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Abridged Unaudited Consolidated Financial Statements For The Three Months
Ended 31 August 2017
GO LIFE INTERNATIONAL LIMITED
(Incorporated in the Republic of Mauritius)
(Registration number: 098177 C1/GBL)
Primary Listing SEM share code: GOLI.N0000
Secondary Listing JSE share code: GLI ISIN: MU0330N00004
(“the Company” or “Go Life International”)
Abridged Unaudited Consolidated Financial Statements For The Three Months Ended 31 August 2017
DIRECTORS’ COMMENTARY
The Company was incorporated on 1 October 2010 as a public company limited by shares under the
Mauritian Companies Act and holds a Category 1 Global Business License (License No - C110009034)
issued by the Mauritius Financial Services Commission.
Go Life International is registered in the Republic of Mauritius and was listed on the Stock Exchange
of Mauritius(SEM) on 07 July 2011.
The Company was previously structured as a PCC under the PCC Act and was converted into a limited
company and changed its name to Go Life International Limited by way of a shareholder resolution on
31 March 2015. The name change was approved on 16 June 2015 in anticipation of the inward listing on
the Alternative Exchange (“AltX”) of the Johannesburg Stock Exchange (“JSE”) and the conversion to a
limited company became effective on 03 June 2016.
PRIMARY OBJECTIVE
Go Life International was established to leverage the strength of 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. 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. After the
secondary listing on the AltX, new opportunities and strategic partners have come into being which have
now positioned Go Life International to be a full-fledged medical and healthcare services company.
COMPANY OUTLOOK
Go Life Health Products holds 100% of Gotha Health Products, Bon Health Properties (100%) and 49% of
Bon Health Operations.
Go Life Health Products focuses on nutraceuticals which aims to promote good health, aid in the
prevention of certain diseases or helps with recovery from illness. The product is still primarily sold
in the Eastern Cape but initiatives are being pursued to expand distribution channels and areas. This will
include appointing channel and other strategic partners.
Bon Health has a frail care and retirement village focus which also includes Alzheimer’s and dementia
centres. There is an international need for such facilities and Bon Health has a highly effective and
successful reputation and knowledge in managing such facilities.
On the 22nd of February 2017 the Company signed an agreement with Elysium Healthcare Africa, giving
the Company exclusive access to a full range of health products, generic medicines, services and
equipment; and also to 25 countries in which Elysium Healthcare Africa has access. This relationship
has attracted significant interest and a number of activities have commenced to progress various
opportunities.
DIVIDENDS
No dividends were authorized or paid during the period under review.
STATEMENT OF FINANCIAL POSITION
THE GROUP THE GROUP THE COMPANY THE COMPANY
31 Aug 2017 31 May 2017 31 Aug 2017 31 May 2017
USD USD USD USD
ASSETS
Non - Current Assets 36 658 985 36 621 374 34 921 774 34 817 190
Investments in
Associates/Subsidiary 998 538 957 205 34 921 774 34 817 190
Intangible Assets 28 857 769 28 857 769 - -
Property Plant and Machinery 6 802 678 6 806 400 - -
Current Assets 717 440 640 154 1831 7 372
Trade and other Receivables 334 642 278 450 451 -
Cash and Cash Equivalents 382 798 361 704 1 380 7 372
TOTAL ASSETS 37 376 425 37 261 528 34 923 605 34 824 562
EQUITY
Capital and Reserves 34 176 400 34 043 539 34 874 149 34 757 550
Share Capital 34 965 300 34 965 300 34 965 300 34 965 300
Revenue Deficit (795 900) (921 761) (91 151) (207 750)
LIABILITIES
Non - Current Liabilities 2 988 122 2 988 122 - -
Loan - Shareholders 2 988 122 2 988 122 - -
Current Liabilities 218 903 229 867 49 456 67 012
Trade and other Payables 218 903 229 867 49 456 67 012
TOTAL EQUITY AND LIABILITIES 37 376 425 37 261 528 34 923 605 34 824 562
STATEMENT OF CASH FLOWS
THE GROUP THE GROUP THE COMPANY THE COMPANY
31 Aug 2017 31 May 2017 31 Aug 2017 31 May 2017
USD USD USD USD
Profit/ Loss for the Period 119 304 109 944 117 998 109 188
Share of profit of associate (32 393) (28 535) (32 393) (28 535)
Net Cash from Operating activities 86 911 81 409 85 605 80 653
Trade and other receivables (334 642) (278 450) - -
Trade and other payables 218 903 229 867 49 456 67 012
Cash movement for the period (28 828) 32 826 36 149 13 641
Cash and cash equivalents - Start of period 415 624 382 798 13 732 91
Cash and cash equivalents – End of period 386 796 415 624 49 881 13 732
STATEMENT OF PROFIT / LOSS AND OTHER COMPREHENSIVE INCOME
THE GROUP THE GROUP THE COMPANY THE COMPANY
31 Aug 2017 31 May 2017 31 Aug 2017 31 May 2015
USD USD USD USD
Revenue 438 169 343 723 - -
Expenses (280 194) (193 523) (1 306) (756)
PROFIT/ (LOSS) FROM OPERATIONS 157 975 150 200 (1 306) (756)
Share of profits - Associates 32 393 28 408 - -
Finance Income - 2 565 - -
190 368 181 173 (1 306) (756)
Finance costs (71 064) (71 064) - -
PROFIT / (LOSS) BEFORE TAXATION 119 304 110 109 119 304 109 944
Taxation - - - -
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 119 304 110 109 117 998 109 188
SEGMENTAL REPORTING – 3 MONTHS ENDED 31 AUG 2017
Nutraceutical Property Frail care Total
Associate
USD USD USD USD
Statement of net profit/loss
Revenue 216 938 188 838 32 393 438 169
Interest expenses - (71 064) - (71 064)
Income Tax - - - -
Adjusted Headline earnings (20 049) 105 654 32 393 117 998
Net profit/(loss) for the period
Statement of financial position
Total Assets 29 582 209 6 802 678 998 538 37 383 425
Total Borrowings - (2 988 122) - (2 988 122)
SEGMENTAL REPORTING – 3 MONTHS ENDED 31 MAY 2017
Frail care
Nutraceutical Property Associate Total
USD USD USD USD
Statement of net profit/loss
Revenue 147 037 168 458 28 235 343 730
Interest expenses - (71 064) - (71 064)
Income Tax - - - -
Adjusted Headline earnings (16 441) 97 394 28 235 109 188
Net profit/(loss) for the period
Statement of financial position
Total Assets 29 497 923 6 806 400 957 205 37 261 528
Total Borrowings - (2 988 122) - (2 988 122)
RECONCILIATION OF BASIC EARNINGS TO HEADLINE EARNINGS
THE GROUP THE GROUP
31 Aug 2017 31 May 2017
USD USD
Basic earnings 117 998 109 188
Headline earnings 117 998 109 188
Adjusted headline earnings / Distributable earnings 117 998 109 188
Weighted average number of shares 900 000 000 900 000 000
Basic and diluted earnings per share (USD cents) 0.0131 0.0121
Basic and diluted headline earnings per share (USD cents) 0.0131 0.0121
Adjusted headline earnings per share (USD cents) 0.0131 0.0121
STATEMENT OF CHANGES IN EQUITY
Stated Revenue Total
THE GROUP Capital Deficit Equity
USD USD USD
Consolidation adjustment on acquisition of investment 34 965 300 - 34 965 300
Total Comprehensive Income for the period - 117 998 117 998
Consolidation adjustments (918 591) (918 591)
Balance as at 31 August 2017 34 965 300 (800 593) 34 164 707
Stated Translation Revenue Total
THE COMPANY capital Reserve Deficit Equity
USD USD USD USD
Balance as at 01 March 2017 34 956 300 - (176 250) 9 488 850
Total Comprehensive Income for the period - - 109 188 109 188
Share Capital Issued - - - -
Reclassification adjustment - - - -
Balance as at 31 May 2017 34 956 300 - (67 062) 9 598 038
Balance as at 01 June 2017 34 965 300 - (67 062) 9 598 038
Total Comprehensive Income for the period - - 117 998 117 998
Balance as at 28 February 2017 34 965 300 - 50 936 9 716 036
Notes
The Company is required to publish financial results for the 3 months ended 31 August 2017 in terms of the
Listing Rule 12.19 of the SEM. The abridged unaudited consolidated financial statements for the 3 months
ended 31 August 2017 (“financial statements”) have been prepared in accordance with the measurement and
recognition requirements of IFRS, the requirements of IAS 34: Interim Financial Reporting and the SEM
Listing Rules and the JSE Listing 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 year ended 28 February 2017.
Copies of the Abridged Unaudited Consolidated Financial Statements for The 3 Months Ended 31 August 2017 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 August 2017 that require any additional disclosure or adjustment to the financial statement.
By order of the Board
AceTer Global Limited
Company Secretary
13 October 2017
For further information please contact:
AceTer Global Limited Arbor Capital Sponsors
(230) 204 080 +27 (0) 11 480 8500
SPONSOR
Arbor Capital Sponsors Proprietary Limited
Date: 13/10/2017 02:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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