 |
13.1 |
Non-recurring
restructuring costs |
| |
|
The
non-recurring restructuring costs resulted
from the review of the International Risk
Services business in the 2005 financial
year. Included in these costs was a provision
for historical lease issues of R57 million.
The group negotiated the early settlement
of a lease over previously unoccupied premises
in the current year resulting in an R18
million release of the onerous lease provision.
There was a net R4 million charge in the
current year relating to other provisions
made in the previous year. |
| |
13.2 |
Proposed client
settlements for historical bulking practice |
| |
|
Details
of the proposed settlement off er are provided
in the Directors’ Report contained
nancial statements. |
| |
13.3 |
Provision for
additional potential historical financial
exposures |
| |
|
As detailed in the Directors’
Report, an amount of R100 million has been
provided for that have arisen from the wider
review of historical business practices
in the South African group. This review
is substantially complete and is expected
to be completed by August 2006. Importantly,
the additional potential exposures identified
relate to historical practices which do
not have a material eff ect on current earnings. |
