For the year ended 30 June 2014
A more detailed review of the results is contained in the integrated report.
Nature of business
Imperial is a mobility group active predominantly in three major areas of mobility being consumer and industrial logistics; vehicle import, distribution and dealerships, retail, rental and aftermarket parts; and vehicle related financial services.
The net attributable profit for the year amounted to R3 272 million (2013: R3 296 million). Basic headline earnings per share for the year was 1 625 cents (2013: 1 805 cents).
The results for the year are set out in the consolidated statement of profit or loss of this report.
The number of shares in issue on 30 June 2014 were as follows:
The preference shares are classified as interest-bearing debt in the statement of financial position due to the cumulative nature of their dividend rights.
Directors and secretary
The names of the directors and secretary who presently hold office are set on page 109 of this report.
In accordance with the Memorandum of Incorporation, Messrs S Engelbrecht, TS Gcabashe, RJA Sparks and A Tugendhaft and Ms P Langeni retire by rotation at the forthcoming annual general meeting but, being eligible, offer themselves for re-election and their re-election is recommended by the board.
In accordance with the Memorandum of Incorporation, the appointments of Messrs M Akoojee, MJ Lamberti, PB Michaux, and JJ Strydom, who were appointed during the year are submitted for confirmation at the forthcoming annual general meeting.
The aggregate interest of the directors and prescribed officers in the issued ordinary share capital of the company is disclosed in notes 40.
The board has considered and confirmed the suitability, qualifications and competence of the company secretary.
Imperial Holdings Share Appreciation Rights, Deferred Bonus and Conditional Share Plan Schemes
Details of the rights granted in terms of the schemes are set out notes 18 to the consolidated annual financial statements.
Details of the dividends declared are set out in notes 34 to the consolidated annual financial statements .
Details of the company’s principal subsidiaries are reflected in notes 39 to the consolidated annual financial statements.
Purchases by the Group of material subsidiaries, businesses and associates were as follows:
Material subsidiaries acquired by the Group
Material subsidiaries disposed of by the Group
The company passed the following special resolution at a general meeting held on 21 October 2013:
The company passed the following special resolutions at its annual general meeting held on 7 November 2013:
Subsidiaries of the company passed special resolutions, the nature of which might be significant to members in their appreciation of the state of affairs of the Group, as follows:
Events subsequent to year end
The Group acquired a 62,5% interest in Pharmed Pharmaceuticals (Pty) Limited, a pharmaceutical wholesaler, for a consideration of R148 million in July 2014.
Accounting policies and new and revised standards