2007 / 2008 Annual Report - Eastern Cape Development Corporation

EASTERN CAPE DEVELOPMENT CORPORATION 2007/0832 Related parties (CONTINUED)Eastern Cape Provincial Government EntitiesThe Corporation leases properties to the following Eastern Cape provincial government entities at market relatedrentals:GroupCorporation2008R’0002007R’0002008R’0002007R’000Rent billingsProvincial GovernmentEastern Cape Provincial LegislatureDepartment of Sports, Arts, Recreation and CultureDepartment of TransportDepartment of Public WorksDepartment of Health40104397616136943568145420 378Compensation to key management and other senior managersShort-term employee benefits 9,419 8,376 4,659 4,354Contributions to post employment benefit fundEmployerEmployee3,4631,8313,4111,5123,2821,7143,2501,5125,294 4,923 4,996 4,762Other related partiesThe Corporation acquires equity investments in certain entities to which it has advanced loan funds as security for theseloans or as part of its investment strategy. Transactions with these entities during the period were as follows:Related partyBorder CopiersMagwa Tea Enterprise (Proprietary) LimitedS&P KareedouwZingisi Forest Products33 Directors’ emolumentsNon-executiveInterestreceived614-79-Dividendsreceived---42Impairmentexpense(1,100)(3,936)--693 42 (5036)2008 Fees OtherexpensesFor service as directors 245 180 425Total2007 Fees OtherexpensesFor service as directors 529 512 1,041TotalFurther details in respect of director’s fees are disclosed in paragraph 13 to the Director’s Report.99