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Supplementary Announcement to the 2019 Annual Financial Statements
AFRICAN EQUITY EMPOWERMENT
INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: AEE
ISIN: ZAE000195731
("AEEI" or "the Company")
Supplementary Announcement To The 2019 Annual Financial Statements
AEEI shareholders are referred to the announcement released by Ayo Technology
Solutions Limited (“AYO”) on 11 March 2020 (“AYO Supplement Announcement”) regarding
the release by AYO of a supplement (“AYO Supplement”) to the annual financial
statements for the year ended 31 August 2019 (“AYO 2019 AFS”) as a result of AYO
noting certain disclosure changes were not incorporated into the aforementioned annual
financial statements of AYO.
AYO confirmed in the AYO Supplement announcement that the disclosure changes affected
only certain notes to the AYO 2019 AFS and had no impact on the statement of financial
position, the statement of profit or loss and other comprehensive income, the
statement of changes in equity, the statement of cash flows, earnings per share and
headline earnings per share in respect of the AYO 2019 AFS.
As AEEI consolidates AYO as its subsidiary for IFRS reporting purposes, which includes
the consolidation of all note disclosures to the annual financial statements, BDO
South Africa Inc. undertook an exercise (“AYO supplement impact review”) to ascertain
the impact the AYO Supplement would have on the annual financial statements of AEEI
group and its subsidiaries (“AEEI 2019 AFS”).
BDO South Africa Inc. have completed the AYO supplement impact review and the Company
can confirm that the AYO Supplement will have no impact on the statement of financial
position, the statement of profit or loss and other comprehensive income, the
statement of changes in equity, the statement of cash flows, earnings per share and
headline earnings per share in respect of the AEEI 2019 AFS. The AYO Supplement will
only affect the disclosure made in certain notes to the AEEI 2019 AFS.
The changes required to be made to the notes to the AEEI 2019 AFS will be disclosed
in a supplement (“AEEI Supplement”) which is expected to be completed and made
available on the Company’s website by Thursday, 30 April 2020.
Shareholders are referred to the announcement released on SENS on 23 March 2020
regarding the postponement of the Company’s annual general meeting (“AGM”) to
Thursday, 16 April 2020. Shareholders are advised that the AGM will proceed tomorrow
as announced and shareholders wishing to attend are referred to the announcement
released on SENS on 14 April 2020 setting out details of how shareholders can
participate electronically at the AGM.
15 April 2020
Sponsor
Vunani Capital
Date: 15-04-2020 05:15:00
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