Notes to the company annual financial statements
for the period ended 30 June 2011




     
    Notes  Company
2011
R million

1.

Investment in subsidiaries

   
  Shares at cost    4 764 
  Non cumulative non redeemable preference shares    802 
  Investment in subsidiaries    5 566 
  The non cumulative non redeemable preference shares pay dividends at a rate of 75% of the prime     
  interest rate.     
  Directors’ valuation:     
  Unlisted    7 754 
       
    Number 
  Name of company  of shares  of equity 
  OUTsurance Holdings Limited1,2  3 168 450 800  92,8 
  RMBSI Investments (Pty) Limited1  200 000 000  80,5 
  1. After consolidation of share trust.     
  2. Half of investment in OUTsurance Holdings Limited held directly and half held via Firness International (Pty) Limited. 

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