PDF 25 MB - Sun International | Investor Centre
PDF 25 MB - Sun International | Investor Centre
PDF 25 MB - Sun International | Investor Centre
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SUN INTERNATIONAL ANNUAL REPORT ’10<br />
180<br />
NOTES TO THE GROUP FINANCIAL STATEMENTS CONTINUED<br />
for the year ended 30 June<br />
28. CASH FLOW INFORMATION (continued)<br />
28.8 Dividends paid<br />
To shareholders – (227)<br />
To minorities in subsidiaries (246) (332)<br />
2010<br />
Rm<br />
2009<br />
Rm<br />
(246) (559)<br />
28.9 Cash and cash equivalents<br />
Cash at bank 599 649<br />
Cash floats 122 145<br />
29. FINANCIAL INSTRUMENTS<br />
Liquidity risk<br />
721 794<br />
Liquidity risk is the risk that the group will not be able to meet its financial obligations as they fall due. The group at all times maintains adequate<br />
committed credit facilities in order to meet all its commitments as and when they fall due. Repayment of borrowings are structured to match<br />
the expected cash flows from operations to which they relate.<br />
The group’s preference share funding is subject to debt covenants which are reviewed on an on-going basis.<br />
The following are the contractual undiscounted maturities of financial liabilities (including principal and interest payments):<br />
On demand<br />
or not exceeding<br />
6 months<br />
Rm<br />
More than<br />
6 months but not<br />
exceeding 1 year<br />
Rm<br />
More than<br />
1 year but not<br />
exceeding 2 years<br />
Rm<br />
More than<br />
2 years but not<br />
exceeding 5 years<br />
Rm<br />
More than<br />
5 years<br />
Rm<br />
2010<br />
Term facilities 47 67 128 352 170<br />
V&A loan 18 18 38 138 493<br />
Redeemable preference shares 331 93 1 163 1 892 –<br />
Lease liabilities 35 35 72 – –<br />
Vacation Club members – – 90 – 99<br />
Short term banking facilities* 73 1 761 – – –<br />
Minority shareholder loans 331 – – – –<br />
Derivative financial instruments 32 6 <strong>25</strong> 42 –<br />
Trade payables 172 – – – –<br />
Accrued expenses 638 – – – –<br />
Interest payable 8 – – – –<br />
Capital creditors 41 – – – –<br />
Other payables 9 – – – –<br />
1 735 1 980 1 516 2 424 762<br />
2009<br />
Term facilities 101 162 199 211 640<br />
V&A loan 16 16 35 127 543<br />
Redeemable preference shares 112 112 422 3 082 –<br />
Lease liabilities 41 32 70 74 –<br />
Vacation Club members – – – 90 99<br />
Short term banking facilities 71 1 815 – – –<br />
Derivative financial instruments 66 28 29 58 14<br />
Trade payables 210 – – – –<br />
Accrued expenses 480 – – – –<br />
Interest payable 11 – – – –<br />
Capital creditors 37 – – – –<br />
Other payables 21 – – – –<br />
1 166 2 165 755 3 642 1 296<br />
* These are 364 day notice facilities. As at the date of this report no notice on any of these facilities had been received.
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