a) SAA commenced operations in September 2021, after exiting the business rescue process. It has therefore incurred costs from the beginning of the financial year and only generated revenue from September 2021.
The operating costs are being funded from the working capital that was allocated as part of the R10.5 billion funding for SAA to implement the business rescue process.
b) The contribution by the Strategic Equity Partner (SEP), is to provide approximately R3 billion as operating capital as soon as the transaction is concluded. Further financing will be determined by the new board.