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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   12.    NOTES TO THE CASH FLOW STATEMENTS              12.1    Cash utilised in operations                 Profit before taxation      1 344 216      237 320       Adjusted for:                      (1 350 707)    (268 563)     – Dividends received      (2 171 396)    (248 506)     – Interest received      (73 073)    (1 307)     – Profit on disposal of available-for-sale investments      (19 086)    (22 350)     – Discount on redemption of preference shares      (18 000)    –       – Impairment of loan made to wholly owned subsidiary      680 066      –       – Finance costs      250 782      3 600                        (6 491)    (31 243)  12.2    Investment income                 Credited to the income statements      2 171 396      248 506                12.3    Movements in working capital                 Decrease/(increase) in trade and other receivables      1      (134)     Decrease in amounts owing by group companies      254      34 765       Increase in trade and other payables      6 448      28 244            6 703      62 875    12.4    Taxation paid                 Unpaid at beginning of year      (3 117)    (6 741)     Charged to the income statements      (23 116)    (3 494)     Unpaid at end of year      4 952      3 117            (21 281)    (7 118)  12.5    Dividends paid                 Unpaid at beginning of year      (68)    (107)     Paid during the year      (555 717)    (126 000)     Unpaid at end of year      95      68            (555 690)    (126 039)