Company statement of cash flows
for the year ended 31 August 2011

	2011	2010
	R’000	R’000
Cash effects of operating activities
(Loss)/profit before working capital changes	(1)	629 863
Working capital changes	(1 723)	1 923
Cash (utilised)/generated by operations	(1 724)	631 786
Taxation received	–	958
Cash (outflow)/inflow from operating activities before distributions	(1 724)	632 744
Distributions paid to shareholders	(299 727)	(249 779)
Net cash effects of operating activities	(301 451)	382 965
Cash effects of investing activities
Purchase of treasury shares from subsidiary company	(203)	(274)
Decrease/(increase) in loans receivable	1 640	(631 682)
Net cash effects of investing activities	1 437	(631 956)
Cash effects of financing activities
Proceeds from the issue of share capital	300 018	249 779
Net cash effects of financing activities	300 018	249 779
Net movement in cash and cash equivalents	4	788
Cash and cash equivalents at the beginning of the year	788	–
Cash and cash equivalents at the end of the year	792	788

Notes to the company statement of cash flows
for the year ended 31 August 2011

	2011	2010
	R’000	R’000
(Loss)/profit before working capital changes
Profit before taxation	892 865	1 328 069
Adjustment for:
Dividend in substance	(892 866)	(697 606)
Reversal of impairment	–	(600)
	(1)	629 863
Working capital changes
(Decrease)/increase in trade and other payables	(1 723)	1 923
	(1 723)	1 923
Taxation received
Income tax receivable at the beginning of the year	–	958
Current tax charge	–	–
	–	958