Astral Foods Annual Report 2008

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GROUP STRUCTURE100%ASTRAL OPERATIONS LIMITED100%National Chicks LimitedMeadow Feeds50%NuTec Southern Africa(Pty) LimitedNVS Biocare67%National ChicksSwaziland (Pty) LimitedCentral AnalyticalLaboratoriesEarlybird Olifantsfontein100%Africa Feeds Limited(Zambia)Earlybird StandertonCounty FairFoods33%Meaders Feeds Limited(Mauritius)National Chicks100%Meadow Feeds(Eastern Cape) (Pty) Limited50%East Balt South AfricaPartnershipAnimal Nutrition OperationsPoulty Operations90%Ross Poultry Breeders(Pty) LimitedInvestment HoldingBakery6Astral Foods Annual Report 200882%Elite Breeding Farms80%Meadow MoçambiqueLimited
DIRECTORATEINDEPENDENT NON-EXECUTIVE DIRECTORSJURIE JOHANNES GELDENHUYS (65)Independent non-executive directorBSc (Eng Elec), BSc (Eng Mining), MBADirector of companiesAppointed to the board on 24 May 2001Chairman of the board, chairman of the human resources and remuneration committee,chairman of the nominations committee and member of the audit and risk managementcommitteePreviously served on the boards of Anglovaal Limited, Avmin Limited and its various gold mines, andIscor Limited (now ArcelorMittal South Africa). Served as the Chamber of Mines president (1993 –1994) and served on its Executive Council, Gold Producers’ Committee and various chamber relatedboard committees.Previously served on the Council of the Atomic Energy Corporation and on the National WaterAdvisory Council. Retired as managing director of Avgold Limited during 2001. Currently a directorof the listed Exxaro Resources Limited (chairman of safety, health and environmental committee andmember of the transformation, nominations, human resources and remuneration committee).THABANG CHARLOTTE CHRISTINE MAMPANE (50)Independent non-executive directorBA Hons (Public Administration), Masters in ManagementGroup Executive in the Group CEO’s office and Regions: South African BroadcastingCorporationAppointed to the board on 14 November 2003Member of the human resources and remuneration committee and member of thenominations committeeStarted career at the SABC in 1983 as a junior announcer on Radio Seswana and remained in thisposition until promoted into the role of senior announcer in 1989. Promoted to Manager: Drama,Culture and Language in 1991. Joined Telkom as Manager of the Audio Visual Section in 1995 butreturned to the SABC in 1996 as General Manager of the portfolio of eight radio stations, thereafterappointed as Chief Executive, Radio division for three years. Head of Regions from 2002 to 2005before being appointed to her current position as Group Executive in the Group’s CEO’s office andRegions. Non-executive director of National Film and Video Foundation.MALCOLM MACDONALD (66)Independent non-executive directorBCom, CA(SA), ACIMADirector of companiesAppointed to the board on 14 November 2003Chairman of the audit and risk management committeeServed as financial director of Iscor Limited (now ArcelorMittal South Africa) and its internationalsteel marketing company until retirement in 2004. Previously general manager of the IndustrialDevelopment Corporation of SA Limited and non-executive director of many of its associatedcompanies in a variety of industries (engineering, agriculture, chemicals, shipping, financial services,minerals extraction and processing).Currently serves on the boards and as chairman of the audit committees of the listed GijimaASTGroup Limited, and unlisted Coris Capital.Astral Foods Annual Report 20087
Page 1 and 2: Astral FoodsAnnual Report 2008
Page 3 and 4: PROFILEAstral Foods is a leading So
Page 5 and 6: POULTRYBROILER GENETICSRoss Poultry
Page 7: GREAT EMPHASIS IS PLACED ON CASH FL
Page 11 and 12: EXECUTIVE DIRECTORSNICOLAAS CORNELI
Page 13 and 14: Construction was started on a breed
Page 15 and 16: The South African animal feed marke
Page 17 and 18: CORPORATE GOVERNANCEOur approach to
Page 19 and 20: Board:2007 2008Director 8/11 24/1
Page 21 and 22: To further enhance the effectivenes
Page 23 and 24: INTERNAL AUDITWe have established a
Page 25 and 26: with Meadow Feeds Paarl, Meadow Fee
Page 27 and 28: VALUE-ADDED STATEMENTfor the year e
Page 29 and 30: DEFINITIONSOperating profit marginO
Page 31 and 32: APPROVAL OF ANNUAL FINANCIAL STATEM
Page 33 and 34: INDEPENDENT AUDITOR’S REPORTWe ha
Page 35 and 36: 4. BUSINESS REVIEW (continued)The f
Page 37 and 38: 9. DIRECTORS (continued)Subsequent
Page 39 and 40: SHARE INCENTIVE SCHEME INTERESTSSha
Page 41 and 42: SEGMENT REPORT - GROUPfor the year
Page 43 and 44: 2. NEW STANDARDS AND INTERPRETATION
Page 45 and 46: 3. INTEREST IN GROUP ENTITIES (cont
Page 47 and 48: 6. PROPERTY, PLANT AND EQUIPMENT (c
Page 49 and 50: 12. FINANCIAL ASSETS (continued)Loa
Page 51 and 52: 21. DERIVATIVE FINANCIAL INSTRUMENT
Page 53 and 54: 22. EMPLOYEE BENEFITS (continued)Sh
Page 55 and 56: 26. CRITICAL ACCOUNTING ESTIMATES A
Page 57 and 58: INCOME STATEMENTfor the year ended
Page 59 and 60:
CASH FLOW STATEMENTfor the year end
Page 61 and 62:
NOTES TO THE ANNUAL FINANCIAL STATE
Page 63 and 64:
6. BIOLOGICAL ASSETSEgg Breeding Br
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GROUPCOMPANY2008 2007 2008 2007R’
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11. SHARE-BASED PAYMENTS (continued
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GROUPCOMPANY2008 2007 2008 2007R’
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GROUPCOMPANY2008 2007 2008 2007R’
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GROUPCOMPANY2008 2007 2008 2007R’
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GROUPCOMPANY2008 2007 2008 2007R’
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GROUPCOMPANY2008 2007 2008 2007R’
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28. FINANCIAL INSTRUMENTS (continue
Page 81 and 82:
Group2008 2007R'000 R'00029. RELATE
Page 83 and 84:
31. INTEREST IN SUBSIDIARY COMPANIE
Page 85 and 86:
ANALYSIS OF ORDINARY SHAREHOLDERSat
Page 87 and 88:
AMENDMENT OF ARTICLES OF ASSOCIATIO
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SHAREHOLDERS’ DIARYFinancial year
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FORM OF PROXYASTRAL FOODS LIMITED(I
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Astral Foods Annual Report 2008
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Astral Foods Annual Report 2008

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