2008 Annual report - Sappi

sappi //
Investments
at September 2008
Share Effective Book value Loan to Loan from
capital holding of investment subsidiary subsidiary
Annexure A 2008 2007 2008 2007 2008 2007 2008 2007
Investments in subsidiaries ZAR ZAR ZAR ZAR ZAR ZAR
and joint venture % % million million million million million million
Set out below are the more
significant subsidiaries
and joint ventures or
those that have a loan
with Sappi Limited
Southern Africa
Sappi Management
Services (Pty) Ltd M ZAR100 100 100 – – 456 401 – –
Sappi Manufacturing
(Pty) Ltd O ZAR12,026,250 100 100 1,851 1,851 1,357 1,153 – –
Sappi Share Facilitation
Company (Pty ) Ltd O ZAR1,000 100 100 – – 607 663 – –
Usutu Pulp Company Ltd O SZL10,000,000 100 100 – – – – – –
America
S.D. Warren Company O USD1,000 100 100 – – – – (35) (17)
Sappi Cloquet LLC O – (1) 100 100 – – – – – –
Europe
Sappi Alfeld GmbH O EUR31,200,000 100 100 – – – – – (2)
Sappi Austria Produktions
GmbH and CoKG O EUR35,000 100 100 – – – – – –
Sappi Deutschland GmbH O EUR25,565 100 100 – – – – – –
Sappi Ehingen GmbH O EUR20,800,000 100 100 – – – – – –
Sappi Esus Beteiligungsverwaltungs
GmbH H EUR1,000,000 100 100 – – – – – –
Sappi Europe SA O EUR15,130,751 100 100 – – – – (31) (25)
Sappi Fine Paper plc M GBP50,000 100 100 1 1 – – – –
Sappi Holding GmbH H EUR72,700 100 100 10,375 10,059 – – (6) (7)
Sappi International SA F EUR1,200,603,930 100 100 – – 32 3 – –
Sappi Lanaken NV O EUR51,377,000 100 100 – – – – – –
Sappi Lanaken Press
Paper NV O EUR57,179,613 100 100 – – – – – –
Sappi Maastricht BV O EUR31,992 100 100 – – – – – –
Sappi Nijmegen BV O EUR59,037 100 100 – – – – – –
Sappi Papier Holding
GmbH H&O EUR72,700 100 100 – – 1 74 – –
Sappi Trading Pulp AG O CHF100,000 100 100 – – – – – (16)
Sappi UK Ltd O GBP74,020,000 100 100 – – – – – (2)
Asia
Jiangxi Chenming Paper
Co. Ltd JV RMB1,424,160,000 34 100 – – – – – –
Other
Brocas Ltd (2) H US$3,385,401 100 100 – 122 – – – –
Lignin Insurance Co. Ltd (3) F US$656,000 100 100 85 221 3 1 – –
Employee share
participation Trusts – – – – (30) –
Various other companies 7 8 – 1 (3) (1)
12,319 12,262 2,456 2,296 (105) (70)
Write down of investment
in subsidiaries – (9) – – – –
Holding companies H Management companies M
Operating companies O Joint venture JV
Finance companies F
(1) No issued share capital, only additional paid in capital of US$488 million.
(2) Impairment of investment.
(3) Declared a dividend out of pre-acquisition reserves.
12,319 12,253 2,456 2,296 (105) (70)
// 2008 Annual report
187