Integrated Reports Senwesbel Consolidated Financial Statements 2018 - Page 53

FAIR VALUE AS AT 30 APRIL 2017 CARRYING QUOTED PRICES IN AMOUNT AS ACTIVE MARKETS AT 30 APRIL FOR IDENTICAL 2017 INSTRUMENTS Recurring measurements OTHER SIGNIFICANT OBSERVABLE INPUTS SIGNIFICANT UNOBSERVABLE INPUTS NOTES TOTAL R’m LEVEL 1 R’m LEVEL 2 R’m LEVEL 3 R’m 7 146 146 - - Assets Grain commodities Inventory held to satisfy firm sales 9 75 75 - - Investment in Suidwes Holdings 4.1.1 4 - - 4 Investment in Nautilus Hedge Fund 5.2.1 25 - 25 - Forward purchase contracts 17.1 128 128 - - 3.1 996 996 1 374 1 345 25 4 - - Investment in Senwes (company) Total assets Liabilities Commo dity finance 4.2.2 2 2 Forward purchase contracts 17.2 165 165 - - Safex futures 17.2 4 4 - - 171 171 - - Total liabilities Accounts receivable, loans receivable and loans payable at amortised cost approximate the fair value. Techniques used to determine fair value measurements categorised in level 1: All items categorised in level 1 are revalued by applying the market value as determined by Safex (South African Future Exchange). Techniques used to determine fair value measurements categorised in level 2: Nautilus Hedge Fund’s inputs can directly be observed through the cash balances and financial position of the fund. Techniques used to determine fair value measurements categorised in level 3: Suidwes Holdings investment The shares of Suidwes Holdings are still traded on the OTC market, but not actively. The price at which the remaining shares will be sold in the future will more than likely be at 66% of the NAV and will be the fair value of the shares. Senwesbel Limited Reg no: 1996/017629/06 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2018 52