118 / 160
NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 30 June 2016
Hyprop Investments Limited
Group annual financial statements 2016
116
4.
Subsidiaries
Details of the group’s subsidiaries at the end of the year are as follows:
Proportion of ownership
interest and/or voting
power held by the group
Name of subsidiary
Principal activity
Place of
incorporation
and operation
June
2016
June
2015
Hyprop Investments (Mauritius)
Limited (Hyprop Mauritius)
Investing in indirect development or income producing
properties in sub-Saharan Africa (excluding SA)
Mauritius
100%
100%
African Land Investments Limited
(African Land)
Dormant
South Africa
100%
100%
Word for Word Marketing Proprietary
Limited (Word4Word)
Marketing services
South Africa
100%
100%
Hyprop Investments Employee
Incentive Scheme Proprietary Limited
(Hyprop Investments Employee
Incentive Scheme)
To hedge the obligation of the company to deliver
Hyprop shares to employees, arising from allocations
to employees in terms of the Hyprop Employee
Incentive Scheme
South Africa
100%
100%
Hyprop Foundation NPC
(Hyprop Foundation)
Company formed to further sustainability, enterprise
development, socio-economic development and the
corporate social initiatives of Hyprop
South Africa
100%
100%
Hyprop Ikeja Mall Limited
(Hyprop Ikeja)
(1)
Owns the shares in Gruppo Investments Nigeria Limited
Mauritius
100%
Gruppo Investments Nigeria
Limited (Gruppo)
(2)
Owns Ikeja City Mall in Lagos, Nigeria
Nigeria
75%
(1)
Wholly owned sub
sidiary of Hyprop Mauritius
(2)
Hyprop Ikeja owns 75% of the shares in Gruppo
4.1
Gruppo – Subsidiaries and transactions with non-controlling interests
Set out below is a summary of audited financial information for Gruppo, which owns 100% of the Ikeja City Mall in Lagos, Nigeria and in which
Hyprop has a 75% interest.
June 2016
R000
June 2015
R000
Summarised statement of financial position
Current assets
134 141
Current liabilities
(63 621)
70 520
Non-current assets
2 327 071
Non-current liabilities
(1 877 243)
449 828
Net assets
520 348
Non-controlling interest
130 260
Summarised statement of comprehensive income
Revenue
225 782
Net profit
64 559
Other comprehensive loss
(10 738)
Total comprehensive income
53 821
Profit allocated to non-controlling interest
13 628
Dividends paid to non-controlling interest
nil
Summarised cash flows
Cash flows from operating activities
19 174
Cash flows from investing activities
Cash flows from financing activities