The authorised capital of the company remained unchanged. During the year 160 800 (2005: 1 261 900) ordinary shares were issued at R5,45 per share, 741 100 (2005: 861 600) at R14,10 per share, 467 100 (2005: 420 700) at R15,80 per share, 66 600 (2005: Nil) at R17,30 per share, 446 060 (2005: 30 000) at R15,99 per share and 33 300 (2005: 33 300) at R17,70 per share. Options exercised in terms of the Reunert 1985 Share Option Scheme accounted for this increase.

The performance of the divisions and the group’s results are reviewed in the Letter to Shareholders and the segmental analysis is set out in Segmental Analysis.

An interim ordinary dividend No 160 of 63 (2005: No 158 of 52) cents per share was declared on 15 May 2006, a special dividend of 200 (2005: Nil) cents per share was declared on 31 August 2006 and a final ordinary dividend No 161 of 210 (2005: No 159 of 170) cents per share was declared on 20 November 2006.

A total distribution of 473 cents (2005: 222 cents) per ordinary share was declared relating to the 2006 financial year.

An interim 5,5% cumulative preference dividend No 42 was declared on 6 July 2006 and a final dividend No 43 will be declared on 29 December 2006.

Your directors are of the opinion that the publication of information on all the company’s subsidiaries in this report would entail expense out of proportion to the value to shareholders.

Annexure A to this report, however, sets out the principal subsidiaries of the company.

During this financial year the following special resolutions were passed by subsidiaries of Reunert Ltd: Kopano Copier Company (Pty) Limited increased its share capital and Barmarc Properties (Pty) Limited and Reumech OMC (Pty) Limited changed their names to CBi- Electric – Telecommunication Cables (Pty) Limited and CBi-Electric – Transformers (Pty) Limited respectively and altered their memoranda of association. Full details of these resolutions may be viewed at the company’s registered office.

Messrs SD Jagoe, KJ Makwetla, GJ Oosthuizen and MJ Shaw retire by rotation at the forthcoming annual general meeting and all offer themselves for re-election.

The names of the directors in office at 30 September 2006 and to the date of this report, are set out in the Board of Directors. The name and address of the company secretaries is set out in Corporate Administration and Information.

At the reporting date, fully paid ordinary Reunert Limited shares were held directly and indirectly by the directors as indicated in the table below:

These holdings have remained unchanged up to 6 December 2006.

There were no non-beneficial interests in either period.

Executive directors of the company held unexercised options to subscribe for 613 500 (2005: 1 027 200) ordinary shares in terms of the Reunert 1985 Share Option Scheme. These options are due to expire as follows:

– 333 500 on 13 May 2013

– 280 000 on 29 August 2015 The directors have no financial interest in contracts entered into by the group during the year. For further information on directors’ share options, refer to note 29 of the annual financial statements.

Agreement has been reached, subject to shareholders’ approval, to introduce a strategic BEE shareholding at holding company level. The entire share capital of Bargenel Investments Limited, a wholly owned subsidiary of Reunert Limited, which will own approximately 9,5% of Reunert Limited’s share capital, will be sold to a company to be known as Rebatona Investment Holdings (Pty) Limited. The Rebatona Educational Trust, a broad-based BEE trust created by Reunert for the purpose of benefiting black youth will hold 70% of Rebatona’s shares, and 30% will be held by the Peotona founding members, Cheryl Carolus, Dolly Mokgatle, Noluthando Orleyn and Wendy Lucas-Bull.

Reunert recently announced the establishment of a finance company with PSG which is subject to certain suspensive conditions. Reunert will contribute its stake in RC&C Finance Company (Pty) Limited for 49,9% of the new company while PSG Group and other minority shareholders will own 39,9% and 10,2% respectively and will contribute R375 million in cash.

The attributable interest of the company in the profits and losses of its consolidated subsidiaries for the year ended 30 September 2006 is: