TABLE OF CONTENTS Vision and values Chairman's report Chief Executive Officer's report Chief Financial Officer's report Corpora
VISION AND VALUES Our VISION is to become the undisputed and premier investment entity in the telecommunications sector, delive
CHAIRMAN’S REPORT I'm both humbled and privileged to be part of TeleMasters in such exciting times – a time of broadening busin
CHIEF EXECUTIVE'S REPORT The past year started with a bang with our acquisition of the business of African Paradigm (Pty) Ltd f
CHIEF FINANCIAL OFFICER'S REPORT The financial year under review has been a challenging one due to the recessionary economic co
CHIEF FINANCIAL OFFICER'S REPORT The Company follows a very strict ongoing credit policy. Customers delinquent for more than 7
CORPORATE GOVERNANCE REPORT The Board of directors hereby confirms its commitment to the principles of fairness, accountability
CORPORATE GOVERNANCE REPORT 4. ROLE AND FUNCTION OF THE BOARD The Articles of Association of the Company is the charter which g
CORPORATE GOVERNANCE REPORT The primary objective of the Audit Committee is to promote the overall effectiveness of corporate g
CORPORATE GOVERNANCE REPORT 6. INTERESTS OF DIRECTORS AND OFFICERS The register of interests of directors in contracts in terms
CORPORATE GOVERNANCE REPORT 11. CLOSED AND PROHIBITED PERIODS The Company enforces a restricted period for dealing in shares, i
REPORT BY THE AUDIT COMMITTEE This report of the Audit committee for the year ended 30 September 2009 is presented as required
REPORT BY THE AUDIT COMMITTEE 5. EXPERTISE AND EXPERIENCE OF THE FINANCIAL DIRECTOR As required by the JSE Listing Requirements
DIRECTORS' RESPONSIBILITIES AND APPROVAL The directors are required by the Companies Act of South Africa to maintain adequate a
INDEPENDENT AUDITORS' REPORT To the Shareholders of TeleMasters Holdings Limited REPORT ON THE FINANCIAL STATEMENTS We have aud
DIRECTORS' REPORT The directors have pleasure in presenting their report on the activities of the Company for the year ended 30
DIRECTORS' REPORT 3. SHARE CAPITAL The authorised and issued share capital of the Company at 30 September 2009 is set out in no
DIRECTORS' REPORT 7. LITIGATION There are currently no legal or arbitration proceedings against the Company (including any proc
DIRECTORS' REPORT 11. DIRECTORS' INTERESTS IN SHARE CAPITAL Number of shares Shareholding at year end: Direct: IG Bekker Indire
BALANCE SHEET Notes Assets Non-current assets Property, plant and equipment Intangible assets Deferred tax assets Total non-cur
INCOME STATEMENT Notes Year ended 30/09/09 R 231 222 775 (191 287 718) 39 935 057 1 103 108 (47 046) (293 000) (1 064 644) (1 0
STATEMENT OF CHANGES IN EQUITY Share capital R Balance at 1 October 2007 Profit for the year Dividends Balance at 30 September
CASH FLOW STATEMENT Notes 30/09/09 R 30/09/08 R Cash flows from operating activities Profit for the year Income tax expense Int
ACCOUNTING POLICIES 1. STATEMENT OF COMPLIANCE The financial statements have been prepared in compliance with International Fin
ACCOUNTING POLICIES This Interpretation is effective for accounting periods beginning on or after 1 July 2008. Adoption thereof
ACCOUNTING POLICIES ► IFRS 3 – Business combinations On 10 January 2008, the IASB published a revised IFRS 3 Business Combinati
ACCOUNTING POLICIES ► ► ► Present a Statement of financial position (Balance sheet) as at the beginning of the earliest compara
ACCOUNTING POLICIES ► IAS 19 – Employee Benefits This amendment deals with curtailments and negative past service cost, plan ad
ACCOUNTING POLICIES Under further amendments, rights, options and warrants issued to acquire a fixed number of an entity's own
ACCOUNTING POLICIES ► IFRIC 9 – Reassessment of Embedded Derivatives Due to the amendments to IAS 39, as discussed above, IFRIC
ACCOUNTING POLICIES ► IFRIC 18 – Transfers of assets from customers This Interpretation clarifies the requirements of IFRS for
ACCOUNTING POLICIES Key sources of estimation uncertainty include: ► Property, plant and equipment Fixed assets are reviewed an
ACCOUNTING POLICIES Any revaluation increase arising on the revaluation of such asset is credited in equity to the properties r
ACCOUNTING POLICIES ► ► First, to reduce the carrying amount of any goodwill allocated to the cash-generating unit; and Then, t
ACCOUNTING POLICIES If, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related obj
ACCOUNTING POLICIES ► Deferred tax Deferred tax is recognised on differences between the carrying amounts of assets and liabili
ACCOUNTING POLICIES Operating lease payments are recognised as an expense on a straight-line basis over the lease term, except
ACCOUNTING POLICIES 14. COST OF SALES The related cost of providing services recognised as revenue in the current period is inc
NOTES TO THE FINANCIAL STATEMENTS 1. SEGMENT REPORT The Company early adopted IFRS 8. This Standard requires an entity to repor
NOTES TO THE FINANCIAL STATEMENTS Furniture and fixtures R Cost Accumulated depreciation Net carrying amount 30 September 2008
NOTES TO THE FINANCIAL STATEMENTS Finite life intangible assets Computer software R 397 313 (88 413) 308 900 230 180 (152 243)
NOTES TO THE FINANCIAL STATEMENTS 30/09/09 R Tax consequence of undistributed reserves STC on remaining reserves 5. TRADE AND O
NOTES TO THE FINANCIAL STATEMENTS 8. FINANCE LEASE LIABILITIES Current 30/09/09 R 30/09/08 R 1 289 278 1 289 278 (413 266) 876
NOTES TO THE FINANCIAL STATEMENTS Year ended 30/09/09 R 12. INVESTMENT REVENUE Interest received on loans and receivables measu
NOTES TO THE FINANCIAL STATEMENTS Year ended 30/09/09 R 15. FINANCE COSTS Interest paid on other financial liabilities measured
NOTES TO THE FINANCIAL STATEMENTS Year ended 30/09/09 18. EARNINGS AND HEADLINE EARNINGS PER SHARE Earnings per share (“EPS”) D
NOTES TO THE FINANCIAL STATEMENTS The principle financial instruments used by the Company, from which financial risk arises, ar
NOTES TO THE FINANCIAL STATEMENTS Financial liabilities by category 30/09/09 Amortised cost R 5 987 694 19 405 264 44 758 25 43
NOTES TO THE FINANCIAL STATEMENTS The maximum exposure of financial assets to credit risk equates to the carrying amounts as pr
NOTES TO THE FINANCIAL STATEMENTS Contractual maturity analysis Payable within one year or on demand R 19 405 264 44 758 2 454
NOTES TO THE FINANCIAL STATEMENTS Capital management The Company's capital structure consists of debt which includes interest b
NOTES TO THE FINANCIAL STATEMENTS Details of transactions between the Company and the related parties are disclosed below: 30/0
NOTES TO THE FINANCIAL STATEMENTS 25. SENS ANNOUNCEMENT The SENS announcement, dated 17 December 2009, differs from these finan
SHAREHOLDER ANALYSIS Shareholders holding more than 5% - at September 2009 % Holdings Shareholder Maison D'Obsession Company –
TELEMASTERS IN THE PRESS TeleMasters spends to grow IT Web 4 Feb 2010 “Listed least-cost routing business TeleMasters invested
NOTICE OF THE ANNUAL GENERAL MEETING TELEMASTERS HOLDINGS LIMITED Incorporated in the Republic of South Africa Registration num
NOTICE OF THE ANNUAL GENERAL MEETING 7. Ordinary resolution number 7 – Non-executive directors' remuneration “RESOLVED THAT the
NOTICE OF THE ANNUAL GENERAL MEETING 11. Ordinary resolution number 11 – Authority to execute requisite documentation “RESOLVED
NOTICE OF THE ANNUAL GENERAL MEETING Directors' responsibility statement The directors, whose names appear under board of direc
NOTICE OF THE ANNUAL GENERAL MEETING Statement by the Board of directors of the Company It is the Board's intention to utilise
BRIEF CURRICULUM VITAE OF DIRECTORS Ms N Owen Nolene is a qualified Chartered Accountant and holds a B Com Law degree. She comp
NOTES TeleMasters Holdings Limited • Annual Report 2009 61
NOTES 62 TeleMasters Holdings Limited • Annual Report 2009
FORM OF PROXY TELEMASTERS HOLDINGS LIMITED • Incorporated in the Republic of South Africa Registration number 2006/015734/06 •
FORM OF PROXY Certificated shareholders and dematerialised shareholders with “own name” registration If you are unable to atten
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2009 Registration n
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TABLE OF CONTENTS Vision and values Chairman's report Chief Exe
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VISION AND VALUES Our VISION is to become the undisputed and pr
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CHAIRMAN’S REPORT I'm both humbled and privileged to be part of
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CHIEF EXECUTIVE'S REPORT The past year started with a bang with
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CHIEF FINANCIAL OFFICER'S REPORT The financial year under revie
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CHIEF FINANCIAL OFFICER'S REPORT The Company follows a very str
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CORPORATE GOVERNANCE REPORT The Board of directors hereby confi
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CORPORATE GOVERNANCE REPORT 4. ROLE AND FUNCTION OF THE BOARD T
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CORPORATE GOVERNANCE REPORT The primary objective of the Audit
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CORPORATE GOVERNANCE REPORT 6. INTERESTS OF DIRECTORS AND OFFIC
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CORPORATE GOVERNANCE REPORT 11. CLOSED AND PROHIBITED PERIODS T
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REPORT BY THE AUDIT COMMITTEE This report of the Audit committe
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REPORT BY THE AUDIT COMMITTEE 5. EXPERTISE AND EXPERIENCE OF TH
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DIRECTORS' RESPONSIBILITIES AND APPROVAL The directors are requ
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INDEPENDENT AUDITORS' REPORT To the Shareholders of TeleMasters
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DIRECTORS' REPORT The directors have pleasure in presenting the
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DIRECTORS' REPORT 3. SHARE CAPITAL The authorised and issued sh
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DIRECTORS' REPORT 7. LITIGATION There are currently no legal or
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DIRECTORS' REPORT 11. DIRECTORS' INTERESTS IN SHARE CAPITAL Num
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BALANCE SHEET Notes Assets Non-current assets Property, plant a
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INCOME STATEMENT Notes Year ended 30/09/09 R 231 222 775 (191 2
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STATEMENT OF CHANGES IN EQUITY Share capital R Balance at 1 Oct
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CASH FLOW STATEMENT Notes 30/09/09 R 30/09/08 R Cash flows from
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ACCOUNTING POLICIES 1. STATEMENT OF COMPLIANCE The financial st
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ACCOUNTING POLICIES This Interpretation is effective for accoun
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ACCOUNTING POLICIES ► IFRS 3 – Business combinations On 10 Janu
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ACCOUNTING POLICIES ► ► ► Present a Statement of financial posi
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ACCOUNTING POLICIES ► IAS 19 – Employee Benefits This amendment
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ACCOUNTING POLICIES Under further amendments, rights, options a
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ACCOUNTING POLICIES ► IFRIC 9 – Reassessment of Embedded Deriva
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ACCOUNTING POLICIES ► IFRIC 18 – Transfers of assets from custo
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ACCOUNTING POLICIES Key sources of estimation uncertainty inclu
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ACCOUNTING POLICIES Any revaluation increase arising on the rev
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ACCOUNTING POLICIES ► ► First, to reduce the carrying amount of
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ACCOUNTING POLICIES If, in a subsequent period, the amount of t
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ACCOUNTING POLICIES ► Deferred tax Deferred tax is recognised o
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ACCOUNTING POLICIES Operating lease payments are recognised as
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ACCOUNTING POLICIES 14. COST OF SALES The related cost of provi
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NOTES TO THE FINANCIAL STATEMENTS 1. SEGMENT REPORT The Company
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NOTES TO THE FINANCIAL STATEMENTS Furniture and fixtures R Cost
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NOTES TO THE FINANCIAL STATEMENTS Finite life intangible assets
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NOTES TO THE FINANCIAL STATEMENTS 30/09/09 R Tax consequence of
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NOTES TO THE FINANCIAL STATEMENTS 8. FINANCE LEASE LIABILITIES
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NOTES TO THE FINANCIAL STATEMENTS Year ended 30/09/09 R 12. INV
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NOTES TO THE FINANCIAL STATEMENTS Year ended 30/09/09 R 15. FIN
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NOTES TO THE FINANCIAL STATEMENTS Year ended 30/09/09 18. EARNI
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NOTES TO THE FINANCIAL STATEMENTS The principle financial instr
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NOTES TO THE FINANCIAL STATEMENTS Financial liabilities by cate
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NOTES TO THE FINANCIAL STATEMENTS The maximum exposure of finan
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NOTES TO THE FINANCIAL STATEMENTS Contractual maturity analysis
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NOTES TO THE FINANCIAL STATEMENTS Capital management The Compan
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NOTES TO THE FINANCIAL STATEMENTS Details of transactions betwe
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NOTES TO THE FINANCIAL STATEMENTS 25. SENS ANNOUNCEMENT The SEN
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SHAREHOLDER ANALYSIS Shareholders holding more than 5% - at Sep
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TELEMASTERS IN THE PRESS TeleMasters spends to grow IT Web 4 Fe
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NOTICE OF THE ANNUAL GENERAL MEETING TELEMASTERS HOLDINGS LIMIT
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NOTICE OF THE ANNUAL GENERAL MEETING 7. Ordinary resolution num
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NOTICE OF THE ANNUAL GENERAL MEETING 11. Ordinary resolution nu
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NOTICE OF THE ANNUAL GENERAL MEETING Directors' responsibility
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NOTICE OF THE ANNUAL GENERAL MEETING Statement by the Board of
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BRIEF CURRICULUM VITAE OF DIRECTORS Ms N Owen Nolene is a quali
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NOTES TeleMasters Holdings Li
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NOTES 62 TeleMasters Holdings
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FORM OF PROXY TELEMASTERS HOLDINGS LIMITED • Incorporated in th
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FORM OF PROXY Certificated shareholders and dematerialised shar
African Annual Reports
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