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AFRICAN DAWN 2015 Annual Report

Notes to the Financial Statements continued Group Company 2015 R’000 2014 R’000 AFRICAN DAWN 96 ANNUAL REPORT 2015 28. Deemed interest 2015 Group borrowings Amount Present value adjustment 2015 R’000 2014 R’000 Deemed interest Balance Sandown Capital Interest free portion loan (A) in note 17 3,333 (494) 66 2,905 Sandown Capital Elite Two loan (B) in note 17 1,750 (76) 44 1,717 National Housing Finance Corporation ("NHFC") Loan Guarantee (D) in note 17 1,750 (92) - 1,658 6,833 (662) 110 6,280 2015 Company borrowings Amount Present value adjustment Deemed interest Balance National Housing Finance Corporation (“NHFC”) Loan Guarantee (D) in note 17 1,750 (92) - 1,658 1,750 (92) - 1,658 For further details on the borrowings refer to note 17. 29. Finance costs 2015 Group borrowings NHFCE interest 491 756 - - Interest on convertible bond 1,251 1,913 - - Interest paid RHLF 44 44 - - Finance leases 22 26 - - Bank 28 25 - - Sandown Capital borrowing 196 - - - STRB convertible bond interest 265 185 265 185 Penalties and interest on income tax (refer 5,518 25 3,344 - to note 13) Nedbank bond interest 818 889 - - 8,633 3,863 3,609 185 30. Taxation Major components of the tax expense (income) Current Local income tax - current period 1,353 407 - - Local income tax - recognised in current tax 95 - - - for prior periods 1,448 407 - -


AFRICAN DAWN 2015 Annual Report
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