Abridged group audited financial statements for the period ended 31 December 2014 New Frontier Properties Ltd (Incorporated in the Republic of Mauritius on 5 June 2014) (Registration number 123368C1/GBL) SEM share code: NFP.N000 JSE share code: NFP ISIN: MU0453N00004 (“New Frontier” or “the company”) ABRIDGED GROUP AUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2014 STATEMENT OF FINANCIAL POSITION 2014 USD ASSETS Non-current assets 1 700 000 Current assets 103 657 Total Assets 1 803 657 EQUITY AND LIABILITIES Share capital and reserves Owners' interest 779 323 Non-controlling interest 47 900 Non-current liabilities 606 776 Current liabilities 369 658 Total Equity and Liabilities 1 803 657 Net assets per share(US$) 0.83 Number of ordinary shares 938 736 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD FROM 05 JUNE 2014 (DATE OF INCORPORATION) TO 31 DECEMBER 2014 2014 USD Revenue 114 329 Expenses Administrative expenses (83 878) Goodwill impaired (99 034) Fair value loss on investment property (65 193) Finance costs (25 637) Loss before taxation (159 413) Taxation - Loss for the period (159 413) Other comprehensive income - Total comprehensive income for the period (159 413) Basic loss per share (US$) (0.17) Basic headline earnings per share (USD) 0.01 The company has no dilutionary instruments in issue. Reconciliation between loss attributable to equity holders and headline earnings USD Loss attributable to ordinary equity holders of the parent entity (159 413) Add impairment of goodwill 99 034 Add fair value loss on investment property 65 193 Headline earnings 4 814 STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD FROM 05 JUNE 2014 (DATE OF INCORPORATION) TO 31 DECEMBER 2014 Non- Share Revenue controlling capital deficit Total interests Total USD USD USD USD USD Balance at 05 June 2014 - - - - - Issue of shares 938 736 - 938 736 - 938 736 Acquisition through business combination - - - 33 350 33 350 Issue of shares to non-controlling shareholders - - - 14 550 14 550 Total comprehensive income for the period - (159 413) (159 413) - (159 413) Balance at 31 December 2014 938 736 (159 413) 779 323 47 900 827 223 STATEMENT OF CASH FLOWS FOR THE PERIOD FROM 05 JUNE 2014 (DATE OF NCORPORATION) TO 31 DECEMBER 2014 2014 USD Net cash generated from operating activities 118 800 Net cash used in investing activities (65 183) Net cash used in financing activities (51 260) Net increase in cash and cash equivalents 2 357 Movement in cash and cash equivalents At 05 June - Net increase 2 357 At 31 December 2 357 COMMENTS The Abridged financial statements for the period ended 31 December 2014 have been audited by BDO & Co. and have been prepared in line with International Financial Reporting Standards. New Frontier Properties Ltd's Board of Directors accepts full responsibility for the accuracy of the above information prepared in accordance with International Financial Reporting Standards and issued pursuant to SEM Listing Rule 12.14 and the Mauritian Securities Act 2005. The abridged financial statements are available for inspection at the Company's registered office, 20th Floor, Newton Tower, Sir William Newton Street, Port Louis. The statement of direct and indirect interests of officers of the Company required under rule 8(2)(m) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007 of Mauritius is available upon request from the Company Secretary, Osiris Corporate Solutions (Mauritius) Limited, 20th Floor, Newton Tower, Sir William Newton Street, Port Louis. By order of the Board Osiris Corporate Solutions (Mauritius) Limited Company Secretary - 26 March 2015 New Frontier has its primary listing on the Stock Exchange of Mauritius and a secondary listing on the AltX of JSE. JSE sponsor Java Capital +27 11 283 0042 Company secretary Osiris Corporate Solutions (Mauritius) Limited +230 650 4030 14 April 2015 This communique has been issued pursuant to the pre-listing statement and the SEM Listing Rules 11.3 and 12.14 and Rule 5(1) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007. The Board of Directors of New Frontier Properties Ltd accepts full responsibility for the accuracy of the information contained in this Notice. Date: 14/04/2015 12:45:00 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.