Page 83 - Stellar IAR2015

13. EQUITY ATTRIBUTABLE TO THE OWNERS OF THE PARENT(Continued)R’000Preference share capital Recognised as equity Recognised as a liabilityR’000Reconciliation of preference share liability Portion of capital raised recognised as a liability Transaction costs to the preference share liabilityShort term portion of preference share liability Long term portion of preference share liabilityR’000Reconciliation of cash received from issue of preference shares Issue of shares for cashAdjusted for:Capitalisation of transaction costs to the preference share liability Share issue costs recognised directly in equity14. CURRENT TAX PAYABLER’000Opening balanceTax expense (refer to note 24) Tax paid15. TRADE AND OTHER PAYABLESR’000Trade payablesOther payables^Value added taxOther accrued expensesGroup and Company 2014- - -Group and Company 2014- - -- - -Group and Company 2014201533 119 566 881600 0002015566 881 (18 403)548 47850 818 497 660548 4782015600 000(18 403) (1 075)580 522Group Company 2014-- - -2014490 - (69) 42120142 011 - - 120 2 1312015421 2 305 (2 522)490 - (69)2015421 2 305 (2 522)204GroupCompany201535 186 6 065 176 1 14742120143 297 - - 414204201535 173 6 065 177 1 09342 5743 71142 508STELLAR CAPITAL PARTNERS | 79^ During the year under review, the Company received proceeds in respect of the acceleration of a pro t / loss sharing-arrangement relating to MRI shares acquired from ASOF. The Company has undertaken to sell these shares within a period of 12 months and to pay ASOF 50% of the sale proceeds thereof. At year end the Company has recognised a liability of R6 million, being 50% of the value of the MRI shares acquired from ASOF, which have an estimated fair value of 5 cents per share at year end (refer to note 3).Trade and other payables are classi ed as nancial liabilities held at amortised cost, with the exception of value added tax. The carrying amount of trade and other payables approximates fair value because of the short period to maturity.