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Change Statement, Notice of Annual General Meeting and Availability of B-BEE Compliance Report
Acsion Limited
Incorporated in the Republic of South Africa
(Registration number 2014/182931/06)
Share code: ACS ISIN: ZAE000198289
(“Acsion” or “the Company”)
CHANGE STATEMENT, NOTICE OF ANNUAL GENERAL MEETING AND AVAILABILITY OF B-BBEE
ANNUAL COMPLIANCE REPORT
Change Statement
Shareholders are advised that the annual report for the year ended 28 February 2023 (“Integrated Report”)
was distributed to shareholders today, 7 July 2023 and is also available on the Company’s website,
https:// https://www.acsionsa.co.za/integrated_reports.htm. Save as set out below, the Integrated Report
contains no modifications to the reviewed financial results for the year ended 28 February 2023 published on
SENS on 15 June 2023 (“Reviewed Results”).
As set out in the Reviewed Results, the gross lettable area for Mall@Emba was erroneously reflected as being
24 062m2, instead of the 24 602m2 as set out in the Integrated Report. The 540m2 difference has therefore
impacted the total gross lettable area and South African retail by increasing the amounts reflected in the
Reviewed Results from 260 033m2 and 376 238m2, respectively to 260 573m2 and 376 778m2 , respectively in
the Integrated Report.
As set out in note 16, ‘Borrowings’ contained in the Integrated Report, the corporate loan-to-value covenant
includes the amount of any liabilities in respect of any lease or hire purchase contract that would, in accordance
with IFRS, be treated as a balance sheet liability. In the prior financial year as well as the Reviewed Results,
the amount reflected of 9% (2022: 10%), incorrectly excluded the lease liability per note 15 of the Integrated
Report. The amounts have been corrected to be in line with covenant requirements.
As set out in note 13, ‘Segmental Reporting’ contained in the Reviewed Results, the owner-occupied property
was erroneously included as ‘Local property operations’ in Property, plant and equipment instead of ‘Local
hotel and retail operations’ as correctly reflected in note 35, ‘Segmental Reporting’ of the Integrated Report.
There have been no changes to the statements of financial position, statement of comprehensive income,
statements of changes in equity and statements of cash flows.
Furthermore, there has been no change in net asset value, net asset value per share, tangible net asset value
per share, profit for the year, basic and diluted earnings per share and headline and diluted headline earnings
per share, when comparing the Integrated Report from the Reviewed Results.
Notice of Annual General Meeting
Notice is hereby given that the annual general meeting of shareholders of Acsion (“Annual General Meeting”)
will be held at @Sandton Hotel, 5 Benmore Rd, Benmore Gardens, Johannesburg, 2196 on Monday, 7 August
2023 at 09:00 to consider and, if deemed fit, to pass with or without modification, the business stated in the
notice of Annual General Meeting (“Notice of Annual General Meeting”), which is contained in the Annual
Report.
The salient information pertaining to the Annual General Meeting is set out below:
Issuer name Acsion Limited
Type of instrument Ordinary shares
ISIN number ZAE000198289
JSE code ACS
Meeting type Annual General Meeting
Meeting venue @Sandton Hotel,
5 Benmore Rd, Benmore Gardens,
Johannesburg, 2196
Record date – to determine which shareholders are entitled to
receive the Notice of Annual General Meeting Friday, 30 June 2023
Publication/Posting Date Friday, 7 July 2023
Last day to trade – last day to trade to determine eligible
shareholders that may attend, speak and vote at the Annual
General Meeting Tuesday, 25 July 2023
Record date – record date to determine eligible shareholders
that may attend, speak and vote at the Annual General
Meeting Friday, 28 July 2023
Meeting deadline date – (for administrative purposes), forms of
proxy for the Annual General Meeting to be lodged 09:00 on Thursday, 3 August 2023
Annual General Meeting date 09:00 on 7 August 2023
Publication of results of Annual General Meeting Tuesday, 8 August 2023
Website link www.acsionsa.co.za
Availability of B-BBEE Annual Compliance Report
Shareholders are further advised that the Company’s annual compliance report in terms of Section 13G(2) of
the Broad-Based Black Economic Empowerment Amendment Act No. 46 of 2013, is available on the
Company’s website, www.acsionsa.co.za.
Johannesburg
7 July 2023
Sponsor
Merchantec Capital
Date: 07-07-2023 05:37:00
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