Notes to the Group financial statements

for the year ended 30 June

  Group companies have guaranteed borrowing facilities of certain Group subsidiaries in which the Group has less than 100% shareholding. The Group has therefore effectively underwritten the minorities’ share of these facilities in the amount of R583 million at 30 June 2014 (June 2013: R612 million).  

Wild Coast Land Claim  
The land claimants, being the Mgungundlovu Community, are asking the Land Claims Court for relief in the form of declaring the company’s long-term notarial lease over the Wild Coast Sun property invalid; alternatively ordering restitution of ownership of the property from the State to the Community. The latter ground is not an issue. The first ground is being defended in that the loss of the lease would result in the revocation of the Wild Coast Sun’s casino licence due to the absence of tenure to the property, which is a requirement in terms of the Eastern Cape gambling legislation. The trial is scheduled to start in early November 2014. It is difficult to assess the Community’s prospects of success with this ground but at a Group level the exposure is perhaps not significant.