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NU-WORLD HOLDINGS LIMITED - Posting of Integrated Report for year end August 2014 and notice of AGM

Release Date: 22/12/2014 16:29
Code(s): NWL     PDF:  
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Posting of Integrated Report for year end August 2014 and notice of AGM

NU-WORLD HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/002490/06)
Share Code: NWL ISIN code: ZAE000005070
(“Nu-World” or “the Company”)


POSTING OF NU-WORLD’S INTEGRATED REPORT, RESTATEMENT OF RESULTS FOR THE YEAR
ENDED 31 AUGUST 2014 AND DETAILS OF THE ANNUAL GENERAL MEETING (“AGM”)

Posting of integrated report

Nu-World shareholders (“Shareholders”) are advised that further to Nu-World’s audited condensed
financial statements for the year ended 31 August 2014, published on Wednesday, 22 October 2014
(“Results”), Nu-World’s audited annual financial statements for the year ended 31 August 2014 (“AFS”) as
contained in the integrated annual report 2014 (“Integrated Report”) have been distributed to
Shareholders on 22 December 2014.

Restatement of the Results for the year ended 31 August 2014

In finalising the Integrated Report and the AFS contained therein, it was identified that an adjustment to the
share-based payment reserve of R15 369 000 was required in order to comply with the requirements of
IFRS 2 (“Adjustment”). The audit opinion expressed on the AFS on 22 October 2014 from which the
Results were derived, has been redated to 10 November 2014 and covers the AFS incorporated in the
Integrated Report which include the Adjustment.

The restated statement of financial position and statement of changes in equity as disclosed in the AFS
incorporated in the Integrated Report in comparison to the information set out in the Results is set out
below. The Adjustment had no impact on the statement of cash flows and statement of comprehensive
income disclosed in the Results.

                                                             Condensed            Condensed        Difference
                                                               audited as           audited as
                                                          restated in the     disclosed in the
                                                                     AFS       Results for the
                                                         incorporated in           year ended
                                                           the Integrated     31 August 2014
                                                           Report for the
                                                              year ended
                                                         31 August 2014
                                                                    R’000                 R’000        R’000

CONDENSED GROUP STATEMENT OF FINANCIAL POSITION


ASSETS
Non-current assets
Fixed assets                                                       30 482                30 482              -
Intangible assets                                                  62 584                62 584              -
Investment in associate                                               107                   107              -
Deferred taxation                                                   9 731                 9 731              -

Current assets
Assets classified as held for sale                                  4 000                 4 000            -
Inventory                                                         431 440               431 440            -
Trade and other receivables                                       402 572               387 203       15 369
Cash and cash equivalents                                        105 596              105 596              -

Total assets                                                   1 046 512            1 031 143        15 369

EQUITY AND LIABILITIES

Ordinary shareholders’ funds                                     757 713              742 344        15 369
Non-controlling interest                                          39 954               39 954             -
Total shareholders’ funds                                        797 667              782 298        15 369

Current liabilities
Bank overdraft                                                    37 648               37 648              -
Trade and other payables                                         211 197              211 197              -

Total equity and liabilities                                   1 046 512            1 031 143        15 369


                                                            Condensed            Condensed        Difference
                                                              audited as           audited as
                                                         restated in the     disclosed in the
                                                                    AFS       Results for the
                                                        incorporated in           year ended
                                                          the Integrated     31 August 2014
                                                          Report for the
                                                             year ended
                                                        31 August 2014
                                                                   R’000                R’000        R’000

CONDENSED GROUP STATEMENT OF CHANGES IN EQUITY


Balance as at 1 September                                        677 956              677 956             -
Total attributable income for the year                             75 163               75 163            -
Dividend paid                                                    (13 452)             (13 452)            -
Movement in foreign currency translation reserve                    3 918                3 918            -
Treasury share movement                                           (1 241)              (1 241)            -
Issue of share-based payment awards                                15 369                    -       15 369
Balance as at 31 August                                          757 713              742 344        15 369


Notice of AGM

Notice is hereby given that the AGM of Shareholders will be held in the boardroom of Nu-World at 35, 3rd
Street, Wynberg, Sandton at 10h00 on Wednesday, 11 February 2015 for the purpose of conducting the
business as stated in the notice of AGM forming part of the Integrated Report.

Record dates and last day to trade

The notice of AGM was posted to Shareholders who were recorded as such in the Company's securities
register on, Friday 12 December 2014.

The date on which Shareholders must be recorded as such in the Company's securities register in order to
attend and vote at the AGM is Friday, 6 February 2015. The last day to trade in order to be entitled to vote
at the AGM is Friday, 30 January 2015. Proxy Forms must be lodged by no later than 10h00 on Monday, 9
February, 2015.

Johannesburg
22 December 2014

Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

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