Exxaro report selector 2019

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Exxaro Resources Limited
Group and company annual financial statements for the year ended 31 December 2019

Currently viewing: CHAPTER 15 / 15.1 Related-party transactions

15.1 Related-party transactions

15.1

RELATED PARTY TRANSACTIONS

 

Transactions with related parties are on terms that are neither more nor less favourable than those arranged with independent third parties.

SHAREHOLDERS

The principal shareholders of the company at 31 December 2019 are detailed in chapter 19, annexure 1.

DIRECTORS

Details relating to directors’ emoluments and shareholdings (including options) in the company are disclosed in note 14.5.

SENIOR EMPLOYEES

Details relating to option and share transactions are disclosed in note 14.3.

KEY MANAGEMENT PERSONNEL

For Exxaro, other than the executive and non-executive directors and executive committee members, no other key management personnel were identified. Refer note 14.5 for details on directors and prescribed officers’ remuneration.

SUBSIDIARIES

Details of transactions with and investments in subsidiaries are disclosed in chapter 17.

STRUCTURED ENTITIES

The group has an interest in the following structured entities which are consolidated unless otherwise indicated:

Entity Nature of business
Exxaro Chairman’s Fund Local social economic development1
Exxaro Foundation Local social economic development1
Exxaro Employee Empowerment Participation Scheme Trust Employee share incentive trust
Exxaro Employee Empowerment Trust Employee share incentive trust
Exxaro Environmental Rehabilitation Fund Trust fund for mine closure
Exxaro Mountain Bike Academy NPC Local social economic development1
Exxaro People Development Initiative NPC Local social economic development — bridging classes1
Kumba Resources Management Share Trust Management share incentive trust
Eyesizwe (RF) Proprietary Limited Structured entity to hold the BEE shares
Matla and Arnot Rehabilitation Trust Trust fund for mine closure

1 Non-profi t organisations.

ASSOCIATES AND JOINT VENTURES

Details of investments in associates and joint ventures and income received therefrom are disclosed in chapter 9. Details of trading transactions and balances are summarised below.

  Group  
  Associates     Joint ventures  
  2019 
Rm 
  2018 
Rm 
    2019 
Rm 
  2018 
Rm 
 
Items of income/(expense) incurred during the year                  
Group sales of goods and services rendered   101             
Group purchases of goods and services rendered (318)   (163)     (1 103)   (742)  
Outstanding balances at 31 December                  
Included in trade and other receivables   112           
Included in trade and other payables (12)   (27)     (124)   (53)