6.2.2 Group interest in subsidiaries
GROUP
2020 2019
NUMBER OF
NUMBER OF
SHARES IN
INTEREST
SHARES IN
INTEREST
Notes
ISSUE
%
ISSUE
%
JD Implemente (Pty) Ltd 6.3.1 1 000 50 1 000 50
KLK Landbou Ltd 6 6.3.3 17 175 331 57,7 - -
Grainovation (Pty) Ltd 7 1 000 100 - -
Senwes Equip Holdings (Pty) Ltd 4 100 100 100 100
Senwes Agrowth (Pty) Ltd 1 1 000 73,5 1 000 73,5
Senwes Capital (Pty) Ltd 11 054 100 11 054 100
Senwes Graanmakelaars (Pty) Ltd 100 100 100 100
Senwes Mauritius Ltd 3 240 100 240 100
Senwes Share Incentive Scheme Trust 2 16.2 - 100 - 100
Tradevantage Grain (Pty) Ltd 5 - 100 - 100
1
Senwes Agrowth (Pty) Ltd is the holding company of Tradevantage Grain (Pty) Ltd (“Tradevantage”) and consists of equity
and an investment of R100 only. Thobo Trust holds a 26,5% interest in Tradevantage, a subsidiary of Senwes Agrowth
(Pty) Ltd. No non-controlling interest is accounted for as the trust is ring-fenced as a special purpose vehicle and therefore
consolidated. Profits are to be used for social development activities per the trust agreement.
2
Senwes Share Incentive Scheme Trust was established as a vehicle for the equity-settled share-based payment scheme.
During the year 2 336 868 shares (2019: 887 702 shares) vested under the LTI scheme and 376 371 shares (2019: 170 727
shares) were repurchased from the participants of the scheme.
3
Senwes is in the process of deregistering the business of Senwes Mauritius.
4
Senwes Equip Holdings’ share capital amounts to R100 only.
5
Senwes indirectly holds a 100% share in Tradevantage through Senwes Agrowth (which holds 100% in Tradevantage), of
which Senwes holds 73,5%, and Thobo Trust (which holds 26,5% in Senwes Agrowth), which is a special purpose vehicle
of Senwes and also fully consolidated.
6
During the period Senwes acquired a 57,44% interest in KLK Landbou Ltd (“KLK”), which operates as a group of companies
in the agricultural sector, with the effective date being 1 July 2019. Refer to note 6.2 for further details. Subsequent
to this (July 2019) Senwes acquired an additional 0,21% share interest, followed by a marginal repurchase of shares by
KLK.
7
During the period Senwes acquired an additional 50% share interest in Grainovation, which brings the investment to
100%, with the effective date being 1 November 2019. Refer to note 6.2 for further details.
Senwesbel Limited Reg no: 1996/017629/06 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 26