Notes to the annual financial statements
for the year ended 28 February 2010
| GROUP | |||
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| 2010 Rm |
2009 Rm |
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| 12. | Loans | ||
| The following loans have been advanced by subsidiary companies: | |||
| Employees | |||
| Executive directors | |||
| At 1 March | 0.8 | 1.2 | |
| Advanced | — | — | |
| Repaid | — | (0.4) | |
| At 28 February | 0.8 | 0.8 | |
| Other employees | 120.7 | 127.6 | |
| Amounts (owing to)/loans to participants of the share purchase scheme | (0.4) | 0.6 | |
| Total employee loans | 121.1 | 129.0 | |
| Trading loan | 4.0 | — | |
| Holding company loan | (0.4) | (0.4) | |
| Total loans at 28 February | 124.7 | 128.6 | |
Loans to directors and employees are secured, bear interest at varying rates subject to a maximum rate of 8% (2009: 8%) per annum and have varying repayment terms. Loans to employees from the Employee Share Purchase Trust are payable within 10 years from the date of advance. The trading loan is secured, bears interest at the prime bank rate and is repayable after one year. |
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