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Condensed Unaudited Financial Statements For The Period Ended 31 May 2017
Go Life International Limited
(Incorporated in the Republic of Mauritius)
(Registration number: 098177 C1/GBL)
SEM share code: GOLI.N0000
JSE share code: GLI ISIN: MU0330N00004
(“the Company” or “Go Life ”)
Condensed Unaudited Financial Statements For The Period Ended 31 May 2017
Director’s Commentary
The Company was incorporated on 1 October 2010 as a public company limited by shares under the
Mauritius Companies Act and holds a Category 1 Global Business Licence (Licence No C110009034)
issued by the Mauritius Financial Services Commission. Go Life International is registered in
the Republic of Mauritius and was listed on SEM on 07 July 2011.
Primary Objective
Go Life International was established to leverage the strength of the existing South African
nutraceutical companies, Go Life Health Products and Gotha Health Products (collectively
Go Life SA), and to drive the presence of the South African products and brands across the
global nutraceutical market. The Go Life product range prides itself on its natural products
and supplements originated in the womb of Africa which are scientifically developed for the
world and enhanced through unique technology.
Company outlook
The Company successfully completed a dual listing on the Altx of the JSE on 23 November 2016.
At the date of listing the Company’s market Capitalization was ZAR 385 million with an opening
share price of ZAR0.50c. Since the date of listing the share price has increased to
ZAR 0.60c and subsequently the market capitalization has increased with 25%.
During 2016, the Company increased its shareholding in Go Life Health Products from 22%
(directly held) to 100% (78% indirectly held through its wholly-owned subsidiary, Go Life
Global). Go Life Health Products holds 100% of Gotha Health Products.
During the period, the Company entered into an agreement with Elysium Healthcare Africa which
will ensure the Company exclusivity in the provision of generic and pharmaceutical medicines,
as well as medical equipment to 25 countries on the African continent.
Go Life International endeavours to set the trend in the global nutraceutical and cosmeceutical
markets. The proprietary technology base allows the group to expedite the formulation or creation
of novel products to extend current product lines and broaden the product. At present, Bon Health
Frail Care operates four frail care centres. Bon Health has been a leading frail care operator in
Western Cape since 2004 and is in the process of securing additional retirement and frail care
developments in the rest of South Africa. Bon Health has been invited to take over the management,
against a management fee from third party frail care facilities, both established and in the design
phase.
DIVIDENDS
No dividends were authorized or paid during the period under review.
By order of the Board
AceTer Global Limited
Company Secretary
19 July 2017
STATEMENT OF FINANCIAL POSITION
THE THE THE THE
GROUP GROUP COMPANY COMPANY
31 May 17 28 Feb 17 31 May 17 28 Feb 17
USD USD USD USD
ASSETS
Non - Current Assets 29 991 071 29 958 965 25 744 246 25 744 246
Investments in Associates/Subsidiary 849 095 820 860 25 744 246 25 744 246
Intangible Assets 22 312 860 22 312 860 0 0
Property Plant and Machinery 6 829 116 6 825 245 0 0
Current Assets 640 154 639 941 7 372 8 128
Trade and other Receivables 278 450 256 019 0 0
Cash and Cash Equivalents 361 704 383 922 7 372 8 128
TOTAL ASSETS 30 631 225 30 598 906 25 751 618 25 752 374
EQUITY
Capital and Reserves 28 361 947 28 252 003 25 684 606 25 685 362
Share Capital 33 765 570 33 765 570 33 765 570 33 765 570
Retained Income / ( Accumulated
Losses) (8 008 455) (8 118 399) (8 308 922) (8 308 166)
Non Distributable Reserves 2 376 875 2 376 875 0 0
Foreign Currency Translation Reserve 227 958 227 958 227 958 227 958
LIABILITIES
Non - Current Liabilities 2 212 436 2 177 952 0 0
Loan - Shareholders 2 212 436 2 177 952 0 0
Current Liabilities 56 842 168 950 67 012 67 012
Trade and other Payables 56 842 168 950 67 012 67 012
Tax Payable 0 0
TOTAL EQUITY AND LIABILITIES 30 631 225 30 598 906 25 751 618 25 752 374
STATEMENT OF CASH FLOWS
THE THE THE THE
GROUP GROUP COMPANY COMPANY
31 May 17 28 Feb 17 31 May 17 28 Feb 17
USD USD USD USD
Net Cash from Operating activities (24 595) 27 738 (756) 5 594
Net Cash from Investing activities 2 377 128 775 0 0
Net Cash (used in)Financing activities 0 0 0 0
(22 218) 156 513 (756) 5 594
Foreign Exchange movement 0 0
Cash and Cash equivalents - start of the period 383 922 227 409 8 128 2 534
Cash and Cash equivalents - end of the period 361 704 383 922 7 372 8 128
RECONCILIATION OF BASIC EARNINGS TO HEADLINE EARNINGS
THE GROUP
31 May 17
USD
Basic earnings 109 944
Less: -
Headline earnings 109 944
Add Back: -
Adjusted headline earnings / Distributable earnings 109 944
Weighted average number of shares 900 000 000
Basic and diluted earnings per share (USD cents) 0.00122
Basic and diluted earnings per share (USD cents) 0.0001
Adjusted headline earnings per share (USD cents) 0.0001
Interim dividend -
Final dividend -
Total dividend -
Interim dividend per share (USD cents) -
Final dividend per share (USD cents) -
Total dividend per share (USD cents) -
SEGMENTAL REPORTING – 3 MONTHS ENDED 31 MAY 2017
Nutraceutical Property Frail care Other Total
Associate Interest
USD USD USD USD USD
Statement of profit/loss
Revenue 52 513 97 694 28 235 2 565 181 008
Interest expenses - (71 064) - - (71 064)
Income Tax - - - - -
Net profit/(loss) for the period 52 513 26 631 28 235 2 565 109 944
Statement of financial position
Total Assets 22 822 587 6 959 543 849 095 - 30 631 225
Total Borrowings 2 212 436 - - - 2 212 436
SEGMENTAL REPORTING – 3 MONTHS ENDED 28 FEBRUARY 2017
Nutraceutical Property Frail care Other Total
Associate Interest
USD USD USD USD USD
Statement of profit/loss
Revenue (84 875) 335 614 51 629 - 302 368
Interest expenses - (276 010) - - (276 010)
Income Tax - - - - -
Net profit/(loss) for the period (84 875) 59 604 51 629 - 26 358
Statement of financial position
Total Assets 22 845 133 6 932 912 820 860 - 30 598 906
Total Borrowings 2 177 952 - - - 2 177 952
STATEMENT OF PROFIT / LOSS AND OTHER COMPREHENSIVE INCOME
THE GROUP THE GROUP THE COMP THE COMP
31 May 17 28 Feb 17 31 May 17 28 Feb 17
USD USD USD USD
Revenue 343 730 618 641 0 0
Expenses (193 523) (367 902) (756) (5 093)
PROFIT/ (LOSS) FROM OPERATIONS 150 207 250 739 (756) (5 093)
Share of profits - Associates 28 235 51 629
Finance Income 2 565 0
Finance Cost (71 064) (276 010)
PROFIT / (LOSS) BEFORE TAXATION 109 944 26 358 (756) (5 093)
Taxation 0 0
PROFIT/ (LOSS) FOR THE PERIOD 109 944 26 358 (756) (5 093)
Other Comprehensive Income 0 0
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 109 944 26 358 (756) (5 093)
STATEMENT OF CHANGES IN EQUITY
THE GROUP Share Currency Retained Non Distributable Total
Capital Translation Earnings Reserves
Difference
USD USD USD USD USD
Balance as at 30 December 2016 33 765 570 227 958 (8 144 757) 2 376 875 28 225 645
Total Comprehensive Income for the period 26 358 26 358
Share Capital Issued
Share Capital Cost
Revaluation of properties
Balance as at 28 February 2017 33 765 570 227 958 (8 118 399) 2 376 875 28 252 003
Balance as at 01 March 2017 33 765 570 227 958 (8 118 399) 2 376 875 28 252 003
Total Comprehensive Income for the period 109 944 109 944
Share Capital Issued
Share Capital Cost
Revaluation of properties
Balance as at 31 May 2017 33 765 570 227 958 (8 008 455) 2 376 875 28 361 947
THE COMPANY Share Currency Retained Non Distributable Total
Capital Translation Earnings Reserves
Difference
USD USD USD USD USD
Balance as at 30 December 2016 33 765 570 227 958 (8 303 073) 0 25 690 455
Total Comprehensive Income for the period (5 093) 0 (5 093)
Share Capital Issued 0
Share Capital Cost 0
Revaluation of properties
Balance as at 28 February 2017 33 765 570 227 958 (8 308 166) 0 25 685 362
Balance as at 01 March 2017 33 765 570 227 958 (8 308,166) 0 25 685 362
0
Total Comprehensive Income for the period (756) 0 (756)
Share Capital Issued 0
Share Capital Cost 0
Revaluation of properties 0
Balance as at 31 May 2017 33 765 570 227 958 (8 308 922) 0 25 684 606
Notes
The company is required to publish financial results for the three months ended 31 May 2017 in terms of the Listing Rule 12.19 of
the SEM. The abridged unaudited consolidated financial statements for the three months ended 31 May 2017 (“financial statements”)
have been prepared in accordance with the measurement and recognition requirements of IFRS, the requirements of IAS 34: Interim
Financial Reporting, the SEM Listing Rules and the JSE Listings Requirements.
The accounting policies adopted in the preparation of the financial statements are consistent with those applied in the preparation
of the audited financial statements of the 14 months 28 February 2017.
Copies of the abridged unaudited consolidated financial statements and the Statement of direct and indirect interests of each officer
of the Company, pursuant to Rule 8(2)(m) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007, are available
free of charge, upon request to the Company Secretary at the Registered Office of the Company at Beau Plan business Park, Pamplemousses
21001, Mauritius.
This communiqué is issued pursuant to SEM Listing Rules 11.3 and 12.20 and section 88 of the Securities Act of Mauritius 2005. The
Board accepts full responsibility for the accuracy of the information contained in these financial statements. The Directors are not
aware of any matters or circumstances arising subsequent to the period ended 31 May 2017 that require any additional disclosure or
adjustment to the financial statement.
For further information please contact:
Arbor Capital Sponsors
+27 (0) 11 480 8500
AceTer Global Limited
(230) 204 080
Preparer: Sebenza Accounting
SPONSOR
Arbor Capital Sponsors Proprietary Limited
Date: 19/07/2017 01:28:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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