170 / 248
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2015
168
BLUE LABEL INTEGRATED ANNUAL REPORT 2015
28.
TRANSACTIONS WITH NON-CONTROLLING INTERESTS
Disposal of interest in subsidiary without loss of control
In September 2009 Ventury Proprietary Limited sold 26% of its stake in Cigicell Proprietary Limited to
Sangrilor Proprietary Limited. The Group previously did not recognise this disposal and accounted for
Cigicell Proprietary Limited as a wholly owned subsidiary until the purchase consideration was settled
by Sangrilor Proprietary Limited. The purchase consideration was settled through the declaration of
dividends by Cigicell Proprietary Limited on 1 April 2015.
The effect of changes in the ownership interest of Cigicell Limited on the equity attributable to
owners of the company during the year is summarised as follows:
R'000
Carrying amount of non-controlling interest acquired
(7 132)
Consideration received from non-controlling interest
—
Decrease in Group’s capital and reserves before non-controlling interest
(7 132)
29.
RELATED PARTY TRANSACTIONS
For details of subsidiaries, associates and joint ventures, refer to note 33. For details of the Company’s
Directors, refer to the Directors’ report. ZOK Cellular Proprietary Limited, BSC Technologies Proprietary
Limited, Black Ginger 59 Proprietary Limited, Dataforce Trading 240 Proprietary Limited, Moneyline
311 Proprietary Limited, PLL Investments Proprietary Limited, aloeCap Proprietary Limited, Unihold
Group Proprietary Limited, Wildekrans Trust, Stylco Proprietary Limited, Wildekrans Wine Estate
Proprietary Limited, Wireless Business Solutions Proprietary Limited, iBurst Proprietary Limited, Parkrun
Southern Africa Proprietary Limited, Bordelo Properties Proprietary Limited, Blu’s Brothers Proprietary
Limited, Liquid NFC Proprietary Limited, Stax Technologies Proprietary Limited, and Ellerine Bros.
Proprietary Limited are related parties due to Directors’ shareholdings and the companies having
certain common directorships.
For details of the shareholdings in the Company, refer to the Directors’ report.
For details of emoluments to Directors, who are regarded as key management, refer to note 30.
The following transactions were carried out with related parties and all relate to continued
operations:
2015
R’000
2014
R’000
Sales to related parties
BSC Technologies Proprietary Limited
—
443
Blue Label Mexico S.A. de C.V.
9 922
5 053
Datacision Proprietary Limited
206
112
iBurst Proprietary Limited
752
732
Mpower Softcomm Private Limited
4
—
Smart Voucher Limited trading as Ukash
—
24
Stax Technologies Proprietary Limited
272
49
Stylco Proprietary Limited
636
2 907
ZOK Cellular Proprietary Limited
2 428
3 448
2015
’