omnia holdings annual report 2010 omnia holdings annu

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94 OMNIA ANNUAL REPORT 2010 FINANCIAL STATEMENTS continued NOTES TO THE GROUP FINANCIAL STATEMENTS continued for the year ended 31 March 2010 6 INVENTORIES Raw materials 344 1 329 Finished goods 890 1 015 Consumables 81 47 2010 Rm 2009 Rm 1 315 2 391 Historical cost of inventories 1 336 2 424 Allowance for write-down to net realisable value (21) (33) Value as above 1 315 2 391 Inventory written-down during the current period 370 137 The cost of inventories recognised as an expense and included in cost of sales amounted to R6 805 million (2009: R8 478 million). 7 TRADE AND OTHER RECEIVABLES Trade and other receivables 1 237 1 360 Less: allowance for impairment of receivables (79) (141) Net trade receivables (refer note 30) 1 158 1 219 Prepayments 24 33 Value-added tax 44 51 Forward exchange contract 6 179 Other receivables 133 39 The value of impairment loss recognised during the year is R8 million (2009: R97 million). This impairment loss has been included within distribution expenses in the income statement. The fair values of trade and other receivables approximate their book values as shown above. 2010 Rm 2009 Rm 1 365 1 521 8 STATED CAPITAL Authorised: Stated capital 75 000 000 (2009: 75 000 000) ordinary shares of no par value Issued and fully paid up: Stated capital 47 249 825 (2009: 45 177 461) ordinary shares of no par value 318 201 2010 Rm 2009 Rm
8 STATED CAPITAL continued Number of shares ’000 Stated capital Rm Number of shares ’000 OMNIA ANNUAL REPORT 2010 95 Treasury shares Capital value Rm Net total Rm The movement in capital may be analysed as follows: Balance at 31 March 2008 45 177 201 (914) (13) 188 Treasury shares sold – – 107 2 2 Balance at 31 March 2009 45 177 201 (807) (11) 190 Shares issued 2 073 117 117 Treasury shares sold – – 49 3 3 Balance at 31 March 2010 47 250 318 (758) (8) 310 Refer to note 36 for disclosures in respect of the Omnia Share Incentive Scheme. In terms of a resolution of the shareholders, the directors are authorised to allot unissued ordinary shares of the company at their discretion subject to a limit of 5% of the issued share capital. The power remains effective until the next annual general meeting. 9 OTHER RESERVES Sharebased payment reserve Rm Foreign currency translation reserve Rm Other reserves Rm At 31 March 2008 45 79 3 127 Share-based payment – value of services provided 32 – – 32 Increase in foreign currency translation reserve – 127 – 127 At 31 March 2009 77 206 3 286 Share-based payment – value of services provided 49 – – 49 Share-based payment – ordinary shares issued (45) – – (45) Decrease in foreign currency translation reserve – (228) – (228) Cash flow hedge – – (8) (8) At 31 March 2010 81 (22) (5) 54 The share-based payment reserve is adjusted when the entity revises its estimates of the number of share options that are expected to become exercisable. It recognises the impact of the revision of the original estimates, if any, in the income statement, with a corresponding adjustment to this reserve in equity for equity-settled plans. The fair value of share options issued to employees is accounted for in the share-based payment reserve over the vesting period. The foreign currency translation reserve relates to exchange differences arising from the translation of foreign subsidiaries’ and joint ventures’ income statements at average rates for the year and their balance sheets at the ruling exchange rates at the balance sheet date. Other reserves consist of cash flow hedge and a non-distributable reserve in respect of the net discount arising in previous years on the acquisition of shares of subsidiaries. Total Rm
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OMNIA HOLDINGS ANNUAL REPORT 2010
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OMNIA’S MILESTONES 1976 1974 1972
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FINANCIAL HIGHLIGHTS Audited 31 Mar
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OUR VISION CREATING CUSTOMER WEALTH
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OMNIA ANNUAL REPORT 2010 5 The diff
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Participants were required to inves
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Statistical information 31 March 20
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The world today faces the compoundi
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OMNIA ANNUAL REPORT 2010 13 Omnia
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Rod Humphris (53) Executive directo
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OMNIA ANNUAL REPORT 2010 17 Notwith
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(2009: 1 107,4 cents), and headline
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the best agronomic advice in all as
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OMNIA ANNUAL REPORT 2010 23 The sou
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Within the Chemicals Division produ
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Overview of Chemicals Protea Chemic
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MINING DIVISION - REVIEW OPERATIONA
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of ore. The risks normally associat
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Financial performance As expected,
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About this report This sustainabili
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highly productive lands are also mo
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- Vaal Triangle Priority Area Air M
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Challenges and opportunities Our re
Page 47 and 48: Corporate governance This corporate
Page 49 and 50: Board committees While the Board re
Page 51 and 52: The Group has made great strides in
Page 53 and 54: concern assumption at the interim r
Page 55 and 56: implemented to introduce a technolo
Page 57 and 58: There has been a marked improvement
Page 59 and 60: Social performance Recognising our
Page 61 and 62: for new students of a Certificate i
Page 63 and 64: To entrench these commitments throu
Page 65 and 66: At Omnia Fertilizer, all incidents
Page 67 and 68: Water Use Licence Application (IWUL
Page 69 and 70: FINANCIAL STATEMENTS A responsible
Page 71 and 72: REPORT OF THE AUDIT COMMITTEE for t
Page 73 and 74: DIRECTORS’ REPORT The directors a
Page 75 and 76: DIRECTORS’ SHAREHOLDING as at 31
Page 77 and 78: GROUP INCOME STATEMENT for the year
Page 79 and 80: GROUP STATEMENT OF CHANGES IN EQUIT
Page 81 and 82: NOTES TO THE GROUP FINANCIAL STATEM
Page 83 and 84: IAS 39, only certain, rather than a
Page 85 and 86: 1.5 Cost of sales When inventories
Page 87 and 88: are presented in the income stateme
Page 89 and 90: fair value of plan assets, together
Page 91 and 92: 1.22 Financial risk management 1.22
Page 93 and 94: 2 PROPERTY, PLANT AND EQUIPMENT Fre
Page 95 and 96: 2 PROPERTY, PLANT AND EQUIPMENT con
Page 97: 4 AVAILABLE-FOR-SALE FINANCIAL ASSE
Page 101 and 102: 13 INTEREST-BEARING BORROWINGS OMNI
Page 103 and 104: 15 PROVISIONS OMNIA ANNUAL REPORT 2
Page 105 and 106: 19 FINANCE EXPENSES OMNIA ANNUAL RE
Page 107 and 108: 21 EARNINGS PER SHARE AND DIVIDENDS
Page 109 and 110: 28 ACQUISITION OF BUSINESS OMNIA AN
Page 111 and 112: 29 FINANCIAL RISK MANAGEMENT contin
Page 113 and 114: 29 FINANCIAL RISK MANAGEMENT contin
Page 115 and 116: 30 RELATED PARTY TRANSACTIONS conti
Page 117 and 118: 32 RETIREMENT BENEFIT INFORMATION c
Page 119 and 120: OMNIA ANNUAL REPORT 2010 115 33 CON
Page 121 and 122: 36 SHARE INCENTIVE SCHEME continued
Page 123 and 124: 36 SHARE INCENTIVE SCHEME continued
Page 125 and 126: Country of incorporation Issued cap
Page 127 and 128: COMPANY INCOME STATEMENT for the ye
Page 129 and 130: COMPANY CASH FLOW STATEMENT for the
Page 131 and 132: SUMMARY OF SHAREHOLDER SPREAD at 31
Page 133 and 134: NOTICE TO SHAREHOLDERS for the year
Page 135 and 136: FORM OF PROXY For use at the annual
Page 137 and 138: ADMINISTRATION GROUP COMPANY SECRET
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omnia holdings annual report 2010 omnia holdings annu

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