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RAR - Rare Holdings Limited - Changes to the reviewed provisional results,

Release Date: 14/11/2011 17:36
Code(s): RAR
Wrap Text

RAR - Rare Holdings Limited - Changes to the reviewed provisional results, posting of integrated annual report, notice of Annual General Meeting and posting of circular 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, NOTICE OF ANNUAL GENERAL MEETING and posting of circular Changes to the reviewed provisional results and posting of annual integrated report Shareholders are hereby advised that RARE`s 2011 integrated annual report, which includes the annual financial statements for the year ended 30 June 2011, as audited by Greenwoods Chartered Accountants and who`s unqualified audit report is available for inspection at the Company`s registered office, is being dispatched to shareholders today. There have been no changes to the reviewed provisional financial results announced on SENS on 17 October 2011, except for the following re- classifications on the cash flow statement: Before After R`000 R`000 Change Cash flows from operating activities Cash generated from/(used in) operations (721) (14 432) (13 711) Interest income 6 346 300 (6 046) Finance costs (13 314) (15 797) (2 483) Net cash from operating activities (5 940) (28 180) (22 240) Cash flows from investing activities Sale of other financial assets 13 150 8 385 (4 765) Purchase of other financial assets (39 992) (12 985) 27 007 Net cash from investing activities (53 977) (31 737) 22 242 The re-classification is a result of the disposal of its majority shareholding in the Angolan operations and thereby re-classifying it as a discontinued operation. The cash flow effects of the Angolan operations are separately disclosed in the notes to the financial statements. This re-classification had no net effect on the results of the cash flow statement. 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 2011, 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. Posting of circular Shareholders are further advised that a circular was dispatched to shareholders today, relating to inter alia the following matters: - the conversion of the Company`s par value shares into no par value shares; - the increase in the authorised no par value ordinary share capital of the Company; - the placing of the authorised but unissued ordinary share capital of the Company under the control of the directors and authority - to issue same, including the authority in terms of sections 41(1) and 41(3) of the Act; and - consequential amendments to the Company`s Memorandum of Incorporation. As set out in the notice of general meeting forming part of the aforementioned circular, shareholders are further advised that a general meeting will be held, after the conclusion of the AGM, at 12:00 on Thursday, 13 December 2011, at 22 Old Vereeniging Road, Kliprivier, Midvaal, Johannesburg to transact on the matters. Johannesburg 14 November 2011 Designated Adviser: PSG Capital (Proprietary) Limited Date: 14/11/2011 17:36:05 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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