Annual financial statements
Statutory information
for the year ended 30 September 2018
Authorised and issued share capital
Details of authorised and issued share capital are set out in note 20 on the annual financial statements and in the statements of changes in equity.
Subsidiaries, associates and investments
Financial information concerning the principal subsidiaries, associates and investments of Tiger Brands Limited are set out in Annexure A and B of the annual financial statements.
Dividends
Details of dividends declared and paid during the year are outlined in note 10 to the annual financial statements.
Major shareholders
Details of the registered and beneficial shareholders of the company are outlined here of the integrated annual report.
Directors
The following movements in the directorate were recorded during the year under review:
Appointments |
|
| 16 August 2018 | Gail Klintworth |
Resignations |
|
| 24 November 2017 | Santie Botha |
| 20 February 2018 | Clive Vaux |
| 15 August 2018 | Swazi Tshabalala |
| 7 September 2018 | Rob Nisbet |
| 22 November 2018 | Yunus Suleman |
The names of the directors who presently hold office are set out on pages 62 and 63 of the integrated annual report.
No director holds 1% or more of the ordinary shares of the company. The directors of the company beneficially hold, directly and indirectly, 4 950 ordinary shares of its issued ordinary shares.
The register of interests of directors in shares of the company is available to the members on request.
Details of the directors' shareholding (direct and indirect beneficial) are reflected below.
| 2018 | 2017 | |||||
| Name of director | Direct number of shares |
Indirect number of shares |
Direct number of shares |
Indirect number of shares |
||
|---|---|---|---|---|---|---|
| SL Botha | n/a | n/a | 1 221 | – | ||
| NP Doyle | 4 950 | – | 4 950 | – | ||
There were no changes to the direct and indirect beneficial interests of directors from 30 September 2018 to the date the integrated annual report was released.
American Depository Receipt facility
With effect from 9 September 1994, a sponsored American Depository Receipt (ADR) facility was established. This ADR facility is sponsored by the Bank of New York Mellon and details of the administrators are reflected under company information.
Special resolutions
No special resolutions were passed during the year under review that would have affected the capital structure, borrowing powers or any other material matter that affects the understanding of the group.
Pension and post-retirement medical aid obligations
Details in respect of the pension and post-retirement medical aid obligations of the group are set out in notes 28 and 29 and Annexure E and F of the annual financial statements.
Insurance and risk management
The group's practice regarding insurance includes an annual assessment, in conjunction with the group's insurance brokers, of the risk exposure relative to assets and possible liabilities arising from business transactions. In addition, the group's insurance programme is monitored by the risk and sustainability committee.
All risks are considered to be adequately covered, except for political risks in the case of which as much cover as is reasonably available has been arranged. In respect of the group's assets programme, cover of R6 billion per individual loss is purchased. Self-insurance programmes are in operation covering primary levels of risk at a cost more advantageous than open-market premiums. Regular risk management audits are conducted by the group's risk management consultants, whereby improvement areas are identified and resultant action plans implemented accordingly. Assets are insured at current replacement values.