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Abridged Audited Consolidated Financial Statements For The Fourteen Months Ended 28 February 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 Audited Consolidated Financial Statements For The Fourteen Months Ended 28 February 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
The Company successfully completed a secondary listing on the AltX 23 November 2016. During 2016, the Company
increased its shareholding in Go Life Health Products from 22% (directly held) to 100% (78% indirectly held
through its wholly-owned subsidiary, Go Life Global). Go Life Health Products holds 100% of Gotha Health Products.
Go Life also finalized the acquisition of Bon Health Frail care (100%) and Bon Health Properties (100%) and 49%
of Bon Health Operations.
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.
The Company hereby wishes to inform the general public that it has rescinded the appointment of Mr Oliver Bernhardt
as a director of the Company. Mr Bernhardt formally accepted directorship in the Company, however, he failed to
complete the necessary statutory documentation for filing. His inaction was not in the interest of the shareholders
and consequently his appointment has been rescinded.
CHANGE OF AUDITOR’S
Grant Thornton resigned as auditors on 1 September 2017 and has advised that in accordance with Section 203 of the
Mauritius Companies Act 2001, there are no circumstances connected with their resignation which should be brought to
the attention of the Shareholders or creditors of the Company. Go Life International then appointed Aejaz Nazir Associates
& Co on 11 September 2017 whom completed the audit.
DIVIDENDS
No dividends were authorized or paid during the period under review.
By order of the Board
AceTer Global Limited
Company Secretary
03 October 2017
STATEMENT OF FINANCIAL POSITION
THE THE
GROUP GROUP THE COMPANY THE COMPANY
28 Feb 2017 31 Dec 2015 28 Feb 17 31 Dec 2015
USD USD USD USD
ASSETS
Non - Current Assets 36 517 190 1 418 242 34 851 774 1 418 242
Investments in Associates/Subsidiary 849 095 1 418 242 34 851 774 1 418 242
Intangible Assets 28 857 769 - - -
Property Plant and Machinery 6 810 326 - - -
Current Assets 638 321 7 875 402 7 875
Inventories 105 035 - - -
Trade and other Receivables 144 085 5 947 312 5 947
Cash and Cash Equivalents 382 798 1 928 90 1 928
Income taxes 6 402 - - -
TOTAL ASSETS 37 155 510 1 426 117 34 852 176 1 426 117
EQUITY
Capital and Reserves 33 937 521 1 385 835 34 789 050 1 385 835
Share Capital 34 965 300 9 665 100 34 965 300 9 665 100
Revenue Deficit (1 027 779) (8 279 265) (176 250) (8 279 265)
LIABILITIES
Non - Current Liabilities 2 988 122 - - -
Loan - Shareholders 2 988 122 - - -
Current Liabilities 229 867 40 282 63 126 40 282
Trade and other Payables 229 867 40 282 63 126 40 282
TOTAL EQUITY AND LIABILITIES 37 155 510 1 426 117 34 852 176 1 426 117
STATEMENT OF CASH FLOWS
THE THE
GROUP GROUP THE COMPANY THE COMPANY
28 Feb 2017 31 Dec 2015 28 Feb 17 31 Dec 2015
USD USD USD USD
Profit/ Loss for the year 30 325 122 292 (30 317) 122 292
Depreciation 8 105 - - -
Other payables written back - (239 520) - (239 520)
Receivables written off - 96 260 - 96 260
Share of profit/ loss of associate - (28 408) - (28 408)
Net Cash from Operating activities (6 373 663) (49 376) (30 317) (49 376)
Net Cash (used in) Financing activities - - - -
Consolidation adjustment (6 373 663) - - -
Net movement before working capital changes (6 335 232) (49 376) (30 317) (49 376)
Inventories (105 036) - - -
Trade and other receivables (144 085) (3 038) 5 635 (3 038)
Trade and other payables 229 867 53 342 22 845 53 342
Net Cash from other operating activities (6 354 486) 928 (1 837) 928
Investing activities
Property, plant and equipment 2 634 987
Movement in net cash resources (3 710 499) 928 (1 837) 928
Balance at the start of the year 4 093 297 1 000 1 928 1 000
Balance at the end of the year 382 798 1 928 91 1 928
PROFIT / LOSS AND OTHER COMPREHENSIVE INCOME
THE THE THE THE
GROUP GROUP COMPANY COMPANY
28 Feb 2017 31 Dec 2015 28 Feb 17 3 1 Dec 2015
USD USD USD USD
Revenue 1 404 637 - 44 -
Expenses (1 169 783) (49 376) (58 107) (49 376)
PROFIT/ (LOSS) FROM OPERATIONS 234 854 (49 376) (58 063) (49 376)
Share of profits - Associates 51 466 28 408 - 28 408
Other payables written back 27 746 239 520 27 746 239 520
Receivables written off - (96 260) - (96 260)
314 066 122 292 (30 317) 122 292
Finance costs (283 741) - - -
PROFIT / (LOSS) BEFORE TAXATION 30 326 - (30 317) 122 292
Taxation (8 277) - - -
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 22 048 122 292 (30 317) 122 292
SEGMENTAL REPORTING – 14 MONTHS ENDED 28 FEB 2017
Please note: This is the first year of segmental reporting
Frail care
Nutraceutical Property Total
Associate
USD USD USD USD
Statement of net profit/loss
Revenue 1 017 557 335 614 51 466 1 404 637
Interest expenses - (71 064) - (71 064)
Income Tax (8 277) - - (8 277)
Adjusted Headline earnings (293 968) 264 550 51 466 22 048
Net profit/(loss) for the period
Statement of financial position
Total Assets 29 496 089 6 810 326 849 095 37 155 510
Total Borrowings - (2 988 122) - (2 988 122)
RECONCILIATION OF BASIC EARNINGS TO HEADLINE EARNINGS
THE GROUP THE GROUP
28 Feb 17 31 Dec 2015
USD USD
Basic earnings 22 048 122 292
Headline earnings 22 048 122 292
Adjusted headline earnings / Distributable earnings 22 048 122 292
Weighted average number of shares 613 089 321 96 650 100
Basic and diluted earnings per share (USD cents) 0.0036 0.13
Basic and diluted headline earnings per share (USD cents) 0.0036 0.13
Adjusted headline earnings per share (USD cents) 0.0036 0.13
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 - 22 048 22 048
Consolidation adjustments (1 049 827) (1 049 827)
Balance as at 28 February 2017 34 965 300 (1 027 779) 33 937 521
Stated Translation Revenue Total
THE COMPANY capital Reserve Deficit Equity
USD USD USD USD
Balance as at 01 January 2016 9 665 100 (524 751) (7 876 806) 1 263 543
Total Comprehensive Income for the period - - 122 292 122 292
Share Capital Issued 25 300 200 - - -
Reclassification adjustment - 524 751 (524 751) -
Balance as at 31 Dec 2016 34 956 300 - (8 279 265) 1 385 835
Balance as at 01 January 2017 34 965 300 - (8 279 265) 1 385 835
Total Comprehensive Income for the period - - (30 317) (30 317)
Share of loss of associate written back - - 8 133 332 8 133 332
Balance as at 28 February 2017 34 965 300 - (176 250) 9 488 850
Notes
The Company is required to publish financial results for the 14 months ended 28 February 2017 in terms of the
Listing Rule 12.19 of the SEM. The abridged audited consolidated financial statements for the 14 months ended
28 February 2017 (“financial statements”) have been audited by Aejaz Nazir Associates & Co 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 31 December 2015.
The prior year comparative results are for the company only as this is the first year operating as a group.
Copies of the Abridged Audited Consolidated Financial Statements For The Fourteen Months Ended 28 February 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 28 February 2017 that
require any additional disclosure or adjustment to the financial statement.
For further information please contact:
AceTer Global Limited
(230) 204 080
Arbor Capital Sponsors
+27 (0) 11 480 8500
SPONSOR
Arbor Capital Sponsors Proprietary Limited
Date: 03/10/2017 03:54:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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