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Distribution of integrated annual report, change statement, notice of AGM and B-BBEE compliance report
TRENCOR LIMITED
Incorporated in the Republic of South Africa
Registration No 1955/002869/06
Share Code: TRE
ISIN: ZAE000007506
(“Trencor” or “the Company”)
DISTRIBUTION OF INTEGRATED ANNUAL REPORT, CHANGE STATEMENT,
NOTICE OF ANNUAL GENERAL MEETING AND B-BBEE COMPLIANCE REPORT
DISTRIBUTION OF INTEGRATED ANNUAL REPORT
Trencor will on Monday, 3 July 2017, distribute its integrated annual report, incorporating its
audited financial statements for the year ended 31 December 2016, which are unchanged from the
reviewed provisional results released on SENS on 28 April 2017 and distributed to shareholders on
2 May 2017, save as detailed in the Change Statement below.
The integrated annual report is available on the Company’s website.
CHANGE STATEMENT
The audited financial statements in the integrated annual report contain two corrections compared to
the reviewed provisional results for the year ended 31 December 2016, namely:
(1) The amount reported as impairment losses incurred – financial assets (refer to note 3 of the
reviewed provisional results and to note 22.1 of the integrated annual report) and (2) certain line
items in the statement of cash flows. These corrections are set out below:
28 June 2017 28 April 2017
Audited Reviewed
31 December 31 December
R million 2016 2016 Change
Impairment losses incurred – financial assets 628 638 (10)
Correction of the amount disclosed as impairment losses incurred in respect of financial assets. This
change has had no effect to the group’s loss for the year and the statement of financial position.
Statement of cash flows for the year ended 31 December 2016
28 June 2017 28 April 2017
Audited Reviewed
31 December 31 December
R million 2016 2016 Change
Cash flows from operating activities
Cash generated from operations (before items listed
below) 7 479 7 465 14
Increase in container leasing equipment (7 635) (7 635) -
Finance income received 57 57 -
Finance lease income received 167 167 -
Finance expenses paid (1 236) (1 236) -
Decrease in finance leases 795 874 (79)
Receipts from long-term receivables 928 928 -
Payments to third parties in respect of long-term (49) (49) -
receivables
Dividends paid to equity holders of the company (531) (531) -
Dividends paid to non-controlling interests (231) (231) -
Income tax paid (205) (205) -
Net cash outflow from operating activities (461) (396) (65)
Cash flows from investing activities
Acquisition of property, plant and equipment (22) (22) -
Proceeds on sale of available-for-sale financial asset 36 36 -
Increase in restricted cash (372) (372) -
Net cash outflow from investing activities (358) (358) -
Cash flows from financing activities
Interest-bearing borrowings repaid (1 052) (1 052) -
Interest-bearing borrowings raised 945 945 -
Debt issuance costs incurred (88) (88) -
Net cash outflow from financing activities (195) (195) -
Net decrease in cash and cash equivalents before
exchange rate fluctuations (1 014) (949) (65)
Cash and cash equivalents at the beginning of the
period 4 241 4 241 -
Effects of exchange rate fluctuations on cash and cash
equivalents (390) (455) 65
Cash and cash equivalents at the end of the period 2 837 2 837 -
The changes noted above resulted from the recalculation of exchange rate fluctuations which were
incorrectly included as part of the cash flow movements in finance leases and trade and other
receivables included in cash generated from operations.
These adjustments resulted in an additional outflow of cash from operating activities and a decrease
in the effects of exchange rate fluctuations. There was no effect on the cash and cash equivalents at
the end of the reporting period.
NOTICE OF ANNUAL GENERAL MEETING
The annual general meeting will be held on Thursday, 10 August 2017 at Trencor, 13th Floor, The
Towers South, Heerengracht, Cape Town, commencing at 15:00 to transact the business as stated in
the notice of the annual general meeting forming part of the annual financial statements. The salient
dates pertaining to the annual general meeting are as follows:
2017
Record date to determine which shareholders are entitled to receive the
notice Friday, 23 June
Last day to trade in order to be eligible to attend and vote Tuesday, 25 July
Record date to determine which shareholders are entitled to attend and
vote Friday, 28 July
Forms of proxy to be lodged, for administrative purposes, by 15:00* on Tuesday, 8 August
* proxies not lodged by this time may be handed to the scrutineers of the annual general meeting
immediately prior to the meeting.
BROAD-BASED BLACK ECONOMIC EMPOWERMENT (‘B-BBEE’) COMPLIANCE
REPORT
Trencor’s B-BBEE annual compliance report in terms of Section 13G(2) of the B-BBEE Act is
available on the Company’s website.
Trencor Services Proprietary Limited
Secretaries
30 June 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
www.trencor.net
Date: 30/06/2017 11:33:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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