Restatement of Financial Information and Trading Statement for the Year Ended 30 June 2017 Accentuate Limited (Incorporated in the Republic of South Africa) (Registration number 2004/029691/06) Share code: ACE ISIN: ZAE000115986 (“Accentuate” or “the Company”) RESTATEMENT OF FINANCIAL INFORMATION AND TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2017 RESTATEMENT OF FINANCIAL INFORMATION The board of directors of the Company (“the Board”) hereby advises shareholders that in terms of International Accounting Standard 36 Impairment of assets of the International Financial Reporting Standards it is required that impairment reviews on goodwill should be conducted on an annual basis. The Company performed impairment calculations in which the recoverable amounts of the fixed assets were based on value in use principles. Furthermore, the impairment calculation was performed on identified cash generating units in the Group, namely Floorworx and Safic. The Board has been advised by its new auditors that in the presentation of its results for the twelve months ended 30 June 2016, the cash flows utilised to perform the impairment calculations did not include head office management fees allocated to the cash generating units by Accentuate Management Services. The exclusion of the management fees is an error that requires a restatement of the result of the prior year. The effect of the above on the 30 June 2016 results after restatement for the impairment of goodwill is as follows: Previously Restated reported Year ended Year ended 30 June 2016 Adjustment 30 June 2016 R'000 R'000 R'000 Group Group Group Effect on the consolidated statement of financial position: ASSETS Non-current assets 54 279 (36 963) 91 242 Property, plant and equipment 50 191 - 50 191 Goodwill - (36 963) 36 963 Intangible assets 1 663 - 1 663 Deferred taxation 2 425 - 2 425 Current assets 148 242 - 148 242 Inventories 104 147 - 104 147 Trade and other receivables 37 201 - 37 201 Other financial assets 1 913 - 1 913 Taxation receivable 4 800 - 4 800 Cash and cash equivalents 181 - 181 Total Assets 202 521 (36 963) 239 484 EQUITY AND LIABILITIES Total equity 116 506 (36 963) 153 469 Share capital 137 950 - 137 950 Revaluation reserve 22 020 - 22 020 Share-based payment reserve 334 - 334 Accumulated loss (43 798) (36 963) (6 835) Non-current liabilities 7 312 - 7 312 Deferred taxation 7 312 - 7 312 Current liabilities 78 703 - 78 703 Trade and other payables 48 007 - 48 007 Operating lease liabilities 2 252 - 2 252 Other financial liabilities - - - Current tax payables 84 - 84 Bank overdraft 28 360 - 28 360 Total equity and liabilities 202 521 (36 963) 239 484 Effect on the consolidated statements of comprehensive income: Impairment of goodwill (36 963) (36 963) - Profit before tax (26 382) (36 963) 10 581 Profit after tax (29 438) (36 963) 7 525 Effect on earnings per share Earnings per share (cents) (24.77) (31.10) 6.33 Diluted earnings per share (22.44) (28.18) 5.74 Headline earnings per share 6.32 - 6.32 Diluted headline earnings per share 5.73 - 5.73 Net asset value per share 98.03 (25.97) 124.00 TRADING STATEMENT In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported upon will differ by 20% or more from that of the previous corresponding period. Earnings per share is expected to be between 0.65 cents and 0.75 cents per share and headline earnings per share is expected to be between 0.70 cents and 0.80 cents per share. The corresponding period reflected a restated loss in earnings per share of 24.77 and unadjusted headline earnings per share of 6.32 cents. The financial information on which this trading statement is based has not been reviewed or reported on by the Company’s auditors. Accentuate’s year end financial results are expected to be released on SENS on 29 September 2017. Johannesburg 27 September 2017 Sponsor: Bridge Capital Proprietary Limited Date: 27/09/2017 09:40:00 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.