J. RELATED PARTIES
J1 RELATED PARTY TRANSACTIONS AND BALANCES
J1.1 Accounting policy
 

Related parties are entities that are subsidiaries, joint ventures, co-investors of the Group, and individuals that are directors and/or prescribed officers of the Group.

The Group, in the ordinary course of business, entered into various sale and purchase transactions on an arm's length basis at market related rates with related parties.

J1.2 Related-party transactions and balances - entities
 

Entities that are related parties and with whom the Group transacted during the year are listed below:

 
      Group   Company     
  Note     June 2020 
R'000 
June 2019 
R'000 
June 2020 
R'000 
June 2019 
R'000 
  
African Land - subsidiary  –  –  (2 861) (2 861)   
Investment in subsidiary  –  –  758 264  758 264    
Borrowings  –  –  (761 125) (761 125)   
Hyprop Share Scheme - subsidiary 
Loan receivable (net of accumulated expected credit losses)  F1     –  –  29 108  53 603    
Interest received  –  –  3 685  3 108    
Hyprop Mauritius - subsidiary 
Interest received  –  –  –  2 259    
Financial guarantees given by Hyprop on behalf of Hyprop Mauritius 
   Debt guaranteed by Hyprop on behalf of Hyprop Mauritius (1)  –  –  2 038 877  2 671 017    
   Carrying value of financial guarantees given by Hyprop on behalf of Hyprop Mauritius  –  –  114 861  186 023    
   Guarantee liability as percentage of debt guaranteed (%) –  –  5.6  7.0    
AttAfrica - co-investor and joint venture 
Loan receivable (net of accumulated expected credit losses)  F1     658 456  909 967  –  –    
Interest received  29 510  80 493  –  –    
Manda Hill Mauritius - former joint venture 
Loan receivable (net of accumulated expected credit losses)  F1     –  423 139  –  –    
Interest received  4 036  3 715  –  –    
Hystead - financial asset 
Financial asset  532 972  218 444  532 972  218 444    
Asset management and accounting fee income  18 108  27 715  18 108  27 715    
Dividend declared/received  120 630  221 190  120 630  221 190    
Dividends receivable included in trade and other receivables  –  16 278  –  16 278    
Financial guarantees given by Hyprop on behalf of Hystead 
   Debt guaranteed by Hyprop on behalf of Hystead (1)  7 030 929  5 748 439  7 030 929  5 748 439    
   Carrying value of financial guarantees given by Hyprop on behalf of Hystead  127 066  110 401  127 066  110 401    
   Guarantee liability as percentage of debt guaranteed (%) 1.8  1.9  1.8  1.9    
PDI Investment Holdings Limited - co-investor and common director 
   Credit enhancement fee paid by PDI to Hyprop: income  22 111  40 542  22 111  40 542    
   Credit enhancement fee: receivable included in trade and other receivables  –  2 984  –  2 984    
 
(1) Details of investment properties mortgaged to secure guarantees on behalf of Hystead and Hyprop Mauritius are shown in note E1.8 – Mortgaged properties.
J1.3 Directors' interests in Hyprop shares
 
  June 2020   June 2019  
Group and Company Direct
beneficial
  Indirect
beneficial
  Total   Direct
beneficial
  Indirect
beneficial
  Total  
Independent non-executive directors 35 000     35 000   30 500   2 940   33 440  
Non-executive directors   378 000   378 000     378 000   378 000  
Executive directors (1) 180 565   45 370   225 935   88 871   1 870   90 741  
Total 215 565   423 370   638 935   119 371   382 810   502 181  
 
(1) Includes shares awarded under the CUP
 

Details of directors' remuneration are included in note K1 - Directors' remuneration.