NOTES TO THE CONDENSED FINANCIAL STATEMENTS

 
 
1. These consolidated condensed financial statements are prepared in accordance with South African Statements of Generally Accepted Accounting Practice. The accounting policies used in the preparation of the financial statements are consistent with those used in the annual financial statements for the year ended 31 December 2002.
  REVIEWED
2003
AUDITED
2002
R MILLION
2. Revenue
Finance income 12,1 19,6
    12,1 19,6
3. Exceptional item
Loss on dilution of interest in associate (0,6)
    (0,6)
4. Headline loss  
Net loss attributable to shareholders (46,5) (175,0)
Exceptional items (note 3) 0,6
Attributable share of headline earnings adjustments of associate company (31,7) 11,4
Headline loss (77,6) (163,6)
Weighted average number of shares in issue (million) 897,8 897,8
Headline loss per share (cents) (8,6) (18,2)
The dilution would arise as a result of any future conversion of convertible debentures. The directors are of the opinion that the debentures will not be converted in the foreseeable future and therefore no dilution is anticipated for the foreseeable future. No dilutive effect has been presented as this would be anti-dilutive.
5. Current assets 
Accounts receivable  1,1 13,8
Amount owing by affiliated company  0,4 2,3
Cash and cash equivalents  9,6 5,1
11,1 21,2
6. Current liabilities 
Accounts payable  0,8 0,9
Taxation  1,6 1,6
Current portion of interest-bearing borrowings  - 8,6
  2,4 11,1