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SUN INTERNATIONAL ANNUAL REPORT ’10 154 GROUP STATEMENTS OF CASH FLOWS for the year ended 30 June Cash flows from operating activities Cash receipts from customers 7 949 8 108 Cash paid to suppliers, government and employees (5 728) (5 463) Cash generated by operations 28.1 2 221 2 645 Pre-opening expenses (28) (21) Net insurance proceeds for business interruption 153 – Tax paid 28.2 (519) (622) Net cash inflow from operating activities 1 827 2 002 Cash flows from investing activities Purchase of property, plant and equipment Expansion (354) (984) Replacement (677) (492) Purchase of intangible assets (19) (9) Proceeds on disposal of property, plant and equipment 11 31 Proceeds on disposal of shares in subsidiaries – 99 Purchase of shares in subsidiaries 28.3 (34) (22) Investment income 60 93 Acquisition of SFIR 28.4 – (189) Purchase of shares in associate – TCN (96) – Acquisition of TCN 28.5 (56) – Other non current loans made – (118) Net insurance proceeds for asset reinstatement 27 – Other non current loans realised 66 <strong>25</strong>9 Net cash outflow from investing activities (1 072) (1 332) Cash flows from financing activities Net decrease in borrowings 28.6 (451) (90) Interest paid 28.7 (533) (692) Dividends paid 28.8 (246) (559) Increase in minority funding 277 354 Increase in share capital 118 341 Proceeds on disposal of treasury shares 57 17 Purchase of treasury shares and share options (41) (99) Net cash outflow from financing activities (819) (728) Effect of exchange rate changes on cash and cash equivalents (9) 2 Net decrease in cash and cash equivalents (73) (56) Cash and cash equivalents at beginning of year 794 850 Cash and cash equivalents at end of year 28.9 721 794 Notes 2010 Rm 2009 Rm
Notes GROUP STATEMENTS OF CHANGES IN EQUITY Share capital and premium Rm Treasury shares Rm for the year ended 30 June for the year ended 30 June Treasury share options Rm Foreign currency translation reserve Rm Share based payment reserve Rm Availablefor-sale investment reserve Rm Hedging reserve Rm Reserve for noncontrolling interests* Rm Retained earnings Rm Ordinary shareholders’ equity Rm Minorities’ interests Rm Balance at 30 June 2008 8 (1 428) (411) 209 101 – – (1 480) 3 120 119 546 665 Share issue 21 99 99 99 Deemed treasury shares purchased 21 (78) (78) (78) Shares disposed by Dinokana 21 12 5 17 17 Treasury share options purchased 21 (21) (21) (21) Treasury share options exercised 21 241 241 241 Employee share based payments 34 28 28 28 Release of share based payment reserve (55) 55 – – Acquisition of subsidiary 28.4 – 240 240 Increase in minority funding – 354 354 Acquisition of minorities’ interests (26) (26) 4 (22) Disposal of interests to minorities 52 52 47 99 Total comprehensive income (85) 4 (55) 501 365 161 526 Dividends paid 13 (227) (227) (332) (559) Balance at 30 June 2009 107 (1 494) (191) 124 74 4 (55) (1 454) 3 454 569 1 020 1 589 Share issue 21 39 39 39 Deemed treasury shares purchased 21 (1) (1) (1) Deemed treasury shares disposed 21 2 2 2 Shares disposed by Dinokana 21 37 18 55 55 Treasury share options purchased 21 (40) (40) (40) Treasury share options exercised 21 79 79 79 Employee share based payments 34 37 37 37 Release of share based payment reserve and delivery of share awards (20) 16 (4) (4) Acquisition of subsidiary 28.5 – 219 219 Increase in minority funding 11 11 266 277 Acquisition of minorities’ interests (28) (28) (5) (33) Profit for the year 513 513 152 665 Other comprehensive income (66) 44 (22) (8) (30) Dividends paid – (246) (246) Balance at 30 June 2010 146 (1 456) (152) 58 91 4 (11) (1 471) 4 001 1 210 1 398 2 608 * Reserve for non-controlling interests relate to the premium paid on purchases of minorities’ interests and profits and losses on disposals of interests to minorities. Total Rm 155
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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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Beneficiaries of training 2010 Bene
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Training investment model JOINT REP
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JOB PROFILING Also forming part of
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Occupational hygiene and legionella
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OUR OBJECTIVES JOINT REPORT OF THE
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The table below sets out the direct
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MANAGEMENT JOINT REPORT OF THE CHIE
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GOLDEN VALLEY CASINO & LODGE’S EN
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INCIDENTS JOINT REPORT OF THE CHIEF
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Efforts to establish the Nedbank Go
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Our property ratings Rm 2010 2009 2
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AT A GLANCE JOINT REPORT OF THE CHI
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SHAWCO - This student-run NGO at th
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REGULATORY COMPLIANCE The South Afr
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OUR COMMITMENT CORPORATE GOVERNANCE
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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 and 124: Group statistics 2010 2009 2008 200
Page 125 and 126: Types of shareholders at 30 June 20
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: GROUP STATEMENTS OF FINANCIAL POSIT
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
Page 179 and 180: for the year ended 30 June 27. PROV
Page 181 and 182: for the year ended 30 June 28. CASH
Page 185 and 186: 29. FINANCIAL INSTRUMENTS (continue
Page 187 and 188: 32. RELATED PARTY TRANSACTIONS Key
Page 189 and 190: 32. RELATED PARTY TRANSACTIONS (con
Page 191 and 192: NOTES TO THE GROUP FINANCIAL STATEM
Page 197 and 198: COMPANY STATEMENTS OF FINANCIAL POS
Page 199 and 200: COMPANY STATEMENTS OF CHANGES IN EQ
Page 201 and 202: 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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