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ONELOGIX GROUP LIMITED
FORMERLY
VENMIL LIMITED
("VENMIL")
REGISTRATION NO. 1998/004519/06
* AUDITED RESULTS FOR THE 9 MONTHS ENDED 31 MAY 2000
* AUDITED GROUP BALANCE SHEET AT 31 MAY 2000
CONSOLIDATED
BALANCE SHEET
AUDITED AUDITED
31 MAY 31 AUGUST
R'000 2000 1999
ASSETS
NON-CURRENT ASSETS 4 626 -
PROPERTY, PLANT AND EQUIPMENT 3 537 -
DEFERRED TAXATION 1 089 -
CURRENT ASSETS 135 417 120 854
TRADE AND OTHER RECEIVABLES 10 045 -
INVENTORIES 106 -
CASH RESOURCES 125 266 120 854
140 043 120 854
EQUITY AND LIABILITIES
EQUITY 87 971 117 919
SHARE CAPITAL AND PREMIUM 63 037 99 362
RETAINED INCOME 24 934 18 557
NON-CURRENT LIABILITIES 5 798 -
FINANCE LEASE LIABILITIES 298 -
VENDOR LIABILITIES 5 500 -
CURRENT LIABILITIES 46 274 2 935
VENDOR LIABILITIES 24 950 -
TRADE AND OTHER PAYABLES 15 040 67
TAXATION 3 204 2 868
BANK OVERDRAFT 3 080 -
140 043 120 854
NET TANGIBLE ASSET VALUE PER SHARE (CENTS) 48,6 65,2
SHARES IN ISSUE (000) 180 942 180 942
NOTE: THE NUMBER OF SHARES TO BE ISSUED OVER A TWO-YEAR PERIOD BASED ON FORWARD
PROFIT WARRANTIES IN TERMS OF THE ACQUISITION AGREEMENTS IS A MINIMUM OF 13 870
159 AND A MAXIMUM OF 130 369 180.
CONSOLIDATED INCOME STATEMENT
AUDITED AUDITED
9 MONTHS 15 MONTHS
ENDED ENDED
31 MAY 31 AUGUST
R'000 2000 1999
INTEREST RECEIVED 9 968 22 952
PROFIT ON DISPOSAL OF LISTED SECURITIES - 3 646
OPERATING EXPENSES (727) (1 391)
NET INCOME BEFORE TAXATION 9 241 25 207
TAXATION (2 864) (6 650)
ATTRIBUTABLE EARNINGS 6 377 18 557
EARNINGS PER SHARE (CENTS) 3,5 10,3
HEADLINE EARNINGS PER SHARE (CENTS) 3,5 10,3
WEIGHTED AVERAGE NUMBER OF SHARES
IN ISSUE (000) 180 942 180 942
CONDENSED CONSOLIDATED CASH FLOW STATEMENT
AUDITED AUDITED
9 MONTHS 15 MONTHS
ENDED ENDED
31 MAY 31 AUGUST
R'000 2000 1999
NET CASH GENERATED FROM OPERATIONS 6 694 21 492
NET CASH FLOW FROM INVESTING ACTIVITIES (5 110) -
NET CASH FLOW FROM FINANCING ACTIVITIES (252) 99 362
NET INCREASE IN CASH RESOURCES 1 332 120 854
CASH RESOURCES AT THE BEGINNING OF THE YEAR 120 854 -
CASH RESOURCES AT THE END OF THE YEAR 122 186 120 854
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
AUDITED AUDITED
9 MONTHS 15 MONTHS
ENDED ENDED
31 MAY 31 AUGUST
R'000 2000 1999
OPENING EQUITY 117 919 -
SHARES ISSUED AND TO BE ISSUED LESS COSTS 99 422 99 362
GOODWILL WRITTEN OFF (135 747) -
ATTRIBUTABLE EARNINGS 6 377 18 557
87 971 117 919
BACKGROUND
AT THE VENMIL SHAREHOLDERS ("SHAREHOLDERS") MEETING HELD ON FRIDAY, 8 SEPTEMBER
2000, THE SHAREHOLDERS RATIFIED INTER ALIA THE ACQUISITION OF ONELOGIX (PTY)
LIMITED BY VENMIL ("REVERSE LISTING") WITH EFFECT FROM 31 MAY 2000, THE CHANGE
OF NAME OF VENMIL LIMITED TO ONELOGIX GROUP LIMITED WITH EFFECT FROM 8
SEPTEMBER 2000 AND THE TRANSFER OF VENMIL'S LISTING TO THE INDUSTRIAL -
"SERVICE" SECTOR OF THE JOHANNESBURG STOCK EXCHANGE WITH EFFECT FROM 11
SEPTEMBER 2000. ACCORDINGLY, THESE AUDITED RESULTS REFLECT THE FOLLOWING:
ONELOGIX
THE BALANCE SHEET INCLUDES THE AUDITED CONSOLIDATED BALANCE SHEETS OF ONELOGIX
(PTY) LIMITED ("ONELOGIX") AND ITS UNDERLYING COMPANIES AND BUSINESSES ACQUIRED
BY VENMIL, EFFECTIVE FROM 31 MAY 2000, AS DETAILED IN THE CIRCULAR TO
SHAREHOLDERS DATED 16 AUGUST 2000.
VENMIL
THE OPERATING RESULTS REFLECT THE FINAL AUDITED RESULTS OF VENMIL FOR THE NINE
MONTHS ENDED 31 MAY 2000. VENMIL'S ONLY ASSET THROUGHOUT THE REPORTING PERIOD
WAS CASH.
BY PERMISSION OF THE JOHANNESBURG STOCK EXCHANGE THESE RESULTS WERE DELAYED FOR
PUBLICATION UNTIL AFTER THE REVERSE LISTING WAS EFFECTED, IN ORDER TO DISCLOSE
MORE MEANINGFUL INFORMATION.
PROSPECTS
THE MANAGEMENT OF ONELOGIX COMPRISE INDUSTRY PROFESSIONALS WHO HAVE THE VISION,
CAPABILITY AND THE COMMITMENT TO GROW THE BUSINESS ORGANICALLY AND BY STRATEGIC
ACQUISITION TO MATERIALISE THEIR AMBITION TO BECOME THE REGIONS PREFERRED
COMPREHENSIVE LOGISTICS AND SUPPLY CHAIN MANAGEMENT SERVICES GROUP. SHAREHOLDER
VALUE WILL BE ENHANCED BY CONSOLIDATING THE CURRENTLY FRAGMENTED INDUSTRY UNDER
CREDIBLE MANAGEMENT COUPLED WITH THE DEVELOPMENT OF EXISTING AND FUTURE
DOMESTIC AND INTERNATIONAL STRATEGIC ALLIANCES AND JOINT VENTURES.
CHANGE OF YEAR-END
VENMIL CHANGED ITS YEAR END FROM 31 AUGUST TO 31 MAY WITH EFFECT FROM 31 MAY
2000.
DIVIDENDS
NO FINAL DIVIDEND HAS BEEN PROPOSED FOR THE PERIOD.
YEAR 2000
NO DIFFICULTIES OF ANY NATURE WERE EXPERIENCED BY ANY OF THE GROUPS' INDIVIDUAL
COMPONENT ACTIVITIES ON THE ADVENT OF YEAR 2000.
BY ORDER OF THE BOARD
TONY WIESE
PETER FORSHAW
JOHANNESBURG
21 SEPTEMBER 2000
DIRECTORS: TONY WIESE (CHIEF EXECUTIVE OFFICER), PETER FORSHAW, ALEC GRANT*,
BENJAMIN LIEBMANN*, IAN LOURENS, JOE MODIBANE*, DANIE MEYER (FINANCIAL
DIRECTOR) (*NON-EXECUTIVE).
REGISTERED OFFICE: 5 STRUWIG STREET, JET PARK (POBOX 14410, WITFIELD, 1467)
TRANSFER SECRETARIES: MERCANTILE REGISTRARS LIMITED, 11 DIAGONAL STREET,
JOHANNESBURG, 2001 (POBOX 1053, JOHANNESBURG, 2000).
COMPANY SECRETARY: PROBITY BUSINESS SERVICES (PTY)LIMITED, UNIT C1, THE GUILD
OFFICE PARK, 2 ROAD, PARKTOWN 2193 (POBOX 85392, EMMARENTIA, 2029)
