Notes to the consolidated annual financial statements l Note 38

38. Events after the reporting period
 

On 23 October 2015 the company repurchased 14 485 013 Barloworld shares from the strategic black partners and community service group at par and cancelled the shares in terms of the 2008 B-BBEE transaction. On 5 November 2015 the strategic black partners and community service group subscribed for 1 590 622 Barloworld shares at R179.69 per share. In addition the participants subscribed for an additional 450 000 Barloworld shares at par.

Subsequent to year end, Automotive Northern Cape acquired the net assets of the Toyota and Volkswagen dealerships in Postmasburg for R28 million, effective 31 October 2015.


Notes to the consolidated annual financial statements l Note 38