NOTES TO THE FINANCIAL STATEMENTS l NOTE 8


8.

Investments in associates
  Details of the group’s associates at the end of the reporting period are as follows:

        Proportion of ownership
interest and voting power held
by the group		  
Name of subsidiary Principal activity Place of
incorporation
and operation		   30 June 2014   30 June 2013  
Mantrablox (Proprietary) Limited Property investment company South Africa       20%  
It’s Called Advertising (Proprietary) Limited(1) Graphic design and advertising company South Africa   40%   40%  
(1) 40% of It’s Called Advertising (Proprietary) Limited is oned by Word4Word Marketing (Proprietary) Limited. Word4Word Marketing (Proprietary) Limited is a wholly owned subsidiary of Hyprop. Refer to note 5

Summarised financial information of the group’s associates is set out below:

Reconciliation to the statements of financial position

  GROUP
June 2014
R000		   GROUP
June 2013
R000		   COMPANY
June 2014
R000		   COMPANY
June 2013
R000		  
Mantrablox (Proprietary) Limited(2)                
Total assets     1 054 935          
Total liabilities     1 035 088          
Net assets     19 847          
Group’s share of net assets of Mantrablox (Proprietary) Limited     3 969          
It’s Called Advertising (Proprietary) Limited                
Total assets 2 045   1 553          
Non-current assets 159   224          
Current assets 1 886   1 329          
Total liabilities 546   1 283          
Non-current liabilities     417          
Current liabilities 546   866          
Net assets 1 499   270          
Group’s share of net assets of It’s Called Advertising (Proprietary) Limited 600   108          
Group’s share of net assets of associates 600   4 077          
Loan advanced (Mantrablox (Proprietary) Limited)     117 600          
Transfer to non-current asset held for sale     (121 569)          
Investment in associates 600   108          
Reconciliation to the statements of comprehensive income                
Mantrablox (Proprietary) Limited(2)                
Total revenue     55 585          
Total profit for the year/period     38 649          
Group’s share of profits of Mantrablox (Proprietary) Limited     3 969          
It’s Called Advertising (Proprietary) Limited                
Total revenue 7 618   1 744          
Total profit for the year/period 1 154   334          
Group’s share of profits of It’s Called Advertising (Proprietary) Limited 462   293          
Group’s share of profits 462   4 262          
(2) 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 sold for R139 million, realising a profit of R17,4 million. Refer to note 13

NOTES TO THE FINANCIAL STATEMENTS l NOTE 8