ASSORE LIMITED - Posting of Integrated Annual Report and Notice of Annual General Meeting

Posting of Integrated Annual Report and Notice of Annual General Meeting

Assore Limited
(Incorporated in the Republic of South Africa)
Registration number: 1950/037394/06
Share code: ASR
ISIN: ZAE000146932
(“Assore” or “the Company”)

POSTING OF INTEGRATED ANNUAL REPORT AND NOTICE OF ANNUAL GENERAL
MEETING

1.   Posting of Integrated Annual Report

     Assore shareholders are advised that Assore is posting its
     integrated annual report, including its audited annual
     financial statements for the year ended 30 June 2016 (“the
     IAR”) today, being Wednesday, 26 October 2016. The IAR is
     also available on the Company’s website at www.assore.com.

     The financial results contained in the IAR have not been
     amended   from   those   released  in   the  final   results
     announcement made on 7 September 2016. However, the IAR
     contains additional information pertaining to the paragraph
     entitled “Event after the reporting period”, as contained in
     the final results announcement, in which it was noted that
     the fair values of assets acquired and liabilities assumed
     by Dwarsrivier Chrome Mine Proprietary Limited (“DCM”) were
     in the process of being determined. Between 7 September 2016
     and 19 October 2016, being the date of the approval by the
     Board of the IAR, the fair values of assets acquired and
     liabilities assumed by DCM have been determined and a
     summary of the business combination, relating to the
     acquisition of DCM, per note 36 to the consolidated annual
     financial statements, is as follows:

                                                         R’000
     Net assets acquired, at fair value              1 290 438
     Deferred tax liability raised in respect
     of the fair value of assets acquired and
     liabilities assumed                              (210 617)
     Fair value of interest already held by
     the group                                        (494 955)
     Fair value of purchase consideration             (540 207)
     Bargain purchase gain on acquisition               44 659



     The annual financial statements were audited by Ernst &
     Young Inc. and their audit report is available for
     inspection at Assore`s registered office.
2.   Notice of Annual General Meeting

     Notice is hereby given that Assore’s annual general meeting
     will be held at 15 Fricker Road, Illovo Boulevard,
     Johannesburg on Friday, 25 November 2016 at 10:30 to
     transact business as stated in the notice of the annual
     general meeting posted to shareholders by registered post
     today, being Wednesday, 26 October 2016.


Illovo Boulevard
Johannesburg
26 October 2016

Sponsor
The Standard Bank of South Africa Limited

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