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Abridged unaudited interim financial statements for the quarter ended 30 June 2012
Rockcastle Global Real Estate Company Limited
Incorporated in the Republic of Mauritius
Reg no 108869 CI/GBL
ISIN MU0364N00003
Primary listing SEM
SEM code Rock.N0000
Secondary listing JSE
JSE code ROC
(“Rockcastle” or “the Company”)
Abridged unaudited interim financial statements for the quarter ended 30 June 2012
Statement of financial position
Unaudited
June 2012
USD
ASSETS
Non-current assets 4 249 106
Investments 4 249 106
Current assets 3 620 692
Trade and other receivables 2 587
Cash and cash equivalents 3 618 105
Total assets 7 869 798
EQUITY AND LIABILITIES
Total equity attributable to equity holders 6 129 825
Stated capital 6 201 000
Currency translation reserve 21 414
Retained earnings (92 589)
Total liabilities 1 739 973
Non-current liabilities 1 642 299
Interest-bearing borrowings 1 642 299
Current liabilities 97 674
Trade and other payables 97 674
Total equity and liabilities 7 869 798
Statement of comprehensive income
Unaudited for the
three months
ended June 2012
USD
Distributable income from equity investments 16 108
Fair value gain on equity investments 122 486
Administrative expenses (20 887)
Listing costs (210 358)
Loss before net finance income (92 651)
Net finance income 62
Finance income 1 171
Finance costs (1 109)
Loss before income tax expense (92 589)
Income tax expense –
Loss for the period attributable to equity holders (92 589)
Total comprehensive loss for the period (92 589)
Basic earnings per share and headline earnings per share
(USD cents) (1,49)
Net asset value per share (USD cents) 98,85
Reconciliation of loss for the period to amount available for distribution
Unaudited for the
three months
ended June 2012
USD
Basic earnings and headline earnings (shares) –
loss for the period attributable to equity holders (92 589)
Fair value gain on equity investments (122 486)
Listing costs 210 358
Amount available for distribution (4 717)
Less: dividend declared –
Basic earnings per share and headline earnings per share are based on the weighted average of 6 201 000 shares in
issue during the period.
Rockcastle has no dilutionary instruments in issue.
Statement of cash flows
Unaudited for the
three months
ended June 2012
USD
Cash outflow from operating activities (77 160)
Cash outflow from investing activities (4 148 034)
Cash inflow from financing activities 7 843 299
Increase in cash and cash equivalents 3 618 105
Cash and cash equivalents at beginning of period –
Cash and cash equivalents at end of period 3 618 105
Cash and cash equivalents consist of:
Current accounts 3 618 105
Segmental reporting
Unaudited for the
three months
ended June 2012
USD
Loss before income tax expense
Australia 61
Canada –
Europe 31 219
Great Britain 17 773
Hong Kong 6 190
Singapore 42 415
United States 40 998
Corporate (231 245)
(92 589)
Total assets
Australia 549 473
Canada 276 748
Europe 2 790 209
Great Britain 571 170
Hong Kong 554 681
Singapore 1 151 578
United States 1 975 939
7 869 798
Statement of changes in equity
Stated capital Currency Retained Total
USD Translation Earnings USD
Unaudited for the three reserve USD
months ended June 2012 USD
Issue of shares (6 201 000
shares of USD 1.00)
– 1 000 shares of USD 1.00 1 000 1 000
– 6 200 000 shares of USD
1.00 6 200 000 6 200 000
Total comprehensive loss
for the period (92 589) (92 589)
Currency translation
movement 21 414 21 414
Balance at 30 June 2012 6 201 000 21 414 (92 589) 6 129 825
NOTES
The abridged unaudited interim financial statements for the quarter ended 30 June 2012 have been prepared in
accordance with the measurement and recognition requirements of IFRS, the information contained in IAS 34: Interim
Financial Reporting, and the JSE Listing Requirements.
The abridged unaudited interim financial statements have not been reviewed or reported on by the Company’s
auditors.
These abridged unaudited interim financial statements were approved by the Board of Directors on 13 August 2012.
Copies of the abridged unaudited interim 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 at the Registered Office of the Company at Level 3, Alexander House,
35 Cybercity, Ebene, Mauritius.
Contact person: Mr Kesaven Moothoosamy
COMMENTS ON RESULTS
The Company was incorporated on 30 March 2012 and the first capital raising was concluded during the course of
June 2012. Accordingly, the company has only been able to generate income for a short period of time, and the loss
for the period is attributable to this fact.
OUTLOOK
The board expects trading conditions to be in line with those outlined in the Listing Particulars. There will be no
distribution payable for the period ended June 2012. The first distribution will be paid for the period ending 31
December 2012.
By order of the board
Intercontinental Trust Limited
Company Secretary
13 August 2012
This communique is issued pursuant to SEM Listing Rules 12.20 and section 88 of the Securities Act 2005. The Board
of Directors accept full responsibility for the accuracy of the information contained in these abridged unaudited
interim financial statements. The directors are not aware of any matters or circumstances arising subsequent to the
interim period that require any additional disclosure or adjustment to the abridged unaudited interim financial
statements.
JSE sponsor
Java Capital
Date: 14/08/2012 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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