Note 31

31.

Puttable non-controlling interest liabilities

The acquisition of certain subsidiaries in prior years, resulted in put options being agreed with certain of the non-controlling shareholders. The put options entitle the non-controlling shareholders to sell their holdings in the subsidiaries to the Group at contracted dates and amounts.

There were no acquisitions that resulted in put option liabilities during the year:

	2017 R’000	2016 R’000
The affect of granting these put options on the Group’s results can be summarised as follows:
Balance at beginning of year	49 167	939 430
Arising on the granting of put options to non-controlling interests during the year	–	68 944
Fair value adjustments recorded directly in retained income	8 676	787
Unwinding of present value discount recognised in the income statement
– continuing operations	3 147	2 124
– discontinued operations	–	21 486
Exchange rate adjustments	–	269 769
Unbundling of puttable non-controlling interest liabilities	–	(1 253 373)
	60 990	49 167
Discount rate	6,0%	7,5%
Expected settlement dates	1 July 2019	1 July 2019
	– 30 June 2021	– 30 June 2021