Petra Diamonds Limited
Annual Report and Accounts 2013
116
18. Trade and other receivables
US$ million
2013
2012
Current
Trade receivables
74.8
25.1
Other receivables
12.7
11.9
Prepayments1
6.2
19.5
93.7
56.5
Non-current
Other
0.2
0.2
BEE partners2
85.2
89.4
85.4
89.6
1. Included within prepayments is US$nil (30 June 2012: US$16.6 million) relating to a deposit paid for further investment in the Group’s South African projects (refer to note 3).
2. Interest on loans advanced to BEE partners (refer to notes 3 and 28) is charged at the prevailing South African prime interest rate plus 2%. The movement in the year includes accrued
interest and foreign exchange retranslation. The loans are repayable from future cashflows attributable to those loan holders generated from the underlying mining operations.
The financial assets classified as loans and receivables included in receivables are as follows:
US$ million
2013
2012
Current trade receivables
74.8
25.1
Other receivables (excluding VAT and prepayments)
0.1
4.5
Non-current receivables
85.4
89.6
160.3
119.2
The trade receivables are all due within normal trading terms and there are no trade receivables classified as past due.
Trade receivables are due within two days of awarding the rough diamond sales tender to the successful bidder and were
significant at year end due to the tender’s proximity to year end. The trade receivables relating to the year-end tender have
all been received post year end. No receivables are considered to be past due or impaired.
The carrying values of these loans and receivables are denominated in the following currencies:
US$ million
2013
2012
Pounds sterling
5.1
1.0
South African Rand
143.2
102.9
US Dollars
12.0
15.3
160.3
119.2
19. Cash
US$ million
2013
2012
Cash and cash equivalents – unrestricted
14.1
31.3
Cash – restricted
12.1
16.0
26.2
47.3
As security for the Group’s rehabilitation obligations at the Sedibeng JV and Star mines, the Company has ceded US$1.8 million
(30 June 2012: US$6.0 million) in a fixed deposit. The restricted cash will return to the Group’s sole control when the above
mentioned operations are transferred to the Group’s rehabilitation insurance product which currently includes the Finsch, Cullinan,
Koffiefontein, Kimberley Underground and Helam mines. The insurance product has secured cash assets of US$10.3 million
(30 June 2012: US$10.0 million) held in a cell captive. The Group has a commitment to pay insurance premiums over the next
year of US$3.2 million (30 June 2012: US$3.8 million) to fund the insurance product. The rehabilitation provisions are disclosed
in note 23.
20. Issued capital
US$ million
Number of shares
2013
Number of shares
2012
Authorised – ordinary shares of 10p each
As at 1 July 2012 and 30 June 2013
650,000,000
115.2
650,000,000
115.2
Issued and fully paid
At 1 July
505,654,430
85.7
499,874,009
84.8
Allotments during the year
3,946,618
0.6
5,780,421
0.9
At 30 June
509,601,048
86.3
505,654,430
85.7
Allotments during the year were in respect of the exercise of 2,100,000 warrants held over ordinary shares by the International
Finance Corporation and the exercise of 1,846,618 share options held by employees and Directors.
Notes to the Annual Financial Statements
For the year ended 30 June 2013 continued
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