LAB
LAB
LAB - Labat Africa Limited - Emphasis of matter
LABAT AFRICA LIMITED
Incorporated in the Republic of South Africa)
(Registration number: 1986/001616/06)
Share Code: LAB ISIN: ZAE000018354
("Labat" or "the company")
EMPHASIS OF MATTER
Shareholders are referred to the announcement released yesterday
detailing changes to the audited results in comparison to the reviewed
results for the year ended 28 February 2011 as announced on 1 June 2011.
The review opinion as announced on 1 June 2011 detailed an unqualified
report. The audit opinion, for the results as announced on 3 October
2011, contained an emphasis of matter.
The emphasis of matter relates to the following;
1. Without qualifying the auditor`s opinion, they draw attention to
note 27 of the financial statements which indicates why the
company`s financial are prepared on the basis of accounting
policies that are applicable to a going concern.
2. The audit report identified certain unlawful acts or omissions
committed by persons previously appointed to the Labat board and
then responsible for the management of the Company which constitute
reportable irregularities in terms of the Auditing Profession Act,
and have reported such matters to the Independent Regulatory Board
for Auditors. The matters pertaining to the reportable
irregularities have been described under the heading "Other legal
and regulatory requirements" to the directors` report.
Johannesburg
5 October 2011
Sponsors
Arcay Moela Sponsors (Pty) Ltd
Date: 05/10/2011 14:15:01 Produced by the JSE SENS Department.
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