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BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
2017
R’000
2016
R’000
6.
Investments in Group companies and related loans
6.1 Investments in and loans to subsidiaries
Shares at cost less amounts written off
3 303 297
3 390 958
Non-current loans owing by subsidiaries less amounts written off
208 014
160 560
Current loans owing by subsidiaries less amounts written off
976
976
3 512 287
3 552 494
Details are reflected below:
Shares at
cost
R’000
Loans
owing by
subsidiaries
R’000
Provision
for
impairment
R’000
2017
Activi Deployment Services Proprietary Limited
5 060
—
—
Africa Prepaid Services Proprietary Limited
61 520
90 497
(152 017)
Africa Prepaid Services Nigeria Limited
14 000
28 740
(42 740)
Blue Label Accelerator Proprietary Limited
*
—
—
Blue Label Distribution Proprietary Limited**
194 000
—
—
Blue Label One Proprietary Limited
40 000
—
—
BLT USA Inc.
307
—
—
Budding Trade Proprietary Limited**
6 000
—
—
Cellfind SA Proprietary Limited
290 000
— (58 013)
Cigicell Proprietary Limited
295
—
—
Datacel Direct Proprietary Limited
150 000
—
—
Gold Label Investments Proprietary Limited
137 816 303 698***
(121 148)
Panacea Mobile Proprietary Limited
27 480
—
—
Reware Proprietary Limited
1 216
—
—
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
—
Ventury Group Proprietary Limited**
98 406
—
—
Viamedia Proprietary Limited
229 158
—
—
Virtual Voucher Proprietary Limited**
44 784
—
(8 363)
3 470 657 423 911
(382 281)
* 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 2.4 in the Group notes. Refer to notes 16 and 22 for details on
impairments.
*** This loan in substance forms part of the Company’s investment into Gold Label Investments Proprietary Limited.
Refer to note 22 for the terms of these loans.
Notes
to the Company annual financial statements
continued
For the year ended 31 May 2017