| Mon 14 Nov 2011, 17:36 | | RAR - Rare Holdings Limited - Changes to the reviewed provisional results |
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RAR
RAR
RAR - Rare Holdings Limited - Changes to the reviewed provisional results,
posting of integrated annual report, notice of Annual General Meeting and
posting of circular
RARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2002/025247/06
Share Code: RAR ISIN: ZAE000092714
("the Company" or "RARE")
CHANGEs to the reviewEd provisional reSULTS, POSTING OF integraTed ANNUAL
report, NOTICE OF ANNUAL GENERAL MEETING and posting of circular
Changes to the reviewed provisional results and posting of annual integrated
report
Shareholders are hereby advised that RARE`s 2011 integrated annual report, which
includes the annual financial statements for the year ended 30 June 2011, as
audited by Greenwoods Chartered Accountants and who`s unqualified audit report
is available for inspection at the Company`s registered office, is being
dispatched to shareholders today.
There have been no changes to the reviewed provisional financial results
announced on SENS on 17 October 2011, except for the following re-
classifications on the cash flow statement:
Before After
R`000 R`000 Change
Cash flows from operating
activities
Cash generated from/(used in)
operations (721) (14 432) (13 711)
Interest income 6 346 300 (6 046)
Finance costs (13 314) (15 797) (2 483)
Net cash from operating
activities (5 940) (28 180) (22 240)
Cash flows from investing
activities
Sale of other financial assets 13 150 8 385 (4 765)
Purchase of other financial
assets (39 992) (12 985) 27 007
Net cash from investing
activities (53 977) (31 737) 22 242
The re-classification is a result of the disposal of its majority shareholding
in the Angolan operations and thereby re-classifying it as a discontinued
operation. The cash flow effects of the Angolan operations are separately
disclosed in the notes to the financial statements. This re-classification had
no net effect on the results of the cash flow statement.
Notice of Annual General Meeting
Notice is hereby given that the Annual General Meeting ("AGM") of RARE
shareholders will be held at 10:00 on Thursday, 13 December 2011, at 22 Old
Vereeniging Road, Kliprivier, Midvaal, Johannesburg to transact the business as
set out in the notice of the Annual General Meeting included the integrated
annual report.
Posting of circular
Shareholders are further advised that a circular was dispatched to shareholders
today, relating to inter alia the following matters:
- the conversion of the Company`s par value shares into no par value
shares;
- the increase in the authorised no par value ordinary share capital of
the Company;
- the placing of the authorised but unissued ordinary share capital of
the Company under the control of the directors and authority
- to issue same, including the authority in terms of sections 41(1) and
41(3) of the Act; and
- consequential amendments to the Company`s Memorandum of Incorporation.
As set out in the notice of general meeting forming part of the aforementioned
circular, shareholders are further advised that a general meeting will be held,
after the conclusion of the AGM, at 12:00 on Thursday, 13 December 2011, at 22
Old Vereeniging Road, Kliprivier, Midvaal, Johannesburg to transact on the
matters.
Johannesburg
14 November 2011
Designated Adviser: PSG Capital (Proprietary) Limited
Date: 14/11/2011 17:36:05 Produced by the JSE SENS Department.
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