33. 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.

No new put options were entered into during the period
 
2020 
R'000 		 2019 
R'000 		   
The affect of granting these put options on the Group's results can be summarised as follows: 
Balance at beginning of the year  82 317  90 530    
Fair value adjustments recorded directly in retained income  (1 266) 7 115    
Unwinding of present value discount recognised in the income statement  1 796  5 013    
Put options settled  (57 050) (16 500)   
Dividends paid  (3 795) (3 841)   
22 002  82 317    
Discount rate  7.0%  6.0% – 7.0%    
Expected settlement dates  1 July 
2022 		 1 July
2020 –
1 July
2022