(Registration Number 1987/004368/06)
Share Code RRM
ISIN ZAE 000030078
("RRM" or the company)
AUDITED RESULTS FOR THE YEAR ENDED 31ST DECEMBER 2001 AND
NOTICE OF TERMINATION OF ACQUISITION OF MICOFIN RESOURCES (PTY) LTD
BALANCE SHEET
31 December 31 December
2001 2000
R'000 R'000
ASSETS
Current Assets
Bank deposits 1 304 3 637
Accounts receivable 1 462 -
2 766 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 (71 079) (69 763)
Shareholders' funds 2 321 3 637
Current liabilities
Provision 445 -
2 766 3 637
INCOME STATEMENT
31 December
2001
R'000
INCOME
Interest received 278
278
EXPENSES
Expenses in respect of acquisition
of Micofin Resources 1 006
Share transfer & sponsor Fees 97
Professional fees 334
Secretarial and accounting fees 60
Other expenses 97
1 594
Net loss for the year ended 31
December 2001 1 316
Number and weighted number of
ordinary shares in issue 181 870 808 181 870 808
Net asset value (cents) 1.3 2.0
Earnings and headline earnings per
share (cents) 0.7
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.
These financial statements have been prepared in accordance with Generally
Accepted Accounting Practice.
NOTICE OF TERMINATION OF ACQUISITION
As was announced most recently on 19th February2002 certain approvals were
required before RRM could proceed with the proposed acquisition of Micofin
Resources (Pty) Ltd ("MR"). As the necessary approvals could not be
obtained, the proposed acquisition of MR by RRM will not be realised. The
directors of RRM are now considering certain proposals for the company and
will make a further announcement as soon as possible.
P B GAIN G R TREAGUS
Director Director
Johannesburg
28 March 2002
SPONSOR
LPC MANHATTAN
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
