| Wed 26 Sep 2007, 16:10 | | MTZ - Matodzi - Changes to provisional results po |
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MTZ
MTZ
MTZ - Matodzi - Changes to provisional results, posting of annual financial
statements and notice of annual general meeting
MATODZI RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1933/004523/06)
Share Code : MTZ ISIN : ZAE000042412
("Matodzi" or "the Company" or "the Group")
CHANGES TO PROVISIONAL RESULTS, POSTING OF ANNUAL FINANCIAL STATEMENTS AND
NOTICE OF ANNUAL GENERAL MEETING ("AGM")
Shareholders are referred to the provisional results which were released on SENS
on Wednesday, 25 July 2007 and published in the press on Thursday, 26 July 2007.
The directors have elected to implement the terms of Circular 8 as issued by the
South African Institute of Chartered Accountants ("SAICA"). This has resulted in
changes to the provisional results for the year ended 31 March 2007.
Audited Audited Reviewed Reviewed
Year Year Provisional Provisional
ended ended Year ended Year ended
31 March 31 March 31 March 31 March
2007 2006 2007 2006
R000`s R000`s R000`s R000`s
Reconciliation between
attributable profit and
headline earnings
Attributable profit for 261 822 130 678 261 825 130 678
the year
Add/(Less):
Fair value adjustment of (2 000) (1 001) - -
investment properties
Write-off of loan to 4 800 - - -
minority shareholder
Impairment of mineral - 432 - 432
rights and mining assets
Profit on sale of (309 - (309 528) -
subsidiary 528)
Profit on restructuring - (181 - (181 143)
of debt 143)
Headline loss (44 906) (51 034) (47 703) (50 033)
Headline loss per share (12.1) (33.8) (12.9) (33.2)
- (cents)
Weighted average number 370 547 150 887 370 547 286 150 887 597
of ordinary shares in 286 597
issue
Diluted number of 370 547 370 547 370 547 286 370 547 286
ordinary shares in issue 286 286
BASIS OF PREPARATION
The provisional results were prepared in accordance with the
recognition and measurement requirements of International
Financial Reporting Standards ("IFRS"), and the preparation and
disclosure requirements of IAS 34 Interim Financial Reporting.
These accounting policies have been applied consistently to all
years presented in these condensed consolidated financial results.
The provisional results are the responsibility of the directors of
Matodzi.
In terms of Circular 8 SAICA, the directors have elected to
implement the requirements early for the current year under
review, this has resulted in the changes as disclosed above.
Percentage change from Audited Audited
Provisional Results to Year Year
Audited Financial ended ended
Results 31 March 31 March
2007 2006
% %
Headline loss 5.9 (2.0)
Headline loss per share 6.2 (1.8)
Diluted loss per share 6.2 (2.2)
POSTING OF ANNUAL FINANCIAL STATEMENTS
Shareholders are advised that the audited Annual Financial Statements of the
Company for the year ended 31 March 2007 are to be posted to shareholders on
Monday, 1 October 2007 and will be available on the Company`s website
www.matodzi.co.za. on the same date.
NOTICE OF AGM
Shareholders are also advised that the AGM of the Company will be held in the
auditorium, Ground Floor, 28 Harrison Street, Johannesburg, at 10h00 on
Thursday, 25 October 2007. The notice of the AGM is contained in the
abovementioned Annual Financial Statements.
For and on behalf of the board
Andrew Mlangeni Sello Mashao Rasethaba
Chairman Chief Executive Officer
26 September 2007 Johannesburg
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Registered office and Legal Adviser and Company Secretary:
Ms BE Morton
28 Harrison Street
Johannesburg 2001
(PO Box 11165 Johannesburg 2000)
Transfer secretaries:
Computershare Investor Services 2004 (Proprietary) Limited
70 Marshall Street Johannesburg 2001
(PO Box 61051 Marshalltown 2107)
Directors:
A Mlangeni (Independent Non-Executive Chairman)
SM Rasethaba (Chief Executive Officer)
AR Nkuhlu (Chief Operating Officer)
PH Gray (Non-Executive)
TS Kwinana (Non-Executive)
LA Maxwell (Non-Executive)
S Swana (Non-Executive)
Date: 26/09/2007 16:10:01 Produced by the JSE SENS Department.
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