| |
|
|
2009
R million
(Unaudited)
|
|
|
2008
R million
(Unaudited)
|
|
Year ended
30 Sept
2008
R million
(Audited)
|
| Note 7 |
|
|
|
|
|
|
|
|
| Investments and loans |
|
|
|
|
|
|
|
|
| Unlisted associate companies – at cost plus equity-accounted earnings excluding goodwill |
|
|
— |
|
|
297,7 |
|
— |
| Other unlisted investments – at cost |
|
|
8,3 |
|
|
7,0 |
|
7,0 |
| Loans – at cost |
|
|
52,3 |
|
|
52,4 |
|
52,3 |
| Long-term accounts receivable |
|
|
— |
|
|
319,4 |
|
— |
| Financial instrument – Investment in NSN – at fair value*, made up as follows: |
|
|
806,0 |
|
|
806,0 |
|
806,0 |
| Carrying value of NSN at 1 October 2007, previously an unlisted company, now a financial instrument |
|
|
119,7 |
|
|
119,7 |
|
119,7 |
| Unamortised goodwill arising on a further acquisition in a previous period |
|
|
|
|
|
|
|
|
| (refer to note 6). |
|
|
94,6 |
|
|
94,6 |
|
94,6 |
| Pre-acquisition dividend received from NSN |
|
|
(68,6) |
|
|
— |
|
(68,6) |
| Fair value adjustment |
|
|
660,3 |
|
|
591,7 |
|
660,3 |
 |
|
|
|
|
|
|
|
|
| Total carrying value |
|
|
866,6 |
|
|
1 482,5 |
|
865,3 |
| Directors’ valuation of unlisted investments |
|
|
|
|
|
|
|
|
| – Unlisted associate companies (2008: Quince Capital Holdings (Pty) Limited (Quince))** |
|
|
— |
|
|
404,0 |
|
— |
| – Other unlisted investments (includes NSN at R806,0 million) |
|
|
814,3 |
|
|
813,0 |
|
813,0 |
**The fair value of the investment is the discounted cash flow of the minimum amount specified in the NSN group, in the event of a sale to NSN group, together with an estimation of future commissions. The first time a sale may takeplace in terms of the agreement is 31 December 2010.
**With effect from 1 June 2008, Reunert Limited bought the remaining 53% of Quince’s . |
