Notes to the financial statements | Note 40

40. GROUP ENTITIES
 
Book value of interest
  % holding Shares Amounts due from
Issued
ordinary
share capital
R		 2025 2024 2025
Rm		 2024
Rm		 2025
Rm		 2024
Rm
HELD BY ITALTILE LIMITED
Retail
Italtile Ceramics (Pty) Ltd 36 383 670 100 100 1 1 3 430 3 394
Issued share capital   Effective shareholding  
2025 
R 		 2024 
R 		 2025 
% 		 2024 
% 
HELD BY SUBSIDIARIES 
Franchising 
ItaItiIe Franchising (Pty) Ltd##  –  1 000  –  100 
Property lnvestment 
Allmuss Properties (Pty) Ltd  1 500  1 500  100  100 
Allmuss Properties Botswana (Pty) Ltd1  4 651  4 651  100  100 
Allmuss Properties Namibia (Pty) Ltd2  1 100  1 100  100  100 
Allmuss Lesotho (Pty) Ltd3  1 000  1 000  100  100 
Allmuss Properties Kenya Limited4  164 051 195  164 051 195  100  100 
Emerald Sky Trading 736 (Pty) Ltd  100  100  100  100 
F. B. Ashman (Pty) Ltd  100  100  100  100 
Penates Logistics (Pty) Ltd#  100  100  90# 90#
Magnolia Ridge Properties 291 (Pty) Ltd  15 000 000  15 000 000  50* 50*
Allmuss Properties Tanzania Limited6  46 895 113  46 895 113  100  100 
Allmuss Properties Zambia Limited7  195 755  195 755  100  100 
Allmuss Properties Rwanda (Pty) Ltd8  20 341 394  20 341 394  100  100 
Magaeng Properties (Pty) Ltd  100  100  49* 49*
Support Services 
International Tap Distributors (Pty) Ltd  210  210  90  88 
Cedar Point Trading 326 (Pty) Ltd  1 000  1 000  100  100 
ItaItiIe Foreign Holdings (Pty) Ltd  1 410  1 410  100  100 
Retail 
CTM Kenya Limited4  25 737 379  25 737 379  100  100 
ItaItiIe Retail (Pty) Ltd  1 000  1 000  55  55 
Orban Investments 375 (Pty) Ltd2  175  175  100  100 
TopT Ceramics (Pty) Ltd#  1 000  1 000  95# 95#
Braintree (Pty) Ltd1  1 302  1 302  100  100 
Braintree Tanzania Limited6  32 404 620  32 404 620  100  100 
U-Light (Pty) Ltd###  –  1 000  –  100 
ItaItiIe Retail Botswana (Pty) Ltd  1 000  1 000  55  55 
CTM Lesotho (Pty) Ltd3  100  100  100  100 
Italtile Zambia Limited7  29 418  29 418  100  100 
Manufacturing 
Ceramic Industries (Pty) Ltd  61 235 860  61 235 860  99  99 
Ceramic Holdings (Pty) Ltd5  130 233 618  130 233 618  98  98 
National Ceramic Industries Australia (Pty) Ltd5  72 658 011  72 658 011  95  95 
Namoi Valley Quarry (Pty) Ltd5  1  1  95  95 
Sphinx Acrylic Bathroomware (Pty) Ltd  102  102  99  99 
National Ceramic Industries South Africa (Pty) Ltd  2 000  2 000  99  99 
National Ceramic Industries (Pty) Ltd  –  –  0  0 
CRM Brick and Associated Industries (Pty) Ltd  –  2 000  –  99 
Aquarella Investments 389 (Pty) Ltd  100  100  73  73 
Ezee Tile Adhesive Manufacturers (Pty) Ltd  556  556  99  99 
Ezee Tile Adhesive Manufacturers (Free State) (Pty) Ltd  –  –  0  0 
Ezee Tile Kenya Limited  1 201 199  1 201 199  69  69 
Ezee Tile Adhesives Zambia Limited7  7 108  7 108  49* 49*
Silica Quartz (Pty) Ltd  56  56  55  55 
PiViCal Panels (Pty) Ltd*  3 261 573  3 261 573  43  43 
Special purpose entities 
The Italtile and Ceramic Foundation Trust 
The Italtile Share Incentive Trust 
The Italtile Empowerment Trust 
The Italtile Retention Scheme Trust 
The Italtile Staff Share Scheme Trust 
Aquarella Empowerment Trust 
1 Incorporated in Botswana. 2 Incorporated in Namibia. 3 Incorporated in Lesotho. 4 Incorporated in Kenya.
5 Incorporated in Australia. 6 Incorporated in Tanzania. 7 Incorporated in Zambia. 8 Incorporated in Rwanda.
* The Company is consolidated as the Group exercises control over it.
# The control of shares held by the minority partner is restricted by the loan provided for the purchase. The structure of the deal constitutes a share incentive transaction in terms of IFRS 2.
## In an effort to simplify the Group structure, the net assets of Italtile Franchising was declared as a dividend to Italtile Ceramics (Pty) Ltd. The entity is in the process of deregistration.
### The U-Light business has been closed and the Company is in the process of deregistration.