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Notes
to the Group annual financial statements
continued
For the year ended 31 May 2017
BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
8.
Related parties
continued
2017
R’000
2016
R’000
Purchases of intangible assets from related parties
Mpower Softcomm Private Limited*
—
374
Purchases of property, plant and equipment from related parties
Melrose Motor Investments Proprietary Limited
4 535
—
Loans from related parties
Datacision Proprietary Limited* (refer to note 3.2.2)
4 738
4 738
Loans to related parties
2DFine Holdings Mauritius*
†
(refer to note 2.2)
218 305
234 892
Lornanox Proprietary Limited* (refer to note 2.1)
75 209
65 949
Oxigen Services India Private Limited* (refer to note 2.2)
34 310
38 359
Prepaid24 Proprietary Limited (previously Banosign Proprietary Limited)* (refer to
note 2.1)
11 033
1 638
Stylco Proprietary Limited (refer to note 3.1.1)
—
26 000
Supa Pesa South Africa Proprietary Limited* (refer to note 2.1)
6 714
7 307
United Call Centre Solutions Proprietary Limited* (refer to note 2.1)
1 591
—
ZOK Cellular Proprietary Limited (refer to note 3.1.1)
26 364
20 881
Amounts due from related parties included in trade receivables
Black Ginger 59 Proprietary Limited
—
4 351
Blue Label Mexico S.A. de C.V.*
3 194
1 039
Datacision Proprietary Limited*
582
3 330
Lornanox Proprietary Limited*
13 676
5 846
Oxigen Services India Private Limited*
5 244
6 328
Prepaid24 Proprietary Limited (previously Banosign Proprietary Limited)*
—
4 057
Stax Technologies Proprietary Limited
—
21
Stylco Proprietary Limited
—
747
ZOK Cellular Proprietary Limited
3
—
22 702
25 719
Amounts due to related parties included in trade payables
Black Ginger 59 Proprietary Limited
2 057
3 166
Blue Label Mexico S.A. de C.V.*
393
—
Datacision Proprietary Limited*
55
44
Matragon House Proprietary Limited
6
—
Prepaid24 Proprietary Limited (previously Banosign Proprietary Limited)*
1 098
—
Stylco Proprietary Limited
—
7
Wildekrans Trust
—
15
ZOK Cellular Proprietary Limited
—
19 912
3 609
23 144
* 2DFine Holdings Mauritius, Prepaid24 Proprietary Limited, Blue Label Mexico S.A. de C.V., Datacision Proprietary Limited, United Call
Centre Solutions Proprietary Limited, Forensic Intelligence Data Solutions Proprietary Limited, Lornanox Proprietary Limited, Mpower
Softcomm Private Limited, and Supa Pesa South Africa Proprietary Limited are related parties in that they are associates or joint
ventures of the Group (refer to note 2.4). The remaining companies are related parties due to Directors’ shareholdings and the
companies having certain common directorships.
†
B Levy and M Levy have signed personal sureties for the loan owed by 2DFine Holdings Mauritius to Gold Label Investments
Proprietary Limited. Their liability is limited to the difference between the loan owing to Gold Label Investments Proprietary Limited
and the value of 16.93% of the shares in Oxigen Services India Private Limited on the 30th day after which the loan becomes due
and payable or the extended date as may be agreed in writing by Gold Label Investments Proprietary Limited.
For details of emoluments to Directors refer to note 5.3. For details of equity compensation benefit expense in respect
of Directors refer to note 5.1. The Executive Directors of the Company are regarded as key management of the
Group.
For details of the shareholdings in the Company, refer to the Directors’ report.