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Integrated annual report and details of the annual general meeting
Basil Read Holdings Limited
(Incorporated in the Republic of South Africa)
Registration Number 1984/007758/06
Share Code: BSR ISIN: ZAE000029781
("Basil Read" or "the Company")
Integrated annual report and details of the annual general meeting
Integrated annual report
Further to Basil Read`s reviewed results for the year ended 31 December
2013, published on 26 March 2014, the integrated annual report for the year
ended 31 December 2013, incorporating the notice of annual general meeting
and summarised consolidated financial statements for the year ended 31
December 2013, (the “Integrated Annual Report”) were dispatched to
shareholders on 26 May 2014.
The Integrated Annual Report contains certain modifications to the
aforementioned published reviewed results for the year ended 31 December
2013. The modifications are limited to certain reclassifications to the
summarised consolidated statement of cash flows as well as an adjustment to
the capital expenditure for the period. The final summarised consolidated
statement of cash flows and additional information to the annual financial
statements is set out below. There are no other modifications to the
published reviewed results for the year ended 31 December 2013
Summarised consolidated statement of
cash flows
Audited Audited
12 months 12 months
31 December 31 December
2013 2012
R'000 R'000
Operating cash flow 406,770 240,130
Movements in working capital (122,343) 793,368
Net cash generated by operations 284,427 1,033,498
Net finance income 13,670 (77,133)
Dividends paid (232,640) (38)
Taxation paid (68,172) (113,221)
Cash flow from operating activities (2,715) 843,106
Cash flow from investing activities 689,926 (403,415)
Cash flow from financing activities (506,682) (50,781)
Effects of exchange rates on cash and
cash equivalents (23,767) 3,059
Movement in cash and cash equivalents 156,762 391,969
Cash and cash equivalents at the
beginning of the year 1,045,722 653,753
Cash and cash equivalents at the end of 1,202,484 1,045,722
the year
Included in cash and cash equivalents
as per the balance sheet 1,202,484 1,046,834
Included in the assets of the disposal
group - (1,112)
1,202,484 1,045,722
Additional information to the annual
financial statements
Audited Audited
12 months 12 months
31 December 31 December
2013 2012
Ordinary and special dividend paid per
share (cents) 175.00 -
Ordinary and special dividend declared
per share (cents)* 175.00 -
* Based on the year to which the
dividend relates
Number of ordinary shares in issue
('000) 131,686 131,686
Headline earnings / (loss) per share
(cents) 88.16 (130.84)
Diluted headline earnings / (loss) per
share (cents) 88.16 (130.84)
Reconciliation of basic earnings to
headline earnings R '000 R '000
Basic earnings / (loss) 310,742 (170,384)
Adjusted by
- (Profit) / loss on sale of subsidiary (193,176) 253
- Loss on sale of jointly controlled
entity - 3,760
- Profit on sale of associate - (359)
- Profit on sale of available-for-sale
financial asset - (4,050)
- (Profit) / loss on sale of property,
plant and equipment (1,470) 451
- Impairment of fixed assets - 7,052
Headline earnings / (loss) 116,096 (163,277)
Reconciliation between weighted average
number of shares and
diluted average number of shares '000 '000
Weighted average number of shares 131,686 124,787
Adjusted by - Share Incentive Scheme - -
Diluted average number of shares 131,686 124,787
Net asset value per share (cents) 1,450.01 1,366.55
Tangible net asset value per share
(cents) 1,137.28 1,053.16
Capital expenditure for the period
(R'000) 254,948 501,693
Depreciation (R'000) 324,292 300,436
Impairment of fixed assets (R'000) - 7,052
Amortisation of intangible asset
(R'000) 860 1,990
The Integrated Annual Report and the full consolidated financial statements
for the year ended 31 December 2013, are available for download on the
company`s website hosted at www.basilread.co.za as well as for inspection
at the Company’s registered office.
Annual general meeting
The annual general meeting of Basil Read shareholders will be held at 10h00
on Thursday, 26 June 2014 at the Basil Read Campus, 7 Romeo Street, Hughes
Extension, Boksburg, Johannesburg to transact the business as set out in
the Notice of the Annual General Meeting forming part of the Integrated
Annual Report.
Shareholders are advised to contact the Company directly for a copy of the
Integrated Annual Report if they have elected to receive a hardcopy of the
Integrated Annual Report in the post, but have not received their copy by
26 June 2014.
Johannesburg
27 May 2014
JSE Sponsor
Macquarie First South Capital (Pty) Limited
Date: 27/05/2014 05:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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