The subsidiaries and associates of the Group are related parties of the Company. The Company has made loans to, and has received loans from, certain of these entities, details of which are reflected on Annexure A of these financial statements.

The Group continued its project to restructure the statutory structure to more closely resemble the reporting structure, as a result the Company received shares in Bidvest Property Holdings Pty Ltd (BPH) and Bidvest Industrial Holdings Pty Ltd (BIH) in exchange for certain of its investments in subsidiaries. This resulted in an increased cost in BPH and BIH of R4 billion and R891 million respectively. These transactions resulted in a fair value profit on reorganisation of R4,3 billion in the Company.

Details of income received from these related parties are included in the statement of comprehensive income.

All expenditure incurred by the Company is borne by a subsidiary in lieu of administration fees. The Company participates in a cash pooling arrangement provided by The Standard Bank of South Africa Limited. Any interest accruing on its cash balances held, are reflected in the cash management account held by the Group’s nominated company which is not the Company.

Details pertaining to executive and non-executive directors’ compensations are set out in Annexure B.