circular to ordinary shareholders

32. SUBSIDIARIES, JOINT VENTURES, ASSOCIATES AND INVESTMENTSEffective holdingInvestment in shares(Economic interest) (Company and group) Net indebtedness2006 2005 2004 2006 2005 2004 2006 2005 2004% % % R’000 R’000 R’000 R’000 R’000 R’000SubsidiariesAkani Egoli 74,99 83,94 83,94 18 301 18 301 18 301 – 121 547 339 243Akani LeisureInvestments 49,97 – – 445 524 – – – – –Akani Msunduzi 85,00 85,00 85,00 2 377 2 377 2 377 – 11 0000 110 000West Coast Leisure 60,36 54,33 54,33 7 777 * * – – 17 916Garden Route Casino 85,00 42,50 42,50 12 343 – – – – –Inkonka 100,00 – – 156 495 – – – – –Goldfields Casino 88,00 14,67 14,67 * * * – – –Tanglepark 100,00 – – 128 596 – – – – –Gold Reef Management 100,00 100,00 100,00 63 501 63 501 63 501 (92 232) (75 577) (61 564)Akani Egoli Management 62,50 62,50 62,50 * 1 1 – – –Akani MsunduziManagement 62,50 62,50 62,50 * 1 1 – – –Aldiss Investments 100,00 100,00 100,00 * * * 43 557 43 538 43 527834 914 84 180 84 180 (48 675) 199 508 449 122Joint venturesSilverstar 50,00 – – 78 978 – – 26 180 – –Garden Route Casino – 42,50 42,50 – 12 343 12 165 – 25 094 26 121Newshelf 698 (Pty)Limited – 50,00 50,00 – 5 603 5 603 – 17 678 978 17 946 17 768 26 180 25 111 26 127AssociateGoldfields Casino – 14.67 14.67 – * * – 1 053 5 411InvestmentsAkani LeisureInvestments** – 93,39 91,67 – * * – 25 2Akani Leisure MsunduziInvestments*** 100,00 100,00 100,00 * * * 92 67 37Akani Leisure GoldfieldsInvestments*** 100,00 16,67 16,67 * * * 44 421 (1)Newshelf 786 (Pty)Limited*** – – – 30 539 – – – 57 620 –Newshelf 800 (Pty)Limited*** – – – 21 432 – – – – –Eglin Investments No. 30(Pty) Limited*** – – – 42 703 – – – – –Sekunjalo Health CareLimited 0,50 0,50 0,50 – – – – – –94 675 1 1 136 58 133 38Notes:* Amount less than R1 000.** This shareholding comprises preference shares only in 2005. Akani Leisure Investments is regarded as a subsidiary in 2006due to the subscription for ordinary shares in that company effective 1 January 2006.*** This shareholding comprises preference shares only.87