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KGM
KGM
KGM - Kagiso Media - Change Statement And Notice Of Annual General Meeting
Kagiso Media Limited
(Registration number 1957/000036/06)
("Kagiso Media" or "the group" or "the company")
Share code: KGM & ISIN: ZAE000014007
CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING
CHANGE STATEMENT
Shareholders are advised that the Annual Report for the year ended 30 June 2009
was dispatched on 30 October 2009 and contains no material modifications to the
abridged audited financial results published on 22 September 2009 other than
those detailed below:
Note 4 (Business combinations) to the abridged audited financial results
incorrectly showed the minority interest in the acquisitions for the year as R
17 408 000 and R 2 773 000 instead of R 29 371 000 and R 4 442 000. The net
difference amounts to R 13 632 000. The impact of the above was that the
goodwill and minority interest on the balance sheet was understated by the same
amount. The difference does not impact income for the year or the earnings per
share. Net asset value per share is similarly unaffected.
The goodwill and minority interest were disclosed as R 172 265 000 and R 73 165
in the abridged audited financial results. They are disclosed as R 185 896 000
and R 86 797 000 in the annual report.
The effect of the change on the consolidated balance sheet is as follows:
As per As per
Annual SENS
report Announcement
30 June 30 June
2009 2009
(Audited) (Audited)
R`000 R`000
Assets
Non-current assets 643 688 630 056
Property, plant and equipment 42 731 42 731
Intangible assets 322 123 322 123
Goodwill 185 896 172 264
Investment in associates 58 750 58 750
Deferred income tax assets 20 538 20 538
Loans receivable 13 650 13 650
Current assets 448 044 448 044
Inventories 19 050 19 050
Trade and other receivables 253 238 253 238
Loans receivable 2 329 2 329
Cash and cash equivalents 173 427 173 427
Assets classified as held for sale 58 372 58 372
Total assets 1 150 104 1 136 472
Equity
Capital and reserves attributable to
equity holders
Ordinary share capital 1 338 1 338
Share premium 14 510 14 510
Revaluation and other reserves 88 515 88 515
Retained earnings 397 210 397 210
Total shareholders` equity 501 573 501 573
Minority interest 86 797 73 165
Total equity 588 370 574 738
Liabilities
Non-current liabilities 313 053 313 053
Borrowings 219 069 219 069
Deferred income tax liabilities 93 984 93 984
Current liabilities 227 175 227 175
Trade and other payables 188 162 188 162
Borrowings 20 969 20 969
Income tax liabilities 18 044 18 044
Liabilities directly associated with 21 506 21 506
assets classified as held for sale
Total liabilities 561 734 561 734
Total equity and liabilities 1 150 104 1 136 472
NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that the annual general meeting of
shareholders of Kagiso Media will be held on Tuesday, 24 November 2009 at 14:00
at Kagiso House, 16 Fricker Road, Illovo,2196, to transact the business stated
in the notice of annual general meeting, which notice forms part of the Annual
Report.
Johannesburg
29 October 2009
Sponsor
Investec Bank Limited
Date: 30/10/2009 07:30:01 Produced by the JSE SENS Department.
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