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SUN INTERNATIONAL ANNUAL REPORT ’10 204 INTEREST IN PRINCIPAL SUBSIDIARIES for the year ended 30 June Amount of issued Interest of holding company capital Effective holding Shares Indebtedness 2010 R000’s 2009 R000’s SUBSIDIARIES * Unlisted Afrisun Gauteng (Pty) Limited (1) 188 188 88 88 – – 110 170 Afrisun KZN (Pty) Limited (1) 133 133 60 59 – – – – Afrisun KZN Manco (Pty) Limited (1) 1 1 30 30 – – – – Afrisun Leisure Investments (Pty) Limited (1) 54 54 51 51 – – – – Emfuleni Casino Resorts Manco (Pty) Limited (1) – – 38 38 – – – – Emfuleni Resorts (Pty) Limited (1) 85 85 82 82 – – – – Gauteng Casino Resort Manco (Pty) Limited (1) 1 1 44 44 – – – – Kimberley Casino Resort Manco (Pty) Limited (1) – – 50 50 – – – – Lesotho Sun (Pty) Limited (4) 1 1 49 49 – – 46 – Mahogony Rose Investments 46 (Pty) Limited (1) – – 100 100 – – – – Mangaung Casino Resort Manco (Pty) Limited (1) 1 1 50 50 – – – – Mangaung Sun (Pty) Limited (1) 134 134 74 74 – – – – Meropa Casino Resort Manco (Pty) Limited (1) 1 1 50 50 – – – – Meropa Leisure and Entertainment (Pty) Limited (1) 38 38 71 71 – – – – National Casino Resort Manco Holdings (Pty) Limited (1) 2 2 83 83 14 14 – – Royale Resorts Holdings Limited** (7) 737 737 73 73 – – – – Sands Hotels Holdings (Namibia) (Pty) Limited (5) 1 1 100 100 – – – – SFI Resorts SA**** (9) 80 784 76 800 40 40 738 484 102 – Sun International Investments No. 2 Limited (1) – – 100 100 – – 1 115 1 115 Sun International of Lesotho (Pty) Limited (4) – – 47 47 – – – – Sun International (South Africa) Limited (1) 35 261 35 261 100 100 1 760 1 760 – – Sun International (Botswana) (Pty) Limited*** (2) 500 500 80 80 – – – – Sun International (Zambia) Limited** (8) 3 750 3 750 100 100 – – – – Sun International Inc (6/11) 1 580 1 580 100 100 687 687 – – Sun International Management Limited (7/11) 449 449 100 100 166 129 70 130 Sun International Travel (Pty) Limited# (1) – – 100 100 – – 5 5 SunWest International (Pty) Limited (1) 337 337 64 64 – – 275 274 Teemane (Pty) Limited (1) 28 28 78 77 – – – – Tourist Company of Nigeria Plc***** (10) 4 478 – 49 – 222 – 109 – Transkei Sun International Limited (1) 14 495 14 495 70 70 – – – – Western Cape Casino Resort Manco (Pty) Limited (1) – – 29 29 – – – – Wild Coast Sun Manco (Pty) Limited****** (1) 1 1 – 50 – – – – Winelands Casino Manco (Pty) Limited (1) – – 50 50 – – – – Worcester Casino (Pty) Limited (1) 1 1 47 47 – – – – Listed Swazispa Holdings Limited (3) 3 497 3 497 51 51 – – – – Real Africa Holdings Limited (1) 3 718 3 718 66 66 – – – – 2010 % 2009 % 2010 Rm 2009 Rm 2010 Rm 2009 Rm 3 587 3 074 1 832 1 694 * Country of incorporation. (1) South Africa (2) Botswana (3) Swaziland (4) Lesotho (5) Namibia (6) Panama (7) Bermuda (8) Zambia (9) Chile (10) Nigeria (11) Registered as an external company in South Africa. ** Amount of share capital is stated in US$. *** Amount of share capital stated in Botswana Pula. **** Amount of share capital stated in Chilean Pesos (millions). ***** Amount of share capital stated in Nigerian Naira. ****** Shareholding disposed at end of August 2009. # Loan to subsidiary subordinated by holding company.
Notice is hereby given that the twenty-sixth annual general meeting of members of Sun International Limited (the company) will be held on Thursday, 25 November 2010 at 09:00, in the boardroom, 4th Floor, 27 Fredman Drive, Sandown, Sandton, Gauteng, Republic of South Africa, for the following purposes, namely: 1. ORDINARY RESOLUTION NUMBER 1 – ADOPTION OF ANNUAL FINANCIAL STATEMENTS To receive and adopt the annual financial statements for the year ended 30 June 2010. 2. ORDINARY RESOLUTIONS NUMBERS 2.1 TO 2.6 – ELECTION AND RE-ELECTION OF DIRECTORS 2.1 & 2.2 To elect Ms ZBM Bassa and Ms BLM Makgabo-Fiskerstrand, as directors by way of separate resolutions, who retire in accordance with the provisions of article 53.3 of the provisions of the company’s articles of association, by virtue of their respective appointments being made pursuant to the last annual general meeting and are required to retire at this annual general meeting. Both Ms ZBM Bassa and Ms BLM Makgabo-Fiskerstrand, being eligible offer themselves for election. (Please refer to pages 10 and 11 of the annual report for a brief CV of each director standing for election. 2.3 – 2.6 To re-elect Messrs PL Campher and IN Matthews, Ms LM Mojela and Mr E Oblowitz, as directors by way of separate resolutions, who retire by rotation at this annual general meeting, in accordance with the provisions of articles 53.1 of the company’s articles of association. The directors, each being eligible, offer themselves for re-election. (Please refer to pages 10 and 11 of the annual report for a brief CV of each director standing for re-election) 3. ORDINARY RESOLUTION NUMBER 3 – NON-EXECUTIVE DIRECTORS’ FEES To approve the fees payable to the non-executive directors for their services as directors or as members of the committees in respect of the financial year ending 30 June 2011 as proposed in the remuneration report on page 136. 4. ORDINARY RESOLUTION NUMBER 4 – REMUNERATION POLICY To consider and endorse, by way of a non-binding advisory vote, the company’s remuneration policy as set out in the remuneration report on pages 127 to 136. 5. ORDINARY RESOLUTION NUMBER 5 – RE-APPOINTMENT OF INDEPENDENT EXTERNAL AUDITORS To re-appoint PricewaterhouseCoopers Inc. as independent auditors of the company to hold office until the conclusion of the next annual general meeting in accordance with the audit committee’s nomination, it being noted that Mr DB von Hoesslin is the individual registered auditor and member of the aforegoing firm who undertakes the audit. NOTICE OF ANNUAL GENERAL MEETING for the year ended 30 June 6. ORDINARY RESOLUTION NUMBER 6 – ELECTION OF AUDIT COMMITTEE MEMBERS To elect, by way of separate resolutions, the following independent non-executive directors, as members of the company’s audit committee: 6.1 Ms ZBM Bassa 6.2 Mr MP Egan 6.3 Mr DM Nurek 6.4 Mr E Oblowitz 6.5 Mr GR Rosenthal Brief CV’s of the independent non-executive directors offering themselves for election as members of the audit committee are set out on pages 10 and 11 of the annual report. SPECIAL BUSINESS: 7. ORDINARY RESOLUTION NUMBER 7 – AMENDMENTS TO SHARE PLANS To consider, and if deemed fit, to pass, with or without modification, the following ordinary resolution: ‘RESOLVED that, subject to approval by the JSE Limited: � � the Sun International Limited Equity Growth Plan 2005 be and is hereby amended in accordance with the Second Addendum to the Sun International Limited Equity Growth Plan 2005, the contents of which are available for inspection at the company’s registered office 21 days prior to the annual general meeting; � � the Sun International Limited Conditional Share Plan 2005 be and is hereby amended in accordance with the Second Addendum to the Sun International Limited Conditional Share Plan 2005 the contents of which are available for inspection at the company’s registered office 21 days prior to the annual general meeting; and � � the Sun International Limited Deferred Bonus Plan 2005 be and is hereby amended in accordance with the Second Addendum to the Sun International Limited Deferred Bonus Plan 2005 the contents of which are available for inspection at the company’s registered office 21 days prior to the annual general meeting.’ Reason for and effect of ordinary resolution number 7 The reason for ordinary resolution number 7 is to amend the rules of the share plans to comply with schedule 14 of the JSE’s Listings Requirements by: � � amending the existing provisions relating to the selection of employees who may participate in the share plans to comply with the new provisions of the JSE’s Listings Requirements; � � amending the existing provisions relating to the adjustments to be made to the number of shares allocated to a participant in the event of a rights issue, capitalisation issue, unbundling, corporate action or other event affecting the share capital of the company to comply with the new provisions of the JSE’s Listings Requirements; 205
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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
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The group’s governance is facilit
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The chief executive is mandated and
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Board meetings A minimum of four bo
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The audit committee is primarily re
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The committee has adopted a written
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The key risks that are identified,
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Internal control The board of direc
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The group has continued to actively
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Group 2010 2009 2008 2007 2006 2005
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Group statistics 2010 2009 2008 200
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Types of shareholders at 30 June 20
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principles of inclusivity, material
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The board and the remuneration comm
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Prior to the commencement of the re
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the travel and leisure sector that
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Share plan Date of grant Grant pric
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Emoluments Executive directors’ r
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for the year ended 30 June NOTES TO
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The annual financial statements whi
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TO THE MEMBERS OF SUN INTERNATIONAL
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HOLDING COMPANY The company has no
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which the entity operates (the func
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elating to certain firm commitments
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expenditure represents the total co
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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 161 and 162: for the year ended 30 June NOTES TO
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
Page 203 and 204: NOTES TO THE COMPANY FINANCIAL STAT
Page 205: NOTES TO THE COMPANY FINANCIAL STAT
Page 209 and 210: Litigation statement The directors
Page 211 and 212: SUN INTERNATIONAL LIMITED (Incorpor
Page 213 and 214: SUN INTERNATIONAL LIMITED Incorpora
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PDF 25 MB - Sun International | Investor Centre

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