Disposal of subsidiary
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| Shares in the following subsidiary were disposed of during the year | Effective date of disposal |
% held and disposed of |
||
|---|---|---|---|---|
| Subsidiary | ||||
| Blue Label Engage Proprietary Limited | 14 December 2014 | 50.1 | ||
| Details of the total net assets disposed and the resulting profit on disposal are as follows: | Total R’000 |
|||
| Total proceeds | 2 400 | |||
| Carrying/fair value of net assets disposed of | (1 562) | |||
| Profit on disposal of subsidiary | 3 962 | |||
| The assets and liabilities disposed of are as follows: | Fair value at disposal date R’000 |
|||
| Cash and cash equivalents | 66 | |||
| Property, plant and equipment | 64 | |||
| Intangible assets | 267 | |||
| Financial assets at fair value through profit and loss | 1 389 | |||
| Receivables | 8 484 | |||
| Loan receivable | 1 328 | |||
| Borrowings | (12 934) | |||
| Payables | (7 254) | |||
| Carrying/fair value of subsidiary disposed of | (8 590) | |||
| Non-controlling interest | 4 286 | |||
| Goodwill | 2 742 | |||
| Carrying/fair value of net assets disposed of | (1 562) | |||
| Total proceeds on disposal received in cash | 2 400 | |||
| Less: Cash and cash equivalents of subsidiary disposed of | (66) | |||
| Cash inflow on disposal | 2 334 |