Wrap Text
Summary Consolidated Results For The Year Ended 31 August 2018
PURPLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/013637/06)
Share code: PPE ISIN: ZAE000185526
("Purple Group" or "the Company" or "the Group")
SUMMARY CONSOLIDATED RESULTS
FOR THE YEAR ENDED 31 AUGUST 2018
LETTER FROM THE BOARD
"Purple Group Limited intend repositioning as Easy Investment Holdings Limited,
(subject to shareholders approval), a proudly South African innovator that is facilitating
affordable, accessible, and inclusive investing in South African and International markets.
GROUP HIGHLIGHTS
- Loss per share improved by 54% from a loss per share of 6.42 cents in the prior year
to a loss of 2.94 cents per share for the current year;
- Net asset value per share increased by 27% to 32.51 cents per share;
- The Groups debt profile was restructured through R25 million of funding raised from
a black empowered consortium, led by Bonang Mohale; and
- Sanlam Investment Holdings invested R100 million in EasyEquities and is an
engaged and supportive shareholder - ring-fenced cash resources to fund
EasyEquities growth.
EASYEQUITIES HIGHLIGHTS
- EasyEquities revenue increased by 68%;
- Platform assets increased by 144% to R3.5 Billion;
- Funded investment accounts increased by 77% to 68 739 accounts;
- Total retail deposits increased by 76% to R1.2 Billion for the year;
- RISE secured asset management mandates totalling R1 Billion during the year;
- RISE has been appointed as the fund administrator and investment manager of a
retirement fund, post year end, that will see it administering the retirement savings
of some 20 000 members with assets under management in excess of R2 Billion;
- Five key distribution channels established in EasyEquities;
- Pleasing take up and acceptance of an evolving EasyEquities product offering; and
- Low cost model gives customers a painless and affordable access to the markets.
GT247.COM HIGHLIGHTS
- GT247.com trading revenue increased by 13.9%;
- GT247.com costs decreased by 14.7%;
- Profit before tax increased by 141% to R10.2 million; and
- Clients successfully migrated to Meta Trader 5 trading platform.
A LANDMARK YEAR
2018 has been a landmark financial year for the Group. Affordable, accessible, and
inclusive investing is becoming a reality to a wider demographic in South Africa and
gaining momentum each month through the EasyEquities channel.
Our rapidly growing customer base displays the maturity and wisdom required to take
their future in to their own hands.
EasyEquities as a brand name is gaining recognition, creating products our customers
relate to.
Off a proven platform, management focus is now devoted to the growth and
development of the EasyEquities distribution channels.
A black empowerment consortium, led by Bonang Mohale, CEO of Business Leadership
South Africa, invested R25 million into Purple Group. This allowed the Group to settle
historic borrowings relating to the investment in Real People. The Group is privileged
to have an enthusiastic investor and participant in the business that in time we hope
will be a sizable broad-based BEE shareholder.
EasyEquities is an online, predominantly digital business, with a core of people that
fulfill various roles, including innovating, managing, helping, and educating. Our
expense base now reflects this reality. Harnessing social media as a tool means that
we can do away with traditional and expensive marketing techniques; almost half of
our new clients are referred by existing clients. We have moved in to new premises that
suit our needs far better and which cost us materially less per month to rent. As we
achieve our revenue hurdles, so the expense ratio reduces.
Delineated executive performance targets have been determined which are monitored
regularly for delivery thereon. Individuals are accountable for what they have been
tasked to achieve.
EXECUTING ON OUR STRATEGY
EasyEquities
EasyEquities leverages its innovative investment platform and technology stack
through various distribution channels:
Core offering
Founded in South Africa in 2014, originally targeting the heavily under invested Millennial
Generation, EasyEquities was built with the deep desire and purpose to democratize all
things investing. Since then it's been a wonderful journey. A library of global awards and
powerful partnerships gives credence to our success, having won everything from Best
Fintech, Best Startup, Most Innovative Business and Top Online Stockbroker. But the real
rewards come from our customers and the testimony they give to the difference we are
making in changing their financial lives, and the incredible stories of every day South
Africans taking up investing for the very first time.
EasyEquities solves three customer problem statements through a world first single
platform:
- Customers that know what shares they want to buy. (DIY Investing)
- Customers that don't know what shares they want to buy and prefer to have their
money managed by a market professional (Managed Portfolios)
- Customers who have financial goals but lack the confidence and understanding to
match these goals with their risk tolerance, time horizon and capital constraints
(Goal Based Investment Guide)
We built our loyalty program, Thrive, to drive and shape long-term investor behavior
rewarding them through zero brokerage benefits and other lifestyle experiences and
enticing them to level up their education through our academy, build community through
our referral and vouchering tools, and stay financially fit by putting their education into
practice on the platform.
Distribution channels
EasyEquities Direct
- Customers are acquired directly by EasyEquities through various marketing initiatives and
more importantly through referrals from existing customers (40% of clients are acquired
through referrals);
SatrixNow
- EasyEquities has white labelled its core platform to SatrixNow, who utilises the
platform to attract customers to invest in Satrix's ETFs and Unit Trusts:
Bidvest Bank Grow Account
- EasyEquities has provided customers of the recently launched Bidvest Bank Grow
Account the opportunity to invest seamlessly through the Bidvest Bank Grow Account
App, into the various investment products offered on the EasyEquities core platform;
RISE
- EasyEquities has been appointed by RISE to provide execution services in respect of
investment mandates secured by RISE and offer members of funds administered by
RISE various savings accounts;
EasyEquities Corporate Partnerships
- This revenue pillar enables listed companies to enter into agreements with
EasyEquities for company employees to be able to save and invest, or to partner with
EasyEquities to add the platform within a suite of financial services products, or as
part of their loyalty programme or share incentive programmes.
RISE
Retirement Investments And Savings For Everyone Proprietary Limited ("RISE") is:
- A joint venture (50/50) with NBC Fund Administration Services, registered as
Retirement Investments and Savings for Everyone (Pty) Ltd and trading as RISE.
RISE is a one-stop-shop integrated institutional administration and investment fund
management business.
- Through its proprietary administration and investment management system,
coupled with a first-of-its-kind member savings portal, RISE is equipped to reduce
the cost of administration and provide unparalleled efficiency and transparency to
all stakeholders.
- Contributions are seamlessly invested into selected portfolios and claims processed
within 96 hours of submission.
- Members are provided with real-time, online access to view their retirement savings
and the ability to complement their retirement savings through various investment
accounts. This includes a Rand-based Investment Account, a USD Investment
Account and a Tax-Free Savings Account with no minimum investment amounts or
prescribed investment periods.
GT247.com
GT247.com is the trading destination for active derivative traders. GT247.com is
an important complementary service for traders who require market leverage at
competitive rates. The platform provides traders with access to trade equity CFDs (listed
on the JSE) and derivatives in respect of over 60 currency pairs, all major international
indices, commodities and cryptocurrencies using Rands.
GT247.com offers the lowest commission rates in the market for retail investors, being
10 basis points. This, coupled with the successful migration to the Meta Trader 5 Trading
Platform during the past year, provides a compelling and competitive offering for our clients.
Emperor Asset Management
The strategy for Emperor Asset Management is to broaden the offering and client
base through offering managed portfolios on the EasyEquities platform and securing
institutional asset management and consulting mandates.
Over the past year several new investment strategies were formulated and listed on the
EasyEquities platform. The new offering now caters to a broad range of investor risk/
return requirements.
Emperor Asset Management is currently providing investment consulting services to
RISE and will be mandated as one of the investment managers appointed by RISE to
manage a portion of the investment mandates secured by RISE.
FINANCIAL ANALYSIS
CONSOLIDATED PROFIT AND LOSS (R'000)
Actual Actual Movement
FY 2018 FY 2017 %
Revenue 70 216 74 518 (6)
Commissions and research (3 982) (6 513) (39)
Operating expenses (94 045) (91 557) 3
Net loss (27 811) (23 552) 18
Other income 4 069 1 972 106
Loss before interest, depreciation and
amortisation (23 742) (21 580) 10
Net interest expense (4 316) (3 456) 25
Depreciation and amortisation (8 500) (4 837) 76
Loss before share of net profit of joint
venture, fair value impairment and
guarantee adjustments (36 558) (29 873) 22
Fair value impairments and guarantee
adjustments (6 540) (44 109) (85)
Share of net loss of joint venture accounted
for using the equity method (483) - N/A
Loss before tax (43 581) (73 982) (41)
Taxation 10 443 16 120 (35)
Loss for the period (33 138) (57 862) (43)
Loss attributable to:
Owners of the company (26 667) (57 862) (54)
Non-controlling interests (6 471) - N/A
Loss per share
Basic loss per share (cents) (2,94) (6,42) (54)
Headline loss per share
Headline loss per share (cents) (3,00) (6,42) (53)
The Group recorded a loss for the period of R26.7 million compared with R57.9 million in
the prior year. The basic loss of 2.94 cents per share and headline loss of 3.00 cents per
share compares with a loss of 6.42 cents per share on both a basic and headline basis
in the prior year.
EASYEQUITIES
EASYEQUITIES PROFIT AND LOSS (R'000)
Actual Actual Movement
FY 2018 FY 2017 %
Revenue 15 880 9 476 68
Commissions and research (884) (1 229) (28)
Operating expenses (42 049) (34 490) 22
Net loss (27 053) (26 243) 3
Other income 625 - N/A
Loss before interest, depreciation and
amortisation (26 428) (26 243) 1
Net interest (expense)/income 2 492 (2 419) (203)
Depreciation and amortisation (7 594) (3 386) 124
Loss before share of net profit of joint
venture (31 530) (32 048) (2)
Share of net loss of joint venture accounted
for using the equity method (483) - N/A
Loss before tax (32 013) (32 048) 0
- EasyEquities revenue was up 68%.
- Total expenses increased by 20.2% primarily due to higher professional fees and
employment related costs. Professional fees incurred during the period mainly
comprise audit fees in respect of the year-ended 31 August 2017 and legal consulting
fees paid, associated with the USD Investment Account and the Retirement Annuity
Account launched during the period. Additional staff resources were employed to
support the new products launched and the increased volumes generated by the
business.
- Management has implemented various initiatives over the past 12 months that
would result in containment of several expenses and in some cases a decrease over
the next 12 months.
GT247.COM PROFIT AND LOSS (R'000)
Actual Actual Movement
FY 2018 FY 2017 %
Asset management execution 2 601 10 506 (75)
Trading revenue 47 969 42 116 14
Revenue 50 570 52 622 (4)
Commissions and research (2 413) (4 566) (47)
Operating expenses (37 007) (41 624) (11)
Net income 11 150 6 432 73
Other income - - N/A
Profit before interest, depreciation and
amortisation 11 150 6 432 73
Net interest expense (113) (830) (86)
Depreciation and amortisation (843) (1 378) (39)
Profit before tax 10 194 4 224 141
- Trading Revenue is up 13.9% compared to the prior year, driven by several specific
market events and a general increase in market volatility, both of which drove trading
revenue.
- The revenue generated from asset management execution revenue was down 75%,
driven by a decrease in client funds invested in leveraged portfolios.
- Total expenses are 14.7% lower due to various cost saving initiatives implemented
over the past 18 months. Compared to FY 2016, total costs in respect of this business
have decreased by 26.1% (R13.9 million p.a.).
- With average monthly trading revenue of R4.0 million generated during FY 2018
and a projected monthly total cost base of R2.7 million (projected for FY 2019), the
business is well positioned to generate a reasonable profit.
EMPEROR ASSET MANAGEMENT PROFIT AND LOSS (R'000)
Actual Actual Movement
FY 2018 FY 2017 %
Revenue 3 707 12 420 (70)
Commissions and research (453) (718) (37)
Operating expenses (5 995) (5 775) 4
Net income (2 741) 5 927 (146)
Other income - - N/A
(Loss)/profit before interest, depreciation
and amortisation (2 741) 5 927 (146)
Net interest expense - - N/A
Depreciation and amortisation (26) - N/A
Profit/(loss) before tax (2 767) 5 927 (147)
- Revenue has decreased by 70% during the period, primarily due to a decrease in
client funds invested in its leveraged strategies, which have not performed well over
the past 3 years.
- With a relatively stable expense base, the focus over the next 12 months will be on
building its distribution through the EasyEquities platform and targeting institutional
asset management mandates with its range of new portfolios, which cater to the full
risk/reward spectrum.
PURPLE GROUP LIMITED AND INVESTMENTS PROFIT AND LOSS (R'000)
Actual Actual Movement
FY 2018 FY 2017 %
Revenue 59 - N/A
Commissions and research (232) - N/A
Operating expenses (8 994) (9 668) (7,0)
Net income (9 167) (9 668) (5)
Other income 3 444 1 972 75
Profit before interest, depreciation and amortisation (5 723) (7 696) (26)
Net interest expense (6 695) (207) 3 134
Depreciation and amortisation (37) (73) (49)
Loss before fair value impairment and guarantee
adjustments (12 455) (7 976) 56
Fair value impairment and guarantee adjustments (6 540) (44 109) (85)
Loss before tax (18 995) (52 085) (64)
- Operating expenses have decreased by 7% primarily driven by additional costs being allocated to
the operating subsidiaries, in line with services provided by Purple Group employed resources.
- Other income includes a profit of R3.4 million realised by Purple Group in respect of its investment
in Misty Sea Trading, which was realised for a total consideration of R6.1 million during the year. This
investment was carried at R2.7 million at 31 August 2017.
- At 31 August 2017, Purple Group provided for the estimated liability in respect of a joint and
several guarantee to the Industrial Development Corporation of South Africa (IDC) in respect of the
Group's indirect investment in Real People Investment Holdings Limited. During February 2018,
Purple Group reached final agreement with the IDC in respect of the debt owed to the IDC. In the
result, Purple Group was allocated a disproportionate share of this liability, an amount totalling
R35 million (being an additional R8.1 million above the amount raised at 31 August 2017), for
which Purple Group has reached payment terms. This write-down has been partially off-set by a
slight upward valuation of the investment.
On behalf of the board
Mark Barnes (Non-Executive Chairman)
Charles Savage (Chief Executive Officer)
Gary van Dyk (Chief Financial and Operations Officer)
GROUP OVERVIEW
The Group comprises the following lines of business:
EasyEquities
- EasyEquities provides low cost, accessible and inclusive investing for everyone,
through its proprietary investment platform and technology stack;
- EasyEquities is 70% owned by Purple Group and 30% by Sanlam Investment
Holdings Proprietary Limited;
- The EasyEquities product offering is offered directly to retail and institutional
clients and indirectly through various partnerships with like-minded institutions.
RISE
- RISE is a pension/provident fund administration and investment management
company founded in partnership with NBC Fund Administration Services
Proprietary Limited ("NBC").
- EasyEquities owns 50% of the RISE joint venture.
- In addition, EasyEquities is the execution service provider for RISE in respect of
investment management services.
GT247.com (to be renamed Easy Trader)
- GT247.com provides a low-cost trading destination, with best of breed trading
platform, for active derivative traders.
Emperor Asset Management (to be renamed Easy Investment Managers)
- Emperor provides managed portfolios to retail clients directly and through the
EasyEquities platform;
- Emperor has further developed its offering to target institutional asset
management mandates.
OPERATING SEGMENTS
The operating segments are distinguished by the type of business and the management team
responsible for the business unit. The Group comprises the following operating segments:
- GT247.com, and Emperor Asset Management (EAM): represent the derivatives
trading and asset management operations of the Group. These two businesses
operate largely off the same centralised resource base of the Group and
GT247.com generates a significant portion of its revenue for services performed for Emperor
clients.
- EasyEquities is the web-based investment platform of the Group.
- Investments represent fees and dividends earned on investments and fair value adjustments
made against them.
Purple Group
GT247.com Ltd and
and EAM EasyEquities Investments Total
R'000 R'000 R'000 R'000
2018
Segment asset
Non-current assets 13 178 45 190 267 939 326 307
Current assets 70 468 52 764 15 413 138 645
Total assets 83 646 97 954 283 352 464 952
Segment liabilities
Non-current liabilities - - 40 284 40 284
Current liabilities 65 430 33 384 31 365 130 179
Total liabilities 65 430 33 384 71 649 170 463
Purple Group
GT247.com Ltd and
and EAM EasyEquities Investments Total
R'000 R'000 R'000 R'000
2018
Revenue 54 277 15 880 59 70 216
Commissions and
research expenses (2 866) (884) (232) (3 982)
Operating
expenses (43 002) (42 049) (8 994) (94 045)
Net profit/(loss) 8 409 (27 053) (9 167) (27 811)
Other income - 625 3 444 4 069
Profit/(Loss)
before interest,
depreciation and
amortisation 8 409 (26 428) (5 723) (23 742)
Interest income - 2 687 - 2 687
Finance costs (113) (195) (6 695) (7 003)
Depreciation and
amortisation (869) (7 594) (37) (8 500)
Profit/(Loss)
before fair value,
impairment
adjustments and
tax 7 427 (31 530) (12 455) (36 558)
* Share-based payment expense of R5 528 252 is included in operating expenses.
The split per segment is as follows:
- GT247.com, EAM: R1 490 058.
- EasyEquities: R1 382 748.
- Purple Group Limited and Investments: R2 655 446.
Purple Group
GT247.com Ltd and
and EAM EasyEquities Investments Total
R'000 R'000 R'000 R'000
2017
Revenue 65 042 9 476 - 74 518
Commissions and
research expenses (5 284) (1 229) - (6 513)
Operating
expenses (47 399) (34 490) (9 668) (91 557)
Net profit/(loss) 12 359 (26 243) (9 668) (23 552)
Other income - - 1 972 1 972
Profit/(Loss)
before interest,
depreciation and
amortisation 12 359 (26 243) (7 696) (21 580)
Finance costs (830) (2 419) (207) (3 456)
Depreciation and
amortisation (1 378) (3 386) (73) (4 837)
Profit/(Loss)
before fair value,
impairment
adjustments and
tax 10 151 (32 048) (7 976) (29 873)
* Share-based payment expense of R5 703 650 is included in operating expenses.
The split per segment is as follows:
- GT247.com and EAM: R2 439 909.
- EasyEquities: R2 483 263.
- Purple Group Limited and Investments: R780 478.
EVENTS AFTER THE REPORTING DATE
The directors are not aware of any other matter or circumstance arising since the
reporting date to the date of this report, not otherwise dealt with in this report.
ANNUAL GENERAL MEETING
The Annual General Meeting of ordinary shareholders ("shareholders") of the
Company will be held at 16th Floor, 25 Owl Street, Braamfontein Werf, 2092 on
Monday, 7 January 2019 at 10:00.
Basis of preparation of the summary consolidated results
The summary consolidated financial results are prepared in accordance with the
requirements of the JSE Limited Listings Requirements for abridged reports, and the
requirements of the Companies Act of South Africa applicable to summary financial
statements. The Listings Requirements require abridged reports to be prepared in
accordance with the framework concepts and the measurement and recognition
requirements of International Financial Reporting Standards (IFRS) and the SAICA
Financial Reporting Guides as issued by the Accounting Practices Committee and
Financial Pronouncements as issued by the Financial Reporting Standards Council
and to also, as a minimum, contain the information required by IAS 34 Interim
Financial Reporting. This announcement does not include the information required
pursuant to paragraph 16A(j) of IAS 34. The full report is available on the issuer's
website, at the issuer's registered offices and upon request. The accounting policies
applied in the preparation of the consolidated financial statements from which the
summary financial statements were derived are in terms of International Financial
Reporting Standards and are consistent with those accounting policies applied in
the preparation of the previous consolidated annual financial statements, except
for the adoption of new, improved and revised standards and interpretations, which
had no material effect on the financial results. This report was compiled under the
supervision of Gary van Dyk CA(SA), Chief Financial and Operations Officer.
The summary consolidated financial statements do not include all of the information
required for full consolidated financial statements and should be read in conjunction with
the consolidated financial statements for the year ended 31 August 2018. The directors
take full responsibility for the preparation of the abridged report. This abridged report is
extracted from audited information, but is not itself audited.
Report of the independent auditors
The auditor, BDO South Africa Incorporated, expressed an unmodified audit opinion
on the consolidated financial statements from which these summary consolidated
financial results were derived. A copy of the auditor's unmodified report on the
consolidated financial statements are available for inspection at the Company's
registered office, together with the financial statements identified in the auditor's
report.
The auditor's report does not necessarily report on all of the information contained in
this announcement. Shareholders are therefore advised that in order to obtain a full
understanding of the nature of the auditor's engagement they should obtain a copy
of the auditor's report together with the accompanying financial information from the
Company's registered office. Any reference to future financial performance included
in this announcement has not been reviewed or reported on by the Company's auditor.
On behalf of the board
Mark Barnes (Non-Executive Chairman)
Gary van Dyk (Chief Financial and Operations Officer)
Johannesburg
30 November 2018
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
as at 31 August 2018
2018 2017
R'000 R'000
ASSETS
Equipment 3 944 3 168
Intangible assets 44 270 29 300
Goodwill 204 568 204 568
Investments 13 781 12 208
Investment in Joint Venture 631 -
Receivables 2 824 1 004
Deferred tax assets 56 289 45 845
Total non-current assets 326 307 296 093
Trade and other receivables 23 645 5 587
Current tax receivable 2 983 2 763
Investments 3 942 5 862
Receivables 742 1 886
Cash and cash equivalents 107 333 140 792
Total current assets 138 645 156 890
Total assets 464 952 452 983
EQUITY AND LIABILITIES
Share capital and premium 464 023 483 321
Accumulated loss (232 717) (273 506)
Equity component of a compound instrument 3 496 -
Other reserves 33 614 28 497
Equity attributable to owners 268 416 238 312
Non-controlling interest 26 073 -
Total equity 294 489 238 312
Borrowings 40 284 -
Financial guarantee - 26 887
Total non-current liabilities 40 284 26 887
Bank overdraft 4 080 13 614
Trade and other payables 22 061 13 618
Client position liability 79 716 140 552
Borrowings 24 322 20 000
Total current liabilities 130 179 187 784
Total equity and liabilities 464 952 452 983
Net asset value per share (cents) 32.51 25.54
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
for the year ended 31 August 2018
2018 2017
R'000 R'000
Revenue 70 216 74 518
Commissions and research expenses (3 982) (6 513)
Operating expenses (94 045) (91 557)
Net loss (27 811) (23 552)
Other income 4 069 1 972
Deficit before interest, depreciation and
amortisation (23 742) (21 580)
Interest income 2 687 -
Finance costs (7 003) (3 456)
Depreciation and amortisation (8 500) (4 837)
Loss before fair value, impairment adjustments
and tax (36 558) (29 873)
Fair value, impairments and guarantee
adjustments (6 540) (44 109)
Share of net loss of equity-accounted investee (483) -
Loss before tax (43 581) (73 982)
Income tax benefit 10 443 16 120
Loss for the period (33 138) (57 862)
Loss attributable to:
Owners of the Company (26 667) (57 862)
Non-controlling interest (6 471) -
(33 138) (57 862)
Weighted average number of ordinary shares in
Issue at end of year ('000) 905 972 901 334
Earnings per share
Basic loss per share (cents) (2.94) (6.42)
Headline loss per share (cents) (3.00) (6.42)
SUMMARY GROUP CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME
for the year ended 31 August 2018
2018 2017
R'000 R'000
Loss for the period (33 138) (57 862)
Other comprehensive (loss)/income
Items that may be reclassified subsequently to
profit or loss
Foreign currency translation reserve (411) 507
Total comprehensive loss (33 549) (57 355)
Total comprehensive loss
attributable to:
Owners of the Company (27 078) (57 355)
Non-controlling interest (6 471) -
(33 549) (57 355)
SUMMARY GROUP CONSOLIDATED STATEMENT OF CASH FLOWS
for the year ended 31 August 2018
2018 2017
R'000 R'000
Cash flows utilised in operating activities (77 310) (29 843)
Cash flows utilised in investing activities (19 846) (15 798)
Cash flows generated by financing activities 73 642 40 645
Net decrease in cash and cash equivalents (23 514) (4 996)
Effect of foreign exchange on cash (411) 507
Cash and cash equivalents at beginning of year 127 178 131 667
Cash and cash equivalents at 31 August 103 253 127 178
SUMMARY GROUP CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the year ended 31 August 2018
2018 2017
R'000 R'000
Balance at beginning of year 238 312 263 383
Loss for the period (26 667) (57 862)
Foreign currency translation reserve (411) 507
Shares issued - 26 580
Share-based payment expense 5 528 5 704
Sale of non-controlling interest in subsidiary 67 456 -
Treasury shares acquired (19 298) -
Borrowings raised with option to convert to
shares 3 496 -
Equity attributable to owners 268 416 238 312
Non-controlling interest 26 073 -
Balance at end of year 294 489 238 312
Readers are referred to the Letter from the Board for further
notes and the full annual report posted on the Company's website:
http://www.purplegroup.co.za/our-financials
The audited results are available on the Company's website:
http://www.purplegroup.co.za/our-financials
Registered office
16th Floor, 25 Owl Street, Braamfontein Werf, 2092
Independent auditors
BDO South Africa Incorporated
Chartered Accountants (SA)
Registered Auditors
22 Wellington Road, Parktown, 2193, Private Bag X60500, Houghton, 2041
Group secretary
4 Africa Exchange Registry Proprietary Limited
Cedarwood House, Ballywoods Office Park, 33 Ballyclare Drive, Bryanston, 2121
Sponsor
Deloitte & Touche Sponsor Services Proprietary Limited
Building 8, Deloitte Place, The Woodlands, 20 Woodlands Drive, Woodmead, 2196
Private Bag X6, Gallo Manor, 2052
Directors
Mark Barnes Non-Executive Chairman
Charles Savage Chief Executive Officer
Gary van Dyk Chief Financial and Operations Officer
Dennis Alter Independent Non-executive Director
Craig Carter Independent Non-executive Director
Ronnie Lubner Non-executive Director
Date: 30/11/2018 09:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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