Rrm Investment Holdings Limited - Unaudited Result
30 June 2001 and further cautionary
(Registration number 1987/004368/06)
("RRM" or "the company")
ISIN no : : ZAE 0000 30078
Share code : : RRM
Unaudited results for the half year ended 30 June 2001 and further
cautionary
Balance sheet
30 June 31 December
2001 2000
R'000 R'000
Assets
Current assets
Bank deposits 3 668 3 637
Accounts receivable and prepayments 117 -
3 785 3 637
Capital and liabilities
Share capital and reserves
Preference share capital 86 86
Ordinary share capital 1 819 1 819
Share premium 71 495 71 495
Accumulated loss (69 662) (69 763)
Shareholder's funds 3 738 3 637
Current liabilities
Provision 47 -
3 785 3 637
Income statement
30 June
2001
R'000
Income
Interest received 175
175
Expenses
Share transfer fees and sponsor's fees 39
Other expenses 35
74
Net profit for the six months ended
30 June 2001 101
Note
Taxation: It is estimated that no taxation is payable for the period owing
to assessable losses brought forward.
Comparative figures: No comparative figures are shown in the income
statement as the company sold its operating subsidiary companies during
December 2000. Comparative figures would therefore be meaningless.
Commentary
The company is proceeding with the proposed acquisition of Micofin Resources
(Pty) Limited about which details were previously announced on 29 June and 8
August 2001. Work is continuing on various aspects of the proposals and the
reports by competent persons and reporting accountants have been finalised.
The proposals are in the approval process with the JSE Securities Exchange
South Africa and have been approved in principle by the NSX (The Namibian
Stock Exchange). It is expected that a circular setting out full details of
the proposals and giving notice
of meetings of ordinary and preference shareholders of RRM will be posted to
shareholders during the second week of October 2001.
Cash flow and changes in equity statements have not been included in this
announcement due to the limited movement during the period.
Further cautionary
Until full details of the proposal have been announced shareholders are
asked to continue to exercise caution in dealing with their RRM shares.
PB Gain
Director
GR Treagus
Director
Johannesburg
27 September 2001
ISIN no: ZAE 0000 30078
Alpha code: RRM
Sponsor
LPC Manhattan Sponsors (Pty) Ltd
(Registration number 1999/024792/07)
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