Notes to the annual financial statements

FOR THE YEAR ENDED 31 MARCH 2008

« Note 35 Note 1 »
         
36. RELATED PARTY INFORMATION    
 

Subsidiaries
Details of income from and investments in subsidiary companies are disclosed in note 27 and in Annexure A respectively.

Associated companies and joint ventures
Details of investments in and income from associated companies and joint ventures are disclosed in notes 6, 7 and 28 respectively, as well as in Annexures B and C.

Key management personnel
Only Remgro’s directors are key management personnel. Information on directors’ emoluments and their shareholding in the Company appears in notes 23 and 24 as well as in the Report of the Board of Directors.

Shareholders
Details of the principal shareholder appear in the Report of the Board of Directors. A detailed analysis of shareholders appears here.

Other
Certain contractually agreed upon, supporting and other services are rendered to VenFin Limited. Refer to note 26.

 

    2008   2007  
  Related party transactions   R million   R million  
  CONSOLIDATED    
  Transactions of Remgro Limited and its subsidiary companies with:    
       
  Controlling shareholder    
     Dividends paid 164   277  
       
  Associates    
     Interest received 11   35  
     Dividends received 3 297   2 748  
     Sales 2   12  
     Administration fees 13   12  
     Purchases 113   200  
     Interest paid 1   –  
     Other expenses –   1  
       
  Key management personnel    
     Salaries and other benefits 19   18  
     Retirement benefits 3   3  
     Share-based payments 8   7  
       
  Other    
     Fees received from VenFin Limited 17   21  
       
  Balances due from/(to) related parties    
     Associated companies (11)  (13) 
       
  THE COMPANY    
  Transactions of Remgro Limited with:    
       
  Subsidiary companies    
     Dividends received 2 138   3 358  
     Administration fees received 5   4  
       
  Balances due by/(to) related parties    
     Subsidiary companies 2 312   2 371  
 
  No security is given for any outstanding balances. No provisions for bad debts against outstanding balances with related parties have been made and no bad debt of related parties has been written off during the year.