| Mon 19 Nov 2001, 0:00 | | Mashold Consolidated Investment Holdings Limited |
|
Interim Report For The Six Months Ended 30 June
And Further Cautionary Announcement
(Trading as Community Technologies ("C-Tech"))
(Registration Number 88/03352/06)
(Share Code: CTH ISIN number: ZAE000022323)
REVIEWED INTERIM REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2001
AND FURTHER CAUTIONARY ANNOUNCEMENT
Unaudited Unaudited Audited
six months six months year
Abridged Income ended ended ended
Statement
30-Jun 30-Jun 31-Dec
2001 2000 2000
Turnover 3,525,238 5,885,867 15,144,920
Operating Loss (126,184) 41,211 (809,462)
Net Interest Received 3,389 1,015 (43,663)
Interest Received 3,389 1,015 5,622
Interest Paid - - (49,285)
Net Loss before (122,795) 42,226 (853,125)
Taxation
Taxation - (31,188) -
Net Loss after (122,795) 11,038 (853,125)
Taxation
Extraordinary Items - - (16,098,591)
Accumulated loss for (122,795) 11,038 (16,951,716)
the period
(Loss)/Earnings per (0.44) 0.07 (77.98)
share (cents)
Headline Loss per (0.36) 0.07 (3.71)
share
Reconciliation of
Headline Loss:
Net (Loss)/Income (122,795) 11,038 (16,951,716)
Exceptional Items - - 16,098,591
Goodwill amortized 22,420 - 44,841
Headline Loss (100,375) 11,038 (808,284)
Weighted Average 27,807,429 15,495,010 21,760,524
Number of Shares in
issue
Unaudited Unaudited Audited
Abridged Balance Sheet at at at
30-Jun 30-Jun 31-Dec
2001 2000 2000
ASSETS
Tangible Assets 115,102 91,808 133,093
Goodwill 381,150 448,411 403,570
Investment in - 98,591 -
Associate
Deposit (non-cash) - 16,000,000 -
Current Assets 1,321,169 2,351,164 1,381,243
1,817,421 18,989,974 1,917,906
EQUITY AND LIABILITIES
Stated Capital 22,330,000 22,330,000 22,330,000
Accumulated Loss (22,592,657) (5,507,108) (22,469,862)
Current Liabilities 2,080,078 2,167,082 2,057,768
1,817,421 18,989,974 1,917,906
Number of Shares in 21,760,524 21,760,524 21,760,524
issue
Net Asset Value per (1.21) 77.31 (0.64)
share
Tangible Net Asset (2.96) 75.25 (2.50)
Value per share
Unaudited Unaudited Audited
six months Six months Year
Statement of ended ended ended
Changes in
Equity
30-Jun 30-Jun 31-Dec
2001 2000 2000
Balance at beginning (139,862) 5,460,000 (58,146)
of period
Net Loss for the (122,795) 11,038 (16,951,716)
period
Issue of shares - 16,870,000 16,870,000
Balance at end of (262,657) 22,341,038 (139,862)
period
Unaudited Unaudited Audited
six months six months year
Cash Flow Statement ended ended ended
30-Jun 30-Jun 31-Dec
2001 2000 2000
Cash flow from (92,383) 11,038 (753,791)
operating activities
Changes in working (117,541) (43,886) 725,137
capital
Net cash flow from 10,000 99,771 (635,997)
investing activities
Net cash flow from - 50,000 870,000
financing activities
Net movement in cash (199,924) 116,923 205,349
and cash equivalents
Cash and cash equivalents 277,089 71,740 71,740
at beginning of period
Cash and cash equivalents 77,165 188,663 277,089
at end of period
NOTES
1. The interim report for the six months ended 30 June 2001
include
that of the holding company and the subsidiary EBS Computers (Pty)
Ltd. The comparative six monthly interim results for the period
ended 30 June 2000 have been restated to include the results of the
holding company and EBS Computers (Pty) Ltd only so as to show a
fairer comparison.
The results of Wonderland Amusement Centres and The Famous Butchers
Grill (Pty) Ltd have been excluded from the six monthly interim
results for the period ended 30 June 2000 as the acquisitions of
these businesses have been cancelled.
2. The interim financial statements for the six months ended 30
June 2001 have been reviewed by the auditors, Messrs. N. Price &
Co. The review report is available for inspection at the
registered office of the company. The auditors' review opinion is
as follows:-
"Based on our review, we report that nothing has come to our
attention that causes us to believe that the interim results are
not prepared in accordance with statements of generally accepted
accounting practice and in accordance with the accounting policies
of the company."
3. The extraordinary item for the year ended 31 December 2000
relates to the write off of the deposit of R16 million paid to the
vendors of the Globetrack acquisition, following the cancellation
of the said transaction
4. Messrs. S H Ehlers (4 September 2001), C Ploos van Amstel (23
October 2001) and W F Smith (31 August 2001) resigned as directors
and Mr B Davison was appointed as non executive director on 15
November 2001.
FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement dated 1
October 2001 and are advised that the company is still involved in
negotiations to acquire businesses and shareholders should
therefore continue to exercise caution when dealing in their shares
in C-Tech.
For and on behalf of the board of directors:
J S Coetzee
Cape Town
15 November 2001
Directors: J D Abrahams, W M Oosthuizen, A H Potgieter, J S Coetzee
Registered Office: 508 Manhattan Place, Bree street, cape Town,
8001.
Transfer secretaries: Mercantile Registrars Ltd, 10th Floor, 11
Diagonal Street, Johannesburg.
