PDF 25 MB - Sun International | Investor Centre

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SUN INTERNATIONAL ANNUAL REPORT ’10 122 VALUE ADDED STATEMENTS CASH GENERATED Cash derived from revenue 7 949 8 108 Income from investments 60 93 2010 Rm Group 2009 Rm Change % Cash value generated 8 009 8 201 (2) Paid to suppliers for materials and services (2 767) (2 627) Pre-opening expenses (28) (21) Total cash value added 5 214 5 553 (6) CASH DISTRIBUTED TO STAKEHOLDERS Employees (1 387) (1 266) 10 Government taxes (2 026) (2 192) (8) Shareholders (246) (559) (56) Lenders (533) (692) (23) (4 192) (4 709) (11) Cash retained in the business to fund replacement of assets, facilitate future growth and repay borrowings RECONCILIATION WITH CASH GENERATION 1 022 844 21 Total cash value added (above) 5 214 5 553 Pre-opening expenses 28 21 Employee remuneration (1 387) (1 266) Employee tax (210) (217) Income from investments (60) (93) Levies and VAT on casino revenue (1 364) (1 353) Cash generated by operations (per group cash flow statements) GOVERNMENT TAXES SUMMARY 2 221 2 645 (16) Income tax (376) (511) PAYE (210) (217) Levies and VAT on casino revenue (1 364) (1 353) STC (72) (100) Other taxes (4) (11) CASH DISTRIBUTION TO STAKEHOLDERS TOTAL CASH VALUE ADDED (Rm) (2 026) (2 192) (8)
Types of shareholders at 30 June 2010 Insurance and assurance companies and provident funds 64% Investment companies 5% Banks, nominee companies and trusts 12% Share trusts 6% Corporate 1% Individuals 2% Treasury shares 10% Category Number of shareholders Number of shares owned % of total issued shares Size of shareholding 1 – 1 000 shares 3 100 952 655 0.86 1 001 – 10 000 shares 711 2 070 166 1.86 10 001 – 100 000 shares 319 12 804 292 11.53 100 001 – 1 000 000 shares 142 39 308 972 35.38 1 000 001 shares and over 24 45 409 568 40.87 4 296 100 545 653 90.50 Treasury shares 1 10 549 477 9.50 4 297 111 095 130 100.00 Ten largest beneficial shareholders at 30 June 2010 Number of shares owned % of total issued shares Sun International Investments No 2 (treasury shares) 10 549 477 9.50 SIEST* 5 603 015 5.04 Investment Solutions 4 963 995 4.47 Sanlam 4 631 238 4.17 Dinokana (excluding SIEST) 3 984 163 3.59 Metropolitan 3 853 259 3.47 Old Mutual Group 3 392 701 3.05 Transnet Pension Fund 2 556 794 2.30 Marathon Asset Management 2 250 629 2.02 Metal & Engineering Industries 2 218 018 2.00 * Includes an effective interest in 3 005 596 shares held indirectly through Dinokana. 44 003 289 39.61 Top 10 fund managers (shares held on behalf of clients) Number of shares % of total issued shares Allan Gray Asset Management 34 012 959 30.62 Investec Asset Management 11 633 141 10.47 Regarding Capital Management 7 035 107 6.33 Marathon Asset Management 5 172 573 4.65 Sanlam Investment Management 5 000 211 4.50 Metropolitan Asset Management 3 640 349 3.28 Old Mutual Investment Group 1 807 334 1.63 Hermes Pensions Management 1 596 579 1.44 Argon Asset Management 1 147 611 1.03 Afena Capital 1 038 002 0.93 72 083 866 64.88 Shareholders spread (beneficial) at 30 June 2010 SHAREHOLDERS Number of shareholders % of total issued shares Public: Non-public: 4 265 79.87 Directors of the company and its subsidiaries 28 1.62 Employee Share Trusts** 2 5.42 Empowerment*** 1 3.59 Own holdings – treasury shares 1 9.50 4 297 100.00 ** Consists of 2 597 419 shares held directly by the SIEST, 3 005 596 shares held by the SIEST indirectly via Dinokana and 419 386 shares held by the SIBEMT indirectly via Dinokana. *** Consists of 3 984 163 shares representing the effective direct beneficial shareholding of Dinokana less 3 005 596 shares held indirectly by the SIEST. 123
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ANNUAL REPORT 2010
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ABOUT THE INTEGRATED REPORT This re
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Carnival City AFRISUN GAUTENG 85% 8
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Monticello
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KEY STRATEGIC IMPERATIVES 3. OUR CU
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Energy management Communities Publi
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Non-Executive Directors MP (MIKE) E
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KH (Kele) Mazwai (41) / GROUP HUMAN
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INTRODUCTION This past year has onc
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Morula APPRECIATION On behalf of th
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AT A GLANCE FINANCIAL HIGHLIGHTS Wi
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TRADING AND GROUP OPERATING PERFORM
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Operational overview - Casinos and
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GrandWest JOINT REPORT OF THE CHIEF
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Gaming taxes by province and countr
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DIVIDENDS 1. SHAREHOLDER DELIVERY T
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JOINT REPORT OF THE CHIEF EXECUTIVE
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The Royal Livingstone 33
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AT A GLANCE 2. PROTECT OUR BUSINESS
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By the end of February, the number
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WILD COAST SUN The local community
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Our market share South Africa Gamin
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We estimate that the group’s shar
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Carnival City 45
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OUR OBJECTIVES IN THIS SECTION: JOI
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FEEDBACK ON THE CM INITIATIVES/PROJ
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51 51
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AT A GLANCE WHAT WE ACHIEVED Final
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CAPITAL COMMITMENTS Capital commitm
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AT A GLANCE JOINT REPORT OF THE CHI
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CONCESSIONAIRES Our concessionaires
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AT A GLANCE IN THIS SECTION: JOINT
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In line with global trends for lead
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JOINT REPORT OF THE CHIEF EXECUTIVE
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Beneficiaries of training 2010 Bene
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Training investment model JOINT REP
Page 73 and 74: JOB PROFILING Also forming part of
Page 75 and 76: Occupational hygiene and legionella
Page 77 and 78: OUR OBJECTIVES JOINT REPORT OF THE
Page 79 and 80: The table below sets out the direct
Page 81 and 82: MANAGEMENT JOINT REPORT OF THE CHIE
Page 83 and 84: JOINT REPORT OF THE CHIEF EXECUTIVE
Page 85 and 86: GOLDEN VALLEY CASINO & LODGE’S EN
Page 87 and 88: INCIDENTS JOINT REPORT OF THE CHIEF
Page 89 and 90: Efforts to establish the Nedbank Go
Page 91 and 92: Our property ratings Rm 2010 2009 2
Page 93 and 94: JOINT REPORT OF THE CHIEF EXECUTIVE
Page 95 and 96: AT A GLANCE JOINT REPORT OF THE CHI
Page 97 and 98: SHAWCO - This student-run NGO at th
Page 99 and 100: REGULATORY COMPLIANCE The South Afr
Page 101 and 102: OUR COMMITMENT CORPORATE GOVERNANCE
Page 103 and 104: Principle Action Outcome Independen
Page 105 and 106: The group’s governance is facilit
Page 107 and 108: The chief executive is mandated and
Page 109 and 110: Board meetings A minimum of four bo
Page 111 and 112: The audit committee is primarily re
Page 113 and 114: The committee has adopted a written
Page 115 and 116: The key risks that are identified,
Page 117 and 118: Internal control The board of direc
Page 119 and 120: The group has continued to actively
Page 121 and 122: Group 2010 2009 2008 2007 2006 2005
Page 123: Group statistics 2010 2009 2008 200
Page 127 and 128: principles of inclusivity, material
Page 129 and 130: The board and the remuneration comm
Page 131 and 132: Prior to the commencement of the re
Page 133 and 134: the travel and leisure sector that
Page 135 and 136: Share plan Date of grant Grant pric
Page 137 and 138: Emoluments Executive directors’ r
Page 139 and 140: for the year ended 30 June NOTES TO
Page 141 and 142: The annual financial statements whi
Page 143 and 144: TO THE MEMBERS OF SUN INTERNATIONAL
Page 145 and 146: HOLDING COMPANY The company has no
Page 147 and 148: which the entity operates (the func
Page 149 and 150: elating to certain firm commitments
Page 151 and 152: expenditure represents the total co
Page 153 and 154: government and other government rel
Page 155 and 156: GROUP STATEMENTS OF FINANCIAL POSIT
Page 157 and 158: Notes GROUP STATEMENTS OF CHANGES I
Page 159 and 160: for the year ended 30 June Operatin
Page 165 and 166: 14. PROPERTY, PLANT AND EQUIPMENT (
Page 167 and 168: 15. INTANGIBLE ASSETS (continued) S
Page 169 and 170: for the year ended 30 June 18. RETI
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for the year ended 30 June NOTES TO
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for the year ended 30 June 27. PROV
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for the year ended 30 June 28. CASH
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29. FINANCIAL INSTRUMENTS (continue
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32. RELATED PARTY TRANSACTIONS Key
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32. RELATED PARTY TRANSACTIONS (con
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NOTES TO THE GROUP FINANCIAL STATEM
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COMPANY STATEMENTS OF FINANCIAL POS
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COMPANY STATEMENTS OF CHANGES IN EQ
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NOTES TO THE COMPANY FINANCIAL STAT
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Notice is hereby given that the twe
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Litigation statement The directors
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SUN INTERNATIONAL LIMITED (Incorpor
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SUN INTERNATIONAL LIMITED Incorpora
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