156 FINANCIAL STATEMENTS 12. Loan to group entity Loan to group entity comprises the following balances: 2025 2024 2025 2024 R R R R Loans to Nampo (Pty) Ltd - - 50 000 000 66 415 093 Non-current assets - - 49 303 691 - Current assets - - 696 309 66 415 093 - - 50 000 000 66 415 093 2025 2024 2025 2024 R R R R Cash Cash on hand 4 156 9 005 - - Balances with banks 39 222 591 27 191 406 7 331 024 3 973 488 39 226 747 27 200 411 7 331 024 3 973 488 Cash equivalents Short term investments 27 233 518 31 023 909 6 892 908 3 143 763 66 460 265 58 224 320 14 223 932 7 117 251 Net cash and cash equivalents: Current assets 66 460 265 58 224 320 14 223 932 7 117 251 ORGANISATION ORGANISATION GROUP GROUP LOAN AND SUBORDINATION AGREEMENT In 2024 Grain South Africa issued an unsecured loan (see above 2024 balance), of which R 50 000 000 bears interest at 9,25%. The accrued interest is included in the loan balance. This loan was subordinated under a subordination agreement between Grain South Africa and the company, which remained effective for the shorter of 12 months or until the company’s assets, measured at fair value, exceeded its liabilities. Additionally, Grain South Africa provided a letter of continued financial support. The loan was intended to be settled during the 2025 financial year upon completion of the ‘sale of business’ transaction. (See Note 24 - Disposal of business activities). During the reporting period, the company’s assets at fair value exceeded its liabilities; therefore, the subordination agreement and the letter of support are no longer required. LOAN PAYABLE TO SELLER As part of the purchase consideration for the disposal of the Business (refer Note 24 – Disposal of business activities), a loan payable to Grain South Africa of R 50 000 000 was recognised on 1 September 2025, the completion date of the transaction. This loan is unsecured and bears interest at a variable rate equal to the South African Repo Rate plus 1%. The principal and accrued interest are repayable over 25 years in quarterly instalments, commencing November 2025. Immediate repayment is required upon certain default events, including unsatisfied judgments, attachment of assets, insolvency, liquidation, or arrangements with creditors. The business is currently not aware that any of the preceding default events have been triggered. 13. Cash and cash equivalents Cash and cash equivalents included in current assets:
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