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| for the year ended December 31, 2004 | ||||||||
| Issued ordinary share capital |
Proportion
held by holding company |
Shares at cost | Amount
due to/(by) holding company |
|||||
| 2004 | 2003 | 2004 | 2003 | 2004 | 2003 | 2004 | 2003 | |
| R000 | R000 | % | % | R000 | R000 | R000 | R000 | |
| (A) Subsidiaries directly held | ||||||||
| Short term insurance companies | ||||||||
| African General Insurance | ||||||||
| Company Limited | 1 | 1 | 99 | 49 | 6,967 | 2,957 | – | – |
| Botswana Eagle Insurance | ||||||||
| Company Limited | ||||||||
| (incorporated in Botswana) | 9,003 | 9,003 | 100 | 100 | 14,359 | 14,359 | 361 | 2,049 |
| Eagle Insurance Company | ||||||||
| Limited (incorporated in | ||||||||
| Zimbabwe) ~ | 653 | 653 | 49 | 49 | 1,151 | 1,151 | 1,597 | 1,551 |
| SA Eagle Risk Financing | ||||||||
| Limited | 10,000 | 10,000 | 100 | 100 | 25,000 | 25,000 | 282 | 5,834 |
| General investment company | ||||||||
| African Guarantee & Indemnity | ||||||||
| Company Limited | 1 | 1 | 100 | 100 | 1 | 1 | (617) | (617) |
| Property companies | ||||||||
| British African Properties | ||||||||
| Limited | 1,200 | 1,200 | 100 | 100 | 6,142 | 6,142 | 461 | 996 |
| Eagle Properties (Krugersdorp) | ||||||||
| (Proprietary) Limited | 1 | 1 | 100 | 100 | 12 | 12 | 15,458 | 13,742 |
| Eagle Star House | ||||||||
| (Johannesburg) Limited | 120 | 120 | 100 | 100 | 136 | 136 | 261 | 538 |
| Surrey View (Proprietary) | ||||||||
| Limited | 1 | 1 | 100 | 100 | 1 | 1 | 601 | 5,128 |
| Waverley Properties | ||||||||
| (Proprietary) Limited | 90 | 90 | 100 | 100 | 7 | 7 | (2,154) | (2,158) |
| Other | ||||||||
| Compuline Cables (Proprietary) | ||||||||
| Limited | 4 | 4 | 100 | 100 | 2,600 | 2,600 | 1,500 | 1,500 |
| Eagle Scape (Proprietary) | ||||||||
| Limited | 1,000 | 1,000 | 100 | 100 | 1 | 1 | – | 238 |
| SA Eagle Legal Expenses | ||||||||
| Underwriting Managers | ||||||||
| (Proprietary) Limited | 1 | 1 | 89 | 89 | 890 | 890 | – | – |
| SA Eagle Life Limited | 10,000 | 10,000 | 100 | 100 | 10,000 | 10,000 | – | – |
| Issued ordinary share capital | Proportion held | Shares at cost | Amount due | |||||
| by holding company | to/(by) holding company | |||||||
| 2004 | 2003 | 2004 | 2003 | 2004 | 2003 | 2004 | 2003 | |
| R000 | R000 | % | % | R000 | R000 | R000 | R000 | |
| (B) Subsidiaries indirectly held | ||||||||
| Property companies | ||||||||
| Eagle Properties (Benoni) | ||||||||
| (Proprietary) Limited | – | – | 100 | 100 | – | – | – | – |
| Eagle Properties (East London) | ||||||||
| (Proprietary) Limited | 2 | 2 | 100 | 100 | – | – | – | – |
| Tarazed (Proprietary) Limited | – | – | 100 | 100 | – | – | – | – |
| Threadneedle Properties (SA) | ||||||||
| (Proprietary) Limited | 630 | 630 | 100 | 100 | – | – | – | – |
| (C) Associate companies | ||||||||
| Short term insurance company | ||||||||
| Mauritian Eagle Insurance | ||||||||
| Company Limited | ||||||||
| (incorporated in Mauritius) | – | – | 15 | 15 | 414 | 414 | – | – |
| Property company | ||||||||
| Natal Lands Limited * | 240 | 240 | 50 | 50 | 3 295 | 3 295 | – | – |
| Other | ||||||||
| BnB Sure (Proprietary) Limited | 1 | – | 20 | – | – | – | – | – |
| Flexilink Systems (Proprietary) | ||||||||
| Limited | 4 | 4 | 33 | 33 | – | – | – | – |
| Goldrush Investments | ||||||||
| (Proprietary) Limited | 1 | 1 | 100 | 100 | – | – | 958 | 958 |
| IDI Technology Solutions | ||||||||
| (Proprietary) Limited | 10 | 10 | 31 | 31 | – | – | – | – |
| SA Eagle Aviation Underwriting | ||||||||
| Managers (Proprietary) Limited | 1 | 1 | 50 | 50 | – | – | – | – |
The aggregate taxed results of subsidiaries were as follows:
Profits: R85,036,000 (2003: R91,266,000)
Losses: R3,005,000 (2003:
R1,935,000)
~ Controlled via management agreement
* Shares held by British African
Properties Limited