Page 68 - Stellar IAR2015

NOTES TO THE ANNUAL FINANCIAL STATEMENTS (CONTINUED)3. INVESTMENTS AT FAIR VALUE (Continued)R’000 OpeningProceeds from disposals (1 376) (46 803) (51) (209 848) - - - - (258 078)Proceeds from disposals (1 376) (46 803) (51) (209 848) - - - - (258 078)Realised gains / (losses) 78 (17 712) - 17 100 - - - - (534)Realised gains / (losses) 78 (17 796) - 17,100 - - - - (618)Unrealised (losses) / gains (11 691) - (14 146) - - 5 037 - - (20 800)Unrealised gains / (losses) (11 691) - (14 676) - - 5 037 - - (21 330)Closing balance 900 833- 14 026 - 100 119 134 390 - - 1 149 368Closing balance 900 833- 14 026 - 100 119 134 390 - - 1 149 368Group 2015balanceAcquisitions913 822 64 199 25 272192 748 100 119 129 353--1 425 513Acquisitions913 822 64 599 28 753192 748 100 119 129 353--1 429 394Torre Industries Ltd1Goliath Gold Mining Ltd2Mine Restoration Investments Ltd Digicore Holdings Ltd3Tellumat (Pty) Ltd4Cadiz Holdings LtdIntegrated Equipment Rentals (Pty) Ltd Praxis Financial Services (Pty) Ltd- 316 2 951 - - - - - 3 267R’000 OpeningCompany 2015balanceTorre Industries Ltd1Goliath Gold Mining Ltd2Mine Restoration Investments Ltd Digicore Holdings Ltd3Tellumat (Pty) Ltd4Cadiz Holdings LtdIntegrated Equipment Rentals (Pty) Ltd Praxis Financial Services (Pty) Ltd- - - - - - - - -1 Prior to the acquisition of 34.62% of Torre Industries Ltd, 290 000 shares were purchased for R1.3 million and later disposed of for R1.4 million. The total acquisition cost per the above tables include both the R1.3 million purchase and the 34.62% acquisition for R912.6 million.2 On 18 November 2015 the Company disposed of its investment in Goliath Gold for R51.7 million, which is receivable on 6 June 2017. The present value of these proceeds (R46.8 million) has been recognised in Other nancial assets (refer to note 7).3 The acquisition cost of Digicore Holdings Ltd includes the issue of 36 758 132 ordinary Stellar Capital shares at R2.00 per share in terms of a purchase price adjustment agreed upon with the original vendors and as detailed in the Company Circular to shareholders dated 18 August 2015.4 The investment in Tellumat (Pty) Ltd was acquired as settlement of the consideration due in respect of the sale of Chrystalpine (Pty) Ltd Group (incorporating Andrews Kit (Pty) Ltd) and Structured Connectivity Solutions (Pty) Ltd, which were previously classi ed as a Disposal Group held for sale (refer to note 12).R’000 OpeningProceeds from Realised disposals gains (11 734) 860 - - - - (11 734) 860Unrealised gains / (losses) - (93) (353) (446)Closing balance - 316 2 951 3 267Group 2014Torre Industries LtdGoliath Gold Mining LtdMine Restoration Investments LtdCompany 2014balance- - - -Acquisitions10 874 409 3 304 14 587The Company did not hold any investments during the previous reporting period.64 | STELLAR CAPITAL PARTNERS