Integrated Reports Senwesbel Consolidated Financial Statements 2018 - Page 57

23.3 TRADE WITH DIRECTORS Balances with directors These comprise of production credit and other accounts for which customers of the company qualify. Credit extension terms and interest rates in respect of loans are aligned with the company’s credit policy. These amounts are included in trade and other receivables according to normal credit terms and conditions. GROUP Related parties – trade and other accounts receivable 2018 R’m 2017 R’m 77 69 Transactions with directors Due to the nature of the business the directors form part of the normal customer/client base of the groep. The transactions with directors comprise of revenue from the sale of mechanisation wholegoods and spares, handling, storage, sales and purchases of grain, interest and financing transactions. GROUP 2018 R’m 2017 R’m Revenue 207 369 Purchases (77) (47) Net transactions with directors 130 322 23.4 DIRECTORS’ REMUNERATION (EXECUTIVE AND NON-EXECUTIVE) GROUP COMPANY 2018 R’m 2017 R’m 2018 R’m 2017 R’m Salaries* 9 14 1 1 Short-term incentive 6 - - - Long-term incentive 5 3 - - Equity-settled share-based payment 5 3 - - 20 20 1 1 6 5 - - 26 25 1 1 4 4 - - 30 29 1 1 Executive directors Non-executive directors Directors’ remuneration: Senwes company Directors’ remuneration: Subsidiaries Directors’ remuneration: Group * Pension costs are included in salaries. These amounts will be less than R1 million when rounded and are therefore not disclosed in a separate line. 23.5 INFORMATION ON DIRECTORS’ SHAREHOLDING Directors’ direct and indirect interests in the company: COMPANY 2018 2017 NUMBER OF SHARES % OF TOTAL SHARES NUMBER OF SHARES % OF TOTAL SHARES 9 920 117 8,7 9 729 001 8,4 Non-­executive directors 13 177 015 11,6 18 145 033 15,6 Total direct and indirect interest 23 097 132 20,3 27 874 034 23,9 Direct Non-­executive directors Indirect Senwesbel Limited Reg no: 1996/017629/06 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2018 56