SENWES ANNUAL FINANCIAL STATEMENTS 2022
26.3 Significant shareholders
26.3.1 Parent company
Agribel Holdings Ltd ' s shareholding in Senwes decreased to 73,5 % ( 2021 : 74,4 %) during the 2022 financial year .
2022 R ' m
2021 R ' m
PARENT COMPANY 2022 2021 R ' m
R ' m
Interest paid
2022 R ' m
Loan payable
|
Management fees received |
|
|
|
|
|
Agribel Holdings Ltd |
1 |
1 |
- |
-
|
- |
18 |
Dividends paid to Agribel Holdings Ltd amounted to R124 million ( 2021 : R60 million ). For interest rates and loan repayment terms , refer to note 7 .
26.3.2 |
Shareholder with significant influence |
SHAREHOLDER WITH SIGNIFICANT INFLUENCE |
2022 R ' m |
2021 R ' m * |
2022 R ' m |
2021 R ' m |
Interest received |
Loan receivable /( payable ) |
Grindrod Trading Holdings ( Pty ) Ltd (" Grindrod ") |
- |
3 |
- |
- |
* Relates to the period while Grindrod was a shareholder with significant influence in Senwes . On 31 March 2021 Grindrod disposed of their entire shareholding |
in Senwes Ltd . |
26.4 Trade with directors Balances with directors
These comprise of production credit , mortgages and other accounts for which customers of the company qualify . Credit extension terms and interest rates in respect of loans are aligned with the company ’ s credit policy . These amounts are included in trade and other receivables according to normal credit terms and conditions .
2021 R ' m
GROUP 2022 R ' m
2021 R ' m
COMPANY 2022 R ' m Related parties – trade and other accounts receivable 87 99 - -
Transactions with directors
Due to the nature of the business , the directors form part of the normal client base of the group .
The transactions with directors comprise of revenue from the sale of mechanisation whole goods and spares , handling , storage , sales and purchases of grain , interest and financing transactions .
2021 R ' m
GROUP 2022 R ' m
2021 R ' m
COMPANY 2022 R ' m
Income |
150 |
315 |
4 |
186 |
Purchases |
323 |
211 |
323 |
211 |
26.5 Directors ’ remuneration ( executive and non-executive )
GROUP and COMPANY |
Note |
2022 R ' m |
2021 R ' m |
Salaries * |
|
11 |
10 |
Short-term incentive |
|
12 |
11 |
Long-term incentive |
16.2 |
7 |
5 |
Executive directors |
|
30 |
26 |
Non-executive directors |
|
8 |
8 |
Directors ’ remuneration : company |
|
38 |
34 |
Directors ’ remuneration : subsidiaries ** |
|
90 |
58 |
Directors ’ remuneration : group |
|
128 |
92 |
* Pension costs are included in salaries . These amounts will be less than R1 million when rounded and are therefore not disclosed in a separate line . |
** Relates to directors of subsidiary companies even if employed by the company . |
2021 R ' m
Reimagine Agriculture
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