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ZPT - Zaptronix Limited - Change statement, notice of Annual General Meeting and reportable irregularity ZAPTRONIX LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1997/014928/06) (Share Code: ZPT ISIN Code: ZAE000070934) ("Zaptronix" or "the Company") CHANGE STATEMENT, NOTICE OF ANNUAL GENERAL MEETING AND REPORTABLE IRREGULARITY 1. Change Statement Shareholders are advised that the annual financial statements ("AFS") of Zaptronix were distributed today, and contain no modifications to the reviewed results for the year ended 31 August 2011 published on SENS on 20 December 2011 ("SENS announcement") save for the segment report which contains errors and the segmental reporting of the I to I assets following the restatement of the 2010 results, which has been corrected in the AFS as detailed below: Condensed Segment Report SENS AFS Difference announcement
Segment revenue: Fleet management (Duo SP 29 953 8 121 21 832 and Zaptronix Systems) RMS Technology 323 2 092 (1 769) Zaptronix (Metering and 1 113 1 113 - Corporate) I to I assets 18 293 (18 293) Internal segment revenue (1 769) (1 769) - External revenue total 29 620 27 850 1 770 Operating (loss)/ profit segment results (before taxation): Fleet management (Duo SP (1 906) 136 (2042) and Zaptronix Systems) RMS Technology 91 91 - Zaptronix (Metering and (7 674) (7 673) (1) Corporate) I to I assets - 2043 2043 Total (9 489) (9 489) - - Segment assets: - Fleet management (Duo SP 7 467 21 147 (13 680) and Zaptronix Systems) RMS Technology 5 008 6 193 (1 185) Zaptronix (Metering and 11 510 7 976 3 534 Corporate) I to I assets - 6565 (6565) Eliminations - (16 862) 16 862 Total 23 985 25 019 (1 034) 2. Notice of Annual General Meeting Notice is hereby given that the annual general meeting of shareholders will be held at 10:00 on Tuesday, 27 March 2012 in the boardroom of the company at Solution House, Gazelle Close, Corporate Park South, Midrand, Gauteng. 3. Reportable irregularity In the reviewed results published on SENS on 20 December 2011 a reportable irregularly was disclosed. Shareholders` attention is further drawn to the following: During the year liabilities owing to the South African Revenue Service ("SARS"), relating to employees tax and VAT have remained unpaid. The total liability including interest and penalties is R5.1 million, which amount is included in note 31 of the AFS posted today. This matter has been reported by the auditors as a reportable irregularity and it is currently ongoing. Subsequent to year-end the amount owing to SARS as described above was reduced by R 1.2 million in the form of a long outstanding VAT refund owing to Zaptronix which in turn reduced the amount owing to SARS to R 3.9 million. Final settlement terms are currently being negotiated with SARS. 29 February 2012 Midrand Designated Advisor: Exchange Sponsors Date: 29/02/2012 14:33:01 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.
