Glossary of terms
| Throughout this annual report, the following terms shall have the meanings assigned to them below: | |
| Absa | Absa Group Limited |
| Avusa | Avusa Limited |
| Batho Bonke | Batho Bonke Capital (Proprietary) Limited |
| BBBEE | Broad-based Black Economic Empowerment |
| BEE | Black economic empowerment |
| BEE codes | The Codes of Good Practice on Black Economic Empowerment, issued under section 9(1) of the Broad-based Black Economic Empowerment Act, as amended |
| BEE options | The options attached to the BEE shares allowing each redeemable option-holding shareholder to subscribe for one Mvelaphanda Group ordinary share at a minimum subscription price of R9,18 |
| BEE shares | 276 223 624 redeemable option-holding shares with a par value of 0,1 cent each in the share capital of Mvelaphanda Group which were allotted and issued on 19 June 2007 and 10 December 2010 |
| Companies Act | Companies Act No 71 of 2008, as amended |
| Corporate governance or King III | South African Code of Corporate Practices and Conduct as recommended in the King III Report |
| Effective interest method | The effective interest method is a method of calculating the amortised cost of a financial asset/liability and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts/payments (including all fees on points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial asset/liability, or, where appropriate, a shorter period |
| GDP | Gross Domestic Product |
| Group Five | Group Five Limited |
| HDSA | Historically Disadvantaged South Africans |
| IFRS | International Financial Reporting Standards |
| Intrinsic net asset value | A measure of the value of the investment based on its assets less its liabilities |
| JIBAR | Johannesburg Inter-bank Agreed Rate |
| JSE | JSE Limited |
| Life Healthcare | Life Healthcare Group Holdings (Proprietary) Limited |
| Mvela Group shareholders’ equity | means, the consolidated shareholders’ equity (net of intangibles and goodwill) in respect of the Mvela Group as reflected in, and/or ascertained from, the most recent consolidated audited financial statements or unaudited consolidated interim financial statements or, to the extent that such financial statements are not available, the consolidated, unaudited management accounts of Mvela Group, as determined in accordance with IFRS |
| Mvelaphanda Group or the Company | Mvelaphanda Group Limited |
| Mvelaphanda Holdings | Mvelaphanda Holdings (Proprietary) Limited |
| SENS | Securities Exchange News Service |
| Stakeholders | Includes shareholders, employees, customers, suppliers and the government |
| Strategic investments | Amongst other, the Group’s principal strategic investments are:
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| The board or ‘board’ | The board of directors of Mvelaphanda Group Limited |
| The Group or Mvela Group | Mvelaphanda Group and its subsidiaries, associates and investments |
| Vox or Vox Telecom | Vox Telecom Limited |
| FINANCIAL RATIOS | |
| Debt: equity ratio | Total interest-bearing borrowings/Total capital and reserves |
| Diluted headline (loss)/earnings per share | Diluted headline (loss)/earnings/Weighted average number of shares in issue |
| Earnings yield | Earnings per ordinary share/Ordinary share price at 30 June 2011 |
| Headline (loss)/earnings per share | Headline (loss)/earnings/Weighted average number of shares in issue |
| Intrinsic net asset value per share | Intrinsic net asset value/ Diluted weighted average net number of ordinary shares in issue |
| Gearing ratio | Mvela Group net equity value/Group indebtedness |
| Return on net investments | Net (loss)/profit after taxation from investments/Average net investments |
| Return on shareholders’ funds | Net (loss)/profit attributable to equity holders/Average capital and reserves attributable to equity holders |