GRAND PARADE INVESTMENTS LIMITED - Clarification Of Notes In Summarised Audited Financial Statements

Clarification Of Notes In Summarised Audited Financial Statements

GRAND PARADE INVESTMENTS LIMITED
 (Incorporated in the Republic of South Africa)
(Registration number: 1997/003548/06)
Share code: GPL
ISIN: ZAE000119814
(“GPI” or “the Company”)

CLARIFICATION OF NOTES IN SUMMARISED AUDITED FINANCIAL STATEMENTS

Shareholders are referred to the Summarised Audited Financial Statements for the year ended 30 June 2018 (“Summarised Financial Statements”) published by the Company on 28 September
2018, on SENS and on the Company’s website.

Further to the publication of the Summarised Financial Statements, shareholders are hereby advised that it has come to the attention of the Company that formatting errors occurred in note 4 and
note 7 of the Summarised Financial Statements.

Note 4
Profit on disposal of property, plant, equipment and intangibles incorrectly disclosed as impairment of property, plant and equipment in the reconciliation of headline (loss)/earnings for the year. This
correction does not impact the total headline loss for the year.

Note 7
The updated note 7 is reflected below:

7. Directors emoluments

 2018                 Salary    Short-        Long         Bonuses       Directors       Audit and      Remuneration        Investment       Social and      Total             Loans          Share-
                                term          term                       fees            risk           and nomination      committee        ethics          remuneration      advanced       based
                                benefits(1)   benefits                                   committee      committee                            committee                                        payment
                                                                                                                                                                                              expense
 Executive directors
 H Adams             3 825           1 473          124         4 862                -              -                   -                -               -           10 284               -          486
 T Karriem (2)       1 620              84          243         2 015                -              -                   -                -               -            3 962               -            -
           (3)
 D Pienaar           1 489              69           72         2 109                -              -                   -                -               -            3 739               -            -
 S Barends (4)       1 333              70          143           274                -              -                   -                -               -            1 820               -            -
 Sub-total           8 267           1 696          582         9 260                -              -                   -                -               -           19 805               -          486

 Non-executive directors
 A Abercrombie           -                -            -             -            195               -                  67               10              37              309               -            -
 W Geach                 -                -            -             -            212              93                   -                -               -              305               -            -
 R Hargey                -                -            -             -            219               -                   -                -               -              219               -            -
 C Priem                 -                -            -             -            248             143                  53               10               -              454               -            -
 N Maharaj               -                -            -             -            246              80                  98                -              20              444               -            -
 N Mlambo                -                -            -             -            212               -                  67                -               -              279               -            -
 Sub-total               -                -            -             -          1 332             316                 285               20              57             2010               -            -
 
 Total               8 267            1 696          582         9 260          1 332             316                 285               20              57           21 815               -          486

(1) Short-term benefits include medical aid contributions, allowances and fringe benefit tax on interest-free loans.
(2) T Karriem resigned as executive director on 02 April 2018. Amounts disclosed above include remuneration for 11 months.
(3) D Pienaar resigned as executive director on 07 November 2017. Amounts disclosed above include remuneration for 5 months.
(4) S Barends resigned as executive director on 30 June 2018. Amounts disclosed above include remuneration for 12 months.


The Summarised Financial Statements have been updated to reflect the corrected notes and are available on the Company’s website at https://thevault.exchange/?get_group_doc=13/1538470656-
GrandParadeAnnualResultsBooklet12401V820181002SLS08h45.pdf


Cape Town
02 October 2018

Sponsor
PSG Capital

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