MICROMEGA HOLDINGS LIMITED - Change Statement and Notice of Annual General Meeting

Release Date: 31/07/2018 17:18
Code(s): MMG
 
Wrap Text
Change Statement and Notice of Annual General Meeting

MICROmega HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/003821/06)
Share code: MMG ISIN: ZAE000034435
(“MICROmega” or “the Company”)


CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING


CHANGE STATEMENT

Shareholders are advised that the annual integrated report for the year ended 31 March 2018, was
distributed to shareholders today, 31 July 2018 and published on the Company’s website,
www.micromega.co.za and contains no modifications to the provisional condensed annual consolidated
financial statements published on SENS on 28 June 2018, save for the following restatement regarding the
re-classification between continuing operations and discontinued operations for the year ended
31 March 2017:


                                                          31 March
                                                              2017                           31 March
                                                       reported on                               2017
                                                      28 June 2018        Restatement        restated
                                                             R’000              R’000           R’000

 Profit attributable to owners of the parent -
 continuing                                                  61 459            19 571          81 030
 Profit attributable to owners of the parent –
 discontinued                                               115 377           (19 571)         95 806
 Profit attributable to owners of the parent                176 836                  -        176 836

 Attributable earnings per share (cents)
 Basic                                                       155.59                  -         155.59
 Continuing operations                                        54.08              17.21          71.29
 Discontinued operations                                     101.51            (17.21)          84.30
 Diluted basic                                               154.58                  -         154.58
 Continuing operations                                        53.73              17.10          70.83
 Discontinued operations                                     100.85            (17.10)          83.75
 Headline                                                    157.76                  -         157.76
 Continuing operations                                        56.31              17.21          73.52
 Discontinued operations                                     101.45            (17.21)          84.24
 Diluted headline                                            156.74                  -         156.74
 Continuing operations                                        55.94              17.11          73.05
 Discontinued operations                                     100.80            (17.11)          83.69


The above restatement is purely a reclassification between the discontinued and continued operations due
to a formula error which was identified during the finalisation of the consolidated annual financial
statements and does not have any future impact on any of the numbers.

The above adjusted figures indicate a marginal increase of 3% in basic earnings per share and a decrease
of 2% in headline earnings per share from the year ended 31 March 2017 to the year ended 31 March
2018. Included in the continuing operations is MECS (labour supply) and MICROmega Securities (financial
services), which were disposed of in the 2017 financial year. Should these be excluded, the true economic
growth in basic earnings per share and headline earnings per share would be 36% and 30% respectively.

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the annual general meeting of shareholders of MICROmega will be held at
09:00 on Thursday, Thursday, 4 October 2018 at 66 Park Lane, Sandton to transact the business stated in
the notice of the annual general meeting, which is contained in the integrated annual report.

The board of directors of the Company determined that, in terms of section 62(3)(a), as read with section
59 of the Companies Act, 2008 (Act 71 of 2008), as amended, the record date for the purposes of
determining which shareholders of the Company are entitled to participate in and vote at the annual
general meeting is Friday, 28 September 2018. Accordingly, the last day to trade MICROmega shares in
order to be recorded in the Register to be entitled to vote will be Tuesday, 25 September 2018.


Johannesburg
31 July 2018

Sponsor
Merchantec Capital

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