NVFH 2020 Integrated Annual Report

More documents

Recommendations

Info

NVest Financial Holdings Limited and its subsidiaries | (Registration number 2008/015990/06)Annual Financial Statements for the year ended 29 February 2020IndexThe reports and statements set out below comprise the annual financial statements presented to the shareholdersDirectors’ Report 75 - 77Statement of Financial Position 78Statement of Profit or Loss and Other Comprehensive Income 79Statement of Changes in Equity 80 - 81Statement of Cash Flows 82 - 83Accounting Policies 84 - 93Notes to the Consolidated Annual Financial Statements 94 - 12574NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020
NVest Financial Holdings Limited and its subsidiaries | (Registration number 2008/015990/06)Annual Financial Statements for the year ended 29 February 2020Directors’ReportThe directors have pleasure in submitting their report on the annual financial statements of NVest Financial Holdings Limitedand its subsidiaries and the group for the year ended 29 February 2020.1. Review of financial results and activitiesThe consolidated annual financial statements have been prepared in accordance with International Financial ReportingStandards and the requirements of the Companies Act 71 of 2008. The accounting policies have been applied consistentlycompared to the prior year.Full details of the financial position, results of operations and cash flows of the group are set out in these consolidated annualfinancial statements.2. Share capital2020 2019AuthorisedNumber of sharesOrdinary shares 1,000,000,000 1,000,000,0002020 2019 2020 2019Issued R R Number of sharesOrdinary shares 326,154,200 324,779,200 303,241,722 302,741,722There have been no changes to the authorised or issued share capital during the year under review.3. DividendsThe company’s dividend policy is to consider an interim and a final dividend in respect of each financial year. At its discretion,the directors may consider a special dividend, where appropriate. Depending on the perceived need to retain funds forexpansion or operating purposes, the directors may pass on the payment of dividends.A final dividend (number 9) of 6.25 cents per share (R18,921,358) was declared on 20 May 2019 and paid on 18 June 2019. Thisin respect of the year ended 28 February 2019.An interim dividend (number 10) of 5.25 cents per share (R15 920 190) was declared on 18 November 2019 and paid on9 December 2019 in respect of the year ended 29 February 2020.4. Share incentive schemeRefer to note 37 of the consolidated annual financial statements for details of the group share incentive scheme.NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020 75
Page 5 and 6:
GroupAwards2019 Morningstar Award-
Page 7 and 8:
Contents06 Chairman’s Report08 Ch
Page 9 and 10:
01ABOUTNVESTHOLDINGSNVest Financial
Page 11 and 12:
As a consequence of all of these th
Page 13 and 14:
those of the previous year and, sec
Page 15 and 16:
SubsidiaryFeb 2020RevenueFeb 2019Re
Page 17 and 18:
worldwide, resulting in an economic
Page 19 and 20:
REVENUE - FEB 2020REVENUE (R)Invest
Page 21 and 22:
ANTHONY DENIS GODWIN (60)CHIEF EXEC
Page 23 and 24:
DR LANA JOY WELDON (46)INDEPENDENT
Page 25 and 26:
Siviwe Relebohile Kwatsha (41)Group
Page 27 and 28: Name:Rob MastersLocation:NFB PWM EL
Page 29 and 30: Name:Melany AnnandaleLocation:NFB I
Page 31 and 32: 02GROUPAFFAIRSNVest Financial Holdi
Page 33 and 34: 199019941995Beyond our borders. NFB
Page 35 and 36: Our BusinessSummaryBrand Core Produ
Page 37 and 38: The evolutionof the NFB Brand1985NA
Page 39 and 40: NFB Private Wealth Management -the
Page 41 and 42: NFB Private Wealth Management- triu
Page 43 and 44: Loaves & Fishes NetworkDeep poverty
Page 45 and 46: NVest Financial Holdings Limited |
Page 47 and 48: Corporate Governance& Sustainabilit
Page 49 and 50: needs of the Board in considering s
Page 51 and 52: A detailed report of the Social and
Page 53 and 54: Legal Compliance: The inherentrisk
Page 55 and 56: PART 5.2: Strategy, performance and
Page 57 and 58: Principle 9Evaluations of the perfo
Page 59 and 60: • the Group’s risk management a
Page 61 and 62: (bb) the Organisation for Economic
Page 63 and 64: • internal audit policy including
Page 65 and 66: Remuneration andNominationsCommitte
Page 67 and 68: an incentive basis (mainly through
Page 69 and 70: Directors Responsibilitiesand Appro
Page 71 and 72: IndependentAuditor’s ReportIndepe
Page 73 and 74: Key audit matterGoodwill assessment
Page 75 and 76: material uncertainty exists, we are
Page 77: GeneralInformationNVest Financial H
Page 81 and 82: NVest Financial Holdings Limited an
Page 129 and 130:
NVest Financial Holdings Limited an
Page 131 and 132:
GeneralInformationCompany NameDate
Page 133 and 134:
Notice of AnnualGeneral Meeting & P
Page 135 and 136:
Explanatory note for ordinary resol
Page 137 and 138:
person/s authorised by the board),
Page 139 and 140:
In order for this resolution to be
Page 141 and 142:
Special Resolution Number 1 -Genera
Page 143 and 144:
(c)) and in terms of the memorandum
show all

NVFH 2020 Integrated Annual Report

Create successful ePaper yourself

Delete template?

Save as template?