|
|
|
|
|
|
|
|
|
| Balance at the beginning of the year |
62 930 |
|
52 634 |
|
– |
|
– |
|
| Dividend distributions (Note 30) |
(9 522) |
|
(14 446) |
|
– |
|
– |
|
| Share buy back from non-controlling interests¹ |
(46 866) |
|
– |
|
– |
|
– |
|
| Purchase of shares² |
(525) |
|
– |
|
– |
|
– |
|
| Additional non-controlling interest arising on disposal of interest in ACT Healthcare Assets³ |
456 263 |
|
– |
|
– |
|
– |
|
| Share of net profit of subsidiaries |
53 323 |
|
24 742 |
|
– |
|
– |
|
| |
515 603 |
|
62 930 |
|
– |
|
– |
|
Note 1: During the year, AfroCentric Health (Pty) Ltd (a subsidiary of AfroCentric Incorporation Limited), bought back the remaining minority shareholding
for R3.7 per share. The total amount paid for the minority buyout amounted to R122 million of which R46.8 million relates to the minority interest and
R75.2 million which was recognised directly in equity.
Note 2: During the year AfroCentric Health (Pty) Limited had purchased an additional 22% shareholding in Klinikka (Pty) Limited, increasing its
shareholding from 70% to 92%.
Note 3: Sanlam Life Insurance Limited (“Sanlam”) acquired a 28.7% shareholding in ACT Healthcare Assets (Pty) Limited, a directly held subsidiary in
AfroCentric Investment Corporation Limited. As the transaction with Sanlam does not result in a loss of control of ACT Healthcare Assets (Pty) Limited,
the transaction will be regarded as an equity transaction resulting in Sanlam’s non-controlling interest portion of R456 million being recognised on the
transaction date. The profit portion relating to the transaction is recognised directly in equity amounting to R246 million. |