Correction announcement – audited summarised consolidated financial results for the year ended 30 September 2020
(Incorporated in the Republic of South Africa)
Registration Number: 1968/008070/06
Share Code: NPK
(“Nampak” or “the Company”)
CORRECTION ANNOUNCMENT – AUDITED SUMMARISED CONSOLIDATED FINANCIAL
RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
Shareholders are referred to the announcement published by the Company
on the Stock Exchange News Service on 1 December 2020 (“the
Announcement”) wherein shareholders were notified that the full long
form announcement on the summarised consolidated financial statements
(“long form announcement”) was available.
The results, financial position and cash flows for the current and
previous years were presented and disclosed correctly in the annual
consolidated financial statements for the financial year ended 30
September 2020 (“annual financial statements”). However, it was
determined post publication that a number of disclosure related
corrections are required to ensure alignment of the long form
announcement to the annual financial statements. Shareholders are
therefore advised that the long form announcement has been amended.
There are two corrections in particular which should be noted:
- The comparative figure for exchange differences on translation of
foreign operations excluding Zimbabwe operations, as presented in
the summarised consolidated statement of comprehensive income,
should reflect a gain of R298.9 million as opposed to a loss of
R713.2 million. This did not impact the total other comprehensive
loss for 2019 as the sub-total was correct; and
- In note 18.1 of the notes to the summarised consolidated financial
statements, adjusted EBITDA for the current year should be R253.6
million as opposed to the disclosed figure of R280.1 million.
There were no errors in the computation or disclosure of the annual
financial statements, financial position or cash flows for the year
other than as indicated above. Other corrections are largely related to
wording used in the notes to the summarised consolidated financial
statements and as such, are not considered material.
The group's independent auditor, Deloitte & Touche (“Deloitte”),
conducted an audit of the corrected summarised consolidated financial
statements for the group for the year ended 30 September 2020. Deloitte
have issued an unmodified audit opinion on 21 December 2020 in terms of
the International Standards on Auditing, with an Emphasis of Matter
paragraph which draws attention to the fact that the summarised
consolidated financial statements have been revised and re-issued.
The corrected long form announcement, including the audit opinion of
the external auditor on the corrected summarised consolidated financial
statements, which also contains the Emphasis of Matter, is available on
the JSE website at
and on Nampak’s website at http://www.nampak.com/Investors/Financial-
under the 2020 financial year.
The annual financial statements as published and wherein no corrections
were required, including the external auditor’s report, is available at
under the 2020 financial year.
This announcement is the responsibility of the directors and contains
only parts of the long form announcement, which are derived from the
information in the annual financial statements approved on 30 November
Any investment decisions made by investors and/or shareholders should
be based on consideration of the corrected long form announcement as a
whole read together with the annual financial statements approved on 30
Copies of the corrected long form announcement and auditor's report
thereon may also be requested from the Group Company Secretary, Ilse
van Lochem on Ilse.vanLochem@nampak.com, alternatively collected from
the company's registered office, at no charge, during office hours.
22 December 2020
Sponsor: UBS South Africa (Pty) Ltd
Date: 22-12-2020 11:00:00
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