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Notice Of Annual General Meeting, Publication Of Integrated Annual Report And Change Statement
Tiso Blackstar Group SE
(Incorporated in England and Wales)
(Company number SE 110)
(registered as an external company with
limited liability in the Republic of South Africa
under registration number 2011/008274/10)
Share code: TBG
ISIN: GB00BF37LF46
(“Tiso Blackstar” or “the Company”)
NOTICE OF ANNUAL GENERAL MEETING, PUBLICATION OF INTEGRATED ANNUAL
REPORT AND CHANGE STATEMENT
Tiso Blackstar announces that the Company’s annual general meeting (“AGM”) will be held
at its registered office at Berkeley Square House, Berkeley Square, Mayfair, London, United
Kingdom W1J 6BD, on Wednesday, 11 December 2019 at 10:00am GMT (12:00pm SAST)
to transact the business as stated in the notice of AGM (“Notice”), as distributed to
Tiso Blackstar shareholders (“Shareholders”) today. A copy of the Notice is available
under the AGM Documents section on the Company’s website
http://www.tisoblackstar.com/tbg/investors/publications/. The date on which Shareholders
must be recorded as such in the share register to be eligible to attend and vote at the AGM
is Friday, 6 December 2019, with the last day to trade being Tuesday, 3 December 2019.
Tiso Blackstar further announces that its integrated annual report, which includes the
consolidated annual financial statements of the Company for the year ended 30 June 2019
(“Annual Financial Statements”), is available under the Annual Reports section on the
Company’s website http://www.tisoblackstar.com/tbg/investors/publications/.
The Annual Financial Statements contain no modifications to the reviewed provisional
condensed consolidated financial statements for the year ended 30 June 2019 (“Provisional
Results”), published on SENS on Monday, 21 October 2019, save for the below adjustment
arising from a reallocation between certain line items forming part of the statement of cash
flows (“Reallocation”) as illustrated below:
R‘000 Reviewed Year Audited Year
Reallocation
ended ended
impact
30 June 2019 30 June 2019
Cash flows from operating activities
Cash generated by operations 185,505 280,505 (95,000)
Net cash (utilised)/generated by operating (21,333) 73,667 (95,000)
activities
Cash flows from financing activities
Borrowings, finance leases, instalment sale
obligations and other financial liabilities raised 291,333 196,333 95,000
Net cash generated/(utilised) by financing 33,015 (61,985) 95,000
activities
The Reallocation was made due to the remaining purchase price owing to the sellers on
acquisition of First Impression Labels Proprietary Limited of R95.0 million was initially
included within “Trade and other payables”. However during the finalisation of the
Provisional Results, it was determined that it would be more appropriate for the R95.0
million to be categorised as “Other financial liabilities”. The liability was therefore correctly
reflected in the statement of financial position in the Provisional Results, however
unfortunately this Reallocation erroneously did not update within the statement of cash
flows.
The Reallocation had no impact on the Company’s previously reported financial position,
profitability or cash and cash equivalents available at either the beginning or the end of the
year.
In addition to the above, shareholders are advised that Deloitte & Touche issued an
unmodified review conclusion on the Provisional Results. The unmodified review report
includes an emphasis of matter to draw the users’ attention to the impact of the disposal of
certain Media, Broadcast and Content businesses and African associates (“the
Transaction”) on the financial statements. Shareholders subsequently approved the
Transaction and as such the emphasis is no longer applicable.
Deloitte & Touche have issued their unmodified audit opinion on the Annual Financial
Statements. The audit was conducted in accordance with International Standards on
Auditing and a copy of the unmodified auditor's report is included as part of the Annual
Financial Statements and is also available for inspection at the Company's registered office.
London
12 November 2019
Sponsor
PSG Capital
Date: 12/11/2019 05:40:00
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