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Directors’ Responsibility Statement




The directors are responsible for the preparation and fair presentation of the consolidated financial statements of RCS Investment

Holdings Limited, its subsidiaries and its associates (hereafter referred to as the “RCS Group”), comprising the consolidated

statement of financial position as at 31 December 2015, and the consolidated income statement, the consolidated statements of

comprehensive income, changes in equity and cash flows for the period then ended, and the notes to the consolidated financial

statements, which include a summary of significant accounting policies and other explanatory notes, in accordance with International

Financial Reporting Standards and the requirements of the Companies Act of South Africa. In addition, the directors are responsible

for preparing the directors’ report.

The directors are also responsible for such internal control as the directors determine is necessary to enable the preparation of

consolidated financial statements that are free from material misstatement, whether due to fraud or error, and for maintaining

adequate accounting records and an effective system of risk management.

The directors have made an assessment of the ability of the RCS Group to continue as a going concern and have no reason to believe

that the businesses will not be a going concern in the year ahead.

The auditor is responsible for reporting on whether the consolidated financial statements are fairly presented in accordance with

the applicable financial reporting framework.

Approval of the Financial Statements

The consolidated financial statements of the RCS Group, as identified in the first paragraph, were approved by the board of directors

on 22 April 2016 and were signed by:

SW van der Merwe

Chief executive officer

I hereby confirm, in my capacity as company secretary of RCS Investment Holdings Limited, that for the period ended 31 December

2015, the company has filed all required returns and notices in terms of the Companies Act, 2008 and that all such returns and

notices are to the best of my knowledge and belief true, correct and up to date.

GS Harker

Company Secretary

Company Secretary Statement