| Wed 29 Feb 2012, 14:33 | | ZPT - Zaptronix Limited - Change statement notice of Annual General Meeting |
|
ZPT
ZPT
ZPT - Zaptronix Limited - Change statement, notice of Annual General Meeting
and reportable irregularity
ZAPTRONIX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1997/014928/06)
(Share Code: ZPT ISIN Code: ZAE000070934)
("Zaptronix" or "the Company")
CHANGE STATEMENT, NOTICE OF ANNUAL GENERAL MEETING AND REPORTABLE
IRREGULARITY
1. Change Statement
Shareholders are advised that the annual financial statements ("AFS") of
Zaptronix were distributed today, and contain no modifications to the
reviewed results for the year ended 31 August 2011 published on SENS on 20
December 2011 ("SENS announcement") save for the segment report which
contains errors and the segmental reporting of the I to I assets following
the restatement of the 2010 results, which has been corrected in the AFS as
detailed below:
Condensed Segment Report
SENS AFS Difference
announcement
Segment revenue:
Fleet management (Duo SP 29 953 8 121 21 832
and Zaptronix Systems)
RMS Technology 323 2 092 (1 769)
Zaptronix (Metering and 1 113 1 113 -
Corporate)
I to I assets 18 293 (18 293)
Internal segment revenue (1 769) (1 769) -
External revenue total 29 620 27 850 1 770
Operating (loss)/ profit
segment results (before
taxation):
Fleet management (Duo SP (1 906) 136 (2042)
and Zaptronix Systems)
RMS Technology 91 91 -
Zaptronix (Metering and (7 674) (7 673) (1)
Corporate)
I to I assets - 2043 2043
Total (9 489) (9 489) -
-
Segment assets: -
Fleet management (Duo SP 7 467 21 147 (13 680)
and Zaptronix Systems)
RMS Technology 5 008 6 193 (1 185)
Zaptronix (Metering and 11 510 7 976 3 534
Corporate)
I to I assets - 6565 (6565)
Eliminations - (16 862) 16 862
Total 23 985 25 019 (1 034)
2. Notice of Annual General Meeting
Notice is hereby given that the annual general meeting of shareholders will
be held at 10:00 on Tuesday, 27 March 2012 in the boardroom of the company at
Solution House, Gazelle Close, Corporate Park South, Midrand, Gauteng.
3. Reportable irregularity
In the reviewed results published on SENS on 20 December 2011 a reportable
irregularly was disclosed. Shareholders` attention is further drawn to the
following:
During the year liabilities owing to the South African Revenue Service
("SARS"), relating to employees tax and VAT have remained unpaid. The total
liability including interest and penalties is R5.1 million, which amount is
included in note 31 of the AFS posted today. This matter has been reported by
the auditors as a reportable irregularity and it is currently ongoing.
Subsequent to year-end the amount owing to SARS as described above was
reduced by R 1.2 million in the form of a long outstanding VAT refund owing
to Zaptronix which in turn reduced the amount owing to SARS to R 3.9 million.
Final settlement terms are currently being negotiated with SARS.
29 February 2012
Midrand
Designated Advisor:
Exchange Sponsors
Date: 29/02/2012 14:33:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
