Blue Label Telecoms Integrated Annual Report 2015

NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS

CONTINUED

For the year ended 31 May 2015

208

BLUE LABEL INTEGRATED ANNUAL REPORT 2015

2014

R’000

INVESTMENTS IN GROUP COMPANIES AND RELATED LOANS

6.1 Investments in and loans to subsidiaries

Shares at cost less amounts written off

3 240 227

3 012 304

Loans owing by subsidiaries less amounts written off

976

31 565

3 241 203

3 043 869

In the current year Viamedia Proprietary Limited was acquired. Refer to note 26 of the Group annual

financial statements.

In the current year Blue Label Engage Proprietary Limited was disposed of for R2.4 million. The loss on

disposal of R333 676 is included in other expenses in the statement of comprehensive income. Refer

to note 25 of the Group annual financial statements.

Details are reflected below:

2015

Activi Deployment Services Proprietary Limited

5 060

—

Africa Prepaid Services Proprietary Limited

61 520

87 898

(149 418)

Africa Prepaid Services Nigeria Limited

14 000

28 740

(42 740)

Blue Label Distribution Proprietary Limited**

194 000

—

Blue Label Investments Proprietary Limited

108 416

—

Blue Label One Proprietary Limited

40 000

—

BLT USA Inc.

307

—

Budding Trade Proprietary Limited**

6 000

—

Cellfind SA Proprietary Limited

290 000

—

(141 841)

Cigicell Proprietary Limited

295

—

Datacel Direct Proprietary Limited

150 000

—

(16 073)

Gold Label Investments Proprietary Limited

29 400

95 683

(121 148)

Kwikpay SA Proprietary Limited**

22 500

—

Matragon Proprietary Limited**

—

Panacea Mobile Proprietary Limited

27 480

—

Simigenix Proprietary Limited

—

The Post Paid Company Proprietary Limited**

1 500

—

The Prepaid Company Proprietary Limited**

2 150 215

—

TicketPros Proprietary Limited**

14 700

—

Transaction Junction Proprietary Limited

4 200

—

Uninex Proprietary Limited

976

—

Velociti Proprietary Limited

7 185

—

Ventury Group Proprietary Limited**

98 406

—

Viamedia Proprietary Limited

229 158

—

Virtual Voucher Proprietary Limited**

44 784

—

3 499 126

213 297

(471 220)

* Less than R1 000.

** These investments have been pledged as security to Investec Bank Limited in terms of the facility. For details on

percentage held, country of incorporation and issued shares, refer to note 34 in the Group notes. Refer to notes 15

and 21 for details on impairments.

All loans are interest free and repayable on demand.

2015

R’000

Shares at

cost

Loans

owing by

subsidiaries

R’000

Provision

for

impairment

R’000