INTEGRATED ANNUAL REPORT FOR PHUTHUMA NATHI INVESTMENTS (RF) LIMITED

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104 Phuthuma Nathi Investments (RF) Limited
Integrated annual report 2018
Corporate governance review (continued)
Almost 90% (2017: 66%) of PN shareholders
have retained their holdings since the
inception of the scheme. In PN the number
of participants with holdings reduced from
85 668 to 83 690.
A total of 35 911 (2017: 3 412) PN
participants sold their entire holdings during
the year, while 4 869 (2017: 1 041) PN
participants sold part of their holdings. A total
of 841 (2017: 538) PN participants bought
additional shares during the year, while
1 871 (2017: 635) PN participants
bought shares for the first time. A total of
75 250 (2017: 83 444) PN participants chose
to retain their holdings with no purchase or
sale activity.
The income tax reference number for PN is
9349869157.
Operating and financial review
The financial results of the company are set
out on
Dividends
The board recommends an ordinary dividend
of 1 955,56 (prior year: 1 925,93) cents per
share. Dividend tax of 20% per share is
391,11 (prior year: 385,19) cents. Shareholders
will therefore receive a total net dividend of
1 564,45 (prior year:1 540,74) cents per share.
There is a large amount of dividends that have
not been paid to shareholders for whom we
have no contact details. The board appeals
to all shareholders who have not received
dividends to contact the company’s transfer
secretaries, Singular Systems
Directors, secretary and auditor
The directors of the company are listed on
next page. The registered address and postal
address for the secretary are the same as
those of the company as detailed on the
Carmen Koopman stepped down as
company secretary for Phuthuma Nathi
on 19 March 2018 to take up a new role in
MultiChoice Africa business. Rochelle
Gabriels, the MultiChoice South Africa
Proprietary Limited chief financial officer, has
been appointed in an acting position until the
board has appointed a permanent company
secretary.
The board has reviewed the qualifications,
experience and arm’s length relationship of
the company secretary and is satisfied
therewith.
Directors’ report (continued)
for the year ended 31 March 2018