The board of directors is responsible for the preparation
of financial statements, on a consistent basis and supported by
reasonable and prudent judgements and estimates, that fairly present
the state of affairs of the company and of the group in accordance
with South African Statements of Generally Accepted Accounting Practice.
The board is satisfied that adequate internal accounting controls
and systems are maintained, aimed at providing reasonable assurance
that assets are adequately safeguarded, based on established policies
and procedures implemented by competent personnel who are required
to maintain the highest ethical standards at all times. In the opinion
of the directors, the company and the group will continue as a going
concern for the foreseeable future.
The functions of the audit committee are conducted by the audit
committee of Trencor Limited.
The annual financial statements and group annual financial statements
for the year ended 30 June 2000, which have been approved by the
board of directors, are attached:
of changes in shareholders’ equity
to the financial statements
Signed on behalf of the board
C JOWELL CHAIRMAN
D M NUREK DIRECTOR
20 NOVEMBER 2000