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AFRICAN DAWN 2015 Annual Report

Notes to the Financial Statements continued 6. Investments in subsidiaries The following table lists the entities which are controlled by the Group, either directly or indirectly through subsidiaries. The principal place of business and incorporation for all subsidiaries is South Africa. AFRICAN DAWN 74 ANNUAL REPORT 2015 Company % voting power 2015 % voting power 2014 Nature Carrying amount 2015 Carrying amount 2014 R'000 R’000 ABC Cashplus (Randburg) Proprietary Limited 100.00 % 100.00 % Dormant - - ABC Cashplus Financial Services Proprietary Limited 100.00 % 100.00 % Dormant - - African Dawn Debt Management Proprietary Limited 100.00 % 100.00 % Dormant - - African Dawn Kwazulu Natal Proprietary Limited 100.00 % 100.00 % Dormant - - African Dawn Property Transfer Finance 1 Bridging Proprietary Limited 100.00 % 100.00 % finance - - African Dawn Property Transfer Finance 2 Proprietary Limited 100.00 % 100.00 % Bridging finance - - African Dawn Property Transfer Finance 5 Proprietary Limited (C) - % 100.00 % Dormant - - African Dawn Social Education Proprietary Limited 100.00 % 100.00 % Dormant - - African Dawn Wheels Operations Proprietary Limited 100.00 % 100.00 % Dormant - - African Dawn Wheels Proprietary Limited 100.00 % 100.00 % Vehicle finance - - Albistar Investments Proprietary Limited 100.00 % 100.00 % Dormant - - Almika Properties 81 Proprietary Limited 100.00 % 100.00 % Property holding - - Amalgum Investments 138 Proprietary Limited (A) 100.00 % 100.00 % Dormant - - Bhenka Financial Services Proprietary Limited 100.00 % 100.00 % Dormant - - Candlestick Park Investments Proprietary Limited 100.00 % 100.00 % Property holding - 5,279 Elatiflash Proprietary Limited 100.00 % 100.00 % Dormant - - Elite Group 1 Proprietary Limited (B) - % 100.00 % Dormant - - Elite Group Two Proprietary Limited * 100.00 % - % Unsecured lending - - Elite Group Cell No, 00181 Proprietary Limited 100.00 % 100.00 % Life insurance - - Elite Group Proprietary Limited 100.00 % 100.1 % Unsecured lending 3,322 3,322 Grindstone Accelerator Proprietary Limited * 100.00 % - % Consulting - - Knife Capital Proprietary Limited 100.00 % - % Venture capital 12,555 - Nexus Personnel Finance 2 Proprietary Limited (C) - % 100.00 % Dormant - - Nexus Personnel Finance Proprietary Limited (D) - % 100.00 % Unsecured lending - - 15,877 8,601 (A) Amalgum Investments 138 Proprietary Limited shares were transferred to Afdawn in 2013. The shares were previously held by African Dawn Property Transfer Finance 2 Proprietary Limited. (B) Elite 1 Proprietary Limited, a dormant shelf company, was transferred to the previous management of Elite for nil consideration in order for them to make an offer to purchase Elite during 2014. (C) Company was deregistered at CIPC by the reporting date. (D) Company went into liquidation in October 2014 and has been deconsolidated (refer to note 38). * Company held indirectly.


AFRICAN DAWN 2015 Annual Report
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