Notes to the annual financial statements
FOR THE YEAR ENDED 31 MARCH 2010
| « Note 36 | Note 38 » |
37. |
Related party information |
| Subsidiaries Details of income from and investments in subsidiary companies are disclosed in note 28 and in Annexure A respectively. Associated companies and joint ventures Key management personnel Shareholders Related party transactions |
| 2010 R million |
2009 R million |
||
Consolidated |
|||
| Transactions of Remgro Limited and its subsidiary companies with: | |||
| Controlling shareholder | |||
| Cash dividends | 69 | 146 | |
| Dividend in specie | – | 4 128 | |
| Associated companies and joint ventures | |||
| Interest received | 32 | 12 | |
| Dividends received | 1 222 | 1 528 | |
| Sales | 50 | 69 | |
| Administration fees | 17 | 16 | |
| Purchases | 141 | 148 | |
| Key management personnel | |||
| Salaries and other benefits | 27 | 23 | |
| Share Scheme bonuses | – | 20 | |
| Retirement benefits | 4 | 3 | |
| Share-based payments | 20 | 13 | |
| Other | |||
| Fees received from VenFin Limited | 11 | 19 | |
| Balances due from/(to) related parties: | |||
| Associated companies | (19) | (20) | |
| Associated companies | 413 | 473 | |
| Other | 57 | – | |
| Loans to directors | 3 | 38 | |
| Balance – 1 April | 38 | – | |
| Loans advanced during the year | – | 40 | |
| Interest charged | 2 | 1 | |
| Repayments made | (37) | (3) | |
The Company |
|||
| Transactions of Remgro Limited with: | |||
| Controlling shareholder | |||
| Cash dividends | 69 | 146 | |
| Dividend in specie | – | 4 128 | |
| Subsidiary companies | |||
| Dividends received | 5 624 | 59 469 | |
| Administration fees received | – | 5 | |
| Balances due by related parties | |||
| Subsidiary companies | 4 815 | 179 |
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.