Page 77 - Bauxite Resources Annual Report 2014

Annual Report 2014 Bauxite Resources | 75
NOTES TO THE FINANCIAL STATEMENTS
Notes to the Financial Statements cont.
75 Bauxite Resources Annual Report 2014
Consolidated Group
2014 2013
$ $
(c) Trade and other receivables from related parties
Bauxite Alumina Joint Ventures Pty Ltd 33,047 32,323
Bauxite Resource Joint Venture 2,200 19,916
Alumina Refinery Joint Venture - -
35,247 52,239
(d) Trade and other payables to related parties
Bauxite Alumina Joint Ventures Pty Ltd 1,120 1,183
Bauxite Resource Joint Venture 4,500 -
Alumina Refinery Joint Venture - -
5,620 1,183
23. SUBSIDIARIES
Name Country of
Incorporation
Date of Incorporation Class of Shares Equity Holding1
2014 2013
% %
Darling Range Pty Ltd Australia 10 June 2008 Ordinary 100 100
Braeburn Resources Pty Ltd Australia 24 July 2007 Ordinary 100 100
Darling Range South Pty Ltd Australia 13 November 2008 Ordinary 100 100
Darling Range North Pty Ltd Australia 23 March 2009 Ordinary 100 100
BRL Operations Pty Ltd Australia 16 February 2009 Ordinary 100 100
BRL Landholdings Pty Ltd Australia 16 February 2009 Ordinary 100 100
BRL Other Minerals Pty Ltd Australia 25 March 2009 Ordinary 100 100
VA Holdings Pty Ltd Australia 13 February 2009 Ordinary 100 100
Bauxite Alumina Joint Ventures Pty Ltd Australia 12 January 2011 Ordinary 50 50
Note 1 - The proportion of ownership interest is equal to the proportion of voting power held.
24. EVENTS OCCURRING AFTER THE BALANCE SHEET DATE
Capital Return
The Company announced on 17 June 2014 that the BRL Board had recommended a capital return of 4 cents per share,
subject to shareholder approval. This followed a funding requirements review of its operations, projects and working capital to
determine where shareholders’ funds would be best allocated to create short and long term shareholder value, sufficient funds
were identified to support BRL’s wholly owned projects and JV arrangements in the near term.
As a consequence of this review, the BRL Board has identified surplus cash to the Company’s current requirements and
therefore is proposing to return 4 cents per share to shareholders in the form of a capital return. The Extraordinary General
Meeting was held on the 29 August 2014 and shareholders approved the Capital return. An amount of $9.276 million was
returned to shareholders on 11 September 2014.
On 10 September 2014, the Company executed a conditional agreement to settle the proposed legal action against the
Company. Refer to note 20 for further details of the contingency.
No other matters or circumstance have arisen since 30 June 2014 which significantly affected or could significantly affect the
operations of the consolidated group in future financial years.