2001 Annual Report - OneSteel

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Directors’ DeclarationThe directors of OneSteel Limited declare that the accompanying Concise Financial Report is presented fairly in accordance withapplicable Australian Accounting Standards and is consistent with the consolidated entity’s 30 June 2001 financial report.In respect to the 30 June 2001 Concise Financial Report of OneSteel Limited, the directors declared that:(a) the financial statements and associated notes comply with the Accounting Standards and Urgent Issues Group Consensus Views;(b) the financial statements and notes give a true and fair view of the financial position as at 30 June 2001 and performance of thecompany and consolidated entity for the year then ended; and(c) in the directors’ opinion;(i) there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable,and the companies and parent entity who are party to the deed described in note 31 of the full financial statements, will together beable to meet any obligations or liabilities to which they are, or may become subject to, by virtue of the deed of cross guaranteedated 22 May 2001; and(ii) the financial statements and notes are in accordance with the Corporations Act (2001), including sections 296 and 297.This statement has been made in accordance with a resolution of the directors.Peter SmedleyChairmanSydney21 August 2001Robert EveryManaging DirectorIndependent Audit ReportTo the Members of OneSteel LimitedScopeWe have audited the Concise Financial Report of OneSteel Limited for the financial year ended 30 June 2001 as set out on pages 38 to46, in order to express an opinion on it to the members of the company. The company’s Directors are responsible for the ConciseFinancial Report.Our audit has been conducted in accordance with Australian Auditing Standards to provide reasonable assurance whether the ConciseFinancial Report is free of material misstatement. We have also performed an independent audit of the full financial report of OneSteelLimited for the year ended 30 June 2001. Our audit on the full financial report was signed on 21 August 2001 and was not subject toany qualification.Our procedures in respect of the audit of the Concise Financial Report included testing that the information in the Concise Financial Reportis consistent with the full financial report and examination, on a test basis, of evidence supporting the amounts, discussion and analysis,and other disclosures which were not directly derived from the full financial report. These procedures have been undertaken to form anopinion whether, in all material respects, the Concise Financial Report is presented fairly in accordance with Accounting StandardAASB1039 “Concise Financial Reports”.The audit opinion expressed in this report has been formed on the above basis.Audit OpinionIn our opinion, the Concise Financial Report of OneSteel Limited complies with Accounting Standard AASB1039 “Concise FinancialReports”.ARTHUR ANDERSENChartered AccountantsSydney21 August 200146CRAIG M. JACKSONPartner
Shareholder InformationNUMBER OF SHAREHOLDERSThere were 206,755 shareholders at 7 September 2001. There is only one class of share, ordinary fully paid shares. All issued sharescarry voting rights on a one-for-one basis.Distribution of Shareholdings at 7 September 2001Range of Holdings Number of Shareholders % of Total Holders Number of Shares % of Total Shares1–1,000 166,315 80.44 38,964,822 8.451,001–5,000 29,725 14.38 63,679,932 13.825,001–10,000 5,626 2.72 41,794,942 9.0710,001–100,000 4,918 2.38 104,219,160 22.61100,001 and over 171 0.08 212,294,468 46.05Total 206,755 100.00 460,953,324 100.00Unmarketable ParcelsThere were 140,657 members holding less than a marketable parcel of shares in the company, as at 7 September 2001.ListingThe company’s shares are quoted on the Australian Stock Exchange.Twenty Largest Shareholders at 7 September 2001Number of Shares % of Total SharesPTA Nominees Limited 30,295,761 6.57National Nominees Ltd 22,775,255 4.94Westpac Custodian Nominees Ltd 15,826,595 3.43OneSteel Share Plans Pty Limited (deferred plan a/c) 14,681,833 3.19Chase Manhattan Nominees Ltd 14,665,596 3.18Japan Resources Limited 9,309,000 2.02HKBA Nominees Limited 8,838,105 1.92Queensland Investment Corporation 8,553,701 1.86Australian Mutual Provident Society 8,416,553 1.83JG Pastoral Pty Ltd 5,012,500 1.09The Homestead (Tolga) Pty Ltd 5,000,000 1.08MLC Group of Companies 4,481,879 0.97Tyndall Life Insurance Company Limited 4,282,300 0.93Royal & Sun Alliance Life 3,717,385 0.81Guardian Trust Australia Limited (TASWP a/c) 2,925,621 0.63Mitsubishi Development Pty Ltd 2,491,723 0.54CSS Board 2,469,495 0.54Commonwealth Custodian Services Ltd 2,444,815 0.53ANZ Nominees Limited 2,296,722 0.50Health Super Pty Ltd 2,123,179 0.46Total 170,608,018 37.02Total Issued Shares 460,953,324Substantial shareholders as defined by theCorporations Law (holding at least 5% of shares):PTA Nominees Limited 30,295,761 6.57Unquoted equity securitiesOptions over ordinary shares issued pursuant to the OneSteel executive share/option plan:• Number of employees participating 47• Number of securities 5,571,460SHAREHOLDER INFORMATIONShare RegistryShareholders with queries about anything related to their shareholding should contact the OneSteel Share Registry in Sydney on telephone1300 364 787 or +61 3 9615 5918. Alternatively, shareholders may wish to write to:Computershare Investor Services Pty LimitedLevel 3, 60 Carrington StreetSydney NSW 2000AustraliaOr on facsimile: +61 2 8234 505047
Page 1 and 2: 2001 ANNUAL REVIEW
Page 3 and 4: CONTENTSOne Business 2Year One High
Page 5 and 6: ssVertically-Integrated OperationsO
Page 7 and 8: FINANCIAL HIGHLIGHTS - PRO-FORMA*Fi
Page 9 and 10: Inventories were managed down $106.
Page 11 and 12: Figure Two - OneSteel IntegrationWH
Page 13 and 14: Management StructureONESTEEL LIMITE
Page 15 and 16: Figure Ten - Other Manufacturing ($
Page 17 and 18: Map of OperationsCANADAYukonWhiteho
Page 19 and 20: Australian DistributionTHE BUSINESS
Page 21 and 22: OneSteel structural steel used for
Page 23 and 24: Human ResourcesSTANDING ALONEMuch o
Page 25 and 26: EnvironmentOneSteel Duragal product
Page 27 and 28: CommunityOneSteel recognises the im
Page 30 and 31: Corporate Governance (continued)Com
Page 32 and 33: Directors’ ReportDIRECTORSThe fol
Page 34 and 35: Directors’ Report (continued)Deta
Page 36 and 37: Discussion of Pro-forma ResultsPRO-
Page 38 and 39: Pro-forma Results12 months to 30 Ju
Page 40 and 41: Discussion and Analysis ofStatutory
Page 42 and 43: Statement of Financial PerformanceF
Page 44 and 45: Notes to the Concise Financial Repo
Page 46 and 47: Notes to the Concise Financial Repo
Page 50 and 51: Shareholder Information (continued)
Page 53 and 54: 2001 FULL FINANCIAL REPORT
Page 55 and 56: Directors’ ReportDIRECTORSThe fol
Page 57 and 58: Directors’ Report (continued)Deta
Page 59 and 60: Statement of Financial PositionAT 3
Page 61 and 62: Statement of Cash FlowsFOR THE PERI
Page 63 and 64: Notes to the Financial StatementsNO
Page 87 and 88: Independent Audit ReportTo the Memb
Page 89 and 90: Shareholder Information (continued)
Page 91: Company DirectoryDIRECTORSPeter Sme

2001 Annual Report - OneSteel

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