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SKW
SKW
SKW - Skinwell Holdings Limited - Annual report and notice of annual general
meeting
SKINWELL HOLDINGS LIMITED
(formerly Placecol Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2003/02574/06)
JSE code: SKW
ISIN: ZAE000135893
("Skinwell" or "the company")
ANNUAL REPORT AND NOTICE OF ANNUAL GENERAL MEETING
ANNUAL REPORT
Shareholders are advised that the company`s 2009 annual report, which contains
the audited annual financial statements for the year ended 28 February 2009,
will be dispatched to shareholders on Monday, 31 August 2009.
The directors have considered the deterioration in markets and the current
difficult trading conditions and have considered it prudent to provide for a
goodwill impairment of R6 982 336 and accordingly the following adjustments were
made to the reviewed results for the year ended 28 February 2009, which were
published on SENS on 29 May 2009:
Adjustmen Audited Reviewed
t February February
February 2009 2009
2009 R`000 R`000
R`000
Balance sheet
Goodwill and intangible (6 982) 10 191 17 173
assets
Equity (6 982) 40 050 47 032
Number of shares in issue at - 132 504 132 504
year-end 976 976
Adjusted number of shares in 98 405 98 405
issue at year-end (1) - 322 322
Net asset value per share (14.9%) 30.2 35.5
(cents)
Net tangible asset value per - 22.5 22.5
share (cents)
Adjusted net asset value per (14.8%) 40.7 47.8
share (cents)
Adjusted net tangible asset 30.3 30.3
value per share (cents) -
Adjustmen Audited Reviewed
t February February
February 2009 2009
2009 R`000 R`000
R`000
Income statement
Loss attributable to (11 602) (4 620)
ordinary shareholders (6 982)
Headline loss attributable (5 182) (5 182)
to ordinary shareholders -
Loss per share (cents) (>100%) (8.8) (3.5)
Headline loss per share - (3.9) (3.9)
(cents)
Adjusted loss per share (>100%) (11.8) (4.7)
(cents)
Adjusted headline loss per - (5.3) (5.3)
share (cents)
Note:
The number of shares adjusted for the repurchase and cancellation of 11 893 332
and 19 806 322 Skinwell ordinary shares for the sum of R2,00 from vendors and 2
400 000 ordinary shares issued to the Placecol Share Incentive Scheme, which
repurchases and cancellations were implemented on 17 June 2009 and 24 July 2009,
respectively.
NOTICE OF ANNUAL GENERAL MEETING
1 Notice is hereby given that the annual general meeting of shareholders of
the company will be held on Wednesday, 23 September 2009 at 10h00 at
Placecol Boulevard, Samrand to transact the business as stated in the
notice of annual general meeting forming part of the annual report.
Johannesburg
28 August 2009
Lead Designated Adviser
Grindrod Bank Limited
Corporate Adviser and Joint Designated Adviser
Vunani Corporate Finance
Date: 28/08/2009 16:38:02 Produced by the JSE SENS Department.
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