| 2015 | 2014 | ||
| R’000 | R’000 | ||
1 |
INVESTMENT IN GROUP COMPANIES |
||
| Joint venture entity (refer below) | 468 153 | 468 153 | |
| Subsidiary companies (refer below) | 2 439 | 2 439 | |
| 470 592 | 470 592 | ||
| Investment in joint venture entity | |||
| Assmang Proprietary Limited (Assmang) | |||
| 1 774 103 (2014: 1 774 103) ordinary shares at cost | 468 153 | 468 153 | |
Investment in subsidiary companies (refer to note 16) |
|||
| Shares at cost | 2 439 | 2 439 | |
Amounts due by/(to) subsidiary companies |
|||
| Loan accounts receivable | 4 680 891 | 4 781 805 | |
| Loan accounts payable | (1 078 041) | (1 078 041) | |
| Per note 16 | 3 602 850 | 3 703 764 | |
| Loan accounts receivable include cumulative redeemable preference shares in the amount of R4 086 906 000 (2014: R4 782 838 000), issued to structured entities (SEs), recognised as subsidiary companies, which have dividend rates of 75% (2014: 75%) of the prime interest overdraft rate, published by the Standard Bank of South Africa Limited (SBSA), and have no fixed terms of redemption. The remainder of the loan accounts receivable and all loan accounts payable are |
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| Accrued preference dividends from SEs | 306 295 | 214 636 | |