NOTES TO THE ANNUAL FINANCIAL STATEMENTS � NOTE 28

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:

    2015
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)    

NOTES TO THE ANNUAL FINANCIAL STATEMENTS � NOTE 28