Page 10 - Niveus - Integrated report 2013

group overview
Focus on growing and developing existing investments; and
Pursue investments with asymmetrical risk/reward profiles, where we can
leverage our management expertise and experience. No specific industries or
business profiles are targeted.
Niveus aims to increase shareholder value through:
Optimising value of established businesses
We aim to unlock value in existing investments by improving margins, growing
market share, and seeking operational efficiencies.
Organic expansion
We aim to expand our existing businesses by taking advantage of growth
opportunities, and leveraging distribution and system capacities to expand
market share.
Growing through strategic acquisitions
We aim to grow through strategic investments in business sectors with the
potential to produce free cash flow and to provide adequate risk-adjusted
returns on investments.
VukanI: 100%
Vukani Gaming Corporation Proprietary Limited (“Vukani”) is
a group of companies mainly engaged in offering limited
payout machine (“LPM”) gaming services. To date, the most
significant business within Vukani is that of VSlots, which
manages approximately 4 500 LPMs at third-party sites
throughout South Africa.
The LPM industry offers attractive investment prospects:
There are significant barriers to competitor entry:
stringent requirements and time delays in obtaining
licences; and
significant capital requirements to purchase and roll out
A large, dispersed number of site owners minimises concen-
tration risk.
A limited number of licences is available for each province.
For more information on Vukani, please go to
Niveus Investments Limited integrated Report 2013