Page 49 - Niveus - Integrated report 2013

ANNUAL FINANCIAL STATEMENTS
Directorate and company secretary
The directors of the company appear on page 9 and the company secretary’s details are set out on pages 21 to 22. The following
changes to the board were effected subsequent to year-end:
Mr KI Mampeule was appointed on 10 April 2013; and
Mr MJA Golding resigned on 24 May 2013.
Details of directors’ shareholdings appear on page 11 and directors’ emoluments on page 27. As noted on page 27 of the
remuneration report, the executive directors are employed and incentivised by Johnnic Holdings Management Services Limited.
Share options on Niveus shares are granted by the administrator and details thereof are provided for disclosure purposes in the
annual financial statements available on the Niveus website.
Subsequent to year-end, on 4 July 2013, André van der Veen exercised 941 350 options at R6,16 per share and Muriel Loftie-
Eaton exercised 92 985 options at R6,11 per share.
In accordance with the company’s memorandum of incorporation, André van der Veen, John Copelyn and Dr Moretlo Molefi
retire by rotation at the forthcoming annual general meeting. The retiring directors, being eligible, offer themselves for re-election.
Going concern
The board considers the going concern status of the Niveus Group on a biannual basis with reference to the following:
net available funds and the liquidity thereof;
the following year’s forecast of profitability and cash flows; and
the Niveus Group’s current financial position.
The directors report that they have a reasonable expectation that the group has adequate resources to continue in operational
existence for the foreseeable future.
DIRECTORS’ REPORT
(
continued)
Niveus Investments Limited integrated Report 2013
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