Integrated Report 2020

INTEGRATED REPORT 2020 CIM FINANCIAL SERVICES LTD Analysis of assets and liabilities Sep-20 MUR m Assets Cash and cash equivalents 120.5 Net assets 120.5 Gain on derecognition of subsidiaries Consideration received 118.4 Net assets disposed of (120.5) Cumulative exchange differences in respect of the net assets of the subsidiaries derecognised 15.6 13.5 Net cash inflow on derecognition of subsidiaries Sep-20 MUR m Consideration received in cash and cash equivalents 118.4 Less cash and cash equivalents derecognised (120.5) Net cash outflow (2.1) Explanatory Notes 30 SEPTEMBER 2020 33. DERECOGNITION OF SUBSIDIARIES 34. COMMITMENTS During the year, the Group derecognised Cim Ethiopia Ltd and Evripay Ltd being in winding up process. The results of the derecognition in the Group’s financial statements are as follows: GROUP Sep-20 MUR m Sep-19 MUR m Operating lease – where the Group is the lessor The future minimum undiscounted lease payments under operating leases are as follows: Within one year 140.3 149.9 After one year and before five years 278.4 326.8 Later than 5 years 3.1 32.0 421.8 508.7 The Group has entered into operating leases for motor vehicles that include revenue-related rental payments that are contingent on future levels of revenue. These leases have terms ranging from 1 to 7 years. 144