| 13 | OTHER FINANCIAL ASSETS | |||||
| 13.1 | LONG-TERM RECEIVABLE (AT AMORTISED COST) | |||||
| 2018 R’000 |
2017 R’000 |
|||||
| Black Managers Share Trust (BMT) | ||||||
| Balance at beginning of year | 39 840 | 72 095 | ||||
| Proceeds from sale | (5 232) | (32 038) | ||||
| Impairment (Refer Annexure G) | (2 535) | (217) | ||||
| 32 073 | 39 840 | |||||
| The maturity of the receivable from the BMT depends on how beneficiaries exercise their options until 30 September 2024 when the scheme is due to end or when a beneficiary dies. The proceeds on sale during the year is as a result of the capital contribution payments upon units being excercised after the lock-in period of R5.2 million (2017: R32.0 million). The impairment charge was as a result of the cost of the capital contribution exceeding the terminal amount (original capital contribution, increased by a notional return on the capital contribution and reduced by dividends distributed to the beneficiaries). Refer to Annexure B for further details. | ||||||
| 13.2 | INVESTMENTS | |||||
| Group Risk Holdings Proprietary Limited | ||||||
| Balance at beginning of year | 1 906 | 2 215 | ||||
| Disposal of shares | – | (318) | ||||
| Revaluation of investment through other comprehensive income | 31 | 9 | ||||
| 1 937 | 1 906 | |||||
| 34 010 | 41 746 |