ANNUAL FINANCIAL STATEMENTS 2023
For the year ended 30 September 2023
For the year ended 30 September 2023
For the year ended 30 September 2023
Details of authorised and issued share capital are set out in note 22 of the annual financial statements and in the statements of changes in equity.
Financial information concerning the principal subsidiaries, associates and investments of Tiger Brands Limited are set out in notes 16 and 35 of the annual financial statements.
Details of dividends declared and paid during the year are outlined in note 12 to the annual financial statements.
Details of the registered and beneficial shareholders of the company are outlined in the Shareholders' information of the annual financial statements.
The following movements in the directorate were recorded:
| Appointments | |
| 1 April 2023 | Sam Sithole |
| 1 November 2023 | Tjaart Kruger |
| Resignations | |
| 10 October 2023 | Cora Fernandez |
| 31 October 2023 | Noel Doyle |
| 31 December 2023 | Deepa Sita |
The names of the directors who presently hold office are set out in the integrated annual report.
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 as follows:
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Name of director | Direct number of shares |
Indirect number of shares |
Direct number of shares |
Indirect number of shares |
||
| NP Doyle | 22 775 | – | 12 775 | – | ||
| S Sithole* | – | 6 269 000 | – | – | ||
| * | Cumulative number of shares held indirectly by Value Capital Partners |
There were no changes to the direct and indirect beneficial interests of directors at 30 September 2023.
Details in respect of the pension asset and post-retirement medical aid obligations of the group are set out in notes 30 and 31 of the annual financial statements.
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 political risks in the case of which as much cover as is reasonably available has been arranged. 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.