Understanding Phuthuma Nathi ˆummarˬ annual financial statements continued Notes to the summary annual financial statements as at 31 March 2023 3. Related parties Subsidiary – Phuthuma Nathi Investments 2 (RF) Limited* Associate – MultiChoice SA Holdings Proprietary Limited Subsidiary of associate – MultiChoice SA Proprietary Limited Group and Company 2023 ZAR’000 2022 ZAR’000 Transactions with related parties MultiChoice SA Holdings Proprietary Limited 1 500 000 1 500 000 Amounts due to related parties MultiChoice SA Proprietary Limited 10 080 6 959 The above current balance, with MultiChoice SA Proprietary Limited, is unsecured interest free and has no xed terms of repayment. As per the memorandum of incorporation (MOI), Phuthuma Nathi Investments (RF) Limited shall not earn any revenue and/or incur any expenses related to the trading of Phuthuma Nathi Investments (RF) Limited shares. MultiChoice SA Proprietary Limited shall incur all expenses related to the trading of Phuthuma Nathi Investments (RF) Limited shares. MultiChoice SA Proprietary Limited has earned and incurred the following income and expenses related to the trading of Phuthuma Nathi shares for the year ended 31 March 2023 in terms of the MOI requirements: Group Company 2023 ZAR’000 2022 ZAR’000 2023 ZAR’000 2022 ZAR’000 Income 2 471 1 492 2 471 1 492 Expenses (9) (14) (9) (14) Other amounts 660 576 660 576 3 122 2 054 3 122 2 054 Related party income relates to interest earned on unclaimed dividends and expenses relate to bank charges on bank accounts and audit fees paid by MCSA on behalf of the group. Other amounts relates to repayments of the outstanding balances during the year. * This disclosure was applicable in the prior year as well. Phuthuma Nathi Investments (RF) Limited Integrated annual report 2023 28
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