2016  2015 
    R’000  R’000 

5

RESTRICTED CASH

   
  On 25 June 2015, the company acquired ARM’s 50% share of Dwarsrivier Chrome Mine (Dwarsrivier), held by Assmang. The completion of the transaction was subject to certain conditions precedent (CPs), which at year-end had not all been fulfilled. Pursuant to the agreement concerned, an amount of R450 million was placed in an escrow account. Once all the CPs have been met, the balance (inclusive of accrued interest and certain contractual adjustments to accommodate the change in value of the asset since 1 July 2014 (effective date of acquisition)) will be released in favour of ARM.
The transaction was completed on 29 July 2016 (refer note 20).
   
       
  Cash including interest received held in escrow at year-end 479 522  450 000