| Thu 29 Sep 2011, 16:00 | | RTO/RTN/RTOP - Rex Trueform Clothing Company Limited - No change statement |
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RTO RTOP RTN
RTO
RTO/RTN/RTOP - Rex Trueform Clothing Company Limited - No change statement
and notice of Annual General Meeting
REX TRUEFORM CLOTHING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1937/009839/06
Share code: RTO ISIN: ZAE000006144
Share code: RTN ISIN: ZAE000009700
Share code: RTOP ISIN: ZAE000006151
("Rex Trueform" or "the Company")
NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING
Shareholders are advised that the company`s integrated annual report,
incorporating the audited financial statements for the year ended 30 June
2011, was dispatched today and other than as disclosed below contains no
changes to the reviewed results which were announced on SENS on Thursday, 8
September 2011.
Changes to the reviewed results:
STATEMENT OF FINANCIAL POSITION
Group Group
(R`000) (R`000)
2011 2010
(Audited) (Audited)
ASSETS
Non-current assets 83 855 71 070
Property, plant and equipment 69 328 57 394
Investment property 5 776 3 511
Intangible assets 1 455 2 107
Other investments 576 576
Deferred taxation 6 720 7 482
Current assets 243 827 222 487
Inventories 71 099 57 994
Accounts receivable from holding company 282 100
Trade and other receivables 21 562 21 005
Forward exchange contracts - 522
Income tax receivable 2 035 1 235
Cash and cash equivalents 148 849 141 631
Total assets 327 682 293 557
EQUITY AND LIABILITIES
Capital and reserves 268 113 235 866
Share capital 1 777 1 777
Share premium 25 836 25 847
Treasury shares (1 762) (2 216)
Other reserves 968 900
Retained earnings 241 294 209 558
Non-current liabilities 16 099 15 715
Post-retirement liability 3 251 3 351
Accrued operating lease liability 9 577 9 141
Deferred taxation 3 271 3 223
Current liabilities 43 470 41 976
Provisions 467 560
Trade and other payables 42 283 40 795
Forward exchange contracts 602 -
Income tax payable 118 621
Total equity and liabilities 327 682 293 557
Notes:
1. In the reviewed results previously published the deferred taxation
liability was netted off against the deferred taxation asset resulting
in only a deferred taxation asset being shown. As disclosed above,
these have now been separated into their respective components and
shown as separate line items. This adjustment is simply an allocation
adjustment and has no impact on the net asset value previously
published as per the reviewed results.
2. The statement of cash flows has had an amount of R193 000 (2010: R90
000) reclassified to "operating profit before working capital changes"
from "working capital changes" within the statement of cash flows. This
adjustment is simply an allocation adjustment and has no impact on
"cash and cash equivalents at the end of the year".
3. The depreciation and amortisation figure contained in the segmental
report had a rounding error of R1 000 which has now been corrected.
Furthermore shareholders` attention is drawn to the chief executive
officer`s review which appears on page 23 of the annual report and are
advised that due to a typographical error the fourth paragraph under "Retail
Segment" should read as follows:
"As a consequence of the reallocation of intersegment rentals, retail
segment operating margin was restricted to 9.2%. Had the reallocation not
taken place the retail segment operating profit margin would have been 9.5%
(2010: 9.5%)."
The integrated annual report contains a notice of Annual General Meeting for
the company, which will be held in the boardroom at Rex Buildings, 263
Victoria Road, Salt River, Cape Town, at 10h00 on Wednesday, 16 November
2011.
29 September 2011
Sponsor
Java Capital
Date: 29/09/2011 16:00:20 Produced by the JSE SENS Department.
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