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AFRICAN DAWN Annual Report 2016

Notes to the Financial Statements Annual Financial Statements For the year ended 29 February 2016 35. Related parties (continued) Group Company 2016 R’000 2015 R’000 2016 R’000 continued 2015 R’000 Related party balances Loan accounts - Owing (to) by related parties Elite owes Sandown Capital Proprietary Limited (10,213) (12,933) - - Elite owes Elite Two included in group loans in 2015 - - - - Related party transactions Value of shares issued to directors on acquisition of Knife Capital @ 9c per share EA Van Heerden (A) - 3,000 - 3,000 JK Van Zyl - 3,000 - 3,000 A Böhmert (A) - 3,000 - 3,000 Cash paid to directors on acquisition of Knife Capital EA Van Heerden (A) 243 81 243 81 JK Van Zyl 243 81 243 81 A Böhmert (A) 243 81 243 81 Outstanding loans to directors on acquisition of Knife Capital EA Van Heerden (A) 162 406 162 406 JK Van Zyl 162 406 162 406 A Böhmert (A) 163 406 163 406 Rent (received from) paid to related parties Afdawn - (303) - (303) African Dawn Debt Management Proprietary - - - - Limited Elite - 149 - 149 Grindstone - 54 - 54 Knife Capital - 100 - 100 Administration fees (received from) paid to related parties African Dawn Wheels Proprietary Limited - - - - Afdawn - - - - Commission (received from) paid to related parties African Dawn Wheels Proprietary Limited 14 21 - - AFRICAN DAWN ANNUAL REPORT 2016 93


AFRICAN DAWN Annual Report 2016
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