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Integrated Report 2016
ANNUAL FINANCIAL STATEMENTS
(continued)
SIX
THREE
ONE
FOUR
TWO
2016
R’000
2015
R’000
E.
CASH AND CASH EQUIVALENTS
E.1 CASH AT BANKS
2 367
–
E.2 BANK OVERDRAFT
–
398 229
Positive balances attract interest at 5,75% and overdrafts incur interest at 8,0%.
F.
AMOUNTS OWING BY/TO GROUP COMPANIES
F.1 AMOUNTS OWING BY GROUP COMPANIES
Included in current assets
Adcock Ingram Healthcare Proprietary Limited
–
102 154
Adcock Ingram International Proprietary Limited
167 154
167 154
Adcock Ingram Critical Care Proprietary Limited
160 000
–
Mpho ea Bophelo Trust
–
10
327 154
269 318
The loans are unsecured, interest free, and have no fixed terms of repayment.
F.2 AMOUNTS OWING TO GROUP COMPANIES
Included in non-current liabilities
Adcock Ingram Limited
2 155 994
2 155 994
Included in current liabilities
Adcock Ingram Healthcare Proprietary Limited
345 812
–
2 501 806
2 155 994
The loans are unsecured, interest free, and have no fixed term of repayment.
It is not expected that the subsidiaries would call for payment within the next 12 months.
Fair vlaue approximates carrying value.
G.
SHARE CAPITAL
G.1 AUTHORISED
Ordinary share capital
250 000 000 ordinary shares of 10 cents each
25 000
25 000
19 458 196 A shares of 10 cents each
–
1 946
6 486 065 B shares of 10 cents each
–
649
The terms and conditions of the A and B ordinary shares were that:
A and B ordinary shares ranked
pari passu
with the ordinary shares, save that:
(i) these A and B ordinary shareholders could not participate in any special dividends declared or paid by the Company, unless the
respective notional outstanding loan balances had become zero at any time prior to the respective release dates, in which event
these A and B ordinary shares would have been entitled to participate in all special dividends declared or paid by the Company;
(ii) A and B ordinary shares would remain certificated and would not be listed on any stock exchange;
(iii) for so long as the ordinary shares were listed on the JSE, the rights attaching to these A and B ordinary shares could not be
amended in any material respect without the prior written approval of the JSE; and
(iv) these terms and conditions could only be amended as prescribed by sections 43 and 44 of the Memorandum of Incorporation
of the Company.