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VUN
VUN
VUN - Vunani Limited - Posting of annual report and notice of annual general
meeting
VUNANI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/020641/06)
JSE code: VUN
ISIN: ZAE000110359
("Vunani")
POSTING OF ANNUAL REPORT AND NOTICE OF ANNUAL GENERAL MEETING
Annual financial statements:
Shareholders are advised that the audited annual financial statements for the
year ended 31 December 2009, which are included in the company`s annual report
for that year, will be dispatched to shareholders today (30 June 2010). The
annual financial statements have been issued without qualification. Detailed
below are modifications contained in the annual financial statements when
compared to the reviewed results for that year, which were published on SENS on
31 March 2010,which modifications did not impact the total comprehensive loss
for that year.
Notes Audited Adjust- Reviewed
ments
31.12.09 31.12.09
R`000 R`000 R`000
Consolidated statement of
comprehensive income
Revenue 1 125 046 3 111 121 935
Other income 1 12 574 (3 111) 15 685
Headline loss attributable 2 (140 440) (2 496) (137 944)
to equity holders
Headline loss per share 2 (11.0) (0.2) (10.8)
(cents)
Diluted headline loss per 2 (0.2) (10.8)
share (cents) (11.0)
Consolidated statement of
financial position
Investments in associates 3 245 812 12 868 232 944
Other investments - non- 4 572 757 (40 191) 612 948
current assets
Deferred tax asset 3 99 196 (5 500) 104 696
Other investments - 44 207 44 207 -
current assets 4
Trade and other 4 20 583 (3 973) 24 556
receivables
Trading securities - 249 (7 410) 7 659
current assets 3
Other financial 1 525 371 (42 760) 1 568 131
liabilities - non-current 5
liabilities
Other financial 43 746 42 760 986
liabilities - current 5
liabilities
Trade and other payables 42 979 (130) 43 109
6
Trading securities - 133 133 -
current liabilities 6
Segmental reporting
Revenue
Financial services 7 146 441 3 112 143 329
Attributable (loss)/profit -
for the year
Financial services 7 (19 540) (25 576) 6 036
Investment services 7 (139 241) 25 576 (164 817)
Total assets -
Financial services 7 199 552 (16 976) 216 528
Investment services 7 1 702 703 16 977 1 685 726
Notes to the condensed
consolidated financial
results
Goodwill impairment 2 (32 920) 2 496 (35 416)
Financial assets and 2 42 867 (2 496) 45 363
liabilities designated at
FVTPL
Notes:
1 The adjustment is as a result of a reallocation of income from other income
to revenue.
2 The adjustments are as a result of the reclassification of an impairment of
goodwill to financial assets and liabilities designated through profit or
loss. This reclassification impacts on headline loss attributable to equity
holders, headline loss per share and diluted headline loss per share.
3 The adjustment is as a result of the reclassification of the impairment in
2. above and the resultant deferred tax thereon.
4 The adjustment is as a result of the reclassification between non-current
and current assets.
5 The adjustment is as a result of the reclassification between non-current
and current liabilities.
6 The adjustment is as a result of the reclassification of trading securities
in trade and other payables.
7 The adjustments in the segmental report are attributable to the other
reclassifications mentioned above.
The consolidated statement of cash flows previously classified finance costs as
cash flows from operating activities. These costs have been reclassified as cash
flows from financing activities. The consolidated statement of cash flows is
impacted as follows:
Notes Restated Adjust-ments Audited as
audited previously
reported
31.12.08 31.12.08
R`000 R`000 R`000
Net cash inflows from 9 165 140 108 996 56 144
operating activities
Net cash outflows from 9 (298 022) - (298 022)
investing activities
Net cash inflows from 9 83 066 (108 996) 192 062
financing activities
31.12.09 31.12.09
R`000 R`000 R`000
Net cash 10 56 872 192 270 (135 398)
inflows/(outflows) from
operating activities
Net cash inflows from 10 29 965 (30 148) 60 113
investing activities
Net cash 10 (120 652) (162 123) 41 471
inflows/(outflows) from
financing activities
Notes:
8 The adjustments to the consolidated statement of cash flows for the year
ended 31 December 2008 are a result of the reclassification of finance
costs from cash flows from operating activities to cash flows from
financing activities.
9 The adjustments to the consolidated statement of cash flows for the year
ended 31 December 2009 are a result of the reclassifications detailed in
notes 1 to 8 above.
Notice of annual general meeting:
Notice is hereby given that the annual general meeting of shareholders of the
company will be held on Thursday, 19 August 2010 at 08h30 in the boardroom,
Vunani Limited, 151 Katherine Street, Sandton to transact the business as stated
in the notice of annual general meeting forming part of the company`s annual
report.
30 June 2010
Designated Adviser
Grindrod Bank Limited
Joint Designated Adviser
Vunani Corporate Finance
Date: 30/06/2010 17:17:01 Produced by the JSE SENS Department.
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