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VUN - Vunani Limited - Posting of annual report and notice of annual general

Release Date: 30/06/2010 17:17
Code(s): VUN
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VUN - Vunani Limited - Posting of annual report and notice of annual general meeting VUNANI LIMITED (Incorporated in the Republic of South Africa) (Registration number 1997/020641/06) JSE code: VUN ISIN: ZAE000110359 ("Vunani") POSTING OF ANNUAL REPORT AND NOTICE OF ANNUAL GENERAL MEETING Annual financial statements: Shareholders are advised that the audited annual financial statements for the year ended 31 December 2009, which are included in the company`s annual report for that year, will be dispatched to shareholders today (30 June 2010). The annual financial statements have been issued without qualification. Detailed below are modifications contained in the annual financial statements when compared to the reviewed results for that year, which were published on SENS on 31 March 2010,which modifications did not impact the total comprehensive loss for that year. Notes Audited Adjust- Reviewed ments
31.12.09 31.12.09 R`000 R`000 R`000 Consolidated statement of comprehensive income Revenue 1 125 046 3 111 121 935 Other income 1 12 574 (3 111) 15 685 Headline loss attributable 2 (140 440) (2 496) (137 944) to equity holders Headline loss per share 2 (11.0) (0.2) (10.8) (cents) Diluted headline loss per 2 (0.2) (10.8) share (cents) (11.0) Consolidated statement of financial position Investments in associates 3 245 812 12 868 232 944 Other investments - non- 4 572 757 (40 191) 612 948 current assets Deferred tax asset 3 99 196 (5 500) 104 696 Other investments - 44 207 44 207 - current assets 4 Trade and other 4 20 583 (3 973) 24 556 receivables Trading securities - 249 (7 410) 7 659 current assets 3 Other financial 1 525 371 (42 760) 1 568 131 liabilities - non-current 5 liabilities Other financial 43 746 42 760 986 liabilities - current 5 liabilities Trade and other payables 42 979 (130) 43 109 6 Trading securities - 133 133 - current liabilities 6
Segmental reporting Revenue Financial services 7 146 441 3 112 143 329 Attributable (loss)/profit - for the year Financial services 7 (19 540) (25 576) 6 036 Investment services 7 (139 241) 25 576 (164 817) Total assets - Financial services 7 199 552 (16 976) 216 528 Investment services 7 1 702 703 16 977 1 685 726 Notes to the condensed consolidated financial results Goodwill impairment 2 (32 920) 2 496 (35 416) Financial assets and 2 42 867 (2 496) 45 363 liabilities designated at FVTPL Notes: 1 The adjustment is as a result of a reallocation of income from other income to revenue. 2 The adjustments are as a result of the reclassification of an impairment of goodwill to financial assets and liabilities designated through profit or loss. This reclassification impacts on headline loss attributable to equity holders, headline loss per share and diluted headline loss per share. 3 The adjustment is as a result of the reclassification of the impairment in 2. above and the resultant deferred tax thereon. 4 The adjustment is as a result of the reclassification between non-current and current assets. 5 The adjustment is as a result of the reclassification between non-current and current liabilities. 6 The adjustment is as a result of the reclassification of trading securities in trade and other payables. 7 The adjustments in the segmental report are attributable to the other reclassifications mentioned above. The consolidated statement of cash flows previously classified finance costs as cash flows from operating activities. These costs have been reclassified as cash flows from financing activities. The consolidated statement of cash flows is impacted as follows: Notes Restated Adjust-ments Audited as audited previously
reported 31.12.08 31.12.08 R`000 R`000 R`000 Net cash inflows from 9 165 140 108 996 56 144 operating activities Net cash outflows from 9 (298 022) - (298 022) investing activities Net cash inflows from 9 83 066 (108 996) 192 062 financing activities 31.12.09 31.12.09 R`000 R`000 R`000
Net cash 10 56 872 192 270 (135 398) inflows/(outflows) from operating activities Net cash inflows from 10 29 965 (30 148) 60 113 investing activities Net cash 10 (120 652) (162 123) 41 471 inflows/(outflows) from financing activities Notes: 8 The adjustments to the consolidated statement of cash flows for the year ended 31 December 2008 are a result of the reclassification of finance costs from cash flows from operating activities to cash flows from financing activities. 9 The adjustments to the consolidated statement of cash flows for the year ended 31 December 2009 are a result of the reclassifications detailed in notes 1 to 8 above. Notice of annual general meeting: Notice is hereby given that the annual general meeting of shareholders of the company will be held on Thursday, 19 August 2010 at 08h30 in the boardroom, Vunani Limited, 151 Katherine Street, Sandton to transact the business as stated in the notice of annual general meeting forming part of the company`s annual report. 30 June 2010 Designated Adviser Grindrod Bank Limited Joint Designated Adviser Vunani Corporate Finance Date: 30/06/2010 17:17:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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