| |
|
2009
R’million |
|
Restated
2008
R’million |
|
| 6. |
OTHER NON-CURRENT FINANCIAL RECEIVABLES |
|
|
|
|
|
Avid Brands SA (Pty) Ltd |
6,6 |
|
5,9 |
|
|
Current portion included in trade and other receivables |
(1,4) |
|
(1,2) |
|
|
|
5,2 |
|
4,7 |
|
|
An agreement was entered into with Avid Brands SA (Pty) Ltd, in terms of which the Group disposed of certain intellectual property and inventories. The repayment profile is set out below |
|
|
|
|
|
Year ended 30 June 2009 |
— |
|
1,2 |
|
|
Year ending 30 June 2010 |
1,4 |
|
1,4 |
|
|
Year ending 30 June 2011 |
2,9 |
|
1,6 |
|
|
Year ending 30 June 2012 |
2,3 |
|
1,7 |
|
|
|
6,6 |
|
5,9 |
|
|
The outstanding loan on the disposal of the intellectual property bears interest at prime minus 1%. No interest is charged on the outstanding balance in respect of inventories. |
|
Management considers the credit risk associated with these financial receivables to be low, as there has been no default on repayments. |
| |
The Group holds no collateral over the non-current financial receivables. |
|
| |
|
