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NotestotheConsolidatedFinancialStatements

(continued)

RCS GROUP CONSOLIDATED FINANCIAL STATEMENTS

2015

36

for the period ended 31 December 2015

13.

Investments in Associates

The RCS Group has the following equity investments, over which it exercised significant influence:

Portion of

Place of

ownership

incorporation

interest and

Principal

Carrying

Carrying

and operation voting power held

activity

value

value

31 December 2015

31 March 2015

R’000

R’000

Name of associates

Redwood Third Party

Consumer finance

Processing Proprietary Limited South Africa

25% outsourcing

2 386

2 386

The carrying amounts of associates were shown net of impairment losses and reversals.

During the current financial period the investment in Redwood was impaired with R786 thousand. The impairment is included

in note 23. Subsequent to the impairment, the investment in Redwood was sold for R1.6 million. No profit or loss was realised

on the sale.

The RCS Group’s share of the profit and loss was as follows:

Profit

9 Months ending 31 December 2015

R’000

Redwood Third Party Processing Proprietary Limited

12 Months ending 31 March 2015

Redwood Third Party Processing Proprietary Limited

170

Retail Capital Proprietary Limited

1 807

1977

31 December 2015

31 March 2015

R’000

R’000

14.

Stated capital

Authorised

80 000 (31 March 2015: 80 000) Ordinary shares of no par value

_

_

Issued

40 000 (31 March 2015: 40 000) Ordinary shares of no par value

2 636 636

2 636 636