Interfront Annual Report 2022

PART E: FINANCIAL INFORMATION 105 International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2022 22. Related Parties Relationships Controlling entity South African Revenue Service Tshole Business Solutions (Pty) Ltd (24.5% effective interest) Tatis International (Pty) Ltd (in liquidation) (17.88% effective interest) M. A. Enus-Brey: Chairman of the Board L.L. Janse Van Rensburg: Financial Director (and Acting Managing Director) J.M. Robertson: Operations Director *Y. van der Merwe: Non-Executive Director *B. Theron: Non-Executive Director *H. Smith: Non-Executive Director *V.C. Nthabyane: Non-Executive Director S.W. van Graan: Non-Executive Director (appointed 23 September 2021) M. Peperrell N. Mohoto S. Mtsweni Companies in which members of management have significant influence Members of the Board of Directors Members of key management *These Non-Executive directors are employed by the shareholder Related party balances Payables from exchange transactions South African Revenue Services 42 579 208 534 Revenue Billed in advance (SARS) 7 381 401 4 337 752 The trade payable represents amounts owing to SARS for internal audit services performed at arms length. Rendering of services to related parties South African Revenue Services 93 122 391 89 440 754 Related party transactions Interfront entered into an agreement for the transfer of employees. The controlling entity is also a party to the agreement. Refer to Note 26 for more detail. Figures in Rand 2022 2021