106 / 156
NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 30 June 2015
4.
Subsidiaries
4.1 Investment in subsidiaries
Details of the group’s subsidiaries at the end of the year 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 2015
30 June 2014
Hyprop Investments
(Mauritius) Limited
(Hyprop Mauritius)
Acquiring indirect development or
income producing property investments
in sub-Saharan Africa (excluding SA)
Mauritius
100%
100%
African Land Investments
Limited (African Land)
Currently dormant. In 2014 the principal
activity was acquiring income producing
investment property in sub-Saharan
Africa (excluding SA)
South Africa
100%
87%
Word4Word Marketing
Proprietary Limited
(Word4Word)
Marketing services
South Africa
100%
100%
Hyprop Investments
Employee Incentive Scheme
Proprietary Limited
(Hyprop Investments
Employee Incentive Scheme)
To hedge the obligation of the
company to deliver Hyprop shares to
employees, arising from allocations
to employees in terms of the Hyprop
Employee Incentive Scheme
South Africa
100%
100%
Hyprop Foundation NPC
(Hyprop Foundation)
Company formed to further
sustainability, enterprise development,
socio-economic development and the
corporate social initiatives of Hyprop
South Africa
100%
100%
Notes
GROUP
June 2015
R000
GROUP
June 2014
R000
COMPANY
June 2015
R000
COMPANY
June 2014
R000
Hyprop Mauritius
*
*
The company acquired 100% of the issued capital
in Hyprop Mauritius for USD1. Hyprop Mauritius
holds a 37,5% interest in AttAfrica. Refer to note 6.
African Land
The company acquired 87% of African Land on
5 December 2013. Until its restructure, African
Land indirectly held a 100% interest in Manda
Hill Centre. Refer to note 34. Following the
restructure of African Land, Hyprop became its
sole shareholder.
Cost
758 264
Reallocate to investment in subsidiaries/
(2014: transfer to assets held for sale)
13
758 264
(758 264)
Balance at end of year
758 264
Word4Word
Cost allocated to Word4Word
29 566
29 566
Impairment
(29 566)
(25 286)
Balance after impairment
9
4 280
Hyprop Investments Employee Incentive
Scheme
Cost
11 068
11 068
The company was incorporated on 19 September 2013.
Hyprop Foundation
The company was incorporated on 17 September 2013.
Total investment in subsidiaries
769 332
15 348
* Amounts less than R1 000
104
Hyprop Investments Limited
Integrated Report 2015
FINANCIAL STATEMENTS