| SUMMARISED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS l NOTE 5 |
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Audited |
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2014
Rm |
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2013
Rm
Restated* |
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| 5. |
PROCEEDS ON DISPOSAL OF SUBSIDIARIES, INVESTMENTS AND INTANGIBLES |
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Inventories disposed |
826 |
|
90 |
|
| |
Receivables disposed |
160 |
|
182 |
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Payables, taxation and deferred taxation balances disposed and settled |
(384) |
|
(159) |
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Borrowings net of cash |
(180) |
|
(56) |
|
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Property, plant and equipment, non-current assets, goodwill and intangibles |
878 |
|
48 |
|
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Net assets disposed |
1 301 |
|
105 |
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Less: Non-cash translation reserves realised on disposal of foreign subsidiaries |
(413) |
|
(14) |
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Profit on disposal |
456 |
|
14 |
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Net cash proceeds on disposal of subsidiaries |
1 343 |
|
105 |
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Bank balances and cash in subsidiaries disposed |
(44) |
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Proceeds on disposal of investments and intangibles |
17 |
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Cash proceeds on disposal of subsidiaries, investments and intangibles |
1 316 |
|
105 |
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The net cash proceeds on disposal of subsidiaries relates to the disposal of Fern Tree Gully, during October 2013, Flynt
Logistics Operations during November 2013 and Handling Holland during December 2013. The proceeds on disposal of the
remaining portion of Motor Retail Australia were received in April 2014. Additional proceeds of R3.2 million were received in
June 2014. |
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* Restated for the treatment of IFRS 10, IAS 19 and discontinued operations – refer to . |
| SUMMARISED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS l NOTE 5 |
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