Notes to the Company financial statements

for the year ended 30 June

		R million	2014	2013
	7.	LOANS AND RECEIVABLES
		Loans
		Share incentive schemes	154	125
		Loan to Group company	1	1
		Loans to subsidiaries	2 329	1 660
			2 484	1 786
		Less: Impairment of loans to subsidiaries	(421)	(421)
			2 063	1 365
		Current portion	(1 783)	(1 071)
			280	294
		Loans are due over the following periods:
		Less than 1 year	1 783	1 071
		4 years and onwards	280	294
			2 063	1 365
		The weighted average interest and dividend rates were as follows:
		Share incentive schemes	NIB	NIB
		Loans to subsidiaries	3.1%	2.5%
		Other	NIB	NIB
		Weighted average	3.1%	2.5%
		NIB – Non interest bearing
		The carrying amounts of the loans to subsidiaries are denominated in the following currencies:
		US Dollar	766	–
		Chilean Pesos	–	49
		Nigerian Naira	192	172
		South African Rand	1 371	1 439
			2 329	1 660
		Other than the impaired loans, the loans are fully performing with the associated credit risk considered to be low.   The fair value of loans and receivables approximates their carrying value.   The loans and receivables are classified as level 3 financial instruments and there have been no changes or transfers between levels during the year.