WORKFORCE HOLDINGS LIMITED - Withdrawal of cautionary announcement and notice of adjourned annual general meeting

Withdrawal of cautionary announcement and notice of adjourned annual general meeting

WORKFORCE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 2006/018145/06)
Share code: WKF ISIN: ZAE000087847
(“Workforce” or “the Company” or “the Group”)


WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT 
AND NOTICE OF ADJOURNED ANNUAL GENERAL MEETING



WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the cautionary announcement dated 9 May 2013 and the subsequent
renewal of cautionary announcement dated 21 June 2013, and are hereby advised that the investigation
into the fraudulent acts perpetrated by senior members of management in a non-core segment of the
Group, which has now been discontinued, have been concluded.

The Group has determined that the net effect of the adjustments required to account for the fraud is a
decrease in earnings per share for the financial year ended 31 December 2012 of 2.4 cents (2011:
decrease of 2.5 cents) and a decrease in the net asset value per share at 31 December 2012 of 4.9 cents
(2011: decrease of 2.5 cents). As the adjustments are not material to the Group’s results on either a line
by line or an overall basis, the financial statements for the year ended 31 December 2012 will not be
reissued. These minor adjustments will be incorporated into the results for the financial year ended
31 December 2013, as well as in the interim results for the six months ended 30 June 2013.

Preventative measures have been implemented to avoid a recurrence of the fraudulent acts and the
appropriate disciplinary action has been taken against those involved, including the appropriate action to
recover the loss.

Accordingly, as the investigations into the fraudulent acts have been concluded and the financial effects
thereof have been determined, caution is no longer required to be exercised when dealing in the
Company’s securities.


NOTICE OF ADJOURNED ANNUAL GENERAL MEETING

Notice is hereby given that the adjourned annual general meeting of shareholders of Workforce will be
held at 10:00 on Wednesday, 24 July 2013 at 11 Wellington Road, Parktown, Johannesburg to conduct
the business stated in the notice of the annual general meeting, which was contained in the annual report
for the year 31 December 2012 that was posted to shareholders on 28 March 2013.

The board of directors of the Company determined that, in terms of section 62(3)(a), as read with section
59 of the Companies Act, 2008 (Act 71 of 2008), the record date for the purposes of determining which
shareholders of the Company are entitled to participate in and vote at the annual general meeting is
Friday, 19 July 2013. Accordingly, the last day to trade Workforce shares in order to be recorded in the
Register to be entitled to vote will be Friday, 12 July 2012.

Shareholders are further advised that the form of proxy as contained in the annual report for the year
31 December 2012 remains valid, however shareholders wishing to lodge their form of proxy with the
transfer secretary, Link Market Services South Africa Proprietary Limited, must do so by no later than
Monday, 22 July 2013. Shareholders are also able to obtain the forms of proxy, incorporating the
amended dates, from the Company’s website at www.workforce.co.za.
Johannesburg
28 June 2013

Designated Adviser
Merchantec Capital

Date: 28/06/2013 03:15:00 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.