AFRICAN DAWN ANNUAL REPORT 2019 Notes to the Financial Statements continued Annual Financial Statements For the year ended 28 February 2019 60 6. Investments in subsidiaries The following table lists the entities which are controlled by the Group, either directly or indirectly through subsidiaries. The principal place of business and incorporation for all subsidiaries is South Africa. The carrying amounts of the subsidiaries are shown net of impairment losses. The carrying amounts of investments in subsidiaries were reassessed for impairment at year end and impaired as indicated. Company Name of company % voting power 2019 % voting power 2018 Nature Carrying value 2019 R’000 Carrying value 2018 R’000 ABC Cashplus (Randburg) Proprietary Limited 100 % 100 % Dormant - - ABC Cashplus Financial Services Proprietary Limited 100 % 100 % Dormant - - African Dawn Debt Management Proprietary Limited 100 % 100 % Dormant - - African Dawn Kwazulu Natal Proprietary Limited 100 % 100 % Dormant - - African Dawn Property Transfer Finance 1 Proprietary Limited 100 % 100 % Bridging Finance - - African Dawn Property Transfer Finance 2 Proprietary Limited 100 % 100 % Bridging Finance - - African Dawn Social Education Proprietary Limited 100 % 100 % Dormant - - African Dawn Wheels Operations Proprietary Limited 100 % 100 % Dormant - - African Dawn Wheels Proprietary Limited 100 % 100 % Vehicle finance - - Albistar Investments Proprietary Limited 100 % 100 % Dormant - - Almika Properties 81 Proprietary Limited 100 % 100 % Dormant - - Amalgum Investments 138 Proprietary Limited 100 % 100 % Dormant - - Bhenka Financial Services Proprietary Limited 100 % 100 % Dormant - - Candlestick Park Investments Proprietary Limited 100 % 100 % Dormant - - Elatiflash Proprietary Limited 100 % 100 % Dormant - - Elite Group Two Proprietary Limited 100 % 100 % Unsecured lending - - Elite Group Proprietary Limited^ 100 % 100 % Unsecured lending 8,322 3,322 YueDiligence Proprietary Limited # 100 % 85 % Consulting 3,055 3,055 SME Snapshot #* - 100 % Consulting - - 11,377 6,377 The year end of all subsidiaries are the same as the group year end. ^ After the Specific Issue of Share for Cash in December 2018 (refer to Note 16) a further R5million was invested in share capital of Elite Group. # YueDiligence holdings increased because of the disposal of the SME Snapshot for the share capital that was previously owned by the minority shareholders, refer to Note 11. * Was indirectly held through YueDiligence.
AFDAWN AR FINAL 2019
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