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The loan to
African Hide Trading Corporation (Proprietary) Limited was
interest–free and was repayable in four equal annual instalments.
Suretyship was provided by Courthiel Holdings (Proprietary)
Limited, who was co–principal debtor to the above loan. The loan
was repaid during 2005. |
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The loan to Stock
Owners Co–operative Limited in respect of the sale of the
Queenstown Abattoir was repayable on 31 March 2005. Legal
proceedings are in place to recover the amount from the Land Bank
of South Africa, who secured the loan by bank guarantee. |
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The loan to
Trifecta Trading 112 (Proprietary) Limited is interest–free and
is repayable in monthly instalments of R0,3 million until
April 2006. Security has been provided by a general notarial bond
over the inventory of Trifecta Trading 112 (Proprietary) Limited
as well as a cancellation clause in the sale agreement which
provides for the return of the business of Barker Footwear to the
seller on non–performance of the purchaser. |
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The loan to Blue
Nightingale Trading 462 (Proprietary) Limited is in respect of
plant and equipment disposed of by the discontinued division of
Wayne Rubber. The loan is interest free for the first two years,
thereafter it becomes interest bearing at prime overdraft rate
less one percent. The loan is then repayable in five equal annual
instalments, with the first instalment due on 1 October 2007.
Security has been provided by a general notarial bond over the
assets of Blue Nightingale Trading 462 (Proprietary) Limited. |
