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MINE RESTORATION INVESTMENTS LTD - Change statement and notice of AGM

Release Date: 02/08/2013 16:30
Code(s): MRI     PDF:  
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Change statement and notice of AGM

MINE RESTORATION INVESTMENTS LIMITED
(formerly Capricorn Investment Holdings Limited)
(Registration Number 1987/004821/06)
(“MRI” or “the Company” or “the Group”)
Share code: MRI         ISIN: ZAE000149951




CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING




Change statement
With regards to the financial statements for the period ended 28
February 2013, shareholders are advised that the annual report
will be distributed to shareholders on Friday, 2 August 2013
and contains a prior period reclassification when compared to
the reviewed results which were published on SENS on 28 May 2013
as follows.


In the 2010 and 2011 financial period, the MRI Group recognised
the loan due to The Industrial Development Corporation to the
amount of R5 million as other financial liabilities. As there is
no obligation to repay the R5 million loan, the loan has been
reclassified as R5 million equity. The effect on the statement
of financial position is shown below. There was no effect on the
statement of comprehensive income, earnings per share and
headline earnings per share.

Prior period reclassification

2010
Statement of financial position
                              December 2010   Reclassification   December 2010
                              as previously                        as restated
                                     stated
Group                                 R’000              R’000           R’000
Other financial liabilities          19 058            (5 000)        14 058
Total equity                        (7 773)             5 000          (2 773)

2011
Statement of financial position
                              December 2011   Reclassification   December 2011
                              as previously                        as restated
                                    stated
Group                                R’000               R’000           R’000
Other financial liabilities         22 358             (5 000)          17 358
Total equity                        15 478              5 000           20 478


Reviewed results reclassification

2013
Statement of financial position
                              February 2013   Reclassification   February 2013
                              as previously                        as restated
                                     stated
Group                                 R’000              R’000           R’000
Other financial liabilities          27 002            (5 000)          22 002
Total equity                         57 238             5 000           62 238




REVIEWED RESULTS PUBLISHED ON 28 MAY 2013
CONDENSED STATEMENT OF FINANCIAL POSITION


                                                        Group
                                         28 February 2013     31 December 2011
                                                    R’000                R’000

ASSETS

Non-current assets
Property, plant and equipment                      10 798                   10
Intangible assets                                  92 411               93 041
Investment in associate                                 -                1 000
Deferred tax                                        7 173                6 365

Current assets
Trade and other receivables                           610                   69
Cash and cash equivalents                             314                  584

Total assets                                      111 306              101 069

EQUITY AND LIABILITIES
Capital and reserves                               39 886                (952)
Non-controlling interest                           17 352               16 430
                                                   57 238               15 478
LIABILITIES
Non-current liabilities
Loan from group company                                 -               49 738
Other financial liabilities                        27 002               22 358
Deferred tax                                       25 626               13 428

Current liabilities
Current tax payable                                    33                    -
Trade and other payables                            1 407                   67

Total equity and liabilities                      111 306              101 069
RESULTS PUBLISHED IN ANNUAL REPORT

STATEMENTS OF FINANCIAL POSITION

                                                          Group
                               Notes     28 Feb 2013   31 Dec 2011   31 Dec 2010
                                               R’000         R’000         R’000
Assets
Non-Current Assets
Property, plant and
equipment                            3        10 798             8            82
Intangible assets                    4        92 411        93 043        44 514
Investments in subsidiaries          5             -             -             -
Other financial assets                             -             -             5
Investment in associate              6             -         1 000             -
Deferred tax                         7         7 173         6 365         2 377
                                             110 382       100 416        46 978
Current Assets
Loans to group companies            8              -             -             -
Trade and other receivables         9            610            69            59
Cash and cash equivalents          10            314           584           471
                                                 924           653           530
Total Assets                                 111 306       101 069        47 508
Equity and Liabilities
Equity

Capital and reserves
Share capital and share
premium                            12         76 999             -             -
Reverse acquisition                13       (31 066)             -             -
Retained income                              (6 047)         (952)       (7 773)
Equity Attributable to
Holders of Parent                             39 886         (952)       (7 773)
Equity loan                        16          5 000         5 000         5 000
Non-controlling interest           17         17 352        16 430             -
Total equity                                  62 238        20 478       (2 773)
Liabilities
Non-Current Liabilities
Loans from group companies          8              -        49 738        33 857
Other financial liabilities        15         22 002        17 358        14 058
Deferred tax                        7         25 626        13 428             -
                                              47 628        80 524        47 915
Current Liabilities
Current tax payable                               33             -             -
Trade and other payables           17          1 407            67         2 366
                                               1 440            67         2 366
Total Liabilities                             49 068        80 591        50 281
Total Equity and Liabilities                 111 306       101 069        47 508
Notice of the Annual General Meeting (AGM)
Shareholders are advised that the AGM of the Company will be
held at Route 21 Corporate Park, 45 Sovereign Drive, Ground
Floor, Unit C, Centurion at 10:00 on Wednesday, 4 September 2013
to transact the business as stated in the notice of the Annual
General Meeting forming part of the Annual Report.


Record date
The record date by which shareholders of the Company must be
registered in the Company’s securities register in order to
attend and vote at the meeting is Friday, 30 August 2013. The
last day to trade in the ordinary shares of the Company listed
on the JSE Limited’s stock exchange in order to be eligible to
vote at the Annual General Meeting will be Friday, 23 August
2013.




Pretoria


2 August 2013


Designated Advisor:
 Sasfin Capital (a division of Sasfin Bank Limited)

Date: 02/08/2013 04:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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