Wrap Text
Change statement notice of annual general meeting and avaliability of B-BBEE annual compliance certificate
CONSOLIDATED INFRASTRUCTURE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2007/004935/06)
JSE share code: CIL ISIN: ZAE000153888
(“CIG” or “the Company” or “the Group”)
CHANGE STATEMENT NOTICE OF ANNUAL GENERAL MEETING AND AVALIABILITY OF B-BBEE
ANNUAL COMPLIANCE CERTIFICATE
Shareholders are advised that the Company’s integrated annual report, incorporating the audited annual financial
statements for the year ended 31 August 2017, was distributed to shareholders on 28 February 2018. The integrated
annual report is available on the Company’s website (www.ciglimited.com).
The audited annual financial statements contains reclassifications to the “statement of financial position” and “statement
of cash flows” of R16.3 million as a result of a reallocation between assets and liabilities from the reviewed provisional
condensed consolidated results for the year ended 31 August 2017, released on SENS on 30 November 2017 (“the
SENS announcement”). It should be noted that net asset value, the total cash and cash equivalents balance, loss for
the year, earnings per share and headline earnings per share remain the same as the SENS announcement. The
“statement of statement of comprehensive income” did not change from the SENS announcement.
Shareholders are advised that an unqualified audit opinion was issued on the audited annual financial statements.
The following is an extract of the “statement of financial position” from the SENS announcement:
STATEMENTS OF FINANCIAL POSITION
Reviewed
year ended
31 August 2017
R'000
ASSETS
Non-current assets 2,715,276
Property, plant and equipment 513,660
Goodwill 1,151,969
Intangible assets 163,373
Deferred tax 140,293
Investment in joint arrangement 724,783
Financial assets 21,198
Current assets 4,312,699
Inventories 232,208
Trade and other receivables 539,306
Amounts due from contract customers 3,107,633
Taxation receivable 73,334
Cash and cash equivalents 360,218
Total assets 7,027,975
EQUITY AND LIABILITIES
Equity 3,839,348
Stated Capital 2,328,926
Share based payment reserve 49,410
Foreign currency translation reserve 44,282
Accumulated profits 1,418,640
Non-controlling interest (1,910)
Non-current liabilities 223,339
Other financial liabilities – interest bearing 111
Other financial liabilities – non-interest bearing 87,144
Provisions 23,092
Instalment sale liabilities 25,480
Deferred tax 87,512
Current liabilities 2,965,288
Other financial liabilities 948,737
Trade and other payables 1,466,352
Amounts received in advance 79,325
Amounts due to contract customers 68,276
Instalment sale liabilities 25,784
Bank overdraft 370,774
Taxation payable 6,040
Total equity and liabilities 7,027,975
The updated “statement of financial position” from the audited annual financial
statements is as follows:
STATEMENT OF FINANCIAL POSITION
Audited
year ended
31 August 2017
ASSETS R'000
Non-current assets 2,708 085
Property, plant and equipment 513,660
Goodwill 1,151,969
Intangible assets 163,373
Deferred tax 140,293
Investment in joint arrangement 724,783
Financial assets 14,007
Current assets 4,303,542
Inventories 232,208
Trade and other receivables 522,958
Amounts due from contract customers 3,107,633
Financial assets 7,191
Taxation receivable 73,334
Cash and cash equivalents 360,218
Total assets 7,011,627
EQUITY AND LIABILITIES
Equity 3,839,348
Stated Capital 2,328,926
Share based payment reserve 49,410
Foreign currency translation reserve 44,282
Accumulated profits 1,418,640
Non-controlling interest (1,910)
Non-current liabilities 229,319
Financial liabilities 87,255
Instalment sale liabilities 25,480
Operating lease liability 6,569
Retirement benefit obligation 15,598
Deferred tax 87,512
Provisions 6,905
Current liabilities 2,942,960
Other financial liabilities 932,389
Trade and other payables 1,466,352
Amounts received in advance 79,325
Amounts due to contract customers 68,276
Operating lease liability 3,377
Instalment sale liabilities 15,838
Bank overdraft 370,774
Total equity and liabilities 7,011,627
The following was the “statement of cash flow” from the SENS
announcement:
STATEMENTS OF CASHFLOW
Reviewed
year ended
31 August 2017
R'000
Cash flows from operating activities
Cash used in operations (59,489)
Interest income 34,520
Finance costs (137,180)
Tax paid (121,812)
Net cash flows from operating activities (283,961)
Cash flows from investing activities
Acquisition of property, plant and equipment (83,309)
Proceeds on sale of property, plant and equipment 3,506
Purchase of other intangible assets (39,563)
Business combinations (824,623)
Acquisition of financial assets (4,305)
Net cash flows from investing activities (948,294)
Cash flows from financing activities
Proceeds on share issue 720,947
Increase in financial liabilities -
Repayment of financial liabilities (38,822)
Repayment of instalment sales liabilities (25,197)
Net cash flows from financing activities 656,928
Total cash and cash equivalents movements for the
year (575,327)
Cash and cash equivalents at the beginning of year 557,926
Effect of foreign currency translation reserve
movement on cash balances 6,845
Total cash and cash equivalents at end of the year (10,556)
The updated “statement of cashflow” from the audited annual financial
statements is as follows:
STATEMENT OF CASHFLOW Audited
year ended
31 August 2017
R'000
Cash flows from operating activities
Cash used in operations (43,142)
Interest income 34,520
Finance costs (137,180)
Tax paid (121,812)
Net cash flows from operating activities (267,614)
Cash flows from investing activities
Acquisition of property, plant and equipment (83,309)
Proceeds on sale of property, plant and equipment 3,506
Purchase of other intangible assets (39,563)
Business combinations (824,623)
Acquisition of financial assets (4,305)
Net cash flows from investing activities (948,294)
Cash flows from financing activities
Proceeds on share issue 720,947
Increase in financial liabilities -
Repayment of financial liabilities (55,169)
Repayment of instalment sales liabilities (25,197)
Net cash flows from financing activities 640,581
Total cash and cash equivalents movements for the
year (575,327)
Cash and cash equivalents at the beginning of year 557,926
Effect of foreign currency translation reserve
movement on cash balances 6,845
Total cash and cash equivalents at end of the year (10,556)
Notice of annual general meeting
Notice is hereby given that the annual general meeting of shareholders will be held at First Floor, 30 Melrose Boulevard,
Melrose Arch, 2196 at 10:00 on Thursday, 3 May 2018.
Salient dates in respect of the annual general meeting:
Record date to receive the notice of annual general Friday, 23 February 2018
meeting
Last day to trade in order to be eligible to participate Monday, 23 April 2018
and vote at the annual general meeting
Record date for voting purposes Thursday, 26 April 2018
Annual general meeting held at 10:00 on Thursday, 3 May 2018
Results of annual general meeting released on SENS Thursday, 3 May 2018
B-BBEE annual compliance report
Shareholders are advised that the Company’s B-BBEE annual compliance report for the year ended 31 August 2017 in
terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act 53 of 2003 read with the Broad-Based
Black Economic Empowerment Amendment Act 46 of 2013 has been included in the integrated report and is also
available on the Company’s website.
28 February 2018
Sponsor
Java Capital
Date: 01/03/2018 07:05:00 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.