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Unaudited financial results for the quarter ended 31 March 2017
VestIN Holdings Limited
(Incorporated in Bermuda)
(Registration number: 47305)
‘A’ Ordinary Share Code: VIN
ISIN: BMG934031060
(“the Company”)
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31 MARCH 2017
The Company is incorporated in Bermuda and its main purpose is the holding of investments. The Company maintains a primary
listing on the Bermuda Stock Exchange (“BSX”) and a secondary listing on the Alternative Exchange (“AltX”) of JSE Limited
(“JSE”). The listing of the Company’s A ordinary shares on the AltX, in so far as it relates to their trading, has been suspended
since Monday, 9 November 2015.
Business Review
The Company disposed of all its shares in its subsidiaries with effect from 1 July 2015 and has had limited business activity since
the suspension of its AltX listing on 9 November 2015. As a result, the Company recorded a net loss after tax for the quarter ended
31 March 2017 of ZAR 382,955.
Dividends
No dividend has been declared for the period under review.
Basis of Preparation
The unaudited results for the quarter ended 31 March 2017 have been prepared in accordance with International Financial Reporting
Standards including International Accounting Standard 34 – Interim Financial Reporting, the Bermuda Companies Act, 1981 (the
“Act”), the BSX Listing Regulations and the JSE Listings Requirements.
Accounting policies
The financial results set out below have neither been audited nor reviewed by the Company’s external auditors. The accounting
policies adopted are consistent with those published in the audited Consolidated Financial Statements for the year ended 30 June
2015 (given the status of its listings, the Company was not required to, and did not, prepare audited Financial Statements for the
year ended 30 June 2016).
VESTIN HOLDINGS LIMITED
UNAUDITED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2017
Company as at Company as at
31 March 2017 31 March 2016
R R
ASSETS
Cash and cash equivalents 7,072,686
5,298,556
Other receivables
62,451 131,704
Total assets 5,361,007 7,204,390
EQUITY AND LIABILITIES
EQUITY
Shareholders' equity (2,815,240) (954,017)
Total equity (2,815,240) (954,017)
LIABILITIES
Trade and other payables 8,176,247
8,158,407
Total liabilities 8,176,247 8,158,407
Total equity and liabilities 5,361,007 7,204,390
VESTIN HOLDINGS LIMITED
UNAUDITED STATEMENT OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME FOR THE QUARTER ENDED 31 MARCH 2017
Company
Company for Company for
for the
the nine the quarter
quarter
months ended ended 31
ended 31
31 March 2017 March 2016
March 2017
R R R
Net portfolio income - - -
Other income
7,617 13,117 3
Operating costs (390,572) (1,675,857) (355,853)
Other expenses (382,955) (1,662,740) (355,850)
Operating loss before taxation (382,955) (1,662,740) (355,850)
Income tax expense - - -
Loss for the period (382,955) (1,662,740) (355,850)
Earnings per share (cents)
Basic and headline loss per share (cents) (0.61) (2.66) (0.57)
Diluted (0.61) (2.66) (0.57)
VESTIN HOLDINGS LIMITED
UNAUDITED STATEMENT OF CHANGES IN EQUITY FOR THE
QUARTER ENDED 31 MARCH 2017
Share Accumulated
capital loss Reserves Total
R R R R
Balance at 01 October 2016 2,388 (38,739,009) 36,888,957 (1,847,664)
Loss for the period - (584,621) - (584,621)
Balance at 31 December 2016 2,388 (39,323,630) 36,888,957 (2,432,285)
Balance at 01 January 2017 2,388 (39,323,630) 36,888,957 (2,432,285)
Loss for the period - (382,955) - (382,955)
Balance at 31 March 2017 2,388 (39,706,585) 36,888,957 (2,815,240)
VESTIN HOLDINGS LIMITED
UNAUDITED STATEMENT OF CASH FLOWS FOR THE QUARTER ENDED 31 MARCH 2017
Unaudited for the
quarter Unaudited for the quarter
ended 31 March 2017 ended 31 March 2016
R R
Loss before taxation (382,955) (355,850)
Changes in working capital:
Loan and other receivables 13,480 40,246
Trade and other payables (137,980) 78,899
Net cash used in operating activities (507,455) (236,705)
Net decrease in cash and cash equivalents (507,455) (236,705)
Cash and cash equivalents at the beginning of the
period 5,806,011 7,309,391
Net cash and cash equivalents at the end of the
period 5,298,556 7,072,686
By order of the Board
23 June 2017
The Company has its primary listing on the Bermuda Stock Exchange and its secondary listing on the Alternative Exchange of the
JSE Limited (suspended).
JSE Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
BSX Sponsor: Global Custody and Clearing Limited
Date: 23/06/2017 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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