| NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 2.2 |
|
| 2.2 |
Disposal of subsidiary
Date disposed
% disposed |
30 October 2015
100
Velociti
Proprietary
Limited
R’000 |
|
| Carrying/fair value of subsidiary disposed of |
17 216 |
|
| Goodwill |
3 169 |
|
| Carrying/fair value of net assets disposed of |
20 385 |
|
| Loss on disposal of subsidiary |
(3 885) |
|
| Total proceeds on disposal received in cash |
16 500 |
|
| Less: Cash and cash equivalents in subsidiary |
(3 281) |
|
| Cash inflow on disposal |
13 219 |
|
On 30 October 2015, Blue Label Telecoms Limited sold its 100% shareholding in Velociti Proprietary Limited to a third party for an amount of R16.5 million. The loss on disposal of R3.9 million has been recognised in the income statement. |
| NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 2.2 |
|
|