Restatement of results for the year ending 30 June 2015 ADVANCED HEALTH LIMITED (Incorporated in the Republic of South Africa) (Registration number 2013/059246/06) (“the Company” or “Advanced Health”) ISIN Code: ZAE000189049 JSE Code: AVL RESTATEMENT OF RESULTS FOR THE YEAR ENDING 30 JUNE 2015 Shareholders are advised that the audited financial statements for the year ended 30 June 2015 were selected for review as part of the JSE’s pro-active monitoring process. After a series of questions and responses through the pro-active monitoring process, the JSE has requested a restatement of the results for the year ended 30 June 2015. The nature of the restatement relates to the accounting method used for investment property reflected under non-current assets held for sale, which included transaction costs to dispose of the investment property, which is not in accordance with the requirements of IFRS 5. The transaction costs for the year ended 30 June 2015 amounted to R2 332 484 before taxation and R1 632 739 after taxation. The net fair value gain on investment properties was thus understated. The restated information as compared to the previously published information is set out below: CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION Previously Restated Published Year ended Year ended R’000 30 June 2015 30 June 2015 ASSETS Non-current assets 113 556 113 556 Property, plant and equipment 59 487 59 487 Goodwill 25 461 25 461 Intangible assets 25 788 25 788 Deferred taxation 2 820 2 820 Current assets 142 942 142 942 Inventories 6 587 6 587 Trade and other receivables 16 053 16 053 Other financial assets 3 382 3 382 Operating lease asset 185 185 Current tax receivable 1 450 1 450 Cash and cash equivalents 115 285 115 285 Non-current assets held for sale 39 035 36 703 Total assets 294 834 293 201 Previously Restated Published Year ended Year ended R’000 30 June 2015 30 June 2015 EQUITY AND LIABILITIES Capital and reserves 205 868 205 868 Stated capital 137 378 137 378 Foreign currency translation reserve 27 233 27 233 Retained earnings 40 567 38 934 Revaluation reserve - - Share-based payment reserve 2 323 2 323 Non-controlling interest 19 562 19 562 Total equity 227 063 225 430 Non-current liabilities 26 508 25 809 Other financial liabilities 14 152 14 152 Finance lease obligations 849 849 Operating lease liability 634 634 Provisions 1 993 1 993 Deferred taxation 7 482 8 181 Current liabilities 41 962 41 962 Other financial liabilities 5 597 5 597 Finance lease obligations 6 792 6 792 Trade and other payables 26 143 26 143 Provisions 779 779 Operating lease liabilities 41 41 Current tax payable 2 599 2 599 Bank overdraft 11 11 Total equity and liabilities 295 834 293 201 Notes to statement of financial position Total number of shares in issue ('000) 221 615 221 615 Net asset value per share (cents) 102.46 101.72 Net tangible asset value per share (cents) 79.33 78.60 CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Previously Restated Published Year ended Year ended R’000 30 June 2015 30 June 2015 Revenue 180 144 180 144 Cost of sales (80 529) (80 529) Gross profit 99 615 99 615 EBITDA (earnings before interest, impairment, tax, depreciation and amortisation) 37 798 35 566 Investment income 6 861 6 861 Depreciation and amortisation (8 342) (8 342) Net finance costs (1 805) (1 805) Profit before taxation 34 612 32 280 Taxation (10 773) (10 074) Profit for the period 23 839 22 206 Other comprehensive income/(expense) for the period, net of tax (897) (897) Total comprehensive income for the period 22 942 21 309 Profit attributable to: Owners of the parent 17 487 15 854 Non-controlling interest 6 352 6 352 Total comprehensive income attributable to: Owners of the parent 16 590 14 957 Non-controlling interest 6 352 6 352 Per share information: Earnings per share (cents) 7.89 7.15 Diluted earnings per share (cents) 7.87 7.14 Notes to the statement of comprehensive income Headline earnings for the period attributable to ordinary shareholders: Headline earnings per share (cents) 4.00 3.26 Diluted headline earnings per share (cents) 3.99 3.26 - Total number of shares in issue (‘000) 221 615 221 615 - Diluted weighted average number of shares (‘000) 222 086 222 086 Reconciliation of headline earnings calculation: Earnings for the period attributable to ordinary shareholders 17 487 15 854 Net fair value gain on Investment properties (15 417) (13 185) Loss on sale property, plant and equipment 223 223 Tax effects of adjustments 4 588 3 889 Non-controlling-interest effects of adjustments 451 451 Headline earnings for the period attributable to ordinary shareholders 8 865 7 232 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Share Foreign Net based currency Non- stated Revaluation payment translation Retained controlling Total capital reserve reserve reserve earnings interest equity R'000 R'000 R'000 R'000 R'000 R'000 R'000 Balance at 1 July 2014 120 378 2 037 1 286 31 297 17 876 15 462 188 336 Profit for the year - restated 17 487 6 352 23 839 Other comprehensive income for the year - 3 167 - (4 064) - - (897) Shares issued for acquisition of intangible assets 17 000 - - - - - 17 000 Share-based payment expense - - 1 037 - - - 1 037 Transfer between reserve - (5 204) - - 5 204 - - Acquisition of subsidiary - - - - - 273 273 Dividends - - - - - (2 525) (2 525) Balance at 30 June 2015 - restated 137 378 - 2 323 27 233 40 567 19 562 227 063 By order of the board 15 April 2016 Designated Advisor Arbor Capital Sponsors Proprietary Limited Date: 15/04/2016 04:10:00 Produced by the JSE SENS Department. 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