| |
|
2009
R’million |
|
Restated
2008
R’million |
| 4. |
INVESTMENT IN ASSOCIATES |
|
|
|
|
Balance at the beginning of the year |
25,8 |
|
26,9 |
|
Share of after-tax net losses of associates |
(3,3) |
|
(1,1) |
|
Total investments in associates |
22,5 |
|
25,8 |
|
Key financial information of associates* |
|
|
|
|
Assets |
24,1 |
|
37,0 |
|
Liabilities |
7,4 |
|
13,1 |
|
Revenues |
32,1 |
|
23,0 |
|
Net after-tax losses |
(3,3) |
|
(1,1) |
|
*The financial information provided represents the Group’s share of results of the associates. |
|
|
|
|
| |
|
At 30 June 2009, details of the Group’s associates were as follows |
|
|
|
|
|
|
Carrying value |
|
Name |
Country of
incorporation |
Nature of business |
Percentage
interest |
|
2009
R’million |
|
2008
R’million |
|
|
Co-pharma Ltd |
United Kingdom |
Distributes commodity generics into the United Kingdom pharmaceutical market |
49 |
|
21,1 |
|
25,4 |
|
|
Formule Naturelle
(Pty) Ltd |
South Africa |
Procures and supplies complementary medicines, as well as traditional African medicines and oils to the South African market |
20 |
|
1,4 |
|
0,4 |
|
|
The associate companies had no significant contingencies or commitments at year-end. |
|
None of the Group’s investments in associates are publicly traded. |
|
There are no significant restrictions on the ability of the associates to transfer funds to Aspen in the form of cash dividends. |
|
Put and call options exist for both Co-pharma Ltd and Formule Naturelle (Pty) Ltd,click here for more details. |
|
|
