|
CNX
CNX
CNX - Conafex - Change Statement, Audited Year End Results And Notice Of Annual
General Meeting
CONAFEX HOLDINGS SOCIETE ANONYME
(Incorporated in Luxembourg
RC Luxembourg No. B 17789)
JSE CODE: CNX ISIN: LU0243998001
("Conafex")
Registered Office:
58 rue Charles Martel,
L-2134, Luxembourg
CHANGE STATEMENT, AUDITED YEAR END RESULTS AND NOTICE OF ANNUAL GENERAL MEETING
("AGM")
CHANGE STATEMENT
Shareholders are referred to the preliminary unaudited results of Conafex
released on SENS on 22 December 2008 and are advised there are changes arising
from the audit which are produced below.
AUDITED RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2009
The 30 September 2008 year end audit was performed by International Audit
Services S.a r.l. whose unqualified report is available for inspection at 58 rue
Charles Martel, L-2134, Luxembourg
AUDITED CONSOLIDATED INCOME STATEMENT
YEAR ENDED 30 SEPTEMBER
2008 2007
R000 R000
Group revenue including share 45,957 43,536
of associates
Less share of revenue of (11,569) (16,356)
associates
Revenue (discontinued 34,388 27,180
activities - Nil (2007 -
R3,509,000)
Operating costs (36,084) (28,258)
Operating loss (1,696) (1,078)
Share of associated (282) 1,579
companies` results
Dividend receivable 336 393
Interest receivable **494 564
Exchange (losses)/gains (906) 505
Interest paid and similar
charges (273) (370)
(Loss)/Profit on ordinary
activities before exceptional
items and tax ** (2,327) 1,593
Exceptional items 1,495 (4,069)
Loss before tax and minority (832) (2,476)
interests
Profit before tax on 225
discontinued activities
Loss before tax on continuing
activities ** (832) (2,701)
Taxation on ordinary (410) (310)
activities
Loss after tax before
minority interests ** (1,242) (2,786)
Minority interests (414) (193)
Loss attributable to
shareholders of the Group ** (1,656) (2,979)
Reconciliation of headline
loss per share
Loss per share SA cents ** (65)c (159)c
Less exceptional items, net
of tax and minority interests ** (59)c 217 c
Headline (loss)/earnings per
share SA cents ** (124)c 58 c
** Changes from preliminary results released on 22 December 2008
AUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2007
Ordinary Legal Share Retained Total
share reserve premium earnings
capital * account
R000 R000 R000 R000 R000
Balance at start of 21,819 707 1,390 (103) 23,813
year
Exchange (2,448) (79) (156) 375 (2,308)
differences on
translation of the
financial
statements and net
losses not
recognised in the
income statement
Shares issued 7,000 - 1,851 - 8,851
during year
Fair value - - - 294 294
adjustment
Net loss for the - - - (2,979) (2,979)
year
Balances at end of 26,371 628 3,085 (2,413) 27,671
year
FOR THE YEAR ENDED 30 SEPTEMBER 2008
Balance at start of 26,371 628 3,085 (2,413) 27,671
year
Exchange **- - - 46 46
differences on
translation of the
financial
statements and net
losses not
recognised in the
income statement
Fair value - - - (427) (427)
adjustment
Net loss for the **- - - (1,656) (1,656)
year
Balances at end of **26,371 628 3,085 (4,450) 25,634
year
*Luxembourg law requires that an appropriation of at least 5% of the Company`s
own annual distributable profit be made to legal reserve until such time as the
reserve attains 10% of the issued share capital. Consequently the directors are
not required to transfer to legal reserve from the retained loss for the year.
Distribution of this reserve is restricted.
** Changes from preliminary results released on 22 December 2008
AUDITED CONSOLIDATED BALANCE SHEET
AT 30 SEPTEMBER
2008 2007
R000 R000
Assets
Non current assets
Intangible assets 1,482 1,482
Property, plant and equipment 3,938 4,266
Investments 10,064 11,098
15,484 16,846
Current assets
Inventories 6,194 8,895
Trade and other accounts **7,136 6,770
receivable
Cash and bank balances 8,587 10,996
**21,917 26,661
Current liabilities
Accounts payable falling due (8,563) (13,381)
within one year
Net current assets **13,354 13,280
Total assets less current **28,838 30,126
liabilities
Creditors due after more than one (277) -
year
Deferred taxation (184) (125)
**28,377 30,001
Capital and reserves
Called up share capital 26,371 26,371
Share premium account 3,085 3,085
Legal reserve 628 628
Retained earnings ** (4,450) (2,413)
Shareholders` funds **25,634 27,671
Minority interests 2,743 2,330
**28,377 30,001
** Changes from preliminary results released on 22 December 2008
AUDITED CONSOLIDATED CASH FLOW STATEMENT
YEAR ENDED 30 SEPTEMBER
2008 2007
R000 R000
Cash Flows from operating
activities
Cash (utilised)/generated by ** (2,690) 172
operations
Interest paid (273) (370)
Taxation paid ** (15) (233)
Net cash outflow from operating ** (2,978) (431)
activities
Investment activities
Purchase of tangible assets (829) (3,004)
Proceeds on disposal of tangible **403 198
fixed assets
Proceeds on disposal of - 2,990
investments
Further acquisition of minority - (647)
interest in Accord Tea Services
Interest received and other **830 957
investment income
Net cash (outflow)/inflow from **404 494
investment activities
Net cash (outflow)/ inflow
before financing ** (2,574) 63
Financing
Proceeds of new shares issued, - 8,851
net of costs
Increase/(Decrease) in long term 277 (273)
debt
Net cash inflow from financing 277 8,578
Net (decrease)/increase in funds ** (2,297) 8,641
Net funds at start of year 10,808 2,000
Effect of foreign exchange rate
changes **30 167
Net funds at end of year 8,541 10,808
** Changes from preliminary results released on 22 December 2008
Notes:
1.Investments have been reflected in accordance with IAS 39. The results for
the year ended 30 September 2008 and the balance sheet at that date have been
prepared on the basis of accounting policies adopted for the period ended 30
September 2007. The financial statements comply with International Financial
Reporting Standards.
2.Capital expenditure during the year was R829,000 (2007 - Nil). At 30
September 2008, there were no material outstanding capital commitments (2007 - R
Nil).
3.Earnings per share are based on the results attributable to shareholders and
the average number of shares in issue during the year - 2,549,131 (2007 -
1,872,045).
POSTING OF THE AUDITED RESULTS AND NOTICE OF AGM
The audited Annual Financial Statements ("AFS") of the company for the year
ended 30 September 2008 will be posted on or about 6 February 2009.
The Annual General Meeting of the Company will take place on Friday 27 March
2009 at 3.30 p.m. at the registered office of the Company, 58 rue Charles
Martel, L-2134, Luxembourg.
The notice of the AGM is contained in the abovementioned AFS.
26 January 2009
Johannesburg
Sponsor
Sasfin Corporate Finance
(A division of Sasfin Bank Limited)
Date: 26/01/2009 11:38:02 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.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
