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EMG
EMG
EMG - Emergent Properties Limited - Pro Forma Financial Effects Of The
Acquisition Of Queensgate Business Development (Proprietary) Limited, Withdrawal
Of Cautionary Announcement And Appointment Of Company Secretary
EMERGENT PROPERTIES LIMITED
(Formerly Sizafika Investment Properties Limited)
Incorporated in the Republic of South Africa
(Registration number 1969/002908/06)
Share code: EMG & ISIN: ZAE000097754
("Emergent" or "the company")
PRO FORMA FINANCIAL EFFECTS OF THE ACQUISITION OF QUEENSGATE BUSINESS
DEVELOPMENT (PROPRIETARY) LIMITED, WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT AND
APPOINTMENT OF COMPANY SECRETARY
Pro forma financial effects
Shareholders are referred to the announcement published on SENS on 18 April 2008
relating to the acquisition by the company of Queensgate Business Development
(Proprietary) Limited ("QBD"), the pro forma financial effects of which are
detailed below.
The pro forma financial effects are the responsibility of the directors, have
been prepared for illustrative purposes only and due to their nature, may not
give a fair reflection of the balance sheet, statement of changes in equity,
results of operations or cash flows of Emergent after the acquisition has been
implemented.
Emergent Emergent Pro forma Percentage
30 Sept De-linking change
2007 and
Before Subdivision After
"A" "B" "C"
Earnings per linked 58.03 5.80 5.85 1%
unit/share (cents)
Headline earnings 58.03 5.80 5.85 1%
per linked
unit/share (cents)
Weighted average 8 739 790 87 397 900 256 397 900 193%
number of linked
units/shares
Net asset value per 178.63 17.86 19.12 7%
linked unit/share
(cents)
Net tangible asset 178.63 17.86 10.28 -42%
value per linked
unit/share (cents)
Number of shares in 8 739 790 87 397 900 256 397 900 193%
issue
Assumptions
1. Column "A" is extracted from the company`s last published results for the
year ended 30 September 2007.
2. Column "B" shows the sub-division of shares for purposes of comparison with
the de-linking of linked units and distribution of assets to redeem the
debentures is assumed to have a neutral effect on the transaction. The de-
linked shares will be subdivided on a 10:1 basis.
3. Column "C" shows the pro forma effects of the acquisition of QBD as though
the acquisition had been in effect as at 30 September 2007 for balance
sheet purposes and as at 01 October 2006 for income statement purposes.
The pro forma effects are based on extracts from the audited results of QBD
for the year ended 29 February 2008.
4. The minority shareholding of 20% in QBD has been assumed.
5 Costs relating to this transaction will be borne by the promoters.
6. Goodwill and other intangibles of approximately R22 664 950 are assumed to
arise on acquisition and no amortisation of intangibles or impairment of
goodwill has been assumed.
Withdrawal of cautionary
Following the publishing of the pro forma financial effects above, shareholders
are no longer required to exercise caution when dealing in their securities.
Appointment of Company Secretary
Shareholders are further advised that Arcay Client Support (Proprietary) Limited
have been appointed as company secretary to Emergent with immediate effect.
Johannesburg
30 April 2008
Lead Sponsor
Arcay Moela Sponsors (Proprietary) Limited
Transaction Sponsor
Merchant Sponsors (Proprietary) Limited
Date: 30/04/2008 17:42:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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