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OMN
OMN
OMN - Omnia Holdings Limited - Correction - Reviewed provisional results for the
year ended 31 March 2010
OMNIA HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/003680/06)
JSE Code: OMN
ISIN: ZAE000005153
("Omnia" or "the Company" or "the Group")
CORRECTION - REVIEWED PROVISIONAL RESULTS FOR THE YEAR ENDED 31 MARCH 2010
Omnia shareholders ("Shareholders") are referred to the reviewed provisional
results announcement for the year ended 31 March 2010 which was published on
SENS and in the press on Wednesday, 9 June 2010 ("Results Announcement").
HEADLINE EARNINGS
Shareholders are hereby advised that a line item pertaining to the calculation
of the headline earnings figure disclosed in the Results Announcement was
inadvertently omitted in the calculation of headline earnings of the Group for
the year ended 31 March 2010. Details of which are set out below.
The business combination agreement with Nalco Africa resulted in a profit on the
contribution to the associate of R 20 million. The effect of this adjustment is
a change in the headline earnings per share of the Group for the year ended 31
March 2010 from 124.2 cents per share to 80.6 cents per share.
For ease of reference the full revised headline earnings reconciliation is
provided below:
Restated As presented
for the in the
year ended Results
31 March Announcement
2010 before
restatement
R`millions R`millions
Net profit attributable to equity holders 56 56
of the Company
Adjustment for loss on disposal of fixed 1 1
assets
Adjustment for profit on businesses (20)
contributed to associate
Headline earnings 37 57
Divided by the weighted number of shares in 45 904 45 904
issue (`000)
Headline earnings per share (cents) 80.6 124.2
Fully diluted headline earnings per share 80.4 123.8
(cents)
CASH DIVIDEND WITH SCRIP ALTERNATIVE
In addition, as a result of the cash dividend with scrip alternative declared to
Shareholders, on 23 June 2009 the weighted average number of shares in issue was
used for the purposes of calculating various disclosures made on a per share
basis.
In the Results Announcement, this was incorrectly applied to the prior year
comparatives. These have been restated (as originally presented in the Group`s
Annual Financial Statements for the year ended 31 March 2009) as follows:
Restated As
2010 presented
comparative in the
figures Results
(as Announceme
presented nt before
in the restatemen
Group`s t
Annual
Financial
Statements
for the
year ended
31 March
2009)
Earnings per share (cents) 1 107.4 1 097.1
Diluted earnings per share (cents) 1 062.2 1 052.7
Net asset value per share (Rand) 48.16 47.69
Headline earnings per share (cents) 1 114.2 1 103.8
Diluted headline earnings per share 1 068.7 1 059.1
(cents)
Weighted average number of shares in 44 316 44 755
issue (`000)
Weighted average number of fully 46 204 46 643
diluted shares in issue (`000)
Number of shares in issue (`000) 44 370 44 809
The Group`s auditors, PricewaterhouseCoopers Inc., have reviewed the condensed
consolidated financial information for the year ended 31 March 2010 included in
the Results Announcement and the restated financial information presented in
this announcement and their unmodified review opinion is available for
inspection at the Group`s registered office during normal business hours.
Bryanston
15 June 2010
Sponsor: One Capital
Date: 15/06/2010 16:32:03 Produced by the JSE SENS Department.
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