Page 232 - Capricorn IAR 2020

GLOSSARY OF TERMS ANNUAL FINANCIAL GLOSSARY OF TERMS STATEMENTS
NOTES TO THE CONSOLIDATED AND SEPARATE ANNUAL FINANCIAL STATEMENTS (continued)
for the year ended 30 June 2020
20. INVESTMENT IN ASSOCIATES (continued)
20.3 Paratus Namibia Holdings Ltd (continued)
Technique used for directors’ valuation:
Paratus Namibia Holdings Ltd is listed on the Namibia Stock Exchange (“NSX”) and therefore has a quoted market price available for its shares.
Group
Company
2019 N$’000
2020 N$’000
2020 N$’000
169,548
6,998 9,220 9,220
23,742
23,742
553,496
199,516 106,627 –
(212)
182,443
(157,015)
(57,376)
521,548
305,931
92,314
91,797
92,314
91,797
2019 N$’000
Summarised financial information (unaudited)
Revenue
Profit after tax
Total comprehensive income
Non-current assets Current assets Non-current liabilities Current liabilities
Net asset value
Interest in associate (17.7%) (2019: 30%)
Carrying value of investment in associate 20.4 Paratus Group Holdings Ltd
On 1 July 2019, the company concluded on a 30% acquisition in Paratus Group Holdings Ltd (“Paratus”). Paratus and its subsidiaries and associates provide services in 24 African countries, the most significant of which are Angola, Zambia and Botswana.
Group
Company
2020 N$’000
2020 N$’000
232,263
734
– –
232,263
1,395
– –
(661)
232,997
–
232,263
244,569
–
244,569
2019 N$’000
2019 N$’000
–
– –
Carrying value of investment in associate
Investment at cost
Share of current year’s retained income
– Profit before tax
– Current and deferred tax
Valuation
230