| |
June 2017
R000 |
|
June 2016
R000 |
|
| Shareholder loan – AttAfrica – Rand equivalent of US Dollar loan |
2 444 203 |
|
2 633 939 |
|
The loan represents shareholder loan funding to AttAfrica, and is repayable in June 2020. The loan is unsecured and bears interest at an initial rate of 8%, escalating at 4% per annum. Hyprop Mauritius has a preferential right to receive interest on the loan to AttAfrica and has a 37,5% equity interest in AttAfrica. The AttAfrica shareholder loan was impaired during the year by R25,2 million. The loan was impaired due to a negative net asset value in AttAfrica. The negative net asset value was caused in part by reductions in the valuations of the underlying properties and by lower rental income. |
|
|
|
|
| Shareholder loan – Manda Hill Mauritius – Rand equivalent of US Dollar loan |
551 515 |
|
624 617 |
|
| The loan is unsecured, and bears interest at a variable rate which equates to Hyprop Mauritius’ 50% share of distributable income from Manda Hill Mauritius. The loan is not repayable in the next 12 months. |
|
|
|
|
| Vondelvlag Holding loan – Rand equivalent of Euro loan |
15 199 |
|
12 844 |
|
| The EUR1,04 million loan is unsecured, bears interest at 3,15%, payable quarterly, and is repayable in April 2021. |
|
|
|
|
| Vondelvlag Stichting loan – Rand equivalent of Euro loan |
2 235 |
|
1 889 |
|
| The EUR150 000 loan facility, of which EUR144 894 has been drawn down, is unsecured, bears interest at 3,15%, payable quarterly, and is repayable in April 2021. |
|
|
|
|
| Attacq Limited |
|
|
400 |
|
| |
3 013 152 |
|
3 273 689 |
|
| Reconciliation to the statement of financial position |
|
|
|
|
| Non-current shareholder loans receivable(1) |
2 995 718 |
|
3 258 557 |
|
| Non-current loans receivable |
17 434 |
|
14 732 |
|
| Current loans receivable |
|
|
400 |
|
| Total |
3 013 152 |
|
3 273 689 |
|