A N N U A L   R E P O R T   –   2 0 0 2 
Financial highlights Statutory information
Letter to the shareholders Accounting policies
Board of directors Income statements
Group operations Balance sheets
Developing people Cash flow statements
Corporate governance Notes to the cash flow statements
Value added statement Statements of changes in equity
Segmental analysis Principal subsidiaries
Five-year financial review Share ownership analysis
Summary of statistics Shareholders’ diary
Definitions Administration
Directors’ responsibility Notice of annual general meeting
Report of the independent auditors Currency conversion table
Secretaries’ certification Board, Director and Committes

P R I N C I P L E   S U B S I D I A R I E S
Effective
 
percentage Interest of holding company
Issued holding Shares Indebtedness

 
  capital 2002 2001 2002 2001 2002 2001
  R % % Rm Rm Rm Rm

OFFICE SYSTEMS              
Nashua Limited 947 794 100 100 6,3 6,3 (9,4) (7,5)
Royce Imaging Industries (Pty) Limited 100 100 100 18,3 12,0
RC&C Finance Company (Pty) Limited 4 000 10* 10* 13,0 13,0 (0,9) ­

CONSUMER PRODUCTS AND SERVICES              
Nashua Mobile (Pty) Limited
(formerly Nashua Nedtel
          
Communications (Pty) Limited) 9 741 983 100 58 267,8 14,1 ­ 2,4
Reunert Consumer and Commercial
Holdings Limited 100 100 100 45,0 45,0 (43,1) (52,3)
NPC (Electronics) Limited 33 000 100 100 0,2 0,2 (2,7) (0,5)
NPC (Airconditioning) Limited 200 000 100 100 2,2 2,2 (0,7) (5,5)
Pansolutions (Pty) Limited 100 100 100 (1,0) ­
Futronic (Pty) Limited 100 100 100
RC&C Manufacturing Company
(Pty) Limited 100 100 100 ­ 7,0
RC&C (Parow Factory) Properties
(Pty) Limited (formerly NPC Parow
Factory (Pty) Limited) 2 100 100 0,5 0,5 ­ 3,5
Saco Systems Limited (formerly Reutech
Global Systems Limited) 16 556 100 100 5,2 6,4
Saco Systems (Pty) Limited 96 000 100 100 (0,7) (0,7)

TELECOMMUNICATIONS

            
Acuo Technologies (Pty) Limited             
(formerly Reutech Commercial             

Electronics (Pty) Limited)

4 000 100 100 (0,5) (0,1)    

REUTECH             
Fuchs Electronics (Pty) Limited 50 000 100 100
Fuchs Electronics (Pty) Limited 50 000 100 100
Reutech Defence Industries (Pty) Limited 600 000 100 100 0,3 0,4 0,4
Reunert Defence Logistics (Pty) Limited 2 000 70 70 4,9 5,1
Reutech Radar Systems (Pty) Limited 200 57 57 8,6 8,6
Reutech Limited (formerly Reunert
Mechanical Systems Limited 30 000 000 100 100 5,0

LOW VOLTAGE ELECTRICAL             
Circuit Breakers Industries Limited 46 100 100 3,8 (1,9)    
Heinemann Holdings Limited 35 000 100 100 16,4 16,4    

CABLES 9 886   098 50 50    
African Cables Limited 4 000 50 50 99,9 99,9    
Afcab Holdings (Pty) Limited             

INVESTMENTS AND SERVICES

            
Reunert Finance Company Limited 4 000 000 100 100 4,0 4,0 (120,2) 83,8
Bargenel Investments Limited 7 100 100 168,0 168,0 (104,3) (17,6)
Reunert Management Services Limited
(formerly Reunert Management Services
(Pty) Limited) 4 000 100 100 (0,1) (2,2)
Sundry 6,0 6,2 (3,6) (8,4)
Indebtedness (net) (154,7) 123,8
388,6 408,3
Provision for goodwill write-off (45,9) (45,9)
Provision for losses (38,2) (48,3)
Interest in subsidiaries 304,5 314,1
543,3 284,5 (154,7) 123,8
              

* Reunert Limited owns 10% of the total share capital, but 100% of the "A" shares, which is the class of shares entitled to share in the dividends of the company.



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