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PNG
PNG
PNG - Pinnacle Point - Differences Between Audited Results and Reviewed Results
PINNACLE POINT GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2000/000059/06)
JSE Share code: PNG
NSE Share code: PNG
ISIN: ZAE000127122
("Pinnacle Point" or the "Company")
DIFFERENCES BETWEEN AUDITED RESULTS AND REVIEWED RESULTS
Shareholders are advised that the loss per share and the diluted loss per share
show a marginal improvement of 0.03 cents and 0.02 cents respectively.
The difference between the SENS announcement and these financial statements are
as follow:
Financial SENS Difference
statements Announcement
R`000 R`000 R`000
Consolidated Statement
of Financial Position
Accumulated loss 327 683 328 918 (1 235)
Non-controlling
interests (11 189) (12 424) 1 235
Borrowings current (383 161) (378 498) (4 663)
Trade and other
payables (111 917) (116 580) 4 663
Consolidated Statement
of Comprehensive Income
Impairment charges 78 665 - 78 665
Other expenses 117 440 196 105 (78 665)
Non-controlling
interests (29 191) (27 956) (1 235)
Basic loss per share
(cents) (5.63) (5.66) 0.03
Diluted loss per share
(cents) (3.95) (3.97) 0.02
Consolidated Statement
of Cash Flows
Net cash used in
operating activities (252 699) (231 615) (21 084)
Net cash used in
investing activities (36 416) (52 987) 16 571
Net cash generated from
financing activities 235 208 230 695 4 513
The SENS announcement, dated 31 May 2010, differs from the financial statements
for the following reasons:
1. Non-controlling interests due to calculation error;
2. Reclassification between trade payables and current borrowings;
3. Reclassification between other expenses and impairment charges; and
4. Non-cashflow items identified.
Johannesburg
30 September 2010
Designated Advisor
Arcay Moela Sponsors (Proprietary) Limited
Date: 30/09/2010 17:47:01 Produced by the JSE SENS Department.
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