- Statement of responsibility by board of directors
- Statement by the company secretary
- Audit and Risk Committee Report
- Report of the independent auditor
- Report of the board of directors
- Accounting policies
- Balance sheets
- Income statements
- Statements of changes in equity
- Cash flow statements
- Notes to the annual financial statements
- Annexure A – Principal subsidiary companies
- Annexure B – Principal investments
- Annexure C – Significant associated companies
- Annexure D – Information on business and geographical segments
Notes to the annual financial statements
FOR THE YEAR ENDED 31 MARCH 2009
| « Note 34 | Note 36 » |
| 35. | Guarantees and contingent liabilities |
| 2009 | 2008 | |||
| R million | R million | |||
| 35.1 | Guarantees | |||
| Guarantee to associated company* | 386 | – | ||
| Guarantees by subsidiary companies | 1 | 8 | ||
| 387 | 8 | |||
| 35.2 | Contingent liabilities | |||
| Contract grower guarantees** | 48 | 50 |
| * | Unilever Plc and Unilever NV, hereafter Unint, and Robertsons Holdings (Pty) Limited (Robertsons), a wholly owned subsidiary company of Remgro, issued a guarantee to the holders of commercial paper issued by Unilever SA (Pty) Limited (Unilever SA). The companies are jointly and severely liable in the event of non-performance by Unilever SA. In terms of its commercial paper programme, Unilever SA may issue commercial paper to the value of R2.5 billion. On 31 March 2009, commercial paper amounting to R1.5 billion was issued by Unilever SA. Unint issued a cross-guarantee that limits Robertson's liability to 25.75% of the paper in issue. If Unilever SA issues commercial paper to the full extent of the programme, Robertson’s maximum exposure in terms of this arrangement amounts to R643.75 million. | ||
| ** | Certain subsidiary companies have contingencies relating to certain contract grower arrangements. It is not anticipated that any material liabilities will arise from these contingencies. |