NOTES TO THE COMPANY FINANCIAL STATEMENTS

Note 1 - Accounting policies Note 2 - Administration expenses Note 3 - Tax Note 4 - Dividends Note 5 - Investments in subsidiaries and trust Note 6 - Share capital Note 7 - Borrowings Note 8 - Related party transactions Note 9 - Financial instruments

Notes to the Company financial statements
for the period ended

1.   ACCOUNTING POLICIES  
   Except as presented below, the accounting policies and notes to the financial statements are identical to those disclosed in the consolidated financial statements here.  
1.1   Investments in subsidiaries  
   The Company carries its investments in subsidiaries at cost less impairment losses.  
1.2   Foreign currency transactions and translations  
   The financial statements are presented in South African rand, which is the Company’s functional currency. All transactions are in South African rand.  
1.3   Basis of consolidation  
   The Company financial statements are presented as separate financial statements.  
1.4   Property, plant and equipment  
   No property, plant and equipment are held by the Company.  
1.5   Intangible assets  
   No intangible assets are held by the Company.  
1.6   Leases  
   No lease arrangements are held by the Company.  
1.7   Inventory  
   No inventory is held by the Company.  
1.8   Treasury shares  
   No treasury shares are held by the Company.  
1.9   Employee benefits  
   No employee benefits are recognised by the Company.  
1.10   Operating segments  
   No segmental financial information is required for the separate financial statements of the Company.