NON-CURRENT ASSETS HELD FOR SALE

Investment property

Non-current assets held for sale consisted of the Kopanong Hotel and Conference Centre property which consists of a country estate with 57 chalets and conference facilities. Due to management’s change in intention to dispose of the property as a whole rather than through the sale of individual units, there was uncertainty around whether a suitable buyer may be found, and the property disposed of, within the next 12 months. Due to the uncertainty over the time period of finding a suitable buyer for the property the recognition criteria of non-current assets held for sale was not met and the property was reclassified to investment property in the 2019 financial year. The property is still held as investment property by the group as at 31 March 2020.