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Notes to the company financial statements for the year ended 30 June 2009

Notes 1. INVESTMENT IN GROUP COMPANIES 2. AVAILABLE-FOR-SALE INVESTMENTS 3. SHARE CAPITAL /option> 4. SHARE PREMIUM 5. OTHER RESERVES 6. DEFERRED TAXATION 7. SHORT-TERM BORROWINGS 8. REVENUE 9. PROFIT BEFORE TAXATION 10. TAXATION 11. DIVIDENDS 12. NOTES TO THE CASH FLOW STATEMENTS 13. INTEREST OF COMPANY IN ITS SUBSIDIARY COMPANIES 14. FINANCIAL RISK MANAGEMENT 15. CAPITAL MANAGEMENT 16. CONTINGENT LIABILITIES

2009     2008           R’000     R’000   1.   INVESTMENT IN GROUP COMPANIES             Joint-venture entity (refer to note below)    468 153      468 153      Subsidiary companies (refer to note below)    27 440      27 440           495 593      495 593      Investment in joint-venture entity                Assmang Limited                1 774 103 (2008: 1 774 103) ordinary shares at cost      468 153      468 153      Directors’ valuation      13 238 529      22 400 000      Investment in subsidiary companies (refer to note 13)              Shares at cost      27 440      27 440      Amounts due by/(to) subsidiary companies                Loan accounts receivable      1 349 368      145 073      Current accounts receivable      –      65      Loan accounts payable      (558 041)    (262 080)    Current accounts payable      (189)    –      Refer to note 13      791 138      (116 942)