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FINANCIAL PERFORMANCE

CONDENSED GROUP STATEMENT OF CASH FLOWS

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For the six months ended 30 November 
2020 
Unaudited 
R'000 		 30 November 
2019 
Reviewed 
R'000 
Cash flows from operating activities 
Cash generated by operations 1 125 291  390 152 
Interest received 27 530  37 585 
Interest paid (67 013) (113 551)
Taxation paid (115 638) (204 085)
Net cash generated from operating activities 970 170  110 101 
Cash flows from investing activities
Acquisition of intangible assets and property, plant and equipment (65 037) (89 061)
Liquidity support granted* (331 000) – 
Loans (granted)/repaid (17 361) 21 826 
Loans (granted)/repaid to associates and joint ventures (1 839) 9 264 
Proceeds from disposal of joint venture 190 555  – 
Other investing activities 17 213  8 725 
Net cash utilised in investing activities (207 469) (49 246)
Cash flows from financing activities
Proceeds from dilution of shares in subsidiary** –  34 435 
Borrowings raised 5 010  422 072 
Acquisition of treasury shares*** (44 064) –
Settlement of financial guarantee (62 047) –
Principal element of lease payments (31 317) (22 929)
Dividends paid to non–controlling interest (13 200) (57 977)
Net cash (utilised in)/generated from financing activities (145 618) 375 601 
Net increase in cash and cash equivalents 617 083  436 456 
Cash and cash equivalents at the beginning of the period 2 014 725  1 377 753 
Exchange gains on cash and cash equivalents –  1 160 
Cash and cash equivalents at the end of the period 2 631 808  1 815 369 
Included in cash and cash equivalents per the statement of financial position 2 631 808  1 640 684 
Included in the assets of the disposal group –  174 685 
2 631 808  1 815 369 
* This relates to the liquidity support given to SPV2. See note 7.
** This relates to Malik Investment Holdings Proprietary Limited's subscription for a further 4.51% in Blue Label Mobile Holdings Proprietary Limited. Refer to note 9.2 of the Group annual financial statements for the year ended 31 May 2019.
*** Approximately 14.5 million shares were repurchased over the period 27 August 2020 to 31 August 2020 at a weighted average price of R3.06 per share.