omnia holdings annual report 2010 omnia holdings annu

21 EARNINGS PER SHARE AND DIVIDENDS PER SHARE continued
c) Dividends per share
OMNIA ANNUAL REPORT 2010 103
Final dividend per share declared and paid during the year (cents)
in respect of the prior year^ 150,0 117,0
Interim dividend declared and paid in respect of current year (cents) – 100,0
^ Shareholders could elect to receive 145 cents per share instead of the capitalisation award.
22 BANK BORROWINGS
In terms of the company’s Articles of Association, the Group’s borrowing powers
are limited to 250% of the ordinary shareholders’ interest.
Borrowing capacity in terms of the Articles of Association 4 928 5 342
Total net borrowings (404) (952)
Unutilised borrowing capacity
The Group has the following undrawn borrowing facilities:
Floating rate:
4 524 4 390
– Expiring within one year 2 602 2 458
2 602 2 458
The banking facilities of the company are secured by unlimited letters of suretyship from Group companies.
23 COMMITMENTS
(a) Capital commitments
Capital expenditure approved by the directors but not contracted for 420 91
Capital expenditure approved and contracted for but no delivery has taken place 9 9
Funds to meet those commitments will be provided from cash flow from operations
and facilities negotiated.
This expenditure relates to property, plant and equipment.
(b) Operating lease commitments
The future minimum lease payments under non-cancellable operating leases
are as follows:
429 100
Not later than 1 year 20 17
Later than 1 year and not later than 5 years 79 22
Later than 5 years 9 1
108 40
The Group leases various offices, warehouses, vehicles and office equipment under non-cancellable operating lease agreements.
The leases have varying terms, escalation clauses and renewal rights. The lease expenditure charged to the income statement
during the year is disclosed in note 18.
2010
Rm
2010
Rm
2009
Rm
2009
Rm