Integrated
Report

2019

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About this report

About this report

Report objective and scope

This integrated report presents a holistic view of Attacq Limited and its subsidiaries (Attacq, group or company) for the year ended 30 June 2019 (FY19). It includes information on our performance, governance and prospects to enable stakeholders to make an informed assessment of our ability to create and sustain value in the short, medium and long term. Supplementary information appears in our online sustainability report.

The primary audience of this report is providers of financial capital, and our complete suite of reports are catering for the wider stakeholder audience.

This report covers our South African, Rest of Africa and other international activities, associates and joint ventures. Refer to our annual financial statements (AFS) at www.attacq.co.za for details of these investments.

For completeness, we include material events between year end and publication. Unless indicated, information in this report refers to the group. We restated our prior year annual financial statements. For more information refer to our AFS.

Reporting boundary

In line with the International Integrated Reporting Council <IR> Framework (<IR> framework), in determining the boundary for this report, we work outward from the financial reporting entity, Attacq, to identify risks, opportunities and outcomes associated with stakeholders that have a significant effect on our ability to create and sustain value.

Reporting frameworks and regulations

We have applied the guiding principles and content elements of the <IR> framework and the following reporting frameworks and regulations in preparing this report:

  • Companies Act 71 of 2008 (Companies Act)
  • International Financial Reporting Standards (IFRS)
  • SA REIT Association best-practice recommendations
  • King Code on Corporate Governance 2016 (King IV™*)
  • FTSE/JSE Responsible Investment Index (FTSE4Good)
  • JSE Listings Requirements.

Materiality

This report focuses on matters that substantively affect our ability to create and sustain value over the short, medium and long term. Our approach to managing these is reflected in the matters flowing from our strategy.

Strategic matters were determined in an integrated process by understanding:

Assurance

We use a combined assurance model to manage various aspects of our operations, including external reporting. These assurances are provided by management, our board of directors, our internal auditors (outsourced to PricewaterhouseCoopers (PwC)) and our external auditors (Deloitte & Touche).

For more information on the scope of services performed by our external auditors, refer to our AFS on our website.

Specific non-financial elements are externally assured and/or audited to ensure legal compliance or adherence to our governance standards. These include adherence to water use licence, elements of our information technology environment, and occupational health and safety.

Forward-looking statements

This integrated report contains forward-looking statements that, unless indicated, reflect the group's expectations as at 23 October 2019. Actual results may differ from our expectations. The group cannot guarantee that any forward-looking statement will materialise and, accordingly, readers are cautioned not to place undue reliance on them. The group disclaims any intention and assumes no obligation to revise any forward-looking statement, even if new information becomes available, other than as stipulated by the JSE Listings Requirements and other applicable regulations.

Approval of the 2019 integrated report

The board, supported by the audit and risk committee, acknowledges its responsibility to ensure the integrity of the 2019 integrated report. The audit and risk committee has accordingly applied its collective mind, and, in its opinion, this integrated report addresses all material matters and offers a balanced view of its strategy and how it relates to the organisation's ability to create value in the short, medium and long term. The report adequately addresses the use of, and effects on the resources and the manner in which the availability of these resources are impacting Attacq's strategy and value creation model. We, as the board, believe that this report has been prepared in accordance with the International Integrated Reporting Council <IR> Framework.

The board authorised this report for release on 23 October 2019.

Feedback

We value your feedback as we continuously strive to improve our reporting. For feedback and enquiries on our reports, please email:

Brenda Botha
Head of investor relations
brenda@attacq.co.za
Tel: +27 (0)87 845 1136

* Copyright and trademarks are owned by the Institute of Directors in Southern Africa NPC and all its rights are reserved

P Tredoux
Chairperson, independent
non-executive director

 

HR El Haimer
Lead independent
non-executive director

 

MM du Toit
Independent
non-executive director

 

IN Mkhari
Independent
non-executive director

             

BT Nagle
Independent
non-executive director

 

S Shaw-Taylor
Independent
non-executive director

 

JHP van der Merwe
Independent
non-executive director

   
             

M Hamman
Chief executive officer
(CEO)

 

R Nana
Chief financial officer
(CFO)

 

JR van Niekerk
Chief operating officer
(COO)