| Tue 25 May 2010, 15:12 | | HYP - Hyprop Investments Limited - Change statement and notice of annual general |
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HYP
HYP
HYP - Hyprop Investments Limited - Change statement and notice of annual general
meeting
Hyprop Investments Limited
Incorporated in the Republic of South Africa)
Registration No. 1987/005284/06)
Share Code: HYP
ISIN Code: ZAE000003430
("Hyprop")
CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING
Unit holders are advised that the company`s annual report, incorporating the
audited financial statements for the year ended 31 December 2009, was posted
today and is available on the company`s website (www.hyprop.co.za).
In the audited results announcement released on SENS on Tuesday, 2 March 2010
(the "audited results announcement") the amortisation of debenture premium was
disclosed as a distributable earnings adjustment.
In the annual financial statements the amortisation of debenture premium has
been disclosed as a headline earnings adjustment in accordance with SAICA
Circular 3/2009.
This adjustment is a disclosure issue only. The adjustment affects headline
earnings, but has no impact on distributable earnings or distributable earnings
per combined unit.
The effect of the adjustment is set out in the table below:
Annual Audited Results
Financial Announcement
Statements
Earnings 1 096 876 1 096 876
Headline earnings adjustments (434 053) (531 749)
Change in fair value of investment (434 053) (434 053)
property (net of deferred taxation)
Change in fair value before adjusting (580 121)
for deferred taxation
Deferred taxation 146 068
Amortisation of debenture premium (97 696)
Headline earnings 565 127 662 823
Distributable earnings adjustments (20 368) (118 064)
Change in fair value of investment (27 856)
property (net of deferred taxation)
Change in fair value of listed property (27 856)
Securities
Change in fair value before adjusting (32 391)
for deferred taxation
Deferred taxation 4 535
Change in fair value of derivative 15 461 15 461
instruments
Deferred taxation 1 481
Amortisation of debenture premium (97 696)
Amortisation of financial guarantee for (715) (715)
Associate
Deferred taxation 1 481
Share of income from associate (8 739) (8 739)
Distributable earnings 544 759 544 759
Other than the above there are no material changes to the audited results
announcement.
The annual report contains a notice of Annual General Meeting for Hyprop unit
holders, which will be held at the offices of Hyprop, 3rd Floor, North Wing,
Hyde Park Shopping Centre, Jan Smuts Avenue, on Tuesday, 22 June 2010 at 10h00.
25 May 2010
Sponsor
Java Capital (Proprietary) Limited
Date: 25/05/2010 15:12:02 Produced by the JSE SENS Department.
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