Page 64 - Stellar IAR2015

NOTES TO THE ANNUAL FINANCIAL STATEMENTS (CONTINUED)3. INVESTMENTS AT FAIR VALUE (Continued)InvestmentTorre Industries LtdGoliath Gold Mining LtdMine Restoration Investments LtdTellumat (Pty) LtdCadiz Holdings LtdIntegrated Equipment Rentals (Pty) LtdPraxis Financial Services (Pty) LtdClassi cationAssociateAssociateAssociateAssociateAssociateSubsidiarySubsidiaryAssessment of controlStellar Capital holds less than 50% of the voting rights, but more than 20% and after considering the requirements of IFRS 10, does not control the entity, but has signi cant in uence.Stellar Capital held less than 50% of the voting rights, but more than 20% and after considering the requirements of IFRS 10, did not control the entity, but had signi cant in uence.Stellar Capital holds less than 50% of the voting rights, but more than 20% and after considering the requirements of IFRS 10, does not control the entity, but has signi cant in uence.Stellar Capital holds less than 50% of the voting rights, but more than 20% and after considering the requirements of IFRS 10, does not control the entity, but has signi cant in uence.Stellar Capital holds less than 50% of the voting rights, but more than 20% and after considering the requirements of IFRS 10, does not control the entity, but has signi cant in uence.Although Stellar Capital only has 50% of the voting rights, it is able to exercise control as it is responsible for the nancial management of the entity and is solely responsible for the nancing of the entity.Stellar Capital has the majority of voting rights with 51% and is able to exercise control of the investment.60 | STELLAR CAPITAL PARTNERS