| |
|
|
GROUP |
| |
|
|
2011
Rm |
|
|
2010
Rm |
| 12. |
Loans |
|
|
|
|
|
| |
The following loans have been advanced by subsidiary companies: |
|
|
|
|
|
| |
Employees |
|
|
|
|
|
| |
Executive directors |
|
|
|
|
|
| |
At 1 March |
|
0.8 |
|
|
0.8 |
| |
Advanced |
|
— |
|
|
— |
| |
Repaid |
|
(0.3) |
|
|
— |
| |
At 28 February |
|
0.5 |
|
|
0.8 |
| |
Other employees |
|
86.9 |
|
|
120.7 |
| |
Amounts owing to participants of the share purchase scheme |
|
(0.8) |
|
|
(0.4) |
| |
Total employee loans |
|
86.6 |
|
|
121.1 |
| |
Trading loan |
|
4.0 |
|
|
4.0 |
| |
Holding company loan |
|
(0.4) |
|
|
(0.4) |
| |
Total loans at 28 February |
|
90.2 |
|
|
124.7 |
| |
Loans to directors and employees are secured, bear interest at varying rates subject to a maximum rate of 8% (2010: 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. |
