Notes to the annual financial statements

FOR THE YEAR ENDED 31 MARCH 2009

« Note 35 Note 37 »
 
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 24 and 25 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 within this website click here to view.

Other
Certain contractually agreed upon, supporting and other services are rendered to VenFin Limited.
       
  Related party transactions 2009   2008  
    Rmillion   Rmillion  
  Consolidated    
  Transactions of Remgro Limited and its subsidiary companies with:    
  Controlling shareholder    
     Cash dividends 146   164  
     Dividend in specie 4 128   –  
  Associated companies    
     Interest received 12   11  
     Dividends received 1 528   3 297  
     Sales 69   2  
     Administration fees 16   13  
     Purchases 148   113  
     Interest paid –   1  
  Key management personnel    
     Salaries and other benefits 23   19  
     Share Scheme bonusses 20   –  
     Retirement benefits 3   3  
     Share-based payments 13   8  
  Other    
     Fees received from VenFin Limited 19   17  
  Balances due from/(to) related parties    
     Associated companies (20)  (11) 
     Associated companies 473   22  
     Joint ventures 116   –  
     Loans to directors 38   –  
     Balance – 1 April –   –  
     Loans advanced during the year 40   –  
     Interest charged 1   –  
     Repayments made (3)  –  
       
  The Company    
  Transactions of Remgro Limited with:    
  Controlling shareholder    
     Cash dividends 146   164  
     Dividend in specie 4 128   –  
  Subsidiary companies    
     Dividends received 59 469   2 138  
     Administration fees received 5   5  
  Balances due by related parties    
     Subsidiary companies 179   2 312  
 

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. Loans were advanced to participants of the Remgro Share Scheme relating to the purchase of ordinary shares in Remgro by participants awarded before 30 September 2004, which have not vested by 6 August 2008.