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June 2016
R’000 |
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June 2016
R’000 |
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| Deferred payment |
5 051 |
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– |
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– |
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– |
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On 1 March 2017 (“effective date”) AfroCentric concluded agreements governing the acquisition of 51% of The Cheese Has
Moved Proprietary Limited. The Cheese Has Moved Proprietary Limited is an integrated marketing business which specialises
in TV, print, radio, social media, relationship and direct marketing, graphic design, direct response advertising, to name a few.
The purchase consideration was R5.051 million broken into R1 cash consideration as well as R5.051 million as deferred
payment liability (forfeited dividends in the future).
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