AFRICAN DAWN ANNUAL REPORT 2019 Notes to the Financial Statements continued Annual Financial Statements For the year ended 28 February 2019 GROUP Loan Balance 69 2018 R’000 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. 128 Peregrine Financial Services loan (A) Interest is charged at prime +1%, currently 11.25%. Capital repayments of R1,950,000 will be made during the 2019 financial year amounting to and 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 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 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 The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 387 M Springer The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 150 CPA Peyper The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 100 DJC Beukes The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 200 JC Breedt The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 350 C Lacante The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 30 C Stoop The loan bears interest at prime, is secured on ceded debtors and is repayable over 6 months. 185 Makalu Capital The loan bears interest at prime, is unsecured and is repayable over 6 months. 306 T Nel The Loan bears interest of 10,5% per annum and is unsecured. 93 8,290 Non-current Liabilities Group Company 2019 2018 2019 2018 R’000 R’000 R’000 R’000 At amortised cost 431 4,031 - - 431 4,031 - - Current Liabilities At amortised cost 6,774 4,259 409 - 6,774 4,259 409 - 7,205 8,290 409 -
AFDAWN AR FINAL 2019
To see the actual publication please follow the link above