2015  2014 
    R000  R000 

14

LONG-TERM BORROWINGS

   
  3 461 (2014: 3 461) unsecured redeemable preference shares of R100 000 each issued to the Standard Bank of South Africa Limited (SBSA) with dividends payable half-yearly at 75% of the prime lending rate published by SBSA    
  Unredeemed at beginning of year 346 100  846 100 
  Voluntary redemption in prior year: 24 March 2014 5 000 shares –  (500 000)
  Balance: 3 461 (2014: 3 461) shares to be redeemed by latest 24 February 2017 346 100  346 100 
  Dividends paid on the preference shares during the year were as follows:    
  On 6 October 2014 (2014: 7 October 2013) 11 304  27 859 
  On 2 April 2015 (2014: 7 April 2014) 11 023  11 196 
  On 5 March 2014, upon voluntary redemption of 5 000 shares –  15 126 
    22 327  39 055