Sharenet Sites 
Sharenet Sites
Availability of Annual Financial Reports-BILGL
LIBERTY GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1957/002788/06)
Bond Issuer Code: BILGL
(“Liberty”) or (“the Company”)
AVAILABILITY OF LIBERTY GROUP LIMITED ANNUAL FINANCIAL STATEMENTS
As per the JSE Debt Listings Requirements, Noteholders are advised
that the Annual Financial Statements for Liberty Group Limited, a
subsidiary of Liberty Holdings Limited, for the year ended 31
December 2018 have been made available on the Company’s website:
www.libertyholdings.co.za/investor/Pages/debt-centre.aspx
Noteholders are also advised that the issuer’s audit reports were
unqualified. During 2018 a comprehensive review of the group's
long-term insurance business model was undertaken. This resulted
in a change in a key judgement relating to the appropriateness of
the disclosure of all cash flows relating to investment portfolios
backing policyholder liabilities and supporting regulatory and
group risk adjusted minimum capital levels. Consequently a change
in the presentation of the cash flow statement was effected to
better reflect these cash flows in operating activities and not in
investing activities as previously presented. The prior period
cash flow statement has consequently been restated. The impact was
a presentation change only and there is no resultant change to the
group’s total cash flows, earnings, comprehensive income,
statement of financial position, shareholders’ equity or net asset
value. Apart from the aforementioned, there were no other
restatements of the previous year’s annual or interim financial
statements.
Johannesburg
12 April 2019
Debt Sponsor
The Standard Bank of South Africa Limited
Date: 12/04/2019 11:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
