135 / 170
2016
%
2015
%
2016
R’000
2015
R’000
3.
INVESTMENT IN SUBSIDIARIES
Caterplus Botswana Proprietary Limited
(1)
100
100
11
11
Bidvest International Limited
(2)
100
100
1 254 897
1 254 897
Bidvest Foodservice International Limited
(2)
100
100
1 440 209
1 440 209
Bidvest Food Mauritius Limited
(3)
90
90
#
#
Bidvest Food Zambia Limited
(4)
60
60
3 652
653
Bidvest Food Malawi
(5)
60
60
2 700
1 500
Bidvest Food Africa Proprietary Limited
100
–
3 053 173
–
Bidvest Food Property Proprietary Limited
100
–
851 028
–
BTW Investments Proprietary Limited
100
–
1 523 815
–
Express Air Services (Zambia) Limited
(4)
–
50
–
3
Bidvest Zambia Limited
(4)
–
100
–
#
Express Air Services (Zimbabwe) Limited
(6)
–
100
–
#
8 129 485
2 697 273
In terms of the internal restructuring that was completed in April 2016, which was prior to the listing of Bidcorp and unbundling of Bidcorp
from The Bidvest Group Limited:
■
■
EAS Zimbabwe Private Limited, EAS Zambia Limited and Bidvest Zambia Limited were collectively disposed to The Bidvest Group
Limited.
■
■
Bidvest Food Africa Proprietary Limited, Bidvest Food Properties Proprietary Limited and BTW Investments Proprietary Limited (Bidvest
treasury shares) were transferred to Bidcorp from The Bidvest Group Limited in terms of asset for share transactions and unbundling
transactions in accordance with the provisions of sections 42 and 46 of the Income Tax Act.
Country of incorporation if not South Africa:
(1)
Botswana
(2)
Isle of Man
(3)
Mauritius
(4)
Zambia
(5)
Malawi
(6)
Zimbabwe
Investment in subsidiaries are reflected at cost less accumulated impairment losses. No impairment was identified for the current financial
year (2015: Rnil).
A list of indirectly held subsidiaries is available for inspection at the registered office of the company and shown in annexure A.
#
Amounts below R1 000.
Bidcorp Limited Annual integrated report 2016 |
Page 131
Financial overview