ACT / ACTP - AfroCentric - Results Of Annual General Meeting
ACT ACTP
ACT
ACT / ACTP - AfroCentric - Results Of Annual General Meeting
AFROCENTRIC INVESTMENT CORPORATION LIMITED
(Formerly WB Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Codes: ACT, ACTP
ISIN: ZAE000078416, ZAE000082269
("AfroCentric" or "the Company")
RESULTS OF ANNUAL GENERAL MEETING
At the Annual General Meeting of AfroCentric held on 15 January 2008, all
the resolutions proposed were passed by the requisite majority of
shareholders.
QUALIFIED AUDIT OPINION
This SENS announcement also presents the opportunity to refer shareholders
to the JSE Limited SENS announcement dated 7 January 2008 advising
shareholders that the Annual Financial Statements for the year ended 30 June
2007 contains a qualified audit opinion.
The Board of Directors wishes it to be known that the qualification relates
to the non-consolidation of the Company`s brief farming activities carried
out in a subsidiary company disposed of prior to the Company (then WB
Holdings Limited) becoming a cash shell in December 2005.
Given the irrelevance of this data, the Company obtained the written
approval of the Registrar of Companies not to consolidate the brief trading
and farming activities of this subsidiary enterprise during that period.
The qualification is in strict compliance with International Financial
Reporting Standards ("IFRS"). Nevertheless, the auditors have confirmed
that the presentation of non consolidated information in respect of the 2006
financial year, has no adverse impact on the presented Company financial
statements for the year ended 30 June 2007.
Sandton
15 January 2007
Sponsor
Sasfin Capital
A division of Sasfin Bank Limited
Date: 15/01/2008 14:56:24 Produced by the JSE SENS Department.
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