GOVERNANCE AND SUSTAINABILITY

• Corporate governance report
• Group structure
• Sustainability report

• CORPORATE OVERVIEW
  • Vision and mission
  • Highlights and graphs
  • Four-year financial review
• COMMENTARY
  • Chairman’s Message
  • Chief Executive’s Review
  • Financial Director’s Report
  • Directorate and management
• GOVERNANCE AND SUSTAINABILITY
• ANNUAL FINANCIAL STATEMENTS
  • Directors' approval
  • Company secretary
  • Independent auditor's report
  • Directors' report
  • Income statements
  • Balance sheets
  • Group statement of changes in equity
  • Company statement of changes in equity
  • Cash flow statements
  • Notes

Group Structure

Grand Parade Investments

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*	Held 1,29% of GPI’s shares as at 30 June 2009, which eliminate on consolidation.
**	RAH has a 76,8% stake in Afrisun Leisure which in turn has a direct shareholding in Sibaya Casino, Carnival City and Boardwalk Casino. The percentages reflected above takes into account the minority stake in Afrisun Leisure.

1.	Worcester Casino GPI has a 36,7% interest in Worcester Casino. The group’s effective interest including the share held by RAH equals 38,96%.
2.	Utish Utish Investments (Pty) Limited (“Utish”) is a wholly-owned special purpose vehicle established to obtain preference share funding from Sanlam Capital Markets Limited (“Sanlam”).
3.	RAH This acquisition indirectly increased GPI’s investment in urban casinos.
4.	SunWest In July 2008 the group increased its direct economic interest in SunWest by 2,83% to 29,24%.
5.	BVI Business Venture Investments No. 575 (Pty) Limited (“BVI“) is a wholly-owned special purpose vehicle established to obtain preference share funding from The Standard Bank of South Africa Limited (“Standard Bank”) and Depfin Investments (Pty) Limited (“Depfin”).
6.	Akhona GPI GPI holds a 75% interest in Akhona GPI. Akhona GPI owns an 18,5% stake in Dolcoast, which in turn holds a 22,4% stake in Sibaya Casino in KwaZulu-Natal. It also owns a 30% interest in Thuo Gaming KZN.
7.	GPI Slots Through GPI Slots (Pty) Limited (“GPI Slots”), GPI owns a 25,1% interest in the LPM operations of Thuo Gaming WC.
8.	GPI Management Services GPI Management Services is a wholly-owned entity established to perform management services for the group and third parties. The company is a strategic component of the group’s longer-term vision.
9.	Grand Parade Share Incentive Trust The GPSIT was established based on the approval received by the shareholders in the annual general meeting on 9 December 2008. The trust was established as an incentive scheme. On 30 June 2009 the trust purchased 7,6 million of GPI’s shares. 1,78 million shares were issued to executive management on 30 June 2009. The balance is available for future issues to staff members.
10.	National Manco GPI holds a 5,67% shareholding in National Casino Resort Management Company (Pty) Limited (“National Manco”) and this investment is classified as available-forsale.
11.	Western Cape Manco GPI owns 50% of Western Cape Manco. This investment is accounted for as a joint venture. The group’s effective interest including the share held by RAH equals 57,08%.