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BUSINESS MODEL
AND STRATEGIC
OBJECTIVES
LEADERSHIP
GOVERNANCE
OPERATING
PERFORMANCE
SHAREHOLDERS’
INFORMATION AND
ADMINISTRATION
FINANCIAL
PERFORMANCE
BLUE LABEL INTEGRATED ANNUAL REPORT 2014
221
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2014
Country
Number of
issued
ordinary
shares
Percentage
held
33.
INTEREST IN SUBSIDIARIES, ASSOCIATES AND
JOINT VENTURES (continued)
2013 (continued)
Associates
Indirectly held:
Associates of Gold Label Investments
Proprietary Limited
Smart Voucher Limited trading as Ukash
United
Kingdom 57 375 861
17.25*
Oxigen Services India Private Limited
India 14 244 294
37.22
Associates of Datacel Direct Proprietary Limited
Dual Data Proprietary Limited
RSA
100
50*
Joint ventures
Joint venture of Blue Label Telecoms Limited
Blue Label Mexico S.A. de C.V.
Mexico
4 500
45**
Joint venture of Datacel Direct Proprietary Limited
Datacision Proprietary Limited
RSA
100
50**
Joint venture of Gold Label Investments
Proprietary Limited
2DFine Holdings Mauritius
Mauritius
2
50**
Joint venture of 2DFine Investments Mauritius
Oxigen Services India Private Limited
India 14 244 294
37.22**
* Significant influence is demonstrated by the Company as a result of representation on the board of directors.
** Joint control is demonstrated by the composition of and decision-making powers afforded to the board of directors.