NOTES to the Annual Financial Statements – for the year ended 30 June 2006
37. Related party transactions 37.1 Transactions with shareholders The Group did not enter into any transactions with direct beneficial shareholders during the current year, except as described in the directors' report and note 27. 37.2 Intra-Group transactions and balances During the year, certain companies in the Group entered into arm's length transactions with other companies in the Group. These intra-Group transactions have been eliminated on consolidation. Refer to note 38 for a detailed list of subsidiaries and balances. None of the balances are secured. The following intra-Group transactions took place between Aspen Pharmacare Holdings Ltd and Group companies during the current year: 2006 2005 R'000 R'000 Royalties received in advance 152 184 129 315 – Pharmacare Ltd 151 294 127 965 – Aspen Nutritionals 890 890 – Garec (Pty) Ltd — 460 Administration fee received 19 352 17 952 – Pharmacare Ltd 18 852 17 952 – FCC 500 — Interest received / (paid) 501 (453) – FCC 501 — – Pharmacare Ltd — (453) Capital distribution/dividend paid (treasury shares) – Pharmacare Ltd (18 686) (11 223) Dividends received — 348 064 – Pharmacare Ltd — 232 064 – Aspen Pharmacare East London (Pty) Ltd — 116 000 Interest free loans received from Pharmacare Ltd during the year 318 749 — Expenses paid by Pharmacare Ltd on behalf of Aspen Pharmacare Holdings Ltd 92 595 77 351
Aspen Annual Report 2006
Aspen Holdings
aspenaustralia