HSP - Holdsport Limited - Unaudited pro forma statement of financial

Release Date: 06/10/2011 15:45
Code(s): HSP
 
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HSP - Holdsport Limited - Unaudited pro forma statement of financial position and statement of comprehensive income of Holdsport Holdsport Limited (Incorporated in the Republic of South Africa) (Registration number 2006/022562/06) JSE share code: HSP ISIN: ZAE000157046 ("Holdsport" or the "Company") UNAUDITED PRO FORMA STATEMENT OF FINANCIAL POSITION AND STATEMENT OF COMPREHENSIVE INCOME OF HOLDSPORT Further to the Company`s interim results, which were announced on SENS on 27 September 2011, the unaudited pro forma statement of financial position at 31 August 2010 and the statement of comprehensive income of Holdsport and its subsidiaries for the six months then ended are set out below. The unaudited pro forma financial information for the six months ended 31 August 2010 has been prepared to show the impact of the conversion of the shareholders` loans and the purchase of the minority shareholder`s interest in a subsidiary of Holdsport (the "Loan Conversions"). The unaudited pro forma statement of financial position and statement of comprehensive income have been prepared for illustrative purposes only and because of its nature may not fairly present Holdsport`s financial position and results of operations, nor the effect and impact of the Loan Conversions going forward. It has been assumed for purposes of the unaudited pro forma consolidated statement of comprehensive income and statement of financial position that the Loan Conversions took place with effect from 1 March 2010 for the purpose of the statement of comprehensive income and at 31 August 2010 for purposes of the statement of financial position. The directors of the Company are responsible for the compilation, contents and preparation of the unaudited pro forma financial information contained in the unaudited interim condensed consolidated results for the six months ended 31 August 2011 and for the financial information from which it has been prepared. Their responsibility includes determining that: the unaudited pro forma financial information has been properly compiled on the basis stated; the basis is consistent with the accounting policies of Holdsport; and the pro forma adjustments are appropriate for the purposes of the unaudited pro forma financial information disclosed in terms of the Listings Requirements. The unaudited pro forma consolidated statement of financial position and the unaudited pro forma consolidated statement of comprehensive income are presented in a manner consistent in all respects with IFRS and with the accounting policies upon which the historical financial information has been prepared. The unaudited pro forma statement of financial position and statement of comprehensive income as set out below should be read in conjunction with the independent reporting accountants` report set out below. The reporting accountants report is available for inspection at the Company`s registered office dur
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