Wrap Text
Unaudited interim results for the six months ended 30 June 2013 and cash dividend declaration
Mpact Limited
(Incorporated in the Republic of South Africa)
(Company registration number: 2004/025229/06)
Income tax number: 9003862175
JSE share code: MPT JSE ISIN: ZAE000156501
("Mpact" or "the Group" or "the Company")
UNAUDITED INTERIM RESULTS
for the six months ended 30 June 2013
and cash dividend declaration
HIGHLIGHTS
- Revenue of R3.5 billion up 9.7%
- Underlying operating profit up 6.1% to R236 million
- Underlying earnings per share up 20.9% to 77.0 cents
- Return on Capital Employed (ROCE) of 15.5% (June 2012: 14.1%)
- Interim gross cash dividend declared of 22.0 cents per share up 10%
COMPANY PROFILE
Mpact is a leading manufacturer of paper and plastics packaging in Southern Africa. The Paper business is integrated
across the recycled paper-based corrugated packaging value chain and comprises three divisions being Recycling,
Paper Manufacturing and Corrugated. The Plastics business manufactures rigid plastic packaging for the food,
beverage, personal care, home care, pharmaceutical, agricultural and retail markets. Products include PET preforms,
bottles and jars; plastic jumbo bins, wheelie bins, and crates; plastic containers for the Fast Moving Consumer Goods
(FMCG) market; and styrene and PET trays, fast food containers and clear plastic films. The Group employs 3,760
people in 32 operations in South Africa, Namibia, Mozambique and Zimbabwe.
COMMENTARY
The results for the six months ended 30 June 2013 reflect subdued GDP and consumer spending growth in South
Africa, which led to a very competitive trading environment. The weaker rand provided some relief, improving the
relative competitive position of the Group's manufactured products compared to imported substitutes, and also
supported growth in packaging for fruit exports, which remained robust during the period. However, these benefits
were offset by increases in raw material prices, most notably plastic polymers, pulp and chemicals, which were not fully
recovered in selling prices during the period under review.
GROUP PERFORMANCE
Group revenue of R3,520 million is 9.7% higher than the comparable prior period, attributable mainly to volume
growth in the Plastics business and higher average selling prices. External sales volumes increased by 2.5% over the
same period last year.
Underlying operating profit increased by 6.1% to R236 million. The under recovery of raw material price increases
led to the operating profit margin decreasing to 6.7% from 6.9% in the comparable prior year period.
Underlying earnings per share improved by 20.9% to 77.0 cents compared to the prior period as a result of the
increase in operating profit, lower finance costs and a lower effective tax rate.
ROCE increased to 15.5% (June 2012: 14.1%).
Paper business
Revenue for the period is up 6.9% to R2,551 million with external sales volume growth of 1.3% reflecting the
underlying market conditions. Average selling prices were influenced by good sales volume growth in higher value
products such as white top kraft liner and fruit boxes, yielding a favourable product mix variance.
Underlying operating profit increased by 8.9% to R251 million compared to the prior period as a result of stringent
cost control and higher average selling prices.
Plastics business
Revenue increased by 17.7% to R969 million mainly due to sales volume growth of 14.1%, of which approximately
1% is due to acquisitions. The preforms and closures business benefited from good growth in the beverage sector
while growth in the agricultural sector benefited the styrene and bulk bin businesses.
Underlying operating profit decreased by 7.6% to R34 million compared to prior period due primarily to the under
recovery of raw material cost increases during the period.
Special items
There were no special items reported in the six months to 30 June 2013. In the comparable prior period, special items
charged to the Statement of Comprehensive Income amounted to R5,4 million relating to a settlement charge on the
defined benefit pension plan.
Net finance costs
Net finance costs of R59,6 million were lower than the comparable prior period by 6.4% due to lower average net debt
and lower average interest rates during the period.
Tax
The effective tax rate is 28.6% (June 2012: 31.4%). The rate was affected by the repayment in 2012 of a loan on which
the interest was not tax deductible.
Earnings per share
Basic earnings and headline earnings per ordinary share for the six months ended 30 June 2013 were 77.0 cents
(June 2012: 61.3 cents) and 76.7 cents (June 2012: 61.2 cents), respectively. Underlying earnings per share increased
from 63.7 cents to 77.0 cents over the same period.
Net debt
Net debt at 30 June 2013 was R1,482 million, an increase of R100 million from 30 June 2012. The increase in net
debt is due primarily to working capital outflows at the end of June 2013. Average net debt was 4.3% lower than the
comparable prior year period.
Cash dividend
The Board has declared an interim gross cash dividend of 22.0 cents (June 2012: 20.0 cents) per ordinary share payable
on 16 September 2013. The dividend has been declared from income reserves. Dividend withholding tax rate is 15%
and Mpact has no STC credits. The net interim dividend amount is 18.70 cents per share for shareholders liable to pay
Dividends Tax and 22.0 cents per share for shareholders exempt from paying Dividends Tax. The number of shares in
issue at the date of declaration is 163,575,656.
The salient dates for the interim dividend are as follows:
Last day to trade to receive a dividend Friday, 6 September 2013
Shares commence trading "ex" dividend Monday, 9 September 2013
Record date Friday, 13 September 2013
Payment date Monday, 16 September 2013
Share certificates may not be dematerialised or rematerialised between Monday, 9 September 2013 and Friday,
13 September 2013, both days inclusive.
OUTLOOK
It is expected that GDP and consumer spending growth will remain subdued in South Africa and cost increases for
labour, electricity and other administered services will be higher than inflation for the foreseeable future. Consequently,
the Group expects trading conditions to remain highly competitive with associated margin pressures.
The weaker rand should improve Mpact's competitive position relative to imports, although the benefits may be offset
to some extent by related increases in input costs such as plastic polymers, paper, pulp, transport and chemicals.
Our focus will be on profitability, cash generation and return on capital employed. The Group will also look to further
develop its strong market positions, to improve productivity and to find new business opportunities.
We remain confident that our strategy and record of execution position the Group well in the sectors in which it
operates.
Change in directorate
There has been no change in directorate for the period ended 30 June 2013.
AJ Phillips BW Strong
Chairman Chief Executive Officer
14 August 2013
COMPANY INFORMATION
Directors:
Independent Non-Executive:
AJ Phillips (Chairman), NP Dongwana, NB Langa-Royds, TDA Ross, AM Thompson
Executive:
BW Strong (Chief Executive Officer), BDV Clark (Chief Financial Officer)
Company secretary:
MN Sepuru
Registered office:
4th Floor, No. 3 Melrose Boulevard, Melrose Arch, 2196
(Postnet Suite #179, Private Bag X1, Melrose Arch, 2076)
Transfer secretaries:
Link Market Services South Africa Proprietary Limited
13th Floor, Rennie House, 19 Ameshoff Street, Braamfontein, 2001
(PO Box 4844, Johannesburg, 2000, South Africa)
Sponsor:
Rand Merchant Bank (a division of FirstRand Bank Limited)
1 Merchant Place, corner Fredman Drive and Rivonia Road, Sandton, 2196
(PO Box 786273, Sandton, 2146)
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(Unaudited) (Unaudited) (Audited)
As at As at As at
30 June 30 June 31 December
2013 2012 2012
Note Rm Rm Rm
ASSETS
Non-current assets 3,223.6 3,125.0 3,143.1
Property, plant and equipment 2,058.2 1,956.9 1,999.2
Goodwill and other intangible assets 1,053.2 1,053.2 1,057.1
Other non-current financial assets and
investment in equity accounted investees 103.2 104.6 80.8
Deferred tax assets 9.0 10.3 6.0
Current assets 2,502.4 2,446.3 2,693.4
Inventories 883.9 718.4 826.7
Trade and other receivables 1,526.9 1,436.7 1,467.2
Cash and cash equivalents 91.6 291.2 399.5
Total assets 5,726.0 5,571.3 5,836.5
EQUITY AND LIABILITIES
Capital and reserves
Stated capital 9 2,326.0 2,334.1 2,326.0
Other reserves 42.8 26.3 11.2
Retained earnings 260.0 23.6 215.6
Equity attributable to the equity holders
of Mpact 2,628.8 2,384.0 2,552.8
Non-controlling interests in subsidiaries 75.2 84.2 89.6
Total equity 2,704.0 2,468.2 2,642.4
Non-current liabilities 1,388.1 1,292.8 1,353.0
Long-term borrowings 10 1,118.5 1,124.9 1,122.3
Retirement benefit obligations 64.7 60.5 63.1
Deferred tax liabilities 204.9 88.3 161.4
Other non-current liabilities – 19.1 6.2
Current liabilities 1,633.9 1,810.3 1,841.1
Short-term borrowings and bank overdraft 10 454.8 548.3 332.8
Trade and other payables and provisions 1,173.8 1,252.3 1,506.8
Current tax liabilities 5.3 9.7 1.5
Total equity and liabilities 5,726.0 5,571.3 5,836.5
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(Unaudited) (Unaudited) (Audited)
Six months ended 30 June 2013 Six months ended 30 June 2012 Year ended 31 December 2012
Rm Rm Rm
Before Special After Before Special After Before Special After
special items special special items special special items special
Note items (note 6) items items (note 6) items items (note 6) items
Revenue 4 3,519.5 – 3,519.5 3,209.8 – 3,209.8 6,820.8 – 6,820.8
Cost of sales (2,156.3) – (2,156.3) (1,944.8) – (1,944.8) (4,079.7) – (4,079.7)
Gross margin 1,363.2 – 1,363.2 1,265.0 – 1,265.0 2,741.1 – 2,741.1
Administration and other operating
expenditure (1,127.3) – (1,127.3) (1,042.7) (5.4) (1,048.1) (2,156.4) (6.0) (2,162.4)
Operating profit 5 235.9 – 235.9 222.3 (5.4) 216.9 584.7 (6.0) 578.7
Share of equity accounted investees' profit 4.0 – 4.0 2.2 – 2.2 8.6 – 8.6
Total profit from operations and
equity accounted investees 239.9 – 239.9 224.5 (5.4) 219.1 593.3 (6.0) 587.3
Net finance costs (59.6) – (59.6) (63.7) – (63.7) (127.8) – (127.8)
Finance costs 7 (63.1) – (63.1) (71.5) – (71.5) (137.7) – (137.7)
Investment income 3.5 – 3.5 7.8 – 7.8 9.9 – 9.9
Profit/(loss) before tax 180.3 – 180.3 160.8 (5.4) 155.4 465.5 (6.0) 459.5
Tax (charge)/credit (51.5) – (51.5) (50.3) 1.5 (48.8) (139.7) 1.7 (138.0)
Profit/(loss) for the period from
continuing operations 128.8 – 128.8 110.5 (3.9) 106.6 325.8 (4.3) 321.5
Other comprehensive income/(loss),
net of taxation 11.8 0.3 (4.3)
Effect of cash flow hedges 12.0 – (4.7)
Actuarial (losses)/gains and surplus restrictions
on post-retirement benefit schemes – – (1.1)
Exchange differences on translation
of foreign operations 3.2 0.3 (0.1)
Taxation on other comprehensive income (3.4) – 1.6
Total comprehensive income 140.6 106.9 317.2
Profit attributable to:
Equity holders of Mpact 126.1 100.6 308.8
Non-controlling interests in subsidiaries 2.7 6.0 12.7
Profit for the period 128.8 106.6 321.5
Comprehensive income attributable to:
Equity holders of Mpact 137.9 100.9 304.5
Non-controlling interests in subsidiaries 2.7 6.0 12.7
Total comprehensive income 140.6 106.9 317.2
Earnings per share (EPS) attributable
to equity holders of Mpact 8
Basic EPS (cents) 77.0 61.3 188.5
Diluted EPS (cents) 76.5 61.3 187.9
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Post- Retained Total
Share-based Cash flow retirement earnings/ attributable to Non-
Stated payments hedge benefits Other (accumulated equity holders controlling Total
capital reserves reserves reserves reserves^ loss) of Mpact interests equity
Rm Rm Rm Rm Rm Rm Rm Rm Rm
Balance 1 January 2012 (audited) 2,334.1 1.8 – 17.1 (41.4) (10.5) 2,301.1 110.9 2,412.0
Total comprehensive income – – – – 0.3 100.6 100.9 6.0 106.9
Dividends paid – – – – – (65.6) (65.6) – (65.6)
Decrease in non-controlling interest and put option exercised – – – – 45.8 (0.9) 44.9 (29.7) 15.2
Share scheme charges for the period – 2.7 – – – – 2.7 – 2.7
Dividends paid to non-controlling shareholders – – – – – – – (3.0) (3.0)
Balance at 30 June 2012 (unaudited) 2,334.1 4.5 – 17.1 4.7 23.6 2,384.0 84.2 2,468.2
Total comprehensive income – – (3.4) (0.8) (0.4) 208.2 203.6 6.7 210.3
Dividends paid – – – – – (32.7) (32.7) – (32.7)
Share buy back (8.1) – – – – – (8.1) – (8.1)
Share scheme charges for the period – 5.8 – – – – 5.8 – 5.8
Dividends paid to non-controlling shareholders – – – – – – – (1.3) (1.3)
Reclassification of pension fund reserve – – – (16.6) – 16.6 – – –
Decrease in non-controlling interest in a subsidiary – – – – 0.3 (0.1) 0.2 – 0.2
Balance at 31 December 2012 (audited) 2,326.0 10.3 (3.4) (0.3) 4.6 215.6 2,552.8 89.6 2,642.4
Total comprehensive income – – 8.6 – 3.2 126.1 137.9 2.7 140.6
Dividends paid – – – – – (81.8) (81.8) – (81.8)
Decrease in non-controlling interest and put option exercised – – – – 16.0 0.5 16.5 (11.7) 4.8
Share scheme charges for the period – 5.9 – – – – 5.9 – 5.9
Dividends paid to non-controlling shareholders – – – – – – – (5.4) (5.4)
Issue of shares options – (1.3) – – – 1.3 – – –
Purchase of shares(1) – – – – – (2.5) (2.5) – (2.5)
Reclassification – – – – (0.8) 0.8 – – –
Balance at 30 June 2013 (unaudited) 2,326.0 14.9 5.2 (0.3) 23.0 260.0 2,628.8 75.2 2,704.0
^ Other reserves consist of the option to equity holder reserves, revaluation reserves and foreign currency translation reserves.
1 Treasury shares purchased represent the cost of shares in Mpact Limited purchased in the market and held by the Mpact Incentive Share
Trust to satisfy share awards under the Group's share scheme. As at 30 June 2013, there were no treasury shares held in the Trust.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited) (Unaudited) (Audited)
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2013 2012 2012
Rm Rm Rm
Operating cash flows before movements in working capital 409.9 386.8 913.7
Net increase in working capital (428.3) (161.8) (48.4)
Cash (absorbed)/generated from operations (18.4) 225.0 865.3
Taxation paid (11.3) (16.0) (38.3)
Dividends received from equity accounted investees – 1.4 7.5
Net cash (outflows)/inflows from operating activities (29.7) 210.4 834.5
Investment in property, plant and equipment (206.7) (165.7) (362.5)
Acquisition of business (note 11) (15.0) (7.1) (7.1)
Other investing activities (5.1) 5.9 5.6
Net cash outflows from investing activities (226.8) (166.9) (364.0)
Share buy back – – (8.1)
Purchase of treasury shares (2.5) – –
Net (repayment of)/proceeds from borrowings 119.1 (34.8) (261.5)
Finance costs paid (57.1) (43.1) (102.0)
Dividends paid to Mpact shareholders (81.8) (65.6) (98.3)
Repayment of other non-current liabilities (27.7) (20.3) (20.3)
Other financing activities (5.3) (5.1) (6.1)
Net cash outflows from financing activities (55.3) (168.9) (496.3)
Net (decrease) in cash and cash equivalents (311.8) (125.4) (25.8)
Cash and cash equivalents at beginning of the period^ 381.1 406.9 406.9
Cash and cash equivalents at end of the period^ 69.3 281.5 381.1
^ Cash and cash equivalents net of overdrafts.
Notes
1. Basis of preparation
The condensed, consolidated financial information has been prepared in accordance with the framework concepts and
the measurement and recognition requirements of International Financial Reporting Standards ("IFRS") of the
International Accounting Standards Board, the SAICA Financial Reporting Guides as issued by the Accounting Practices
Committee and Financial Reporting Pronouncements as issued by Financial Reporting Standards Council, and is in
compliance with IAS 34: Interim Financial Reporting, and the requirements of the Companies Act of South Africa. The
preparation of the Group's consolidated results for the half-year ended 30 June 2013 was supervised by the Chief Financial
Officer, BDV Clark CA(SA). These results are unaudited.
2. Accounting policies
The accounting policies and methods of computation used are consistent with those applied in the preparation of the
annual financial statements for the year ended 31 December 2012.
The following revised accounting standards, which had no significant impact on the Group, were adopted in the current period:
– IAS 19: Employee Benefits
– IAS 27: Separate Financial Statements
– IAS 28: Investment in Associates and Joint Ventures
– IAS 32: Financial Instruments – Presentation
– IFRS 7: Financial Instruments – Disclosures
– IFRS 10: Consolidated Financial Statements
– IFRS 11: Joint Arrangements
– IFRS 12: Disclosure of Interests in Other Entities
– IFRS 13: Fair Value Measurement
3. Seasonality
Seasonal effects in the Group's markets have historically resulted in higher revenue and operating profits for the second
half, when compared to the first half.
(Unaudited) (Unaudited) (Audited)
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2013 2012 2012
Rm Rm Rm
4. Group segment analysis
Revenue
Paper 2,559.5 2,394.4 5,058.6
Plastics 968.8 823.0 1,778.6
Corporate and other business – – –
3,528.3 3,217.4 6,837.2
Less: Inter-segment revenue (8.8) (7.6) (16.4)
Total revenue 3,519.5 3,209.8 6,820.8
Operating profit
Paper 251.3 230.8 562.4
Plastics 34.3 37.1 116.7
Corporate and other business (49.7) (45.6) (94.4)
Segment total 235.9 222.3 584.7
Special items (note 6) – (5.4) (6.0)
Share of equity accounted investee's profit 4.0 2.2 8.6
Net finance cost (excluding special financing) (59.6) (63.7) (127.8)
Profit before tax 180.3 155.4 459.5
Assets
Paper 2,900.5 2,797.7 2,837.4
Plastics 1,377.0 1,168.1 1,296.0
Corporate and other business(1) 1,448.5 1,605.5 1,703.1
Total assets 5,726.0 5,571.3 5,836.5
1 includes intangible and other non-operating assets.
(Unaudited) (Unaudited) (Audited)
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2013 2012 2012
Rm Rm Rm
5. Operating profit
Included in operating profit are:
Amortisation of intangible assets 3.9 11.6 16.6
Depreciation 163.5 151.5 310.2
6. Special items
Impairment of property, plant and equipment – – 0.6
Defined benefit pension plan settlement charge – 5.4 5.4
– 5.4 6.0
7. Finance costs
Bank and other borrowings 59.3 68.8 130.7
Defined benefit arrangements 2.6 2.7 5.0
Fair value losses 1.2 – 2.0
63.1 71.5 137.7
8. Earnings per share Cents Cents Cents
Earnings per share (EPS)
Basic EPS 77.0 61.3 188.5
Diluted EPS 76.5 61.3 187.9
Underlying earnings per share(1)
Basic underlying EPS 77.0 63.7 191.1
Diluted underlying EPS 76.5 63.6 190.5
Headline earnings per share(2)
Basic headline EPS 76.7 61.2 187.5
Diluted headline EPS 76.2 61.1 186.9
1 Underlying EPS excludes the impact of special items.
2 The presentation of Headline EPS is mandated under the JSE Limited Listings Requirements. Headline earnings has been calculated
in accordance with Circular 3/2012, 'Headline Earnings', as issued by The South African Institute of Chartered Accountants.
The calculation of headline earnings, based on basic earnings is as follows:
(Unaudited) (Unaudited) (Audited)
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2013 2012 2012
Rm Rm Rm
Profit for the period attributable to equity holders
of Mpact 126.1 100.6 308.8
Special items (see note 6) – 5.4 6.0
Related tax – (1.5) (1.7)
Underlying earnings for the period 126.1 104.5 313.1
Special items to be included in headline earnings – (5.4) (5.4)
Profit on disposal of tangible and intangible assets (0.7) (0.4) (2.9)
Related tax 0.2 1.7 2.3
Headline earnings for the period 125.6 100.4 307.1
Number of Number of Number of
shares shares shares
Basic number of shares outstanding 163,815,846 164,046,476 163,825,216
Effect of dilutive potential ordinary shares 969,216 173,484 533,954
Diluted number of ordinary shares outstanding(1) 164,785,062 164,219,960 164,359,170
1 Diluted EPS is calculated by adjusting the weighted average number of ordinary shares in issue, on the assumption of conversion
of all potentially dilutive ordinary shares.
(Unaudited) (Unaudited) (Audited)
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2013 2012 2012
Rm Rm Rm
9. Stated capital
Ordinary
Balance at beginning of the period
(June 2013: 163,575,656; December 2012 and
June 2012: 164,046,476 shares of no par value) 2,326.0 2,334.1 2,334.1
Repurchase of shares – – (8.1)
Balance at end of the period
(December 2012 and June 2013: 163,575,656;
June 2012:164,046,476 shares with no par value) 2,326.0 2,334.1 2,326.0
Total issued stated capital 2,326.0 2,334.1 2,326.0
10. Borrowings
– Bank borrowings 1,100.0 1,100.0 1,100
– Shareholder loans 2.6 9.8 3.9
– Finance lease liability 15.9 15.1 18.4
Long-term borrowings 1,118.5 1,124.9 1,122.3
Short-term borrowings and short-term portion
of long-term borrowings 432.5 538.6 314.4
Bank overdraft 22.3 9.7 18.4
Total borrowings 1,573.3 1,673.2 1,455.1
The Company's borrowing powers are not restricted. There have been no changes to the overall terms of the banking
facilities.
11. Businesses combination
On 6 February 2013 the Group acquired a PET tray business at fair value for R15 million. Profit for the period arising on this
acquisition was not material for the Group.
(Unaudited) (Unaudited) (Audited)
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2013 2012 2012
Rm Rm Rm
12. Capital commitments
– Contracted capital commitments 43.9 102.5 62.5
– Approved capital commitments 49.5 66.5 43.2
Capital commitments 93.4 169.0 105.7
These commitments will be met from existing cash
resources and borrowing facilities available to the
Group.
13. Contingent liabilities 7.5 8.1 7.7
A settlement agreement relating to the valuation of
put options previously held in a Group subsidiary
provides for a deferred payment contingent upon
achievement of certain EBITDA and ROCE levels
for the years 2013 to 2018, subject to a maximum
amount of R18.4 million.
(Unaudited) (Unaudited) (Audited)
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2013 2012 2012
14. Net asset value per share
Net asset value per share is defined as net assets
divided by the number of ordinary shares in issue
as at the period-end.
Net asset value per share (cents) 1,653.1 1,504.6 1,615.4
15. Related parties
Transactions between the Company and its respective subsidiaries, which are related parties, have been eliminated on
consolidation.
The Group and its subsidiaries, in the ordinary course of business, enter into various sales, purchases and service
transactions with associates and others in which the Group has a material interest. These transactions are under terms
that are no less favourable than those arranged with third parties. These transactions in total are not significant.
There have been no significant changes to the related parties in this interim reporting period.
16. Post-balance sheet events
There have been no significant post-balance sheet events that occurred subsequent to 30 June 2013.
Disclaimer
This document including, without limitation, those statements concerning the demand outlook, expansion
projects and its capital resources and expenditure, may be considered to be forward-looking statements.
By their nature, forward-looking statements involve risk and uncertainty and although Mpact believes
that the expectations reflected in such forward-looking statements are reasonable, no assurance can be
given that such expectations will prove to have been correct. Accordingly, results could differ materially
from those set out in the forward-looking statements as a result of, among other factors, changes in
economic and market conditions, success of business and operating initiatives, changes in the regulatory
environment and other government action and business and operational risk management. While Mpact
has taken reasonable care to ensure the accuracy of the information presented, Mpact accepts no
responsibility for any consequential, indirect, special or incidental damages, whether foreseeable or
unforeseeable, based on claims arising out of misrepresentation or negligence arising in connection with a
forward-looking statement. This document is not intended to contain any profit forecasts or profit estimates.
info@mpact.co.za
Mpact Limited
(Incorporated in the Republic of South Africa)
(Company registration number: 2004/025229/06)
Income tax number: 9003862175
JSE share code: MPT JSE ISIN: ZAE000156501
("Mpact" or "the Group" or "the Company")
Date: 14/08/2013 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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