| Tue 5 Jun 2012, 14:09 | | STA - StratCorp - Review Opinion in respect of the Reviewed Condensed |
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STA - StratCorp - Review Opinion in respect of the Reviewed Condensed
Provisional Financial Statements for the year ended 29 February 2012
STRATCORP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2000/031842/06)
JSE code: STA
ISIN ZAE000034294
("StratCorp" or "the Company" or "the Group")
REVIEW OPINION IN RESPECT OF THE REVIEWED CONDENSED PROVISIONAL FINANCIAL
STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2012
StratCorp`s auditors have updated the review opinion, an extract of which was
quoted in the reviewed condensed provisional financial statements for the year
ended 29 February 2012 as confusion resulted in respect thereof. The Company
wishes to clarify that the statement "except for the possible effects of the
matter described in the Emphasis of Matter paragraph below" contained in the
review opinion in the results announcement published on SENS on 30 May 2012
which statement may deem the opinion to be a qualification, has been removed as
the review opinion contained an Emphasis of Matter and not a qualification.
StratCorp confirms that the review opinion contains an Emphasis of Matter as set
out below:
Conclusion
Based on our review, nothing has come to our attention that causes us to believe
that the annual financial statements do not present fairly, in all material
respects the financial position of StratCorp Limited as at 29 February 2012 and
its financial performance and cash flows for the year then ended, in accordance
with International Financial Reporting Standards and the requirements of the
Companies Act of South Africa.
Emphasis of Matter
Without qualifying our conclusion, we draw attention to the Going Concern Report
in these provisional financial results which indicates that the Group incurred a
net loss of R15,5 million for the year ended 29 February 2012, and the current
liabilities of the Group exceeded its current assets by R7,2 million as at 29
February 2012. The Going Concern report also indicates that these conditions,
along with other matters, indicate the existence of a material uncertainty
relating to the Group`s ability to continue as a going concern."
The review opinion is available for inspection at the company`s registered
office.
Pretoria
5 June 2012
Designated Adviser
Vunani Corporate Finance
Date: 05/06/2012 14:09:01 Produced by the JSE SENS Department.
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