T2IB03355 Clover_S1.indd

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JSE. The Listings Requirements of the JSE limit repurchases during any one year to a maximum of 20% of the issued ordinary shares at the time. No shares were issued or repurchased during the year ended 30 June 2012. The debt portion of preference shares is quantified and separately disclosed as part of interest-bearing liabilities. The guaranteed preference dividends paid during the year are accounted for as interest paid in the statement of comprehensive income. Dividends Dividends declared and paid by CIL during the year: 2012 2011 R’000 R’000 Ordinary dividends Declared 53 734 58 720 Paid 53 734 58 720 Preference dividends Recognised as interest: Declared 22 007 21 359 Paid 16 117 26 529 The Board declared and paid an interim cash dividend of 15c per ordinary share during April 2012. It further declared a final dividend of R24,0 million or 13,4 cents per ordinary share. The interim dividend together with the proposed final dividend will constitute 25% of Comprehensive Income Attributable to Shareholders of CIL, excluding after tax capital profits. Declaration of dividend number 5 Notice is hereby given that the directors have declared a final gross cash dividend of 13,4 cents (11,39 cents net of dividend withholding tax) per ordinary share for the year ended 30 June 2012. The dividend has been declared from income reserves and no secondary tax on companies credits has been used. A dividend withholding tax of 15% will be applicable to all shareholders who are not exempt. The Company income tax number is 9657/002/71/4 The issued share capital at the declaration date is 179 111 867 ordinary shares. The salient dates will be as follows: Last day to trade to receive a dividend Friday, 28 September 2012 Shares commence trading “ex” dividend Monday, 1 October 2012 Record date Friday, 5 October 2012 Payment date Monday, 8 October 2012 Share certificates may not be dematerialised or rematerialised between Monday, 1 October 2012 and Friday, 5 October 2012, both days inclusive. die JSE beperk terugkope gedurende enige enkele jaar tot ‘n maksimum van 20% van die uitgereikte gewone aandele op daardie tyd. Geen aandele is gedurende die jaar geëindig 30 Junie 2012 uitgereik of teruggekoop nie. Die skuldkomponent van die voorkeuraandele is gekwantifiseer en word afsonderlik geopenbaar as deel van rentedraende laste. Die gewaarborgde voorkeurdividende gedurende die jaar betaal, word as rente betaal in die staat van omvattende inkomste verantwoord. Dividende Dividende deur CIL verklaar en betaal gedurende die jaar: 2012 2011 R’000 R’000 Gewone dividende Verklaar 53 734 58 720 Betaal 53 734 58 720 Voorkeurdividende As rente erken: Verklaar 22 007 21 359 Betaal 16 117 26 529 Die Direksie het gedurende April 2012 ‘n tussentydse kontantdividend van 15c per gewone aandeel verklaar en betaal. Hy het voorts ‘n finale dividend van R24,0 miljoen of 13,4 sent per gewone aandeel verklaar. Die tussentydse dividend saam met die voorgestelde finale dividend sal 25% van Omvattende Inkomste Toeskryfbaar aan Aandeelhouers van CIL uitmaak, met uitsluiting van kapitaalwins na belasting. Verklaring van dividend nommer 5 Kennis geskied hiermee dat die Direkteure ‘n finale bruto kontantdividend verklaar het van 13,4 sent (11,39 sent na aftrekking van terughoubelasting op dividende) per gewone andeel vir die jaar geëindig 30 Junie 2012. Die dividend is verklaar uit inkomstereserwes en geen krediete vir sekondêre belasting op maatskappye is gebruik nie. ‘n Terughoubelasting op dividende van 15% sal van toepassing wees op alle aandeelhouers wat nie vrygestel is nie. Die Maatskappy se inkomstebelastingnommer is 9657/002/71/4. Die uitgereikte aandelekapitaal op die datum van verklaring is 179 111 867 gewone aandele. Die belangrike datums sal soos volg wees: Laaste dag van verhandeling om ‘n dividend te ontvang Vrydag, 28 September 2012 Aandele begin verhandel “ex” dividend Maandag, 1 Oktober 2012 Rekorddatum Vrydag, 5 Oktober 2012 Betaaldatum Maandag, 8 Oktober 2012 Aandelesertifikate mag nie gedematerialiseer of gematerialiseer word tussen Maandag, 1 Oktober 2012 tot en met Vrydag, 5 Oktober 2012 nie, beide dae inbegrepe. Clover Geïntegreerde Jaarverslag 2012 – 97 Directors’ report/Direkteursverslag
Directors’ report/Direkteursverslag Directors and Secretary Particulars of the present Directors and Secretary are listed on pages 13 to 15. Share-based compensation During the current year a further 2,1 million SAR were issued to executives at an issue price of R11. These SAR will vest three years after the issue date and are subject to vesting conditions. SAR not excercised will be cancelled seven years after the issue date. On 1 June 2012, Mr E Bosch was appointed to the Executive Committee and 953 620 SAR was issued to him on the same day at an issue price of R13,50. One third of these SAR will vest three years after the issue date and thereafter another third after four years and the last third after five years. There are no vesting conditions attached to theses SAR. SAR not excercised will be cancelled seven years after the issue date. On excercise Executives will be entitled to a payment equal to the increase in the CIL ordinary share price over the issue price of the SAR. Such payment can at the election of the Company be either in cash or by way of the issue to the member of a number of ordinary shares equal in value to such cash amount. Details of SAR issued and vested in terms of the plan are given in the Remuneration Policy and Remuneration Report contained in the Integrated Annual Report. Insurance and risk management The Group follows a policy of reviewing the risks relating to assets and commitments that might flow from the use thereof with its insurers on an annual basis. Wherever possible, assets are automatically included. There is also a continuous asset risk control programme, which is carried out in conjunction with the Group’s insurance brokers. For further information on the Group’s risk managment process please refer to the Corporate Governance report on page 70. Property, plant and equipment There was no change in the nature of the property, plant and equipment of the Group or in the policy regarding their use. Capital expenditure on tangible assets was R254,3 million (2011: R197,5 million) and R19,4 million (2011: R18,8 million) on intangible assets. Events after the reporting period On 28 August 2012 the Competition Commission conditionally approved Clover SA’s acquisition of The Real Juice Co. Holdings (Pty) Ltd from AVI Ltd. Clover SA accepted the conditions posed and the effective date of the transaction will be on 1 October 2012. Other than the above, no significant events occurred subsequent to the year-end. 98 – Clover Integrated Annual Report 2012 Direkteure en Sekretaris Besonderhede van die huidige Direkteure en Sekretaris word op bladsye 213 tot 215 uiteengesit. Aandelegebaseerde vergoeding ‘n Verdere 2,1 miljoen SAR is gedurende die huidige jaar aan uitvoerende beamptes uitgereik teen ‘n uitgifteprys van R11. Hierdie SAR sal drie jaar na die datum van uitreiking vestig en is onderworpe aan vestigingsvoorwaardes. SAR wat nie uitgeoefen is nie, sal sewe jaar na die datum van uitreiking gekanselleer word. Mnr E Bosch is op 1 Junie 2012 op die Uitvoerende Komitee aangestel en 953 620 SAR is op dieselfde dag aan hom uitgereik teen ‘n uitgifteprys van R13,50. Een derde van hierdie SAR sal drie jaar na die datum van uitreiking vestig, en daarna ‘n verdere derde ná vier jaar en die laaste derde na vyf jaar. Daar is geen vestigingsvoorwaardes verbonde aan hierdie SAR nie. SAR nie uitgeoefen nie sal sewe jaar ná die datum van uitreiking gekanselleer word. By uitoefening sal uitvoerende beamptes geregtig wees op ‘n betaling wat gelyk is aan die toename in die prys van gewone CIL-aandele bo die uitgifteprys van die SAR. Sodanige betaling kan volgens keuse van die Maatskappy óf in kontant óf by wyse van die uitreiking aan die lid van ‘n aantal gewone aandele wees wat gelyke waarde het as sodanige kontantbedrag. Besonderhede van SAR ingevolge die plan uitgereik en gevestig word in die Vergoedingsbeleid en Vergoedingsverslag in die Geïntegreerde Jaarverslag vervat. Versekering en risikobestuur Dit is die beleid van die Groep om jaarliks in samewerking met die versekeraars die risiko met betrekking tot die bates en moontlike aanspreeklikhede wat uit die bedryf daarvan mag voortvloei te hersien. Waar moontlik word bates teen vervangingswaarde verseker en nuwe aankope gedurende die jaar word outomaties ingesluit. Daar is ook ’n deurlopende baterisikobeheerprogram wat in samewerking met die Groep se versekeringsmakelaars bedryf word. Die verslag oor Korporatiewe Beheer op bladsy 270 handel meer breedvoerig met die Groep se risikobestuursproses. Eiendom, aanleg en toerusting Daar was geen verandering in die aard van die eiendom, aanleg en toerusting van die Groep of in die beleid ten opsigte van die gebruik daarvan nie. Kapitale besteding op tasbare bates was R254,3 miljoen (2011: R197,5 miljoen) en R19,4 miljoen (2011: R18,8 miljoen) op ontasbare bates. Gebeure na die verslagdoeningstydperk Die Mededingingskommissie het op 28 Augustus 2012 Clover SA se verkryging van die Real Juice Co. Holdings (Edms) Bpk van AVI Bpk voorwaardelik goedgekeur. Clover SA het die voorwaardes wat gestel is aanvaar en die effektiewe datum van die transaksie sal 1 Oktober 2012 wees. Behoudens die bogemelde het geen wesenlike gebeure na die jaareinde plaasgevind nie.
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