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ASCENDIS HEALTH LIMITED - Further information in respect of restatement disclosed in Trading Statement

Release Date: 15/03/2019 15:43
Code(s): ASC     PDF:  
 
Wrap Text
Further information in respect of restatement disclosed in Trading Statement

Ascendis Health Limited
(Registration number 2008/005856/06)
(Incorporated in the Republic of South Africa)
Share code: ASC
ISIN: ZAE000185005
(“Ascendis Health” or “the Company”)

Further information in respect of restatement disclosed in Trading Statement

Shareholders are referred to the trading statement released by the Company on 8 March 2019 in terms
of which the Company advised shareholders as to an expected range for the earnings per share and
headline earnings per share for the six months ended 31 December 2018 (“Trading Statement”).

In the Trading Statement, the Company has also disclosed further information in respect of the
restatement of its financial results.

Shareholders are advised that the restatement in respect of the earnings per share and headline
earnings per share attributable to total operations, was as a result of an intercompany profit in inventory
(amounting to R25.5 million) not having been eliminated on consolidation in the interim financial results
in respect of the six months ended 31 December 2017. Cost of sales and inventory as at 31 December
2017 have therefore been restated in terms of IAS 8. The aforementioned restatement resulted in a
decrease in basic and diluted earnings per share of 5.5 cents. All intercompany profit in respect of
inventory eliminations have already been recorded for the year ended 30 June 2018.

Further information in respect of the aforementioned restatement will be contained in the interim
financial results of the Company for the period ended 31 December 2018 which will be released on
SENS on Monday, 18 March 2019.


Bryanston
15 March 2019

Sponsor
Questco Corporate Advisory Proprietary Limited

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