AFRICAN DAWN ANNUAL REPORT 2018 Notes to the Financial Statements continued Annual Financial Statements For the year ended 28 February 2018 67 18. Borrowings GROUP 2018 R’000 Loan Balance HT Malan The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 100 ME Malan The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 100 JP Verwey The loan bears interest at prime, is secured on ceded debtors and is repayable over 3 months. 180 National Housing Finance Corporation (“NHFCE”) The facility is secured by the associated debtors, bears interest at prime + 5% and is repayable over 5 years from the borrowing date. African Dawn Capital Limited has provided a guarantee on the loan facility. Elite has drawn down less than the amounts permitted in terms of the contract. Refer to Note 41. 128 Sandown Capital loan (A) Interest is charged at prime +1%, currently 11.25% per annum. Capital repayments of R1,950 000 will be made during the 2019 financial year amounting to an average of R162,500 per month with R698,000 being repayable during the 2020 financial year. Interest is paid together with the monthly capital repayments as they fall due. The loan is unsecured. 2,648 Sandown Capital Interest loan (C) Interest is charged at prime +1%, currently 11.25% per annum. Capital repayments will commence once the Sandown Capital Loan (A) has been settled during the 2020 financial year. Capital repayments of R2,902 000 will be made during the 2020 financial year amounting to an average of R242,000 per month with R431,000 being repayable during the 2021 financial year. Interest is accrued and paid on a monthly basis. The loan is unsecured. 3,333 GC Oosthuizen Loan bears interest of 10.5% per annum, is secured by ceded debtors of a maximum of twice R 100 000, and is repayable over 6 months. 387 M Springer The loan bears interest of R 10.5% per annum is secured by ceded debtors to twice the loan value and is repayable over 6 months. 150 CPA Peyper The loan bears interest of R 10.5% per annum is secured by ceded debtors to twice the loan value and is repayable over 6 months. 100 DJC Beukes The loan bears interest of R 10.5% per annum is secured by ceded debtors to twice the loan value and is repayable over 6 months. 200 JC Breedt The loan bears interest of R 10.5% per annum is secured by ceded debtors to twice the loan value and is repayable over 6 months. 350 C Lacante The loan bears interest of R 10.5% per annum is secured by ceded debtors to twice the loan value and is repayable over 6 months. 30 C Stoop The loan bears interest of R 10.5% per annum is secured by ceded debtors to twice the loan value and is repayable over 6 months. 185 Makalu Capital The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 306 T Nel The Loan bears interest of 10,5% per annum and is unsecured. 93 Nedbank mortgage bond The loan was settled during the year in terms of the sale of property in possession. Refer to Note 8. - 8,290

AFRICAN DAWN 2018 Annual Report

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