CULLINAN HOLDINGS LIMITED - Change Statement and Notice of Annual General Meeting Announcement

Change Statement and Notice of Annual General Meeting Announcement

CULLINAN HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1902/001808/06)
Share Code: CUL              ISIN: ZAE000013710
Share code: CULP             ISIN: ZAE000001947
(“the company”)

CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING ANNOUNCEMENT

Shareholders are advised that:

    -   the annual report, incorporating a notice convening the annual general meeting of the
        company (“the AGM”), was distributed to shareholders on Thursday, 17 March 2016 and is
        available on the website of the company at www.cullinan.co.za. There have been no
        material changes to the financial information published in the provisional report dated 29
        December 2015, save that in the statement of cash flows reclassification as shown below
        has been effected:

                                                       Provisional results           Annual financial
                                                                                           statements
        Cash generated from operations                              11 149                     60 306
        Net cash from operating activities                         -27 081                     30 452
        Net cash from investing activities                        -121 141                   -166 590
        Net cash from financing activities                          69 363                     69 363
        Total cash movement for the year                            -78859                    -66 775
        Effect of exchange rate changes on
        cash and cash equivalents                                    1 505                    -10 579
        Cash and cash equivalents at the
        beginning of the year                                      185 723                    185 723
        Cash and cash equivalents at the end
        of the year                                                108 369                    108 369

        The reclassification refers to trade receivables acquired on the acquisition of the business of
        Chester Finance on 1 October 2014 which were reflected in cash generated from
        operations, now reclassified into cash from investing activities.

        In addition, the difference on the effect of changes in exchange rate on cash and cash
        equivalents had been reflected in cash generated from operations. This has been and is
        amended as above and reflected in the effect of exchange rate changes on cash and cash
        equivalents.

        This reclassification has no effect on the overall cash flow movement for the year.
                                                                                    
    -   the AGM will be held at 10:00 on Friday, 22 April 2016 in the boardroom, 2nd Floor, Travel
        House, 6 Hood Street, Rosebank, Johannesburg;

    -   the record date for purposes of determining which shareholders are entitled to participate in
        and vote at the annual general meeting is Friday, 15 April 2016. Accordingly, the last day to
        trade in order to be eligible to vote at the annual general meeting will be Friday, 8 April 2016.

By order of the board.

Johannesburg
17 March 2016

Sponsor
Arbor Capital Sponsors Proprietary Limited

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