LENMED AIR 2019.pdf

Group Figures in R’000 2019 Restated 2018 21. Loans fromminorities Board of Public Officers Medical Aid Scheme (BPOMAS) 13 079 18 934 This loan is unsecured, bears interest at rates linked to prime in Botswana and is repayable within 7 years from inception, subject to the availability of funds at Lenmed Health Bokamoso Private Hospital (Pty) Ltd. The Pula balance payable at year end is P9.599 million (2018: P15.599 million). ATMG 15 568 14 079 The loan is unsecured, has no fixed terms of repayment and bears interest at prime rate. Lenmed Ethekwini Hospital and Heart Centre (Pty) Ltd non-controlling shareholders 13 849 30 819 These loans are unsecured, have no fixed terms of repayment and bear no interest. 42 496 63 832 22. Trade and other payables Trade payables 252 487 204 696 Other payables 80 999 103 488 Value Added Tax 22 468 12 737 Cash-settled share based payments 3 733 - 359 687 320 921 Cash-settled share based payments This is made up of three allocations of share appreciation rights (SARs): 1) Nil (2018: 1,683 million) SARs 7.300 million SARs were issued on 15 of October 2013 to two executive directors and nine members of senior management, at a price of R1.31 each. During the current year R2.154 million was paid out in cash as part of the 3rd and final tranche of the allocation. 2) Nil (2018: 7.600 million) SARs 9.600 million SARs were issued on 1st of August 2015 to three executive directors and twelve members of senior management, at a price of R2.78 each. During the current year 6.850 million SARs were settled in full at a cost of R5.343 million. 3) 7.250 million (2018: 8.250 million) SARs 9.000 million SARs were issued on 1st of August 2016 to three executive directors and fifteen members of senior management, at a price of R3.00 each. As at 28 February 2019, 7.250 million (2018: 8.250 million) SARs were in issue. The reduction from the prior year is due to senior management attrition during the year. 4) 8.100 million SARs (2018: 8.600 million) SARs 8.600 million SARs were issued on 1st of August 2017 to three executive directors and sixteen members of senior management, at a price of R3.39 each. As at 28 February 2019, 8.100 million (2018: 8,600 million) SARs were in issue. The reduction from the prior is due to the senior management attrition during the year. 5) 9.600 million SARs 9.600 million SARs were issued on 1st of August 2018 to three executive directors and fifteen members of senior management, at a price of R3.56 each. The Group has determined that the allocation should be accounted for as an cash-settled share-based payment transaction. The fair value of the SARs was calculated using the Black Scholes option pricing model. The amount recognised in the annual financial statements for the current year, in accordance with IFRS 2: Share-based payments, is an expense reversal of R1.680 million (2018: R1.320 million - expense reversal). LENMED ANNUAL INTEGRATED REPORT 2019 113