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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 35. Related parties Relationships Subsidiaries Refer to note 6 Subsidiaries loan accounts Refer to note 10 Associates and equity accounted income from Elite Two Refer to note 32 Significant shareholder with borrowings Sandown Capital Proprietary Limited refer to notes 15,17,26 and 34 Significant shareholder controlled by a director who resigned 4 June 2014. Vaalmac Proprietary Limited Company controlled by a director providing services to the group Makalu Capital Proprietary Limited Directors’ loans and subsequent change Refer to note 18 Penalty paid by a company controlled by a subsidiary company director Elite Group 1 Proprietary Limited R1,316 million (refer to note 23) Companies acquired Refer to note 32 Liquidation of subsidiary Refer to note 33 Executive and non-executive directors Refer to directors' report Key management PJ Bezuidenhout (Resigned September 2013) DD Breedt GE Stoop (Resigned 11 August 2014) DA Turner (Resigned 11 August 2014) 92 AFRICAN DAWN ANNUAL REPORT 2016


AFRICAN DAWN Annual Report 2016
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