RARE HOLDINGS LIMITED - Changes to reviewed provisional results, posting of annual report and notice of annual general meeting

Changes to reviewed provisional results, posting of annual report and notice of annual general meeting

RARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2002/025247/06
Share Code: RAR    ISIN: ZAE000092714
("the Company" or “RARE”)

CHANGES TO THE REVIEWED PROVISIONAL RESULTS, POSTING OF
INTEGRATED ANNUAL REPORT AND NOTICE OF ANNUAL GENERAL MEETING

Changes to the reviewed provisional results and posting of
annual integrated report

Shareholders are hereby advised that RARE’s 2012 integrated
annual report, which includes the annual financial statements
for the year ended 30 June 2012, as audited by Greenwoods
Chartered Accountants and who’s unmodified audit report is
available for inspection at the Company's registered office,
is being dispatched to shareholders today.

There have been no modifications to the reviewed provisional
financial results announced on SENS on 28 September 2012,
except for the following adjustments:

STATEMENT OF FINANCIAL POSITION

                                    Before     After
                                     R’000     R’000   Change
Current assets
Inventories                         56 959    60 059    3 100

Current liabilities
Trade and other payables           112 140    115 240   3 100


STATEMENT OF COMPREHENSIVE
INCOME

Operating expenses                (100 528)  (100 022)    506
Loss before taxation              (110 142)  (109 636)    506
Loss for the year from            (117 429)  (116 923)    506
continuing operations

STATEMENT OF CASH FLOW

Cash flow from operating
activities
Finance costs                      (8 428)    (9 038)   (610)
Net cash from operating           (53 914)   (54 524)   (610)
activities
Cash flow from financing
activities
Proceeds from other financial      231 839    242 431  10 592
liabilities
Repayment other financial         (179 175)  (189 157) (9 982)
liabilities
Net cash from financing             82 664    83 274     610
activities

The changes to the statement of financial position are as a
result of stock in transit not being recognised in the
provisional result, this does not affect the financial result
nor does it affect the net asset value (“NAV”) of the Company.

The changes to the statement of comprehensive income relates
to a portion of the non distributable reserve being recognised
in profit and loss on disposal of the property, this was not
reflected in the provisional results. The effect on the NAV as
well as the earnings per share is so insignificant that it had
no effect on the Companies’ earnings per share (“EPS”) and
headline earnings per share (“HEPS”).

Furthermore certain reallocations on the statement of cash
flow were also made. This was merely a reclassification and
had no effect on the NAV nor did it have any effect on the EPS
and HEPS.

Notice of Annual General Meeting

Notice is hereby given that the Annual General Meeting (“AGM”)
of RARE shareholders will be held at 10:00 on Thursday, 13
December 2012, at 22 Old Vereeniging Road, Kliprivier,
Midvaal, Johannesburg to transact the business as set out in
the notice of the Annual General Meeting included the
integrated annual report.


Johannesburg
14 November 2012
Designated Adviser:   PSG Capital Proprietary Limited

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