Wrap Text
AngloGold Limited - Group results for the quarter ended 31 March 2003
AngloGold Limited
Registration No. 1944/017354/06
Incorporated in the Republic of South Africa
ISIN: ZAE000043485
JSE Share code: ANG
Report to shareholders
Group results for the quarter ended 31 March 2003...
* Operating results on target but lower than previous two quarters
* Operating profit down 6% to $146m, largely due to anticipated reduced grades
and to stronger currencies other than US$ in operating regions
* Higher exploration expenditure and a higher effective tax rate reduce headline
earnings to $74m
* Production down 9% to 1.4Moz with lower grades
* Received gold price up 10% to $344/oz
* Total cash costs up 21% to $210/oz - largely due to the stronger currencies,
other than US$, and lower grade
* Further 9% reduction to the hedge book
Quarter Quarter Year Quarter Quarter Year
ended ended ended ended ended ended
March Dec Dec March Dec Dec
2003 2002 2002 2003 2002 2002
Rand / Metric Dollar / Imperial
Gold
Produced - kg/ 43,605 48,168 184,711 1,402 1,549 5,939
oz (000)
Price
received - $/oz
/ R/kg 91,962 96,911 101,817 344 314 303
Total cash
costs - $/oz
/ R/kg 56,100 53,457 54,037 210 173 161
Total
production
costs - $/oz
/ R/kg 66,520 68,159 68,241 248 220 203
Operating
profit - $
/R million 1,208 1,758 6,784 145 184 650
Operating
profit
excluding
unrealized
non-hedge
derivatives - $
/ R million 1,216 1,478 6,683 146 155 638
Net profit - $
/ R million 547 955 3,444 66 100 332
Headline
earnings - $
/ R million 605 1,021 3,920 73 107 376
Headline earnings before
unrealised
non-hedge
derivatives - $
/ R million 614 858 3,854 74 90 368
Capital
expenditure - $
/ R million 489 880 2,842 59 89 271
Net earnings
(basic) - cents
per share 246 430 1,552 30 45 150
Headline
earnings - cents
per share 272 460 1,767 33 48 169
Headline
earnings
before unrealised
non-hedge
derivatives - cents
per share 276 387 1,737 33 41 166
Dividends - cents
per share 1,350 146
Note:
All references to price received includes the realised non-hedge derivative
gains (losses)
$ represents US dollar, unless otherwise stated
Letter from
Chairman and CEO
Dear Shareholder
The first quarter of 2003 was notable for operating results which were on tar
These effects were at least partially offset by a 10% increase in the receive
Looking ahead to the rest of this year, we anticipate that the currencies in
We continued to reduce the company"s net hedge position this quarter, as the
Following the publication by the South African Government of the Money Bill i
Russell Edey Bobby Godsell
29 April 2003
Operations at a glance
for the quarter ended 31 March 2003
Price Total cash Operating
received Prodution costs EBITDA profit
% % % % %
$/oz Vaian- oz Vaian- $/oz Vaian- $m Vaian- $m Vaian-
ce ** (000) ce ** ce ** ce ** ce **
Great Noligwa 345 12 182 (11) 205 35 27 (18) 25 (17)
Morila* 339 7 95 (27) 84 8 24 (29) 18 (28)
TauTona 342 11 152 (10) 183 29 23 (21) 22 (19)
Cerro
Vanguardia* 333 (1) 60 (9) 120 11 15 (12) 9 (18)
Mponeng 340 12 122 (4) 217 17 14 (7) 10 43
Morro Velho 380 16 53 (2) 127 6 14 27 11 38
Kopanang 345 12 125 (9) 239 29 13 (13) 12 (8)
Sunrise Dam 374 13 95 6 198 3 13 63 8 100
Cripple Creek
& Victor* 324 (2) 63 (17) 188 6 9 (25) 1 (80)
Tau Lekoa 345 11 81 (6) 247 - 7 (30) 6 (14)
Sadiola* 356 9 40 (17) 207 1 6 20 4 100
Serra Grande* 377 16 24 9 93 (1) 6 20 5 25
Geita* 308 7 64 5 217 - 5 25 3 200
Navachab 347 9 18 (14) 238 42 4 - 4 33
Yatela* 355 9 21 (28) 204 1 3 (25) 2 -
Jerritt Canyon* 324 (1) 51 (19) 270 22 2 (67) (3) (400)
Ergo 334 9 57 (14) 287 41 1 (67) 1 (67)
Union Reefs 372 17 19 (32) 389 59 (1) (100) (1) (100)
Savuka 343 12 48 - 399 25 (3) (100) (3) (100)
Other - - 32 33 - - (12) (100) 12 200
AngloGold Group 344 10 1,402 (9) 210 21 170 (15) 146 (6)
* Attributable
** Variance March 2003 quarter on December 2002 quarter
Review of the gold market
The year-end surge in the gold price carried through into the first quarter o
The rand benefited both from the weaker dollar and from positive sentiment to
During the quarter under review, the gold price was influenced most directly
Speculators continued to increase their long positions in gold during the fir
As far as the impact of the conflict in Iraq is concerned, it would seem that
The physical market for the metal remains weak, and 2002 was a disappointing
At 31 March 2003, the net hedge position of AngloGold was 9.34Moz, almost 1Mo
Hedge position
As at 31 March 2003, the group had outstanding, the following forward-pricing
The marked-to-market value of all hedge transactions making up the hedge posi
As at 29 April 2003, the marked-to-market value of the hedge book was a negat
These marked-to-market valuations are in no way predictive of the future valu
Year 2003 2004 2005 2006
DOLLAR GOLD
Forward
contracts Amount (kg) 7,899 16,811 26,576 19,862
$ per oz $302 $311 $324 $333
Put options
purchased Amount (kg) 1,515 3,906 757 563
$ per oz $368 $376 $291 $291
*Delta (kg) 893 2,387 147 108
Put options
sold Amount (kg) 18,849 10,264
$ per oz $324 $339
*Delta (kg) 6,556 4,313
Call options purchased Amount (kg) 3,455 572
$ per oz $355 $360
*Delta (kg) 1,291 237
Call options sold Amount (kg) 23,962 8,006 16,360 14,681
$ per oz $350 $334 $322 $329
*Delta (kg) 9,638 4,696 10,811 9,562
RAND GOLD
Forward contracts Amount (kg) 12,596 11,076 9,078 6,335
Rand per oz R79,777 R94,277 R116,891 R108,426 P
Rand per oz R93,602 R93,602 R93,602 R93,602
*Delta (kg) 893 606 460 356
Put options sold Amount (kg)
Rand per oz
*Delta (kg)
Call options purchased Amount (kg)
Rand per oz
*Delta (kg)
Call options sold Amount (kg) 10,912 4,688 4,687 4,688
Rand per oz R100,545 R115,284 R131,944 R132,647
*Delta (kg) 2,285 1,604 1,747 2,110
A DOLLAR GOLD
Forward contracts Amount (kg) 12,224 5,443 6,221 9,331
A$ per oz A$523 A$544 A$674 A$652
Put options purchased Amount (kg)
A$ per oz
*Delta (kg)
Put options sold Amount (kg) 1,866
A$ per oz A$556
*Delta (kg) 796
Call options purchased Amount (kg) 3,888 3,110 6,221
A$ per oz A$701 A$724 A$673
*Delta (kg) 382 883 2,990 C
A$ per oz A$661
*Delta (kg) 840
Total net gold: Delta (kg) 38,242 38,073 54,157 44,674
Delta (oz)1,229,518 1,224,062 1,741,189 1,436,314
2007 2008-2012 Total
DOLLAR GOLD
Forward Amount (kg) 18,974 25,878 116,00
Put options $ per oz $337 $355 $331
purchased Amount (kg) 728 7,469
$ per oz $292 $351
Put options
sold *Delta (kg) 134 3,669
Amount (kg) 29,113
$ per oz $330
*Delta (kg) 10,869
Call options purchased Amount (kg) 4,027
$ per oz $356
*Delta (kg) 1,528
Call options sold Amount (kg) 14,308 54,245 131,562
$ per oz $336 $363 $347
*Delta (kg) 9,327 35,319 79,353
RAND GOLD
Forward contracts Amount (kg) 4,541 3,732 47,358
Rand per oz R114,915 R119,580 R100,621
Put options purchased Amount (kg) 7,500
Rand per oz R93,602
*Delta (kg) 2,315
Put options sold Amount (kg)
Rand per oz
*Delta (kg)
Call options purchased Amount (kg)
Rand per oz
*Delta (kg)
Call options sold Amount (kg) 2,986 11,944 39,905
Rand per oz R173,119 R209,288 R147,714
*Delta (kg) 721 3,625 12,092
A DOLLAR GOLD
Forward contracts Amount (kg) 8,398 13,343 54,960
A$ per oz A$623 A$639 A$607
Put options purchased Amount (kg)
A$ per oz
*Delta (kg)
Put options sold Amount (kg) 1,866
A$ per oz A$556
*Delta (kg) 796
Call options purchased Amount (kg) 3,732 11,197 28,148
A$ per oz A$668 A$702 A$693
*Delta (kg) 1,981 6,633 12,869
Call options sold Amount (kg) 5,599
A$ per oz A$661
*Delta (kg) 840
Total net gold: Delta (kg) 40,114 75,264 290,525
Delta (oz) 1,289,706 2,419,789 9,340,579
The following table indicates the group"s currency hedge position at
31 March 2003
Year 2003 2004 2005 2006
RAND DOLLAR (000)
Call Options Amount
purchased ($)
Rand per
$
*Delta($)
Call options Amount 20,000
sold (kg)
Rand per R8.36
$
*Delta($) 2,568
A DOLLAR (000)
Forward contracts Amount 29,428 29,275 10,847
($)
$ per A $ A$0.59 A$0.59 A$0.51
2007 2008-2012 Total
Call Options Amount
purchased ($)
Rand per
$
*Delta($)
Call options Amount 20,000
sold (kg)
Rand per R8.36
$
*Delta($) 2,568
A DOLLAR (000)
Forward contracts Amount
($)
$ per A $ A$0.58
* The Delta position indicated above reflects the nominal amount of the option m
GROUP INCOME STATEMENT
Quarter Quarter Year
ended ended ended
March December December
SA Rand million 2003 2002 2002
Gold income 3,938 4,814 18,372
Cost of sales (2,885) (3,341) (12,550)
Cash operating costs 2,378 2,506 9,812
Other cash costs 70 90 291
Total cash costs 2,448 2,596 10,103
Retrenchment costs 3 - 30
Rehabilitation and other non-cash costs 24 74 119
Production costs 2,475 2,670 10,252
Amortisation of mining assets 449 657 2,566
Total production costs 2,924 3,327 12,818
Inventory change (39) 14 (268)
1,053 1,473 5,822
Non-hedge derivatives 155 285 962
Operating profit* 1,208 1,758 6,784
Corporate administration and other expenses (85) (73) (258)
Market development costs (40) (45) (179)
Exploration costs (75) (63) (296)
Interest receivable 71 84 373
Other net expense (31) (36) (91)
Finance costs (69) (100) (464)
Abnormal item - settlement of claim - - (102)
Profit before exceptional items 979 1,525 5,767
Amortisation of goodwill (58) (67) (293)
Loss on disposal of assets - (6) (145)
Termination of retirement benefit plans - (1) 2
Profit on ordinary activities before taxation 921 1,451 5,331
Taxation (338) (447) (1,730)
Normal taxation (245) (211) (1,315)
Deferred taxation (92) (127) (387)
Deferred tax on unrealised non-hedge derivatives (1) (117) (35)
Taxation on abnormal item - - 47
Taxation on exceptional items - 8 (40)
Profit on ordinary activities after taxation 583 1,004 3,601
Minority interest (36) (49) (157)
Net profit 547 955 3,444
*Operating profit excluding unrealised
non-hedge derivatives 1,216 1,478 6,683
Headline earnings
The net profit has been adjusted by
the following to arrive at
headline earnings:
Net profit 547 955 3,444
Amortisation of goodwill 58 67 293
Loss on disposal of assets - 6 145
Termination of retirement benefit plans - 1 (2)
Taxation on exceptional items - (8) 40
Headline earnings 605 1,021 3,920
Unrealised non-hedge derivatives 8 (280) (101)
Deferred tax on unrealised non-hedge derivatives 1 117 35
Headline earnings before unrealised non-hedge
derivatives 614 858 3,854
Earnings per ordinary share - cents
-Basic 246 430 1,552
-Headline 272 460 1,767
-Headline before unrealised non-hedge
derivatives 276 387 1,737
Dividends
-Rm 3,009
-cents per share 1,350
The results have been prepared in accordance with International Accounting Stand
GROUP INCOME STATEMENT
Quarter Quarter Year
ended ended ended
March December December
US Dollar million 2003 2002 2002
Gold income 472 502 1,761
Cost of sales (346) (348) (1,203)
Cash operating costs 286 261 939
Other cash costs 8 9 28
Total cash costs 294 270 967
Retrenchment costs - - 3
Rehabilitation and other non-cash costs 3 8 12
Production costs 297 278 982
Amortisation of mining assets 54 68 245
Total production costs 351 346 1,227
Inventory change (5) 2 (24)
126 154 558
Non-hedge derivatives 19 30 92
Operating profit * 145 184 650
Corporate administration and other expenses (10) (8) (25)
Market development costs (5) (5) (17)
Exploration costs (9) (6) (28)
Interest receivable 8 9 36
Other net expense (3) (4) (9)
Finance costs (8) (11) (44)
Abnormal item - settlement of claim - - (10)
Profit before exceptional items 118 159 553
Amortisation of goodwill (7) (7) (28)
Loss on disposal of assets - (1) (13)
Termination of retirement benefit plans - - -
Profit on ordinary activities before taxation 111 151 512
Taxation (41) (46) (165)
Normal taxation (29) (22) (124)
Deferred taxation (12) (13) (39)
Deferred tax on unrealised non-hedge derivatives - (12) (4)
Taxation on abnormal item - - 5
Taxation on exceptional items - 1 (3)
Profit on ordinary activities after taxation 70 105 347
Minority interest (4) (5) (15)
Net profit 66 100 332
*Operating profit excluding unrealised
non-hedge derivatives 146 155 638
Headline earnings
The net profit has been adjusted
by the following to arrive at
headline earnings:
Net profit 66 100 332
Amortisation of goodwill 7 7 28
Loss on disposal of assets - 1 13
Termination of retirement benefit plans - - -
Taxation on exceptional items - (1) 3
Headline earnings 73 107 376
Unrealised non-hedge derivatives 1 (29) (12)
Deferred tax on unrealised non-hedge derivatives - 12 4
Headline earnings before unrealised
non-hedge derivatives 74 90 368
Earnings per ordinary share - cents
-Basic 30 45 150
-Headline 33 48 169
-Headline before unrealised non-hedge
derivatives 33 41 166
Dividends
-$m 325
-cents per share 146
The results have been prepared in accordance with International Accounting Stand
GROUP BALANCE SHEET
March December March December
2003 2002 2003 2002
SA Rand million US Dollar million
Non-current assets
18,902 19,555 Mining assets 2,394 2,280
3,023 3,210 Goodwill 383 374
156 165 Investments in associates 20 19
182 197 Other investments 23 23
AngloGold Environmental
286 275 Rehabilitation Trust 36 32
596 549 Derivatives 75 64
469 466 Other non-current assets 59 55
23,614 24,417 2,990 2,847
Current assets
2,162 1,996 Derivatives 274 233
2,107 2,190 Trade and other receivables 267 255
1,818 1,848 Inventories 230 216
Current portion of other
3 3 non-current assets - -
2,686 3,544 Cash and cash equivalents 340 413
8,776 9,581 1,111 1,117
32,390 33,998 Total assets 4,101 3,964
EQUITY AND LIABILITIES
11,717 12,375 Shareholders" equity 1,484 1,443
325 347 Minority interests 41 40
12,042 12,722 1,525 1,483
Non-current liabilities
6,643 7,219 Borrowings 841 842
1,977 2,008 Provisions 250 234
3,767 3,445 Deferred taxation 477 402
1,398 2,028 Derivatives 177 236
13,785 14,700 1,745 1,714
Current liabilities
2,472 2,588 Derivatives 313 302
2,205 2,145 Trade and other payables 279 250
616 719 Current portion of borrowings 78 84
1,270 1,124 Taxation 161 131
6,563 6,576 831 767
32,390 33,998 Total equity and liabilities 4,101 3,964
The results have been prepared in accordance with International Accounting Stand
GROUP CASH FLOW STATEMENT
Quarter Quarter Year
ended ended ended
March Dec Dec
2003 2002 2002
SA Rand million
Cash flows from operating activities
Cash generated from operations 1,477 2,106 8,255
Interest received 62 73 331
Environmental contributions and expenditure (50) (64) (169)
Dividends received from associates 9 - 19
Finance costs (86) (77) (410)
Taxation paid (81) (444) (1,376)
Net cash inflow from operating activities 1,331 1,594 6,650
Cash flows from investing activities
Capital expenditure (488) (880) (2,842)
Proceeds from disposal of mining assets - - 11
Net proceeds from disposal of mines - - 1,544
Proceeds - - 1,813
Contractual obligations - - (269)
Investments acquired - - (355)
Proceeds from sale of investments - - 1,829
Acquisition of subsidiary - - (979)
Loans advanced (2) (2) (51)
Repayment of loans advanced - 24 175
Net cash outflow from investing activities (490) (858) (668)
Cash flows from financing activities
Proceeds from issue of share capital 17 67 156
Share issue expenses (1) - (116)
Proceeds from borrowings 73 80 8,599
Dividends paid (1,522) (29) (2,821)
Net cash outflow from financing activities (1,541) (332) (3,971)
Net (decrease) increase in cash and cash
equivalents (700) 404 2,011
Translation (158) (505) (751)
Opening cash and cash equivalents 3,544 3,645 2,284
Closing cash and cash equivalents 2,686 3,544 3,544
The results have been prepared in accordance with International Accounting
Standards.
GROUP CASH FLOW STATEMENT
Quarter Quarter Year
ended ended ended
March Dec Dec
2003 2002 2002
US Dollar million
Cash flows from operating activities
Cash generated from operations 181 189 758
Interest received 7 8 32
Environmental contributions and expenditure (6) (6) (6)
Dividends received from associates 1 - 2
Finance costs (10) (8) (40)
Taxation paid (10) (45) (131)
Net cash inflow from operating activities 163 138 605
Cash flows from investing activities
Capital expenditure (59) (89) (271)
Proceeds from disposal of mining assets - - 1
Net proceeds from disposal of mines - - 140
Proceeds - - 164
Contractual obligations - - (24)
Investments acquired - - (34)
Proceeds from sale of investments - - 158
Acquisition of subsidiary - - (97)
Loans advanced - - (5)
Repayment of loans advanced - 3 17
Net cash outflow from investing activities (59) (86) (91)
Cash flows from financing activities
Proceeds from issue of share capital 2 10 18
Share issue expenses - - (11)
Proceeds from borrowings 9 9 798
Repayment of borrowings (13) (47) (912)
Dividends paid (185) (3) (260)
Net cash outflow from financing activities (187) (31) (367)
Net (decrease) increase in cash and cash
equivalents (83) 21 147
Translation 10 46 75
Opening cash and cash equivalents 413 346 191
Closing cash and cash equivalents 340 413 413
The results have been prepared in accordance with International Accounting Stand
NOTES TO THE CASH FLOW STATEMENT
Quarter Quarter Year Quarter Quarter Year
ended ended ended ended ended ended
March Dec Dec March Dec Dec
2003 2002 2002 2003 2002 2002
SA Rand million US Dollar million
Cash generated from operations
921 1,451 5,331 Profit on ordinary activities 111 151 512
before taxation
Adjusted for:
(58) (40) (187) Non-cash movements (7) (4) (18)
449 657 2,566 Amortisation of mining assets 54 68 245
(71) (84) (373) Interest receivable (8) (9) (36)
44 7 (6) Other net income (expense) 5 1 -
69 100 464 Finance costs 8 11 44
11 (311) (132) Movement on non-hedge derivatives 1 (33) (16)
58 67 293 Amortisation of goodwill 7 7 28
- 6 92 Loss on disposal of assets - 1 8
Termination of retirement benefit
- 1 (2) plans - - -
54 252 209 Movement in working capital 10 (4) (9)
1,477 2,106 8,255 181 189 758
Movement in working capital:
(Increase) decrease in trade
84 248 488 and other receivables (11) (7) (5)
(Increase) decrease in
30 338 85 inventories (15) (9) (54)
Increase (decrease) in trade
(60) (334) (364) and other payables 36 12 50
54 252 209 10 (4) (9)
STATEMENT OF CHANGES IN SHAREHOLDERS" EQUITY
Non- Other
Ordinary distri- Foreign compre- Retained
share butable currency hensive earnings Total
capital and reserves translation income
premium
US Dollar million
Balance at
31 December 2002 1,120 16 43 (185) 449 1,443
Movements on other
comprehensive income 83 - 83
Net profit 66 66
Dividends paid (183) (183)
Ordinary shares issued 2 2
Translation 97 1 (52) (8) 35 73
Balance at
31 March 2003 1,219 17 (9) (110) 367 1,484
SA Rand million
Balance at
31 December 2002 9,607 138 360 (1,583) 3,853 12,375
Movements on other
comprehensive income 629 629
Net profit 547 547
Dividends paid (1,500) (1,500)
Ordinary shares issued 16 16
Translation (435) 84 1 (350)
Balance at
31 March 2003 9,623 138 (75) (870) 2,901 11,717
The results have been prepared in accordance with International Accounting Stan
Notes
The results included herein for the quarter ended 31 March 2003, which are un
1. During the quarter, 139,632 ordinary shares were allotted in terms of the Ang
2. Orders placed and outstanding on capital contracts as at 31 March 2003 totall
3. Although AngloGold holds a 66.7% interest in Cripple Creek & Victor Gold Mini
4. During the quarter, AngloGold made the following announcements:
4.1 On 13 March 2003, AngloGold announced that its wholly-owned subsidiary, Angl
4.2 On 7 April 2003, the Jerritt Canyon Joint Venture partners, AngloGold and Me
4.3 On 8 April 2003, AngloGold announced that it had reached agreement with Heli
5. Dividend: Final dividend No. 93 of 675 South African cents per ordinary shar
6. This report contains a summary of the results of AngloGold"s operations. A d
By order of the board
R P EDEY R M GODSELL
Chairman Chief Executive Officer
29 April 2003
SHAREHOLDERS" DIARY
Financial year-end 31 December 2002
Annual financial statements posting date 27 March 2003
Annual general meeting 11:00 30 April 2003
Quarterly Reports released
Quarter ended 31 March 2003 30 April 2003
Quarter and six months ended 30 June 2003 31 July 2003
Quarter and nine months ended 30 September 2003 31 October 2003
Quarter and year ended 31 December 2003 30 January 2004
Dividends
Dividend number Last date
to trade
ordinary shares Payment date Payment date
Declared cum dividend to shareholders to ADS holders
Final - No.93 30 Jan 2003 14 Feb 2003 28 Feb 2003 10 March 2003
Interim - No.94 30 Jul 2003* 15 Aug 2003* 29 Aug 2003* 12 Sept 2003*
Final - No.95 29 Jan 2004* 13 Feb 2004* 27 Feb 2004* 12 March 2004*
* Approximate dates
Visit AngloGold"s website for updated information.
AngloGold Fund supports Ginsberg Primary School - A school providing exemplary e
AngloGold"s social investment vehicle in South Africa is The AngloGold Fund w
An independent school situated in Ginsberg, King William"s Town, Ginsberg Pri
While pupils are given a sound grounding in their school subjects by a staff
What makes the achievements of Ginsberg Primary so noteworthy is that the sch
But all of that has changed for Ginsberg Primary now boasts a new double-stor
Mr Kachoka commented: "The new building is a beacon of hope to those of us in
And it is not only the pupils of the school who will benefit from the additio
The township of Ginsberg is the birthplace and final resting place of Black C
Administrative Information
Contacts
South Africa
Steve Lenahan
Telephone: +27 11 637 6248
Fax: +27 11 637 6247
E-mail: slenahan@anglogold.com
Peta Baldwin
Telephone: +27 11 637 6647
Fax: +27 11 637 6399
E-mail: pbaldwin@anglogold.com
Europe / Asia
Tomasz Nadrowski
Telephone: +1 212 750 7999
Fax: +1 212 750 5626
E-mail: tnadrowski@anglogold.com
United States of America
Charles Carter
Telephone: (800) 417 9255 (toll free in USA and Canada)
or +1 212 750 7999
Fax: +1 212 750 5626
E-mail: cecarter@anglogold.com
Australia
Andrea Maxey
Telephone: +61 8 9425 4604
Fax: +61 8 9425 4662
E-mail: amaxey@anglogold.com.au
General E-mail enquiries
investors@anglogold.com
AngloGold website
http://www.anglogold.com
Global BuyDIRECT sm
The Bank of New York maintains a direct share purchase and dividend reinvestm
For additional information, please visit The Bank of New York"s website at ww
or call Shareholder Relations Department at
1-888-BNY-ADRS or write to:
The Bank of New York
Church Street Station
PO Box 11258
New York, NY 10286-1258
United States of America
Directors
Executive
R M Godsell (Chief Executive Officer)
J G Best
D L Hodgson
K H Williams
Non-Executive
R P Edey* (Chairman)
Dr T J Motlatsi (Deputy Chairman)
F B Arisman#
Mrs E le R Bradley
C B Brayshaw
Dr V K Fung#
A W Lea (Alternate: P G Whitcutt)
W A Nairn (Alternate: A H Calver*)
J Ogilvie Thompson (Alternate: D D Barber)
N F Oppenheimer
A J Trahar
*British #American
Offices
Registered and Corporate
Managing Secretary
Ms Y Z Simelane
Company Secretary
C R Bull
11 Diagonal Street
Johannesburg 2001
(PO Box 62117, Marshalltown 2107)
South Africa
Telephone: +27 11 637 6000
Fax: +27 11 637 6624
Australia
Level 13, St Martins Tower
44 St George"s Terrace
Perth, WA 6000
(PO Box Z5046, Perth WA 6831)
Australia
Telephone: +61 8 9425 4604
Fax: +61 8 9425 4662
United Kingdom Secretaries
St James"s Corporate Services Limited
6 St James"s Place
London SW1A 1NP
England
Telephone: +44 20 7499 3916
Fax: +44 20 7491 1989
Share Registrars
South Africa
Computershare Investor Services Limited
Ground Floor
70 Marshall Street
Johannesburg 2001
(PO Box 61051, Marshalltown 2107)
South Africa
Telephone: +27 11 370 7700
Fax: +27 11 688 7719
United Kingdom
Computershare Investor Services PLC
P O Box 82
The Pavilions
Bridgwater Road
Bristol BS99 7NH
England
Telephone: +44 870 702 0001
Fax: +44 870 703 6119
Australia
Computershare Investor Services Pty Limited
Level 2, 45 St George"s Terrace
Perth, WA 6000
(GPO Box D182 Perth, WA 6840)
Australia
Telephone: +61 8 9323 2000
Telephone: 1300 55 7010 (in Australia)
Fax: +61 8 9323 2033
ADR Depositary
The Bank of New York
101 Barclay Street
22nd Floor
New York, NY 10286
United States of America
Telephone: +1 888 269 2377
Fax: +1 212 571 3050/3052
Authorised Representative
United States of America
Puglisi & Associates
850 Library Avenue, Suite 204
PO Box 885
Newark, Delaware 19715
United States of America
Telephone: +1 302 738 6680
Fax: +1 302 738 7210
Certain statements contained in this document, including, without limitation, th
Sharenet Sites 
