Interest in subsidiary companies
as at 31 August 2011
| Shares at cost less amounts written off | Amount owing by subsidiaries | ||||||
|---|---|---|---|---|---|---|---|
| Name of company/entity and nature of business |
Country of incorporation |
Ordinary issued share capital/ trust capital |
2011 R’000 |
2010 R’000 |
2011 R’000 |
2010 R’000 |
|
| Directly held | |||||||
| i) | Trading | ||||||
| New Clicks South Africa (Proprietary) Limited | South Africa | R500 | 272 439 | 272 439 | 568 267 | 570 185 | |
| ii) | Clicks Group Employee Share Ownership Trust | South Africa | R1 000 | – | – | 291 | – |
| iii) | Property owning | ||||||
| Clicks Centurion (Proprietary) Limited | South Africa | R10 | * | * | 9 000 | 9 000 | |
| Optimprops 93 (Proprietary) Limited | South Africa | R100 | – | 13 | – | – | |
| Indirectly held | |||||||
| i) | Trading | ||||||
| Safeway (Swaziland) (Proprietary) Limited | Swaziland | E2 | – | – | – | – | |
| The Clicks Organisation (Botswana) (Proprietary) Limited | Botswana | BWP 3 000 | – | – | – | – | |
| Clicks Group (Namibia) (Proprietary) Limited | Namibia | N$100 | – | – | – | – | |
| The Clicks Group Finance Company (Proprietary) Limited | South Africa | R999 | – | – | – | – | |
| Unicorn Pharmaceuticals (Proprietary) Limited | South Africa | R10 | – | – | – | – | |
| Clicks Retailers (Proprietary) Limited | South Africa | R200 | – | – | – | – | |
| Milton & Associates (Proprietary) Limited | South Africa | R200 | – | – | – | – | |
| Leon Katz (Proprietary) Limited | South Africa | R200 | – | – | – | – | |
| J & G Purchase & Associates (Proprietary) Limited | South Africa | R220 | – | – | – | – | |
| Kalahari Medical Distributors (Proprietary) Limited | Botswana | BWP 360 | – | – | – | – | |
| Clicks Direct Medicines (Proprietary) Limited | South Africa | R700 | – | – | – | – | |
| Direct Patient Support (Proprietary) Limited | South Africa | R100 | – | – | – | – | |
| ii) | Name protection and dormant | ||||||
| 9 companies (2010: 8 companies) | – | – | – | – | |||
| 272 439 | 272 452 | 577 558 | 579 185 | ||||
| Shares at cost less amounts written off | 272 439 | 272 452 | |||||
| Amounts owing by subsidiary companies | 577 558 | 579 185 | |||||
| Share-based payments capitalised | 39 926 | 24 600 | |||||
| Interest in subsidiaries | 889 923 | 876 237 | |||||
All subsidiary companies/entities are wholly-owned with the exception of The Link Investment Trust (“Link”) and Kalahari Medical Distributors (Proprietary) Limited (“Kalahari”).
Clicks Group Limited has a 56% interest in Link and 90% in Kalahari.
The loan to Link is interest free, unsecured and is repayable in annual instalments, not exceeding 10% of the underlying profit of the entity.
The loan and investment in Link were impaired in prior years as the carrying value of the loan and investment exceeded the present value of management’s best estimate of likely future cash flows discounted at the group’s risk adjusted pre-tax weighted average cost of capital. All other loans are interest free, unsecured and an unconditional right to defer payment for 12 months exists.
* Values less than R1 000.
Clicks Group Limited