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Extension of the time period to obtain finance for the acquisition of properties for development purposes
RBA HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/009701/06)
(JSE code: RBA ISIN: ZAE000104154)
(“RBA” or “the company”)
EXTENSION OF THE TIME PERIOD TO OBTAIN FINANCE FOR THE ACQUISITION OF PROPERTIES FOR
DEVELOPMENT PURPOSES
Shareholders are referred to the SENS announcement on 4 February 2014. The definitions used in that
announcement also apply here. The company wishes to advise shareholders that the Seller has extended the time
period allowed for the Purchaser to obtain finance to 31 May 2014.
Terms and conditions of the acquisition
The aggregate purchase price of the Properties now amounts to R21 000 000,00 (excluding VAT) and the
agreement is subject to the Purchaser obtaining acceptable loan finance on or before 31 May 2014 of an amount
of not less than the purchase price. Shareholders will be informed once the suspensive condition has been fulfilled.
Unaudited pro forma financial effects of the acquisition
The unaudited pro forma financial effects set out below are provided for illustrative purposes only to provide
information about how the acquisition may have impacted on RBA’s results and financial position. The pro forma
financial effects have been prepared in accordance with International Financial Reporting Standards. Due to the
nature of the unaudited pro forma financial information, it may not give a fair presentation of the company’s results
and financial position after the acquisition. The unaudited pro forma financial effects are based on the reviewed
results for the 12 month period ended 31 December 2013. The directors of RBA are responsible for the preparation
of the unaudited pro forma financial effects.
Before the acquisition Pro forma After the acquisition Change
reviewed 31 December 2013 31 December 2013
Earnings / (loss) per share (6.60) (6.88) (4,2%)
(cents)
Headline earnings / (loss) (7.08) (7.36) (3.9%)
per share (cents)
Net asset value per share 6.43 6.43 -
(cents)
Net tangible asset value 6.43 6.43 -
per share (cents)
Weighted average shares 509 961 449 509 961 449 -
in issue
Number of shares in issue 599 182 577 599 182 577 -
at period end
Notes:
1. For the purpose of calculating the earnings and headline earnings / (loss) per share, it is assumed that
the acquisition was implemented on 1 January 2013 and for the purpose of calculating the net asset value
and the net tangible asset value per share, it is assumed that the acquisition was implemented on 31
December 2013.
2. The “Before the acquisition” column has been extracted without adjustment, from the reviewed results of
RBA for the year ended 31 December 2013.
3. The “After the acquisition” net asset value per share and net tangible asset value per share includes the
asset acquired and an increase in short term liabilities of R21 million.
4. The “After the acquisition” earnings / (loss) per share and headline earnings / (loss) per share includes
the after tax effect of an interest charge at 9,5% for the period 1 January 2013 to 31 December 2013.
Johannesburg
9 May 2014
Designated Adviser: Exchange Sponsors
Date: 09/05/2014 04:32:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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