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SUN INTERNATIONAL ANNUAL REPORT ’10 74 AT A GLANCE The SIEST gives all employees the opportunity to benefit when <strong>Sun</strong> <strong>International</strong> Limited and group companies declare dividends and ultimately when its share price performs well. Total distributions in the year were R17.4 million or R2 141 per employee. We were ranked 30th in the Financial Mail’s survey of the top 200 JSE-listed companies most empowered company survey. We committed to enterprise development by allocating 1.5% of profit after tax to this vital contribution to B-BBEE and by the appointment of a dedicated enterprise development manager. The group continued to invest 1% of profit after tax in socio-economic development projects and through its commitment maintained a full-points score of 5% (refer section 10 for further detail). 8. TRANSFORMATION We remain committed to the transformation of the South African economy through broad-based black economic empowerment as defined in the codes of good practice through ownership, management control, employment equity, skills development, preferential procurement, enterprise development and socio-economic development. WHAT WE ACHIEVED Total B-BBEE score of 72.3 resulting in a level 4 contributor, which was our stated target to achieve by this financial year. Category B-BBEE score target Ownership 20 21.4 21.7 Management 10 2.6 2.4 Employment equity 15 6.9 5.9 Skills development 15 10.0 7.9 Preferential procurement 20 11.4 11.3 Enterprise development 15 15.0 15.0 Socio-economic development 5 5.0 5.0 Overall 100 72.3 69.2 Sources: EmpowerDex and Financial Mail. Elsewhere in this report we refer to internally measured scores of various elements of the B-BBEE scorecard which may differ to the table above. 2010 score 2009 score As one of the largest leisure and gaming groups in southern Africa, we engage with 4 000 suppliers to provide us with various goods and services. Consolidated group preferential procurement score as at the end of June 2010 was 18.34 out of a maximum of 20 points. This is a significant improvement on the EmpowerDex score of 11.4. The profile is as follows: 1 Qualifying Small Enterprises and Exempted Micro Enterprises
OUR OBJECTIVES JOINT REPORT OF THE CHIEF EXECUTIVE AND CHIEF FINANCIAL OFFICER continued We have committed to achieve a level 3 contributor status in terms of the B-BBEE Codes by 2012 and level 2 contributor status by 2015. Our formal B-BBEE verification will be completed by March 2011. We will plan and vigilantly deploy systems that support enterprise-wide procurement and supply management business processes. We will implement the group supplier development programmes to create a pipeline for Enterprise Development (ED) beneficiaries within the supply chain and increase focus on identifying and introducing black women owned businesses into the ED programme. IN THIS SECTION: Introduction p76 Ownership p76 Management p79 Employment equity p79 Skills development p80 Preferential procurement p80 Enterprise development p82 Socio-economic development p83 75
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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
Page 25 and 26: Operational overview - Casinos and
Page 27 and 28: GrandWest JOINT REPORT OF THE CHIEF
Page 29 and 30: Gaming taxes by province and countr
Page 31 and 32: DIVIDENDS 1. SHAREHOLDER DELIVERY T
Page 33 and 34: JOINT REPORT OF THE CHIEF EXECUTIVE
Page 35 and 36: The Royal Livingstone 33
Page 37 and 38: AT A GLANCE 2. PROTECT OUR BUSINESS
Page 39 and 40: By the end of February, the number
Page 41 and 42: WILD COAST SUN The local community
Page 43 and 44: Our market share South Africa Gamin
Page 45 and 46: We estimate that the group’s shar
Page 47 and 48: Carnival City 45
Page 49 and 50: OUR OBJECTIVES IN THIS SECTION: JOI
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Page 55 and 56: AT A GLANCE WHAT WE ACHIEVED Final
Page 57 and 58: CAPITAL COMMITMENTS Capital commitm
Page 59 and 60: AT A GLANCE JOINT REPORT OF THE CHI
Page 61 and 62: CONCESSIONAIRES Our concessionaires
Page 63 and 64: AT A GLANCE IN THIS SECTION: JOINT
Page 65 and 66: In line with global trends for lead
Page 69 and 70: Beneficiaries of training 2010 Bene
Page 71 and 72: Training investment model JOINT REP
Page 73 and 74: JOB PROFILING Also forming part of
Page 75: Occupational hygiene and legionella
Page 79 and 80: The table below sets out the direct
Page 81 and 82: MANAGEMENT JOINT REPORT OF THE CHIE
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 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 and 124: Group statistics 2010 2009 2008 200
Page 125 and 126: 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
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GROUP STATEMENTS OF FINANCIAL POSIT
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Notes GROUP STATEMENTS OF CHANGES I
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for the year ended 30 June Operatin
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14. PROPERTY, PLANT AND EQUIPMENT (
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15. INTANGIBLE ASSETS (continued) S
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for the year ended 30 June 18. RETI
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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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