Summarised notes to the consolidated financial statements l Note 13

13. Events after the reporting period
 

On 23 October 2015 the company bought 14 485 013 Barloworld shares from the strategic black partners and community service groups at par and cancelled the shares in terms of the 2008 B-BBEE transaction. On 5 November 2015 the strategic black partners and community service groups subscribed for 1 590 622 Barloworld shares at R179.69 per share. In addition the participants subscribed for an additional 450 000 Barloworld shares at par.

Subsequent to year-end, Automotive Northern Cape acquired the net assets of the Toyota and Volkswagen dealerships in Postmasburg for R28 million, effective 31 October 2015.


Summarised notes to the consolidated financial statements l Note 13