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Audited Abridged Summarised Consolidated Financial Results For The Year Ended 28 February 2019 And Notice Of AGM
MINE RESTORATION INVESTMENTS
LIMITED
Incorporated in the Republic of South Africa
Registration number: 1987/004821/06
Share code: MRI
ISIN: ZAE000164562
(“MRI” or “the Company” or “the Group”)
AUDITED ABRIDGED SUMMARISED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR
ENDED 28 FEBRUARY 2019 AND NOTICE OF ANNUAL GENERAL MEETING
The Board of Directors (“the Board”) of MRI is pleased to announce the audited abridged summarised
consolidated annual financial results for the year ended 28 February 2019.
Operational review and results:
The financial results of the Company for the year ended 28 February 2019, as compared to the year
ended 28 February 2018 are set out below:
Audited 28 Audited 28
February 2019 February 2018
Revenue (R’000) - -
Operating loss (R’000) (6 376) (2 842)
Basic loss per share (cents) (0.95) (0.43)
Headline loss per share (cents) (0.95) (0.43)
Unqualified audit opinion
The Company’s auditors, BDO South Africa Incorporated, issued an unqualified audit opinion for the
year ended 28 February 2019. An emphasis of matter paragraph was included in the audit report
regarding the existence of material uncertainty related to the going concern assumption. This is
attributable to the net loss incurred in the year ended 28 February 2019 of R8.1 million and the Group’s
total liabilities exceeding total assets by R16 million.
The underlying audited annual financial statements were prepared in accordance with International
Financial Reporting Standards and were based on appropriate accounting policies consistently applied
and supported by reasonable and prudent judgements and estimates.
No dividends were declared or paid during the period under review or during the comparative period.
This short form announcement is the responsibility of the Board and does not contain full or complete
details. The financial information has been correctly extracted from the underlying annual financial
statements. Any investment decisions by investors and/or shareholders should be based as a whole on
consideration of the audited annual financial statements and audit report for the year ended 28 February
2019 which may be downloaded from:
https://senspdf.jse.co.za/documents/2019/jse/ISSE/MRI/Feb19Prov.pdf; or
https://minerestoration.co.za/shareolders/
and may also be viewed, at no cost, at the registered office of the Company and the Johannesburg
office of its Designated Advisor, during ordinary business hours, for a period of 30 calendar days
following the date of this announcement.
NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that the annual general meeting of shareholders of the Company will be
held in the boardroom of 51 West Street, Houghton at 14:00 on 4 December 2019 (the “AGM”),
to consider and, if deemed fit, to pass, with or without modification, the ordinary and special
resolutions.
Shareholders entitled to attend and vote at the AGM, may in terms of section 58 of the
Companies Act, appoint one or more proxies to attend, speak and vote thereat in their stead. A
proxy need not be a shareholder of the Company.
Electronic Participation at the AGM
The Company will make provision for shareholders, or their proxies, to participate in the AGM by way
of electronic communication. Should you wish to participate in the AGM by way of electronic
communication, you will need to contact the Company at mike@unearthinternational.com (contact
person: Mike Miller) by Tuesday, 26 November 2019, so that the Company can provide for a
teleconference dial-in facility. Please ensure that if you are participating in the AGM via a teleconference
facility that the voting proxies are sent through to the company secretary, Neil Esterhuysen & Associates
Incorporated.
The costs of accessing any means of electronic participation provided by the Company will be borne by
the shareholder.
Record dates
In in terms of section 59(1) of the Companies Act, the following dates apply to the AGM:
2019
Record date for determining those shareholders entitled to receive the Friday 25 October
notice of AGM
Last day to trade in order to be eligible to participate and vote at the Tuesday 26 November
AGM
Record date to determine eligible shareholders who may attend, Friday 29 November
speak and vote at the AGM
Section 63(1) of the Companies Act requires that a person wishing to participate in the AGM (including
any representative or proxy) must provide satisfactory identification (such as identity documents,
driver’s licenses or passports) before they may attend or participate at such AGM.
Registered office: 1st Floor St James Office Park, 76 Concorde Road East, Bedfordview, Gauteng.
29 October 2019
Designated Advisor:
Questco Corporate Advisory Proprietary Limited
First Floor, Yellowwood House, Ballywoods Office Park, 33 Ballyclare Drive, Bryanston.
Date: 29/10/2019 02:45:00
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