| |
|
2011 |
2010 |
| |
|
R’000 |
R‘000 |
7. |
Short-term borrowings |
|
|
| |
220 redeemable cumulative variable rate preference shares issued to SBSA on 15 September |
|
|
| |
2008, which are required to be redeemed annually in tranches of at least R500 million, |
|
|
| |
commencing on the last day of February in 2010. Preference dividends accrued at a rate |
|
|
| |
linked to the prime lending rate applied by SBSA. |
|
|
| |
Balance at beginning of year (93 shares (2010: 143 shares)) |
930 000 |
1 430 000 |
| |
Shares redeemed during the year (93 shares (2010: 50 shares)) |
(930 000) |
(500 000) |
| |
Balance at end of year (nil (2010: 93 shares)) |
– |
930 000 |
| |
|
|
|