Group structure

1. The Boleng Trust is a black economic empowered entity which controls the majority of the voting rights in a special-purpose vehicle that owns 14,28% of Assore’s issued ordinary shares (refer note 4 below and “Black economic empowerment status report”).
2. The Fricker Road Trust is a black economic empowered entity which controls the majority of the voting rights in a special-purpose vehicle that owns 11,79% of Assore’s issued ordinary shares. The Assore Employee Trust controls the remainder of the voting rights (refer note 4 below and “Black economic empowerment status report”).
3. Subsequent to the financial year-end, Assore acquired the remaining 50% interest in Assmang’s Dwarsrivier Chrome Mine from ARM, completing the transaction on 29 July 2016 (refer here for more detail).
4. A black economic empowerment entity, Mampa Investment Holdings Proprietary Limited, has a 44% equity interest in Rustenburg Minerals Development Company Proprietary Limited (refer “Black economic empowerment status report”).
5. More detail on the impact of the requirement of IFRS to consolidate these trusts is included here and here of this report.