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Withdrawal and Replacement of Abridged Audited Consolidated Financial Statements for the 12 Months Ended 28 Feb 2018
GO LIFE INTERNATIONAL LIMITED
(Incorporated in the Republic of Mauritius)
(Registration number: 098177 C1/GBL)
Primary Listing SEM share code: GOLI.N0000
Secondary Listing JSE share code: GLI ISIN: MU0330N00004
(“the Company” or “Go Life”)
WITHDRAWAL AND REPLACEMENT –OF ABRIDGED AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR
THE 12 MONTHS ENDED 28 FEBRUARY 2018
Shareholders are referred to the Abridged Audited Consolidated Financial Statements announcement
issued on SENS on 26 June 2018 and SEM on 27 June 2018 and are advised that the announcement has
been withdrawn and is replaced with the announcement set out below.
DIRECTORS’ COMMENTARY
BACKGROUND
The Company was incorporated on 1 October 2010 as a public company limited by shares under the
Mauritian Companies Act and holds a Category 1 Global Business License (License No - C110009034)
issued by the Mauritius Financial Services Commission.
Go Life International is registered in the Republic of Mauritius and was listed on the SEM on 07 July 2011.
The Company successfully completed a secondary listing on the Alternative Exchange (“AltX”) of the
Johannesburg Stock Exchange (”JSE”) on 23 November 2016.
PRIMARY OBJECTIVE
Go Life International was established to leverage the strength of existing South African nutraceutical
companies, Go Life Health Products and Gotha Health Products (collectively Go Life SA), and to drive
the presence of the South African products and brands across the global nutraceutical market.
The current focus of the company is to participate in the medical industry through a holistic approach
achieved by focusing on health care with an emphasis on complementary and alternative medicine
and practices without discounting the role of conventional pharmaceutical products. To maximize
stakeholder returns, Go Life’s strategy is based on planning and executing its growth through
participation in the full spectrum of health care as opposed to limiting activities to individual market sub
sectors.
COMPANY OUTLOOK
The company is in the process of rolling out its alternative and complimentary products to all regions of
South Africa. Initially the sales were regionally focussed in the Eastern Cape, through extending its product
offering to more populous areas the company expects a significant growth in its sales.
In addition to expanding its retail capacity the company intends offering its products and services
through participation in health hubs, community clinics, pharmacies and hospitals. The rationale
underlying this approach is not to become the owner of brick and mortar, but rather to partner with
investors in that sector.
To further enhance its offerings the company is pursuing a strategy aimed at acquiring businesses or
where merited securing relationship with targeted business. Through this the company aims to expand its
product range as well as service offerings and where merited, retaining the expertise and knowledge of
the founder members of those businesses, by absorbing them into its structures.
The Company holds 100% of Go Life Health Products, (through its wholly-owned subsidiary, Go Life
Global). Go Life Health Products holds 100% of Gotha Health Products. Go Life also finalized the
acquisition of Bon Health Frail care (100%) and Bon Health Properties (100%) and 49% of Bon Health
Operations in the prior year.
Bon Health has a frail care focus which also include Alzheimer’s and dementia centres. There is an
International need for such facilities and Bon Health has a highly effective and successful reputation and
knowledge in managing such facilities.
On 3 May 2018, Caligraph Proprietary Limited, a South African based Broad-Based Black Economic
Empowered (“BBBEE”) company acquired 26% of GLI’s shares. Caligraph intends to work with
management to provide Go Life Health Products with the appropriate BBBEE credentials and to enhance
the future strategy to pursue organic and acquisitive growth and extension of the value chain, both up-
stream through the acquisition of pharmaceutical registrations and down-stream through acquisitions or
the creation of start-up value-adding pharmaceutical businesses.
DIVIDENDS
No dividends were authorized or paid during the period under review.
By order of the Board
FinAgeis Ltd
Company Secretary
28 June 2018
STATEMENT OF FINANCIAL POSITION
THE GROUP THE GROUP THE COMPANY THE COMPANY
28 Feb 2018 28 Feb 2017 28 Feb 2018 28 Feb 2017
USD USD USD USD
ASSETS
Non - Current Assets 37 394 804 36 517 190 34 851 774 34 851 774
Investments in Associates/Subsidiary 849 095 849 095 34 851 774 34 851 774
Intangible Assets 29 026 143 28 857 769 - -
Property Plant and Machinery 7 519 566 6 810 326 - -
Current Assets 856 012 638 321 4 488 402
Inventories 96 830 105 035 - -
Trade and other Receivables 172 698 144 085 4 478 312
Cash and Cash Equivalents 572 724 382 798 10 90
Income taxes 13 760 6 402 - -
TOTAL ASSETS 38 250 816 37 155 510 34 856 262 34 852 176
EQUITY
Capital and Reserves 34 478 762 33 937 521 34 740 673 34 789 050
Share Capital 34 965 300 34 965 300 34 965 300 34 965 300
Retained Income / (Revenue Deficit) (486 538) (1 027 779) (224,627) (176 250)
LIABILITIES
Non - Current Liabilities 3 424 784 2 988 122 - -
Loan - Shareholders 3 424 784 2 988 122 - -
Current Liabilities 347 269 229 867 115 589 63 126
Trade and other Payables 241 299 229 867 115 589 63 126
Income Tax 105 970 - - -
TOTAL EQUITY AND LIABILITIES 38 250 816 37 155 510 34 856 262 34 852 176
STATEMENT OF PROFIT / LOSS AND OTHER COMPREHENSIVE INCOME
THE GROUP THE GROUP THE COMPANY THE COMPANY
28 Feb 2018 28 Feb 2017 28 Feb 2018 28 Feb 2017
USD USD USD USD
Revenue 1 819 213 1 404 637 - 44
Expenses (1 015 261) (1 169 783) (48 377) (58 107)
PROFIT/ (LOSS) FROM OPERATIONS 803 952 234 854 (48 377) (58 063)
Share of profits - Associates 190 565 51 466 - -
Other payables written back - 27 746 - 27 746
994 517 314 066 (48 377) (30 317)
Finance costs (313 103) (283 741) - -
PROFIT / (LOSS) BEFORE TAXATION 681 414 30 326 (48 377) (30 317)
Taxation (105 970) (8 277) - -
TOTAL COMPREHENSIVE INCOME FOR THE
PERIOD 575 445 22 048 (48 377) (30 317)
RECONCILIATION OF BASIC EARNINGS TO HEADLINE EARNINGS
THE GROUP THE GROUP
28 Feb 2018 28 Feb 2017
USD USD
Basic earnings 575 445 22 048
Headline earnings 575 445 22 048
Adjusted headline earnings / Distributable earnings 575 445 22 048
Weighted average number of shares 900 000 000 715 270 875
Basic and diluted earnings per share (USD cents) 0.0639 0.0031
Headline earnings per share (USD cents) 0.0639 0.0031
STATEMENT OF CASH FLOWS
THE GROUP THE GROUP THE COMPANY THE COMPANY
28 Feb 2018 28 Feb 2017 28 Feb 2018 28 Feb 2017
USD USD USD USD
Net Cash from / (used in) other operating
activities 187 623 (6 354 486) (80) (1 837)
Investing activities
Property, plant and equipment 2 303 2 634 987 - -
Movement in net cash resources 189 926 (3 719 499) (80) (1 837)
Balance at the start of the year 382 798 4 093 297 90 1 928
Balance at the end of the year 572 724 373 798 10 91
SEGMENTAL REPORTING – 12 MONTHS ENDED 28 FEB 2017
Nutraceutical Property Frail care Associate Total
USD USD USD USD
Statement of net profit/loss
Revenue 1 017 557 335 614 51 466 1 404 637
Interest expenses - (71 064) - (71 064)
Income Tax (8 277) - - (8 277)
Net profit/(loss) (293 968) 264 550 51 466 22 048
Statement of financial position
Total Assets 29 496 089 6 810 326 849 095 37 155 510
Total Borrowings - (2 988 122) - (2 988 122)
SEGMENTAL REPORTING – 12 MONTHS ENDED 28 FEB 2018
Nutraceutical Property Frail care Associate Total
USD USD USD USD
Statement of net profit/loss
Revenue 887 097 741 551 190 565 1 819 213
Interest expenses - (71 064) - (71 064)
Income Tax - (105 970) - -
Net profit/(loss) for the period (179 637) 564 517 190 565 575 445
Statement of financial position
Total Assets 29 882 155 7 519 566 849 095 38 250 816
Total Borrowings - (3 424 784) - (3 424 784)
STATEMENT OF CHANGES IN EQUITY
Share Revenue Total
USD USD USD
THE GROUP
Balance as at 1 March 2017 34 965 300 (1 027 779) 33 937 521
Total Comprehensive Income for the period - 575 445 575 445
Consolidation adjustments - (34 202) (34 202)
Balance as at 28 February 2018
34 965 300 (486 536) 34 478 764
THE COMPANY
Balance as at 1 March 2017 34 965 300 (176 250) 34 789 050
Total Comprehensive Income for the period - (48 377) (48 377)
Balance as at 28 February 2018 34 965 300 (224 627) 34 740 673
Notes
The Company is required to publish financial results for the 12 months ended 28 February 2018 in terms of
the Listing Rule 12.19 of the SEM. The abridged audited consolidated financial statements for the 12
months ended 28 February 2018 (“financial statements”) have been audited by Aejaz Nazir Associates &
Co in accordance with the measurement and recognition requirements of IFRS, the requirements of IAS
34: Interim Financial Reporting and the SEM Listing Rules and the JSE Listing requirements. The unmodified
audit report will be available for inspection at the registered office of the Company.
The accounting policies adopted in the preparation of the financial statements are consistent with those
applied in the preparation of the audited financial statements of the year ended 28 February 2017.
Copies of the Abridged Audited Consolidated Financial Statements for the 12 Months Ended 28 February
2018 and the Statement of direct and indirect interests of each officer of the Company, pursuant to Rule
8(2)(m) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007, are available free of
charge, upon request to the Company Secretary at the Registered Office of the Company at 5th Floor,
Atchia Building, Cnr Suffren & Eugene Laurent Streets, Port Louis 21001, Mauritius.
This communiqué is issued pursuant to SEM Listing Rules 11.3 and 12.20 and section 88 of the Securities
Act of Mauritius 2005. The Board accepts full responsibility for the accuracy of the information contained
in these financial statements. The Directors are not aware of any matters or circumstances arising
subsequent to the period ended 28 February 2018 that require any additional disclosure or adjustment
to the financial statement.
For further information please contact:
FinAegis Ltd
(230) 214-2663
Executive Directors: Non-Executive Directors:
Gerhard Jacobus Naudè Mohamed Yusuf Sooklall
Marthinus Johannes Wolmarans Jean Daniel Laurent Paulin Marie
JSE Sponsor: Company Secretary:
Arbor Capital Sponsors (Pty) Ltd FinAegis Ltd
Date: 28/06/2018 12:30:00 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.
