| NOTES TO THE FINANCIAL STATEMENTS l NOTE 10 |
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GROUP
June 2014
R000 |
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GROUP
June 2013
R000 |
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COMPANY
June 2014
R000 |
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COMPANY
June 2013
R000 |
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Atterbury Africa Limited — rand equivalent of US dollar loan |
812 459 |
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336 909 |
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The loan repayment date is 30 June 2020 and represents Hyprop’s shareholder loan funding to Atterbury Africa. |
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The loan is secured and bears interest at an initial rate of 8%, escalating at 4% per annum. |
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Hyprop Investments (Mauritius) Limited has a 37,5% equity interest in Atterbury Africa. |
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Portion 113 Weltevreden (Proprietary) Limited, a company associated with Abland (Proprietary) Limited (Abland) |
47 145 |
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47 398 |
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47 145 |
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47 398 |
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The above loan is repayable on 23 September 2014, bears interest at a rate linked to the three-month JIBAR rate, interest is payable monthly in arrears. |
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The loan was advanced to Abland in 2008 to facilitate the acquisition by Abland of its 10% interest in Stoneridge. |
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Mantrablox (Proprietary) Limited |
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117 600 |
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In December 2013, Attacq exercised its option to acquire Hyprop’s 20% interest in Mantrablox (Proprietary) Limited, which owns Garden Route Mall. The shares and loan account in Mantrablox were accordingly sold in December 2013. |
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Hyprop Investments (Mauritius) Limited — wholly owned subsidiary of Hyprop |
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188 |
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188 |
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The loan is unsecured, bears no interest and is repayable on demand. |
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Attacq loan |
341 |
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341 |
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The loan relates to Attacq’s portion of a claim relating to the African Land acquisition. The loan bears interest at 8,3% per annum and is repayable when the claim is settled, which is anticipated to be within the next 12 months. |
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859 945 |
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384 307 |
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47 674 |
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165 186 |
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Reconciliation to the statements of financial position |
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Long-term loan receivable |
812 459 |
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384 307 |
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47 586 |
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Short-term loan receivable |
47 486 |
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47 674 |
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117 600 |
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Total |
859 945 |
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384 307 |
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47 674 |
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165 186 |
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| NOTES TO THE FINANCIAL STATEMENTS l NOTE 10 |
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