LENMED AIR 2019.pdf

Group Figures in R’000 2019 Restated 2018 20. Long term liabilities 20.1 Mortgage bonds 1 101 631 1 106 366 Loans Payable to vendors 2 416 3 352 These loans bear interest at 15.25% (2018: 15.25%) per annum and are secured over land and buildings, the cession of the Shifa hospital licence and general notarial bond over the movable assets of Lenmed Health Shifa (Pty) Ltd. Repayable in monthly instalments of R0.125 million (2018: R0.125 million) First National Bank Limited 58 719 38 780 These loans from First National Bank are secured by land and buildings with a carrying amount of R88.914 million (2018: R56.965 million) (refer to note 9). Interest has been charged at rates linked to prime. This loan is repayable in monthly instalments of R1.080 million (2018: R0.572 million). Rand Merchant Bank 1 040 496 1 064 234 These loans are secured by a first ranking mortgage bond over the Group's land and buildings with a carrying amount of R1.405 billion (2018: R1.365 billion) and a notarial bond of movable assets with a carrying value of R250.943 million (2018: R250.943 million). Interest has been charged at rates linked to JIBAR. The loan is split in 6 facilities. Facility A and E are 6 year term loans and with balance outstanding of R344.400 million (2018: R414.900 million), with interest repayable quarterly and capital repayable every 6 months. Facility B, C and F are 6 year term loans and with a balance outstanding of R620.000 million (2018: R590.000 million), with interest repayable quarterly, and no capital repayments until the end of the term when the full capital is required to be repaid. Facility D is USD denominated loan with interest payable quarterly and a capital moratorium up until November 2019. Thereafter the loan is repayable over the remaining 41 months with capital payments every 6 months. The USD balance outstanding as at 28 February 2019 is USD5.050 million (2018: USD5.050 million). 20.2 Instalment sales 66 369 61 075 Nedbank Limited 913 2 880 Repayable in monthly instalments of R0.731 million (2018: R0.233 million). Interest has been charged at rates of interest linked to the prime lending rate. Secured by plant and equipment with a book value of R3.506 million. WesBank, a division of FirstRand Bank Ltd 51 653 38 832 Repayable in monthly instalments of R2.989 million (2018: R1.814 million). Interest has been charged at rates of interest linked to the prime lending rate. Secured by plant and equipment with a book value of R76.918 million. Centrafin (Pty) Ltd 10 689 19 363 Repayable in monthly instalments of R0.895 million (2018: R0.613 million). Interest has been charged at rates of interest linked to the prime lending rate. Secured by plant and equipment with a book value of R21.279 million. Philips 3 114 - Repayable in monthly instalments of R0.656 million (2018: nil). Interest has been charged at rates of interest linked to the prime lending rate. Secured by plant and equipment with a book value of R5.964 million. 1 168 000 1 167 441 Repayable within one year, transferred to current liabilities (150 349) (112 511) 1 017 651 1 054 930 Notes to the consolidated annual financial statements continued CONSOLIDATED ANNUAL FINANCIAL STATEMENTS 112