Basis of preparation of results

The accompanying summarised financial results for the six months ended 31 December 2011 reflect:

The summarised financial results for the six months ended 31 December 2011 were prepared in accordance with:

The accounting policies applied in the preparation of the summarised financial results for the six months ended 31 December 2011 are consistent with those applied in the previous financial reporting period ended 30 June 2011.

There is no comparative financial information for the six months ended 31 December 2010, as the effective date for the transfer of RMI Holdings’ investments from RMBH was 1 March 2011. Therefore the information provided for the period ended 30 June 2011 effectively includes income from the underlying investments for the four months ended 30 June 2011, which represented the first financial reporting period of RMI Holdings.

The results are unaudited and have been prepared under the supervision of Peter Cooper CA(SA).