for the year ended 30 September 2024
Tiger Brands Limited is registered and incorporated in the Republic of South Africa and is listed on the JSE Limited (‘JSE’), and A2X Markets. The Tiger Brands group, of which Tiger Brands Limited is the holding company, manufactures, markets and distributes everyday branded food and beverages. The financial results and position of the group and company are fully set out in the balance sheet, statement of comprehensive income, statement of cash flows and notes thereto.
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 section of the annual financial statements.
Having regard to the budgets and forecasts prepared for the forthcoming financial year, the directors believe that the group and company have sufficient financial resources to continue in operation for the foreseeable future and accordingly the annual financial statements have been prepared on a going concern basis. The directors have satisfied themselves that the group and company are in a sound financial position, and that sufficient borrowing facilities exist to meet any foreseeable cash requirements.
Information on subsequent events is outlined in note 38 to the annual financial statements.
The following movements in the directorate were recorded:
1 November 2023 Tjaart Kruger
1 January 2024 Thushen Govender
10 October 2023 Cora Fernandez
31 October 2023 Noel Doyle
31 December 2023 Deepa Sita
31 May 2024 Gail Klintworth
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:
2024 | 2023 | |||
---|---|---|---|---|
Name of director | Direct number of shares | Indirect number of shares |
Direct number of shares | Indirect number of shares |
TN Kruger* | – | 31 300 | – | – |
NP Doyle^ | – | – | 22 775 | – |
S Sithole** | – | 6 764 900 | – | 6 269 000 |
* | Cumulative number of shares held indirectly by The TNI Trust |
** | Cumulative number of shares held indirectly by Value Capital Partners |
^ | Resigned 31 October 2023 |
There were no changes to the direct and indirect beneficial interests of directors since 30 September 2024 to the approval date of the annual financial statements.
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. The directors are satisfied that all risks are adequately covered. Self-insurance programmes are in operation covering primary levels of risk at a cost more advantageous than open-market premiums.
Regular risk 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.