Annual Report - JD Group

Notes to the Group annual financial statements continued
25. Related parties
Sustein Management (Pty) Ltd
All dealings with Sustein Management have been dealt with elsewhere
in this report and the directors’ remuneration included on pages 18 to 23.
54
2004 2003
Rm Rm
Non-consolidated subsidiaries
The Group’s dealings with its non-consolidated subsidiaries:
Loans
Finserve Mauritius Limited 49 71
Prosure Insurance Limited (25) (29)
Supreme Furnishers (Zambia) Limited 4 4
Supreme Furnishers (Namibia) (Pty) Ltd 128 128
156 174
Interest received
Finserve Mauritius Limited (6) (6)
Supreme Furnishers (Namibia) (Pty) Ltd (10) (7)
Interest of directors in contracts
All the Group’s corporate legal matters are performed by a company in which a
non-executive director has a controlling interest.
26. Subsequent events
BoConcept
In June of this year we sold the master licence for BoConcept UK, three stores and the contracts division back to the Danish parent
company. In addition we assigned another two leases and put the balance of the business, which was in effect three remaining leases,
into voluntary liquidation on 29 October 2004.
Nedcor Alliance
During November 2004 a joint decision was taken to terminate the Alliance with effect from 19 November 2004. This termination will
not have any material financial effect on either party.
Blake & Associates Holdings (Pty) Ltd (“Blakes”)
The Group announced on 12 August 2004 that it would acquire half of Unifer Holdings Limited’s (“Unifer”) (a wholly owned subsidiary
of ABSA Bank Limited) stake in Blakes. Subsequent to that announcement, JD Group and Unifer jointly acquired a further 5%
shareholding from a minority shareholder, which brings our holding to 27,5%.