Page 61

AFRICAN DAWN ANNUAL REPORT 14

Notes to the Financial Statements continued Group Company 2014 2013 2014 2013 R '000 R '000 R '000 R '000 16. Borrowings continued Nedbank Mortgage bond 10,074 11,172 - - The loan is secured on fixed property. Interest is levied at prime - 0.5% and the loan is repayable in instalments of R168,450 per month. The bond arose as part of a property in possession transaction. Refer to note 9, Greenoaks. The monthly instalments are funded through the cash generated through operations at Greenoaks. If the bond became due in the next period the balance on the loan would be settled on the sale of the property as per the registered mortgage over the property. 16,737 29,658 1,663 1,621 Non-current liabilities At amortised cost 8,844 22,366 - 1,621 Current liabilities At amortised cost 7,893 7,292 1,663 - 16,737 29,658 1,663 1,621 Borrowings indicated are part of discounted operations so are included in note 13. Sensitivity analysis The analysis shows the effect that a change in the repo rate would have had on the profits if rates increased by 1% or decreased by 1%. Balance Profit effect at Repo +1% Profit effect at Repo - 1% R R R Interest bearing borrowings excludes Nexus 11,737,060 117,370 (117,370) 11,737,060 117,370 (117,370) AFRICAN DAWN 5 8 ANNUAL REPORT 2014


AFRICAN DAWN ANNUAL REPORT 14
To see the actual publication please follow the link above