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LABAT AFRICA LIMITED - Short Form Announcement - Change Statement and Notice of Annual General Meeting

Release Date: 16/02/2021 08:58
Code(s): LAB     PDF:  
Wrap Text
Short Form Announcement - Change Statement and Notice of Annual General Meeting

LABAT AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
(“Labat Africa” or “the Company”)
ISIN Code: ZAE 000018354 Share code: LAB

SHORT FORM ANNOUNCEMENT
CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING

Change Statement
Shareholders are advised that Labat’s Integrated Report incorporating, inter alia, the audited annual
financial statements for the year ended 31 August 2020 (“the Financial Statements”) and a notice of
annual general meeting (“AGM”) is available on the Company’s website, www.labat.co.za

The Financial Statements contain changes to the previously published Reviewed Provisional Condensed
Consolidated Financial Results for the Year Ended 31 August 2020, which were published on SENS on
4 January 2021 (“SENS Announcement”). Additional changes arose during the finalisation of the audit,
which changes were processed. The aforementioned changes resulted in a minor change to the
earnings and headline earnings per share information contained in the SENS Announcement.

The salient features of the Financial Statements highlighting the changes to the SENS Announcement
are set out below.

Short-Form Announcement
Extracted from the Financial Statements:

                                                 31 August 2020      31 August 2020
                                                        Audited            Reviewed         Difference
                                                         R ‘000              R ‘000            R ‘000
 Revenue                                                 40 251              40 252                (1)
 Operating loss                                         (38 696)            (36 741)           (1,955)
 Headline earnings per share (cents)                      (12.3)              (10.8)             (1.5)
 Earnings per share (cents)                                 3.1                 3.0               0.1
 Net Asset Value per share (cents)                         19.6                19.6                 -

This short-form announcement is the responsibility of the directors. It is only a summary of the
information contained in the Change Statement, Posting of Integrated Report, Notice of Annual
General Meeting and Broad-based Black Economic Empowerment Annual Compliance Report
Announcement (“Change Statement”) and does not contain full or complete details. Any
investment decisions by investors and/or shareholders should be based on a consideration of the
SENS Announcement read with the Change Statement which announcements are available on
the Company’s website (www.labat.co.za). The Change Statement can be accessed via the
following link:

https://senspdf.jse.co.za/documents/2021/JSE/ISSE/LAB/LABCHS21.pdf

The condensed consolidated financial results for the year ended 31 August 2020 have been audited by
the Company’s auditors, Nexia SAB&T, who expressed a qualified opinion thereon relating to the audit
of the financial statements for Force Fuel Proprietary Limited and Force Fuel Properties Proprietary Limited
(“Force Fuel”), which companies are in Business Rescue and the audit of which is still being finalised by
the component auditors of Force Fuel.

The audit opinion, which includes communication on key audit matters and the full details of the basis
for the qualified opinion, can be accessed by the following link:
https://labat.co.za/investor-relations/

Copies of the Full announcement may be requested from the Company (info@labat.co.za) or
inspected at the registered office and/or the Sponsors’ office, at no charge, during office hours.

Notice of Annual General Meeting and Amendment thereto
Notice is hereby given that the annual general meeting of ordinary shareholders will be held at 10:00 on
Tuesday, 11 May 2021, at 23 Kroton Avenue, Weltevreden Park, Johannesburg, to transact the business
as stated in the notice of annual general meeting forming part of the Integrated Report.

Record Dates
The record date on which shareholders of the Company must be registered as such in the Company’s
securities register in order to attend and vote at the annual general meeting is Friday, 30 April 2021. The
last day to trade in order to be eligible to vote at the annual general meeting will accordingly be
Monday, 26 April 2021.

The record date for shareholders to receive the Annual Report was Friday, 5 February 2021.

Johannesburg
16 February 2021

Sponsor
Acaciacap Advisors Proprietary Limited

Date: 16-02-2021 08:58:00
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.

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