Page 5 - Stellar IAR2015

INTRODUCTIONStellar Capital Partners Ltd is a Johannesburg Stock Exchange listed investment holding company with a combination of strategic and controlling stakes in a portfolio of investee companies that operate predominantly in the industrial and nancial services sectors.SCOPE OF THIS REPORTThe Board is committed to improving the quality of our reporting and disclosure each year so that it is increasingly meaningful and measurable for our stakeholders.The report has been prepared with guidance from the International Framework and using the recommendations of the King Code of Governance Principles for South Africa (King III). It conforms to the requirements of the South African Companies Act, No. 71 of 2008 and the JSE Listings Requirements.This report combines the nancial and non- nancial performance of Stellar Capital Partners Ltd and its Consolidated Subsidiaries and covers the nancial year from 1 December 2014 to 30 November 2015.The Board has concluded that the report should not cover the activities of Stellar Capital’s investee companies except insofar as is relevant to an assessment of the Group’s investment interest in those entities. Through representation on the investee boards, however the Company exercises in uence over the socio-economic, ethical and environmental policies and practices of investees.MATERIALITYThe Group acknowledges that it is necessary to determine the importance of matters that are material to the Group and thus warrant inclusion in the integrated annual report.Those charged with governance are involved in the materiality determination process in order for the Group to determine how best to disclose its performance in a meaningful and transparent manner. Not all information relating to the Group and its activities is considered material for purposes of this integrated annual report. Information of signi cant importance in terms of its known or potential e ect on value creation has been considered relevant for inclusion in this report.EXTERNAL ASSURANCE AND APPROVALThis integrated annual report has been reviewed by the Audit and Risk Committee and approved by the Board of Directors. The report has been signed on behalf of the Board by the Chairman, Mr DD Tabata and the Chief Executive O cer, Mr CE Pettit.Independent audit assurance on the consolidated annual nancial statements and the company annual nancial statements of Stellar Capital Partners Ltd as at 30 November 2015 has been provided by Grant Thornton Cape Inc. Their report to shareholders of the Company is on page 46.The Board decided that it was appropriate that there was no further third-party assurance in respect of this integrated annual report.CURRENCYAll amounts presented in this integrated annual report are presented in South African Rands, unless otherwise stated.FORWARD LOOKING STATEMENTSThe integrated annual report may contain statements regarding the future nancial performance of the Group which may be considered to be forward looking statements. It is important to note that, unless otherwise indicated, forward looking statements indicate the Group’s expectations and have not been reviewed or reported on.STELLAR CAPITAL PARTNERS | 01