Glossary

Absa   Absa Group Limited  
AGM   Annual General Meeting  
the board   The board of directors of Tsogo Sun Holdings Limited  
CASA   Casino Association of South Africa  
CGU   Cash-generating unit  
Companies Act   The Companies Act of 2008, as amended  
Ebitda   Earnings before interest, tax, depreciation and amortisation  
Ebitdar   Earnings before interest, tax, depreciation, amortisation and rentals  
Ebitdar margin   This is calculated by expressing Ebitdar as a percentage of revenue  
GAAP   Generally Accepted Accounting Principles  
Gold Reef   Gold Reef Resorts Limited  
HCI   Hosken Consolidated Investments Limited  
HEPS   Headline earnings per share  
IAS   International Accounting Standards  
IFRIC   International Financial Reporting Interpretations Committee  
IFRS   International Financial Reporting Standards  
JIBAR   Johannesburg Interbank Agreed Rate  
JSE   JSE Limited  
SA   South Africa  
SENS   Stock Exchange News Service of JSE Limited  
STC   Secondary Tax on Companies  
Strate   Share Transactions Totally Electronic, an unlisted company owned by the JSE and CSDP  
the group   Tsogo Sun Holdings Limited and its subsidiaries, associates and joint ventures  
Tsogo Sun or the company   Tsogo Sun Holdings Limited  
TSH   Tsogo Sun Hotels, Gaming and Entertainment (Pty) Limited  
VAT   Value Added Tax