Company statement of cash flowsfor the year ended 31 May 2026

	Notes	2026 R’000	2025 R’000
CASH FLOWS FROM OPERATING ACTIVITIES
Cash utilised by operations	14	(7 440)	(15 679)
Interest received	12	623	214
Dividends received		29 842	34 372
Net cash generated from operating activities		23 025	18 907
CASH FLOWS FROM INVESTING ACTIVITIES
Loans to group companies repaid	5	416 148	–
Loans advanced to group companies	5	(37 342)	(2 776)
Additional investment in and acquisition of shares in associates		–	(148)
Net cash generated/(utilised) in investing activities		378 806	(2 924)
CASH FLOWS FROM FINANCING ACTIVITIES
Purchase of shares forfeited by subsidiaries and associates		(2 641)	(17 903)
Dividends paid		(398 000)	–
Net cash utilised in financing activities		(400 641)	(17 903)
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS		1 190	(1 920)
Cash and cash equivalents at the beginning of the year		1 390	3 310
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR	7	2 580	1 390