Unaudited condensed Group statement of cash flows
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| Note | Six months ended 30 November 2018 Unaudited R'000 |
Six months ended 30 November 2017 Unaudited R'000 |
Year ended 31 May 2018 Audited R'000 |
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|---|---|---|---|---|---|
| Cash flows from operating activities | |||||
| Cash (utilised in)/generated by operations | (950 899) | 3 297 462 | 3 588 780 | ||
| Interest received | 64 102 | 43 702 | 154 952 | ||
| Interest paid | (118 819) | (40 642) | (187 489) | ||
| Taxation paid | (187 617) | (184 522) | (368 099) | ||
| Net cash (utilised in)/generated from operating activities | (1 193 233) | 3 116 000 | 3 188 144 | ||
| Cash flows from investing activities | |||||
| Acquisition of intangible assets and property, plant and equipment | (111 514) | (46 119) | (102 823) | ||
| Acquisition of subsidiaries net of cash acquired | 5 | (7 162) | – | (291 240) | |
| Acquisition of associate | – | (5 500 000) | (6 124 127) | ||
| Acquisition of bond notes | – | (79 050) | (117 037) | ||
| Liquidity support granted* | (53 229) | – | – | ||
| Loans repaid by/(advanced to) Cell C | 1 029 626 | (740 000) | (1 017 522) | ||
| Capital contribution to Oxigen Services India | – | – | (25 076) | ||
| Loans (granted)/repaid | (7 163) | 66 567 | 23 348 | ||
| Loans granted to associates and joint ventures | (7 485) | (1 841) | (31 641) | ||
| Settlement of contingent consideration | (2 614) | (27 867) | (27 867) | ||
| Other investing activities | 6 191 | (17 403) | (44 394) | ||
| Net cash generated from/(utilised in) investing activities | 846 650 | (6 345 713) | (7 758 379) | ||
| Cash flows from financing activities | |||||
| Borrowings raised | 632 603 | – | 935 442 | ||
| Acquisition of treasury shares | (42 394) | (28 846) | (28 846) | ||
| Share buy back** | (224 006) | – | – | ||
| Proceeds on share issue | – | 2 750 000 | 3 650 000 | ||
| Transaction costs on share issue | – | – | (12 424) | ||
| Dividends paid to non-controlling interest | (28 553) | (21 100) | (27 750) | ||
| Dividends paid to equity holders of the parent | – | (349 804) | (349 804) | ||
| Other financing activities | – | – | (58) | ||
| Net cash generated from financing activities | 337 650 | 2 350 250 | 4 166 560 | ||
| Net decrease in cash and cash equivalents | (8 933) | (879 463) | (403 675) | ||
| Cash and cash equivalents at the beginning of the period | 947 888 | 1 350 666 | 1 350 666 | ||
| Exchange gains on cash and cash equivalents | 693 | – | 897 | ||
| Cash and cash equivalents at the end of the period | 939 648 | 471 203 | 947 888 |
| * | This relates to the liquidity support given to SPV 2. Refer to note 3. |
| ** | Approximately 32.9 million shares were repurchased over the period 22 August 2018 to 21 September 2018 at a weighted average price of R6.78 per share. |