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AFRICAN DAWN Annual Report 2016

continued Notes to the Financial Statements Annual Financial Statements For the year ended 29 February 2016 42. Restrictions Various contracts have restrictions in them that limit access to the assets by the Group. These restrictions are explained below: 2016 - Existing as at year end Sandown Capital Proprietary Limited No amounts can be paid to Afdawn by Elite until all amounts owing to Sandown Capital Proprietary Limited have been settled. The carrying amount of the liabilities is R10,213 million (2015: R14,222 million) (refer to note 15 which deals with borrowings owed to Sandown). Elite Cell The cash in Elite Cell can only be accessed if a claim is submitted to Guardrisk or if Elite Cell declares a dividend. The carrying amount is R0,312 million (2015: R0,724 million ). Refer to note 7. AFRICAN DAWN ANNUAL REPORT 2016 109


AFRICAN DAWN Annual Report 2016
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