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NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
continued
For the year ended 31 May 2016
BLUE LABEL INTEGRATED ANNUAL REPORT 2016
146
9.
Unrecognised items
9.1 Commitments
Future operating lease commitments
The Group leases various offices under non-cancellable operating lease agreements.
The lease terms are between one and five years, and the majority of lease agreements are renewable at the end of
the lease period at market rates.
The Group is required to give six months’ notice for the termination of the majority of these agreements.
The lease expenditure charged to the income statement during the year is disclosed in note 1.3.
The future aggregate minimum lease payments under non-cancellable operating leases are as follows:
2016
R’000
2015
R’000
Premises
Payable within one year
24 140
27 512
Payable in two to five years
18 666
29 663
Payable in greater than five years
—
—
42 806
57 175
9.2 Subsequent events
A final dividend of R242 823 255 (36 cents per ordinary share) was declared for the year ended 31 May 2016,
payable on Monday, 19 September 2016, to shareholders recorded in the register at the close of business on Friday,
16 September 2016.