AFRICAN DAWN ANNUAL REPORT 2019 Notes to the Financial Statements continued Annual Financial Statements For the year ended 28 February 2019 Related party balances Group Group Company Company 80 2019 2018 2019 2018 R’000 R’000 R’000 R’000 Loan accounts - Owing (to) by related parties Elite owes Peregrine Financial Services (4,031) (5,981) - - Phezula Group CC - 418 - - Makalu Capital Proprietary Limited (397) - (397) - Shockproof Investments Proprietary Limited (12) - (12) - Outstanding loans to directors WJ Groenewald (428) (100) (428) (100) G Hope (2,392) (585) (2,392) (585) Related party transactions Cash paid to directors on acquisition of Knife Capital EA Van Heerden (A) - 20 - 20 JK Van Zyl (A) - 20 - 20 A Bohmert (A) - 20 - 20 Administration fees (received from) paid to related parties African Dawn Capital Limited - (23) - - Elite Group Proprietary Limited 4 - - - Knife Capital - 12 - - Shockproof Investments Proprietary Limited (3) Makalu Capital Proprietary Limited (1) Grindstone - 63 - - KNF Ventures (RF) (Proprietary) Limited - (457) - - TechNVest (Proprietary) Limited - (447) - - Knife Capital - (52) - - Commission (received from) paid to related parties African Dawn Wheels Proprietary Limited 1 1 - - Elite Group Proprietary Limited (1) (1) - - Interest (received)/paid from related parties Elite Group Proprietary Limited - - 95 94 G Hope - director 301 7 301 7 WJ Groenewald 75 56 75 56 Arvesco 153 Proprietary Limited 27 - 20 - Shockproof Investments Proprietary Limited 17 - 12 - Makalu Capital Proprietary Limited 51 - 45 - Impairment of group loans refer to Note 8
AFDAWN AR FINAL 2019
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