     13 539      
  Activi Technology Services (Proprietary) Limited 5 000          
  Blue Label Investments (Proprietary) Limited 108 416         (866)  
  Blue Label One (Proprietary) Limited 40 000          
  Budding Trade (Proprietary) Limited 6 000          
  Cellfind SA (Proprietary) Limited 290 000          
  Content Connect Africa (Proprietary) Limited 30 000          
  Datacel Direct (Proprietary) Limited1 150 000     7 120      
  E-Voucha (Proprietary) Limited 2 500          
  Gold Label Investments (Proprietary) Limited 29 400     100 340      
  Kwikpay SA (Proprietary) Limited 22 500          
  Matragon (Proprietary) Limited 194 000     30 377      
  Matrix Investments No 4 (Proprietary) Limited 4 160          
  The Postpaid Company (Proprietary) Limited *          
  SharedPhone International (Proprietary) Limited1 20 000     3 216      
  The Prepaid Company (Proprietary) Limited 2 150 214     1 018 903**      
  Velociti (Proprietary) Limited 7 185     815      
  Ventury Group (Proprietary) Limited 98 406         (48 000)  
  Virtual Voucher (Proprietary) Limited 44 784          
    3 264 085     1 174 310     (48 866)
  * Less than R1 000.
  ** R750 million (2008: R450 million) of this balance is subordinated in favour of other creditors of The Prepaid Company (Proprietary) Limited.
  All subsidiaries are based in the Republic of South Africa. For details on percentage held and issued shares refer to note 31 in the group notes.
  The directors believe that the carrying value of the shares approximate their fair value.
  The shares in The Prepaid Company (Proprietary) Limited are pledged to Investec Bank.
  1 These loans bear interest at prime plus 2% and have no fixed terms of repayment.
  2 This loan bears interest at prime plus 3% and has no fixed terms of repayment.
  All other loans are interest free and have no fixed terms of repayment.
        2009     2008  
        R’000     R’000  
6.2 Investments in joint venture              
  Shares at cost less amounts written off     3 030      
  Loans owing by joint venture     149      
        3 179      
    Date   Country of   Assets   Liabilities   Revenues     Profit     Percentage  
    acquired   incorporation   R’000   R’000   R’000     R’000     interest held  
  2009                                
  DemTrade 11                                
  (Proprietary) Limited 1 June 2008   South Africa   7 554   6 382   9 086     1 121     50  

 


Print this page
close window
close window