Wrap Text
Unaudited Interim Report for the six months ended 30 June 2016
Master Drilling Group Limited
(Incorporated in the Republic of South Africa)
Registration number 2011/008265/06
JSE share code: MDI ISIN: ZAE000171948
("Master Drilling" or "the Company")
REPORT TO SHAREHOLDERS
UNAUDITED INTERIM REPORT
FOR THE SIX MONTHS ENDED 30 JUNE 2016
HIGHLIGHTS FOR THE PERIOD
- ZAR Revenue up by 15.4% assisted by a weaker ZAR
- US$ Gross profit margin increased by 1.6% from 38.9% to 40.5%
- US$ Profit after tax margin increased by 0.8% from 17.2% to 18.0%
- US$ Headline earnings per share remained constant at 6.3 cents
- ZAR Headline earnings per share increased by 30.1% from 75,0 cents to 97,6 cents
- Acquisition of Bergteamet Latin America SpA's assets and operations in Chile
- Steady increase in order book to US$ 209 million
COMMENTARY
FINANCIAL OVERVIEW
The 2016 year had a slow start for Master Drilling. Delayed access to sites, postponement of the start-up
of projects, poor ground conditions and economic fluctuations were the factors that contributed to the
initial underperformance, especially in the first quarter. Fortunately, better performance during the second
quarter indicated an uplift due to the improvement in the mining industry. Our diversification across
regions, commodities, currencies and industries remains the key success factors of the business.
The results in US$ compared to the corresponding period in 2015 are as follow:
- Revenue down by 10.8%
- Gross profit margin of 40.5%, up by 1.6%
- Operating profit margin of 24.9%, down by 1.0%
- Profit after tax margin at 18.0%, improvement of 0.8%
ABOUT MASTER DRILLING GROUP LIMITED
Master Drilling was established in 1986 and listed on the Johannesburg Stock Exchange during the
latter part of 2012. Master Drilling provides specialized drilling services to blue-chip, major and mid-tier
companies in the mining, civil engineering and building construction sectors. Drilling services are provided
across a range of drilling activities that include exploration, production and capital stage drilling in various commodities.
Master Drilling is a global business with operations in Africa, Asia, Europe, Latin America and North America.
The first half of 2016 saw the acquisition of Bergteamet Latin America SpA's assets and operations in
Chile. The Master Drilling business in Brazil secured the 5-year extension of a key contract at Anglo Gold
Ashanti. The successful award of Sierra Leone and Tanzania contracts supports our diversification strategy
for Africa. In the USA we were awarded a first contract for blind shaft boring.
Revenue is down in both Mexico and Africa as a result of projects start-up delays and lower utilization of
equipment. The exploration business is still impacted by lower iron ore prices.
We added 4 raise bore machines, contributing 4.4% growth in revenue, the fleet now consists of 102
raise boring and 49 slim drilling rigs.
Strong margins were maintained during these difficult times. This, together with the ramp-up during the
second quarter, indicates higher utilization of equipment and improved financial performance during the
second half of the year.
COMMITTED ORDERS
As at 30 June 2016 our committed order book totalled US$208 916 631. This includes, in respect of the second
half of the year from 1 July 2016 to 31 December 2016, committed orders, and, in respect of the period beyond
that, assumptions based on past experience of continuation of current customer projects.
UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
of the Master Drilling Group for the six months ended 30 June 2016
ACCOUNTING POLICIES – BASIS OF PREPARATION
The condensed consolidated unaudited interim financial statements of Master Drilling Group Limited
have been prepared on the historical cost basis, except for certain financial instruments that are stated
at fair value. The group financial statements for the six months ended 30 June 2016 have been prepared
in compliance with IAS 34: Interim Financial Reporting, International Financial Reporting Standards (IFRS)
as issued by the International Accounting Standards Board and the SAICA Financial Reporting Guides
as issued by the Accounting Practices Committee and presented in accordance with the minimum
content, including disclosures, prepared in accordance with the JSE Limited Listings Requirements and the
requirements of the South African Companies Act, 2008 (as amended).
The group's accounting policies used in the preparation of these financial statements are consistent with
those used in the annual financial statements for the year ended 31 December 2015.
The unaudited financial statements for the six months ended 30 June 2016 have been prepared by
the corporate reporting staff of Master Drilling Group Limited, headed by Elzaan Swanepoel (CA(SA)),
the group's Management Accountant. This process was supervised by André Jean van Deventer (CA(SA)),
the group's Financial Director.
GOING CONCERN
Based on the information available to it, the Board of Directors believes that the group remains a
going concern.
ISSUED CAPITAL
There has been no change to the issued capital since 31 December 2015.
OPERATING SEGMENTS
There are no changes to the operating segments from those disclosed at 31 December 2015.
See note 7.
FUNCTIONAL AND PRESENTATION CURRENCY
Items included in the financial statements of each of the group's entities are measured using the currency
of the primary environment in which the entity operates, i.e. 'functional currency'. The condensed
consolidated unaudited interim financial statements are presented in US$ (the 'presentation currency').
Management believes that presentation in US$ is more useful to the users of the consolidated financial
statements, as this currency most reliably reflects the global business performance of the group as a
whole.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unaudited six Audited year
months ended ended
Jun 2016 Dec 2015
Note(s) USD USD
Assets
Non-current assets
Property, plant and equipment 1 98 586 114 89 532 466
Intangible assets 3 043 042 2 612 584
Deferred tax asset 1 028 715 1 124 233
Financial assets 9 991 715 9 159 284
Investment in associate 5 643 973 5 467 740
118 293 559 107 896 307
Current assets
Inventories 26 986 975 19 574 979
Related-party loans 180 166 35 755
Trade and other receivables 2 35 839 019 30 572 822
Cash and cash equivalents 19 972 385 22 496 770
82 978 545 72 680 326
Total assets 201 272 104 180 576 633
Equity and liabilities
Equity
Share capital 146 607 965 146 607 965
Reserves (93 190 617) (97 883 624)
Retained income 62 601 426 53 231 728
116 018 774 101 956 069
Non-controlling interest 16 626 536 16 309 067
132 645 310 118 265 136
Liabilities
Non-current liabilities
Interest-bearing borrowings 22 504 992 19 096 633
Finance lease obligations 2 324 043 2 957 153
Share-based payment liability 196 745 706 681
Deferred tax liability 8 632 943 7 387 853
33 658 723 30 148 320
Current liabilities
Interest-bearing borrowings 9 185 708 8 417 589
Finance lease obligations 2 589 184 2 941 002
Related party loans 41 907 41 317
Current tax payable 5 349 004 5 195 800
Trade and other payables 3 17 802 268 15 567 469
34 968 071 32 163 177
Total liabilities 68 626 794 62 311 497
Total equity and liabilities 201 272 104 180 576 633
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Unaudited six Unaudited six Audited year
months ended months ended ended
Jun 2016 Jun 2015 Dec 2015
Note(s) USD USD USD
Revenue 53 808 765 60 300 461 119 867 646
Cost of sales (31 997 953) (36 816 661) (71 989 042)
Gross profit 21 810 812 23 483 800 47 878 604
Other operating income 516 516 829 956 1 037 888
Other operating expenses (8 914 143) (8 675 566) (19 336 260)
Operating profit 13 413 185 15 638 190 29 580 232
Investment revenue 398 053 474 483 806 556
Finance costs (1 276 002) ( 744 204) (1 710 539)
Share of profit from equity accounted investment 176 233 – 134 575
Profit before taxation 12 711 469 15 368 469 28 810 824
Taxation (3 024 302) (4 991 656) (7 695 925)
Profit for the year 9 687 167 10 376 813 21 114 899
Other comprehensive income/(loss) that will
subsequently be classifiable to profit and loss:
Exchange differences on translating foreign
operations 4 599 036 (5 300 056) (18 378 247)
Other comprehensive income/(loss) for the
year net of taxation 4 599 036 (5 300 056) (18 378 247)
Total comprehensive income 14 286 203 5 076 757 2 736 652
Profit attributable to: 9 687 167 10 376 813 21 114 899
Owners of the parent 9 369 698 9 310 508 19 966 151
Non-controlling interest 317 469 1 066 305 1 148 748
Total comprehensive income
attributable to: 14 286 203 5 076 757 2 736 652
Owners of the parent 13 968 734 4 010 452 1 587 904
Non-controlling interest 317 469 1 066 305 1 148 748
Earnings per share (USD) 4
Basic earnings per share (cents) 6.3 6.3 13.5
Headline earnings per share (cents) 6.3 6.3 13.8
Diluted earnings per share (USD) 4
Diluted basic earnings per share (cents) 6.2 6.2 13.3
Diluted headline earnings per share (cents) 6.2 6.2 13.6
Earnings per share (ZAR)
Basic earnings per share (cents) 97,4 74,8 172,0
Headline earnings per share (cents) 97,6 75,0 175,9
Diluted earnings per share (ZAR)
Diluted basic earnings per share (cents) 95,7 73,7 169,3
Diluted headline earnings per share (cents) 95,9 73,8 173,2
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Equity due Foreign
to change currency
Share in control of translation
USD capital interests reserve
Balance as at 30 June 2015 146 607 965 (58 264 013) (26 913 887)
Share-based payments – – –
Dividends declared by subsidiaries – – –
Total comprehensive income for the year – – (13 078 191)
Total changes – – (13 078 191)
Balance as at 31 December 2015 146 607 965 (58 264 013) (39 992 078)
Share-based payments – – –
Total comprehensive income for the year – – 4 599 036
Total changes – – 4 599 036
Balance as at 30 June 2016 146 607 965 (58 264 013) (35 393 042)
Share-based Attributable Non- Total
payments Total Retained to owners of controlling Shareholders'
reserve reserves income the parent interest equity
309 973 (84 867 927) 42 576 085 104 316 123 16 540 847 120 856 970
62 494 62 494 – 62 494 – 62 494
– – – – (314 223) (314 223)
– (13 078 191) 10 655 643 (2 422 548) 82 443 (2 340 105)
62 494 (13 015 697) 10 655 643 (2 360 054) (231 780) (2 591 834)
372 467 (97 883 624) 53 231 728 101 956 069 16 309 067 118 265 136
93 971 93 971 – 93 971 – 93 971
– 4 599 036 9 369 698 13 968 734 317 469 14 286 203
93 971 4 693 007 9 369 698 14 062 705 317 469 14 380 174
466 438 (93 190 617) 62 601 426 116 018 774 16 626 536 132 645 310
CONSOLIDATED STATEMENT OF CASH FLOWS
Unaudited six Unaudited six
months ended months ended
Jun 2016 Jun 2015
Note(s) USD USD
Cash flows from operating activities
Cash generated from operations 5.1 4 391 721 23 958 288
Interest income 398 053 474 483
Finance costs (1 276 002) (744 204)
Tax paid (1 362 779) (3 405 221)
Net cash from operating activities 2 150 993 20 283 346
Cash flows from investing activities
Purchase of property, plant and equipment (7 330 531) (16 220 124)
Sale of property, plant and equipment 800 868 56 438
Acquisition of subsidiary 5.2 (1 543 451) –
Net cash from investing activities (8 073 114) (16 163 686)
Cash flows from financing activities
Proceeds/(Repayment) of financial liabilities 4 176 478 1 509 328
Repayment of financial leases (984 928) (2 625 382)
Related party loan movement (143 821) (1 079 546)
Net cash from financing activities 3 047 729 (2 195 600)
Total cash movement for the period (2 874 392) 1 924 060
Cash at the beginning of the period 22 496 770 12 477 082
Effect of exchange rate movement on cash balances 350 007 (781 753)
Total cash at end of the period 19 972 385 13 619 389
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
INTERIM FINANCIAL STATEMENTS
1. PROPERTY, PLANT AND EQUIPMENT
Accumulated
depreciation
and
Jun 2016 impairment Carrying
USD Cost losses value
Land and buildings 3 762 948 (46 309) 3 716 639
Plant and machinery 94 853 164 (28 248 430) 66 604 734
Assets under construction 5 625 607 – 5 625 607
Furniture and fittings 1 323 968 (387 466) 936 502
Motor vehicles 2 514 222 (1 066 281) 1 447 941
Office equipment 284 721 (53 284) 231 437
IT equipment 655 404 (373 721) 281 683
Finance lease: Plant and equipment 23 075 565 (4 715 610) 18 359 955
Computer software 2 211 746 (1 059 630) 1 152 116
Patents 229 500 – 229 500
Total 134 536 845 (35 950 731) 98 586 114
Accumulated
depreciation
and
Dec 2015 impairment Carrying
USD Cost losses value
Land and buildings 3 611 305 (38 641) 3 572 664
Plant and machinery 84 071 033 (25 120 600) 58 950 433
Assets under construction 5 505 621 – 5 505 621
Furniture and fittings 1 148 103 (360 892) 787 211
Motor vehicles 2 669 126 (985 579) 1 683 547
Office equipment 53 264 (43 439) 9 825
IT equipment 564 286 (314 746) 249 540
Finance lease: Plant and equipment 21 737 224 (4 256 153) 17 481 071
Computer software 1 877 368 (814 314) 1 063 054
Patents 229 500 – 229 500
Total 121 466 830 (31 934 364) 89 532 466
1.1 Reconciliation of property, plant and equipment
Exchange
difference on
consolidation
Jun 2016 Opening of foreign
USD balance Additions subsidiaries
Land and buildings 3 572 664 – 149 052
Plant and machinery 58 950 433 6 936 749 2 391 354
Assets under construction 5 505 621 1 004 226 12 774
Furniture and fittings 787 211 171 320 15 780
Motor vehicles 1 683 547 189 618 16 174
Office equipment 9 825 216 518 5 622
IT equipment 249 540 70 086 8 152
Finance lease: Plant and equipment 17 481 071 940 738 688 195
Computer software 1 063 054 244 039 51 064
Patents 229 500 – –
89 532 466 9 773 294 3 338 167
Reclassifications
and transfer to
inventory Disposals Depreciation Total
– – (5 077) 3 716 639
700 110 (216 286) (2 157 626) 66 604 734
(897 014) – – 5 625 607
– (17 535) (20 274) 936 502
– (329 549) (111 849) 1 447 941
– – (528) 231 437
– (2 236) (43 859) 281 683
26 837 (210 492) (566 394) 18 359 955
– (1 661) (204 380) 1 152 116
– – – 229 500
(170 067) (777 759) (3 109 987) 98 586 114
Exchange
difference on
consolidation
Dec 2015 Opening of foreign
USD balance Additions subsidiaries
Land and buildings 3 894 241 261 581 (536 993)
Plant and machinery 55 996 007 15 893 937 (7 364 009)
Assets under construction 7 943 681 609 798 (27 296)
Furniture and fittings 815 069 72 054 (48 375)
Motor vehicles 1 993 290 471 266 (270 120)
Office equipment 27 757 1 794 (13 022)
IT equipment 277 218 102 035 (32 662)
Finance lease: Plant and equipment 21 996 857 429 247 (3 567 469)
Computer software 1 437 735 325 481 (211 809)
Patents – 229 500 –
94 381 855 18 396 693 (12 071 755)
Reclassifications
and transfer to
inventory Disposals Depreciation Total
– (26 545) (19 620) 3 572 664
435 994 (529 625) (5 481 871) 58 950 433
(3 020 562) – – 5 505 621
– (8 999) (42 538) 787 211
116 537 (323 726) (303 700) 1 683 547
– – (6 704) 9 825
(138) (5 024) (91 889) 249 540
(116 537) (12 049) (1 248 978) 17 481 071
– – (488 353) 1 063 054
– – – 229 500
(2 584 706) (905 968) (7 683 653) 89 532 466
2. TRADE AND OTHER RECEIVABLES
Unaudited six Audited year
months ended ended
Jun 2016 Dec 2015
USD USD
Trade receivables 29 029 001 24 157 869
Loans to employees 185 286 89 298
Pre-payments 2 539 447 2 534 712
Deposits 99 302 106 733
Indirect taxes 1 320 031 521 086
Sundry 2 665 952 3 163 124
35 839 019 30 572 822
Trade and other receivables past due but not impaired
The ageing of amounts past due but not impaired is as follows:
Outstanding on normal cycle terms 16 561 553 16 947 349
1 month past due 4 673 229 3 109 214
2 months past due 2 878 302 1 719 700
3 months past due 5 539 589 3 018 405
Allowance for doubtful debts (623 672) (636 799)
29 029 001 24 157 869
Trade receivables of South African subsidiaries have been ceded to
ABSA Capital as security for interest-bearing loan
The movement in allowance for doubtful debts is
presented below
Balance 1 January 636 799 1 590 191
Exchange differences on translation of foreign operations 38 812 (440 887)
Amounts written off – (578 880)
Allowance for doubtful debts (51 939) 66 375
623 672 636 799
The carrying amount in USD of trade and other receivables
are denominated in the following currencies:
United States Dollar (USD) 16 766 894 16 520 399
South African Rands (ZAR) 4 856 254 3 563 917
Brazilian Reals (BRL) 2 601 479 3 794 977
Mexican Peso (MXN) 213 889 37 902
Chilean Peso (CLP) 6 641 840 3 643 250
Peruvian Nuevo Sol (PEN) 343 746 1 271 413
Chinese Yuan Renminbi (CNY) 144 369 148 753
Guatemalan Quetzal (GTQ) 249 952 476 351
Zambian Kwacha (ZMW) 2 025 633 –
Colombian Peso (CLP) 1 825 131 946 076
Euro (EUR) 169 832 169 784
35 839 019 30 572 822
3. TRADE AND OTHER PAYABLES
Unaudited six Audited year
months ended ended
Jun 2016 Dec 2015
USD USD
Trade payables 9 925 659 7 839 195
Income received in advance – 517 570
Indirect taxes 768 545 2 850 274
Leave pay accruals 2 015 141 1 306 196
Other accruals 5 092 923 3 054 234
17 802 268 15 567 469
4. EARNINGS PER SHARE
Unaudited six Unaudited six Audited year
months ended months ended ended
Jun 2016 Jun 2015 Dec 2015
USD USD USD
Reconciliation between earnings and
headline earnings
Basic earnings for the year 9 687 167 10 376 813 21 114 899
Deduct:
Non-controlling interest (317 469) (1 066 305) (1 148 748)
Attributable to owners of the parent 9 369 698 9 310 508 19 966 151
Loss on disposal of fixed assets 23 109 24 059 677 898
Tax effect on loss on disposal of fixed assets (6 470) (5 198) (217 524)
Headline earnings for the year 9 386 337 9 329 369 20 426 525
Earnings per share (cents) 6.3 6.3 13.5
Diluted earnings per share (cents) 6.2 6.2 13.3
Headline earnings per share (cents) 6.3 6.3 13.8
Diluted headline earnings per share (cents) 6.2 6.2 13.6
Net asset value per share (cents) 89.5 81.5 79.8
Tangible net asset value per share (cents) 87.4 79.8 78.0
Dividends per share (cents) – – –
Weighted average number of ordinary
shares at the end of the year for the purpose
of basic earnings per share and headline
earnings per share 148 265 491 148 265 491 148 265 491
Effect of dilutive potential ordinary shares
– employee share options 2 676 268 2 327 286 2 379 656
Weighted average number of ordinary shares
at the end of the year for the purpose of
diluted basic earnings per share and diluted
headline earnings per share 150 941 759 150 592 777 150 645 147
5. NOTES TO THE STATEMENT OF CASH FLOWS
Unaudited six Unaudited six
months ended months ended
Jun 2016 Jun 2015
USD USD
5.1 Cash generated from operations
Profit before taxation 12 711 469 15 368 469
Adjustments for:
Depreciation and amortisation 3 109 987 3 413 288
Share of profit from equity accounted investments (176 233) –
Translation effect of foreign operations (452 183) (80 845)
Share-based payment – equity settled 93 971 102 109
Share-based payment – liability (509 936) 262 036
Loss on sale of assets 23 109 24 059
Interest received (398 053) (434 483)
Finance costs 1 276 002 744 204
Changes in working capital:
Inventories (7 045 149) 3 264 640
Trade and other receivables (5 153 376) (241 201)
Trade and other payables 912 113 1 576 012
4 391 721 23 958 288
5.2 Acquisition of subsidiary
The fair value of assets and liabilities assumed at date of
acquisition was:
Assets
Property, plant and equipment 2 442 763 –
Current tax receivable 125 292 –
Cash on hand 105 549 –
Net Working capital (1 013 085) –
Total assets and liabilities acquired 1 660 519 –
Less: Non-controlling interests' portion of assets and liabilities acquired – –
Group's share of total assets and liabilities acquired 1 660 519 –
Goodwill at acquisition 430 458 –
Total consideration 2 090 977 –
Consideration payable (441 977) –
Cash and cash equivalents on hand at acquisition (105 549) –
Net cash (inflow)/outflow on acquisition of subsidiaries 1 543 451 –
6. CAPITAL COMMITMENTS
Unaudited six Audited year
months ended ended
Jun 2016 Dec 2015
USD USD
Capital expenditure authorised by the directors and contracted for
within 12 months. Capital expenditure will be funded through cash
generated from operations. 4 709 195 6 974 023
7. SEGMENT REPORTING
Unaudited six Unaudited six Audited year
months ended months ended ended
Jun 2016 Jun 2015 Dec 2015
USD USD USD
7.1 Mining activity
The following table shows the distribution of the
group's combined sales by mining activity, regardless
of where the goods were produced:
Sales revenue by stage of mining activity
Exploration 316 288 – 1 664 074
Capital 8 995 132 13 901 317 11 804 595
Production 44 497 345 46 399 144 106 398 977
53 808 765 60 300 461 119 867 646
Gross profit by stage of mining activity
Exploration 131 801 – 779 248
Capital 2 758 394 5 465 803 4 984 392
Production 18 920 617 18 017 997 42 114 964
21 810 812 23 483 800 47 878 604
The chief decision maker of the group is the chief executive officer. The chief executive officer, under
the direct supervision of the resident boards, manages the activities of the group with due consideration
to the inherent risks facing these activities. It is for this reason that the activities are separated between
exploration, capital and production stage drilling. The equipment and related liabilities of the group can
be used at multiple stages and therefore cannot be presented per activity.
Unaudited six Unaudited six Audited year
months ended months ended ended
30 June 2016 30 June 2015 Dec 2015
USD USD USD
7.2 Geographical segments
Although the group's major operating divisions are
managed on a worldwide basis, they operate in four
principal geographical areas of the world
Sales revenue by geographical market
Africa 10 485 839 13 683 945 27 087 779
Latin America 31 964 638 29 002 433 61 844 572
Other Countries – 221 935 207 734
South Africa 11 358 288 17 392 148 30 727 561
53 808 765 60 300 461 119 867 646
Gross profit by geographical market
Africa 6 392 095 6 792 731 14 232 105
Latin America 11 223 866 9 419 710 16 594 674
Other Countries (6 835) 290 448 1 010 347
South Africa 4 201 686 6 980 911 16 041 478
21 810 812 23 493 800 47 878 604
The gross profit percentages vary based on drilling ground conditions, competition in the markets
and the mix of in-country and foreign cost.
SUBSEQUENT TO THE REPORTING PERIOD
There have been no significant events subsequent to 30 June 2016 which require adjustment or additional
disclosure to these interim results.
DIVIDENDS
The anticipated investment in capital projects require the reservation of resources to fund our strategic
expansion. Based on this, and taking into account continuing uncertain economic conditions globally,
particularly for the mining industry, the Board resolved not to declare a dividend in respect of this
reporting period.
OUTLOOK AND PROSPECTS
We are experiencing a change in the market with increased enquiries and project evaluations taking place.
Diversification across countries, commodities, industries and currencies remains the foundation of our
business. We have achieved strategic expansion of our footprint in Africa and the project in the USA, the
first step for the blind shaft boring development, becomes operational during the second half of this year.
We have invested in and extended our team to support the growth of our business and have allocated
resources to the Bergteamet Europe AB office with the anticipated exercising of our option to buy out the
remaining 60% shareholding.
Cash resources continue to be stringently managed to cater for emerging opportunities that require
specific design, planning and investment. Continuous improvement in our technology and methods
remains the cornerstone in providing our clients with the one-stop solution that they require to stay
ahead in their market. Mechanisation, the key issue our mining clients are facing, supports our focus
as our business is already well positioned for this with the technologically advanced methods we use.
Comprehensive training plans were established to increase the skill level of key employees in the group.
The condensed consolidated unaudited financial statements of Master Drilling Group Limited were
approved by the Board of Directors on 5 September 2016 and signed off on its behalf by DC Pretorius.
On behalf of the board
DC Pretorius
Chief Executive Officer
Fochville
5 September 2016
CORPORATE INFORMATION
MASTER DRILLING GROUP LIMITED
Registration number: 2011/008265/06
Incorporated in the Republic of South Africa
JSE share code: MDI
ISIN: ZAE000171948
REGISTERED AND CORPORATE OFFICE
4 Bosman Street
PO Box 902
Fochville, 2515
South Africa
DIRECTORS
Executive
Daniël (Danie) Coenraad Pretorius Chief executive officer and founder
André Jean van Deventer Financial director and chief financial officer
Barend Jacobus (Koos) Jordaan Technical director
Gareth (Gary) Robert Sheppard(#) Chief operating officer
Non-executive
Hendrik Roux Van Der Merwe Chairman and independent non-executive
Akhter Alli Deshmukh Independent non-executive
Jacques Pierre de Wet Independent non-executive
Johan Louis Botha Independent non-executive
Shane Trevor Ferguson Non-executive
Christopher Gerald O'Neill Alternate director
Fred George Dixon Alternate director
(#)Resident in Peru
COMPANY SECRETARY
Andrew Beaven
6 Dwars Street,
Krugersdorp,
1739
South Africa
PO Box 158, Krugersdorp,
1740
South Africa
JSE SPONSOR
Investec Bank Limited
(Registration number: 1969/004763/06)
100 Grayston Drive, Sandown, Sandton
2196
South Africa
INDEPENDENT AUDITORS
Grant Thornton Johannesburg Partnership
South African member of Grant Thornton International Limited
52 Corlett Drive
Illovo
2196
South Africa
SHARE TRANSFER SECRETARIES
Computershare Investor Services (Proprietary) Limited
(Registration number: 2004/003647/07)
Ground Floor, 70 Marshall Street
Johannesburg, 2001
(PO Box 61051, Marshalltown, 2107
South Africa
INVESTOR RELATIONS CONTACTS
Su-Marie Lemmer
Master Drilling Group Limited
Telephone: +27 18 771 8100
Mobile: +27 82 570 3451
E-mail: marketcomm@masterdrilling.com
GENERAL E-MAIL QUERIES
info@masterdrilling.com
Master Drilling website
www.masterdrilling.com
Company Secretarial E-mail
Companysecretary@masterdrilling.com
Master Drilling posts information that is important to investors on the main page of its website at
www.masterdrilling.com and under the 'investors' tab on the main page. The information is updated
regularly and investors should visit the website to obtain important information about Master Drilling.
www.masterdrilling.com
Date: 05/09/2016 04:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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