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AWT - Awethu Breweries Limited - Change statement and notice of annual general meeting Awethu Breweries Limited (Incorporated in the Republic of South Africa) (Registration number 1992/004352/06) JSE code: AWT ISIN code: ZAE000013769 ("Awethu" or "the Company") CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING The integrated annual report, containing the audited annual financial statements for the Company for the year ended 30 June 2011, has been dispatched to shareholders today, 31 December 2011 and contains the following changes to the reviewed results published on SENS on 2 November 2011 and in the press on 2 November 2011: Condensed Statement of Comprehensive Income Was Is Change R R R Continuing operations Revenue 814 077 814 077 Nil Cost of Sales (807 687) (807 687) Nil Gross profit 6 390 6 390 - Other income - - - Operating expenses (1 736 304) (2 332 447) 596 143 Operating (loss) (1 729 914) (2 326 057) 596 143 Investment revenue 17 071 17 071 Finance costs - (25 016) (25 016) (Loss)from continuing operations (1 712 843) (2 334 002) 621 159 Discontinued operations Profit from discontinued operations 3 099 957 3 099 957 Nil Total comprehensive income 1 387 114 765 955 621 159 Basic earnings/(loss) per share (cents) 1.64 0.91 (0.73) Reconciliation between basic earnings and headline loss: Net profit for the year 1 387 114 765 955 621 159 Discontinued operations (3 099 957) (3 099 957) Nil Headline loss for the year (1 712 843 (2 334 002) 621 159 Headline loss per share (cents) (2.03) (2.76) (0.73) Weighted average number of shares On which : Basic earnings is based 84 556 909 84 556 909 Headline loss per share is based 84 556 909 84 556 909 Condensed Statement of Changes in Equity Share Share Total share Accumulated Total Capital Premium Capital Loss Equity R R R R R Was: Balance at 01 July 2010 845 569 9 901 507 10 747 076 (15 879 922) (5 132 846) Changes in equity Total comprehensive income for the year - - - 1 387 114 1 387 114 Balance at 30 June 2011 845 569 9 901 507 10 747 076 (14 492 808)(3 745 732) Is: Balance at 01 July 2010 845 569 9 901 507 10 747 076 (15 879 922) (5 132 846) Changes in equity Total comprehensive profit for the year - - - 765 955 765 955 Balance at 30 June 2011 845 569 9 901 507 10 747 076 (15 113 967)(4 366 891) Condensed Statement of Financial Position WAS IS Change R R R Assets Non-Current Assets Property, plant and equipment 3 805 859 3 184 699 621 160 Current Assets Inventories - - Nil Trade and other receivables 119 998 119 998 Nil Cash and cash equivalents 361 725 361 725 Nil Investment debtor 3 017 071 3 017 071 Nil 3 498 794 3 666 422 Non-current assets held for sale and Assets of disposal groups - - Total Assets 7 304 653 6 683 493 621 160 Equity and Liabilities Equity Share capital 10 747 076 10 747 076 Nil Accumulated loss (14 492 808) (15 113 967) 621 159 (3 745 732) (4 366 891) Liabilities Non-Current Liabilities Loans from shareholders 8 131 585 8 131 585 Nil Current Liabilities Trade and other payables 1 841 442 1 841 441 1 Provisions 1 077 358 1 077 358 Nil 2 918 800 2 918 799 Total Liabilities 11 050 385 11 050 385 Total Equity and Liabilities 7 304 653 6 683 493 621 160 Condensed Statement of Cash Flows WAS IS Change R R R Cash flows from operating activities Cash used in operations 285 846 (768 587) 1 054 433 Cash flows of held for sale/ discontinued (2 368 321) - (2 368 321) Finance costs - (25 016) 25 016 Adjustment to assets held for Sale 120 040 - 120 040 Net cash from operating activities(1 962 435) (793 603) 1 168 832 Cash flows from investing activities Sale of discontinued operations 6 500 000 5 348 239 1 151 761 Interest Income 17 071 17 071 Nil Net cash from investing activities 6 517 071 5 365 310 1 151 761 Cash flows from financing activities Repayment of shareholders loan (1 193 127) (1 193 127) Nil Investment debtor (3 000 000) (3 017 071) 17 071 Net cash from financing activities(4 193 127) (4 210 198) 17 071 Total cash movement for the year 361 509 361 509 Cash at the beginning of the year 216 216 Total cash at end of the year 361 725 361 725 The differences were due to reallocations that arose out of the final audit. The annual financial statements were audited by the Company`s auditors, Grant Thornton, and their unmodified report is available for inspection at the Company`s registered office. The annual report contains a notice of annual general meeting for the Company, which will be held on Tuesday, 8 February 2012 at 09h30 (or at any adjournment or postponement thereof) at 203 Allan Road, Glen Austin, Midrand, to transact the business as stated in the annual general meeting notice forming part of the integrated annual report. The board of directors of the Company has determined, in accordance with Section 59 of the Companies Act, 71 of 2008, as amended, that the record date for shareholders to be recorded as shareholders in the securities register of the Company in order to: (i) be entitled to receive the notice of annual general meeting is Friday, 23 December 2011, and (ii) be entitled to attend, speak and vote at the annual general meeting is Friday, 27 January 2012. The last date to trade to be entitled to attend, speak and vote at the annual general meeting is Friday, 20 January 2012. Vanderbijlpark 3 January 2012 Sponsor Deloitte & Touche Sponsor Services (Pty) Limited Date: 03/01/2012 15:08:00 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.
