To view the PDF file, sign up for a MySharenet subscription.

GRAND PARADE INVESTMENTS LIMITED - Change Statement And Notice Of Annual General Meeting

Release Date: 27/09/2013 16:46
Code(s): GPL     PDF:  
Wrap Text
Change Statement And Notice Of Annual General Meeting

Grand Parade Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1997/003548/06)
Share code: GPL
ISIN: ZAE000119814
("GPI" or "the Company" or “the Group”)

CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING

CHANGE STATEMENT

Shareholders are hereby advised that the integrated annual report for the year
ended 30 June 2013 is being posted to shareholders today, 27 September 2013, and
save for the changes set out below, contains no material modifications to the
reviewed results which were published on the Stock Exchange News Service of the
JSE Limited on Monday, 2 September 2013.

AUDITED RESULTS FOR THE YEAR ENDED 30 JUNE 2013


GROUP STATEMENT OF COMPREHENSIVE INCOME
                                                   Audited       Reviewed
                                          Note     30 June       30 June        change
                                                     2013          2013

Adjusted and diluted adjusted              1           31.00         30.97           0.03
headline earnings per share (cents)


GROUP STATEMENT OF FINANCIAL POSITION
                                Note          Audited          Reviewed
                                           30 June 2013      30 June 2013      R change
                                               R’000s           R'000s          R'000s
ASSETS
Non-current assets                               1 529 714      1 529 715             (1)
Current assets                   2                 471 033        466 909           4 124
Total assets                                     2 000 747      1 996 624           4 123


EQUITY AND LIABILITIES

Total equity                                     1 655 497         1 655 497              -
Non-controlling interest                           (1 957)           (1 957)              -
Total shareholder’s equity                       1 653 540         1 653 540
Non-current liabilities
- Provisions                                           768               768              -
- Deferred tax liabilities                          12 107            12 107              -
- Interest-bearing borrowings
and loans                                           83 436            83 436              -
- Cumulative redeemable
preference shares                                  132 424           132 423            1
Current Liabilities                   2            118 228           114 106        4 122
Total Equity & liabilities                       2 000 747         1 996 624        4 123

GROUP STATEMENT OF CASH FLOW
                                                      Audited       Reviewed
                                                30 June 2013       30 June 2013      R change
                                                R’000s                R'000s          R'000s
Cash flows from operating activities     Note
Net cash generated from operations      4 & 5            86 352          84 572              1 780
Income taxes paid                                   (15 049)           (15 048)                (1)
Finance income                                            6 216           6 216                  -
Net cash inflow from operating
activities                                               77 519          75 740              1 779


Cash flows from investing activities

Acquisition of plant and equipment          3       (68 327)           (78 229)              9 902
Acquisition of land and buildings           3       (88 434)           (78 554)            (9 880)
Acquisition of intangible assets            3        (4 607)            (4 586)               (21)
Proceeds from the disposal of
property, plant and equipment                                 9                9                 -
Dividends received                                   131 496            131 495                  1
Net cash outflow from investing
activities                                          (29 863)           (29 865)                  2


Cash flows from financing activities
Finance costs                               4       (15 594)           (14 603)              (991)
Increase/ (decrease) in loans               5            56 882          57 672              (790)
Dividends paid                                      (90 873)           (90 873)                  -
Net cash outflow from financing
activities                                          (49 585)           (47 804)            (1 781)

Net cash increase in cash and cash
equivalents                                          (1 929)            (1 929)                  -
Cash and cash equivalents at the
beginning of the year                                405 147            405 147                  -
Cash and cash equivalents at the end
of the year                                          403 218            403 218                  -

The difference between the audited annual financial statements and the reviewed
results arise from the change in disclosure of the following items. There has
not been any material change in the amounts.

Note 1: The amount remaining after eliminating intra-group entries in respect of
the GPI Share Incentive Scheme should have been added back instead of deducting
it in the adjusted headline earnings calculation.

Note 2: VAT receivable was included in trade        and    other    payables   and   was
reallocated to trade and other receivables.

Note 3: The movement in acquisition of land and buildings and plant and
equipment are due to combining certain of the asset categories in land and
buildings and plant and equipment: Food division.

Note 4: Eliminating the non-cash flow effect of finance costs paid.

Note 5: Reallocation of amounts owed to suppliers to trade and other payables.


NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that the annual general meeting of shareholders of GPI
will be held on Wednesday, 11 December 2013, at 18:00 at Market Hall, GrandWest
Casino, Goodwood, Cape Town to transact the business stated in the notice of
annual general meeting, which notice forms part of the abridged annual report.

The date on which shareholders must be recorded in the share register of the
Company for purposes of being entitled to attend and vote at the annual general
meeting is Friday, 6 December 2013, with the last day to trade being Friday, 29
November 2013.

27 September 2013
Cape Town

Sponsor
PSG Capital (Pty) Limited

Date: 27/09/2013 04:46:00 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.

Share This Story