GOLD BRANDS INVESTMENTS LIMITED - Clarification with Regard to Outstanding Taxes Paragraph in the Provisional Reviewed Condensed Group Results

Release Date: 03/07/2018 12:29
Code(s): GBI
 
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Clarification with Regard to Outstanding Taxes Paragraph in the Provisional Reviewed Condensed Group Results

GOLD BRANDS INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2015/168426/06)
JSE code: GBI
ISIN: ZAE000212791
(“Gold Brands” or “the Company” or “the Group”)


CLARIFICATION WITH REGARD TO OUTSTANDING TAXES PARAGRAPH IN THE PROVISIONAL REVIEWED
CONDENSED GROUP FINANCIAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2018

Shareholders are referred to the Reportable Irregularity paragraph of the Provisional Reviewed Condensed Group
Financial Results for the Year Ended 28 February 2018 released on SENS on 2 July 2018, wherein it was stated that:

“During the financial year, Gold Brands Investments Limited and its subsidiaries did not make payments relating to
Valued-Added Tax and Employees Tax to the South African Revenue Services.”

The directors hereby provide the following clarification in respect of the paragraph:

Gold Brands Investments Limited has a VAT refund due by South African Revenue Services (“SARS”).

The reportable irregularity relates to only two subsidiaries in the Group where Value-added Taxation and
Employees Taxation returns were submitted to SARS, however, no or not all payments due to SARS were made.
Gold Brands is currently in communication with SARS to agree upon payment terms to settle the amounts due.


Johannesburg
3 July 2018

Designated Adviser
Merchantec Capital

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