LABAT AFRICA LIMITED - Change Statement and Notice of Annual General Meeting

Change Statement and Notice of Annual General Meeting

LABAT AFRICA LIMITED
Incorporated in the Republic of South Africa
(Registration number 1986/001616/06)
JSE code: LAB
ISIN: ZAE000018354
(“Labat” or “the company” or “the group”)


CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING


Change statement
The audited group annual financial statements contains certain adjustments that were made when compared to the
reviewed condensed preliminary consolidated financial results which were published on SENS on 3rd June 2013, which is
detailed below.

During the course of finalising the audit for the year ended 28 February 2013, it was identified that cash flows relating to
South African Revenue Services statutory levies was incorrectly disclosed under Net Flow from Operating Activities instead
of Net Flow from Financing Activities. This has now been adjusted for. The effect of the adjustment has been disclosed
below:

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 
                                                                  Reviewed              Adjustment                 Audited
                                                          28 February 2013                                28 February 2013
                                                                     R’000                   R’000                   R’000
Net flow from operating activities                                  (3 329)                 (1 887)                 (5 215)
Net flow from financing activities                                  (1 904)                  1 887                     (18)

In addition, there was a reallocation between loans from directors and shareholders and provisions in the current and
prior years, which has been presented in the annual report as extracted below.

EXTRACT FROM THE STATEMENT OF FINANCIAL POSITION
Current Liabilities                                                    2013                  2012                    2011
                                                                                        (Restated)              (Restated)
Loans from directors and shareholders                             7 751 022             8 414 231              10 840 467
Provisions                                                        5 847 468             3 578 981               1 242 483

The above reallocations had no impact on the Condensed Consolidated Statement of Financial Position, Condensed
Consolidated Statement of Comprehensive Income, Condensed Consolidated Statement of Changes in Equity, Earnings
and Headline Earnings per Share and NAV of the group.

Notice of Annual General Meeting
Notice is hereby given that the annual general meeting of ordinary shareholders will be held in the boardroom, Labat 23
Kroton Avenue, Weltevreden Park, Johannesburg, at 15:00 on Friday, 29 November 2013, to transact the business as
stated in the notice of annual general meeting forming part of the integrated annual report.

Record Date
The record date for posting of the integrated annual report is Friday, 30 August 2013. The record date which shareholders
of the company must be registered as such in the company’s securities register in order to attend and vote at the meeting
is Friday, 22 November 2013. The last day to trade in order to be eligible to vote at the annual general meeting will be
Friday, 15 November 2013.

Johannesburg
2 September 2013

Sponsor:
Arcay Moela Sponsors Proprietary Limited

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