To view the PDF file, sign up for a MySharenet subscription.

BALWIN PROPERTIES LIMITED - No Change Statement and Notice of Annual General Meeting

Release Date: 29/06/2018 15:41
Code(s): BWN     PDF:  
Wrap Text
No Change Statement and Notice of Annual General Meeting

Balwin Properties Limited
(Incorporated in the Republic of South Africa)
Registration number 2003/028851/06
Share code: BWN
ISIN: ZAE000209532
(“Balwin” or “the Group”)


No Change Statement

Shareholders are advised that the company’s 2018 integrated annual report, containing the consolidated
annual financial statements for the year ended 28 February 2018, was posted to shareholders on Friday,
29 June 2018 and contains no modifications to the financial information contained in the audited
provisional results which were published on 11 May 2018.

The consolidated financial statements for the year ended 28 February 2018 include a note detailing a
change in accounting estimate applied during the 2017 financial year to the event which results in the
significant risks and rewards of ownership transferring to the purchaser. The determination of this
change in the timing of revenue recognition required significant judgement. As a result of questions
raised by the JSE in their proactive monitoring review of our 2017 annual financial statements, the
directors are of the subsequent opinion that the change in the timing of recognition of revenue should
have been accounted for as a change in an accounting policy and thus retrospectively applied. We
confirm that there would have been no financial impact resulting from the retrospective change in the
accounting policy for the current financial year or any preceding financial year. The only period impacted
by the retrospective application of a change in accounting policy was the interim results for the six
month period ending 31 August 2016. We refer the user to the commentary previously included in the
interim results for this period which provided detail regarding the change. We further note that interim
results for 31 August 2016 (and consequently the comparative results to the interim results for
31 August 2017) have been revised and are available on the Group’s website.

Notice of Annual General Meeting

Notice is hereby given that the annual general meeting of ordinary shareholders will be held at the
offices of the Company, Block 1, Townsend Office Park, 1 Townsend Avenue, Bedfordview on Tuesday,
4 September 2018 at 08h00 to transact the business as stated in the annual general meeting notice,
forming part of the integrated annual report. The record date for shareholders to be recorded in the
register of Balwin shareholders in order to be able to attend, participate and vote at the annual general
meeting is Friday, 24 August 2018. Accordingly, the last date to trade in order to be registered in the
Balwin register of shareholders is Tuesday, 21 August 2018.

29 June 2018

Investec Bank Limited

Date: 29/06/2018 03:41:00 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.

Email this JSE Sens Item to a Friend.

Share This Story