AFRICAN DAWN ANNUAL REPORT 2019 Notes to the Financial Statements continued Annual Financial Statements For the year ended 28 February 2019 68 17. Borrowings GROUP Loan Balance 2019 R’000 Toothrock The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 850 MC Theunissen The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 50 JP Verwey The loan bears interest at prime, is secured on ceded debtors and is repayable over 3 months. 180 JC Breedt The loan bears interest at prime, is secured on ceded debtors and is repayable over 3 months. 550 Peregrine Financial Services loan (A) Interest is charged at prime +1%, currently 11.25%. Capital repayments of R698,000 will be made during the 2020 financial year amounting to an average of R162,500 per month. Interest is paid together with the monthly capital repayments as they fall due. The loan is unsecured. 698 Peregrine Financial Services Interest loan (C) Interest is charged at prime +1%, currently 11.25%. Capital repayments will commence once the Peregrine Financial Services Loan (A) has been settled in the 2020 year. Capital repayments of R2,902,000 will be paid during the 2020 financial year for 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 The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 250 M Springer The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 300 CPA Peyper The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 100 AS Van der Westhuizen The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 80 A Stoop The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 25 C Stoop The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 310 B Mitchell The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 15 JC Breedt The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 55 Makulu Capital Proprietary Limited The loan bears interest at 15%, is unsecured and is repayable on an ad-hoc basis. 397 Shockproof Investments Proprietary Limited The loan bears interest at 15%, is unsecured and is repayable on an ad-hoc basis. 12 7,205
AFDAWN AR FINAL 2019
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