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RRM INVESTMENT HOLDINGS LIMITED - Audited Results for the six months ended 30
June 2002 and Agreement to Acquire International Grape Company (Pty) Ltd
RRM INVESTMENT HOLDINGS LIMITED
(Registration Number 1987/004368/06
("RRM" or the company)
ISIN number: ZAE000030078
Share code : RRM
Audited Results for the six months ended 30th June 2002 and
Agreement to Acquire International Grape Company (Pty) Ltd
BALANCE SHEET
30 June 30 June 2001 31 December
2002 R`000 2001
R`000 Unaudited R`000
Audited Audited
ASSETS
Current Assets
Bank Deposits 2 041 3 668 1 304
Accounts Receivable 33 117 1 462
2 074 3 785 2 766
CAPITAL AND
LIABILITIES
Share Capital and 86 86 86
Reserves
Preference Share
Capital
Ordinary Share 1 819 1 819 1 819
Capital
Share Premium 71 495 71 495 71 495
Accumulated Loss (71 408) (69 662) (71 079)
Shareholder`s Funds 1 992 3 738 2 321
Current Liabilities
Provision 82 47 445
2 074 3 785 2 766
Issued ordinary 181 870 808 181 870 808 181 870 808
shares
Weigthed average
number of ordinary 181 870 808 181 870 808 181 870 808
shares
Net asset value and
net tangible asset 1.05 2.03 1.23
value per share (c)
INCOME STATEMENT 6 months to 6 months to Year to
30 June 30 June 31 December
2002 2001 2001
R`000 R`000 R`000
Audited Unaudited Audited
INCOME
Interest Received 48 175 278
48 175 278
EXPENSES
Press Announcements 64 - -
Share Transfer & 123 39 97
Sponsor Fees
Professional Fees 11 - 334
Secretarial & 33 - 60
Accounting Fees
Other Expenses 147 35 1 103
378 74 1 594
Net (loss) profit (330) 101 (1 316)
(Loss)/earnings per (0.18) 0.06 (0.72)
share (cents)
Headline (0.18) 0.06 (0.72)
(loss)/earnings per
share (cents)
NOTE:
As was announced on the 30 August 2002, RRM has entered into
an agreement whereby, subject to certain conditions precedent,
RRM will acquire 100% of the issued share capital in and
claims against International Grape Company (Proprietary)
Limited, a table grape producing company registered in
Namibia. The rationale for the acquisition is to add value to
the company and provide RRM shareholders with sustainable
earnings.
P B GAIN
Director
G R TREAGUS
Director
Johannesburg
27 September 2002
STATEMENT OF CHANGES Ordinary Ordinary Preference Accumulated Total
IN EQUITY share share share loss
capital premium capital R`000 R`000
R`000 R`000 R`000
Balance at 1 January 1 819 71 495 86 (69 763) 3 637
2001
Net loss for year (1 315) (1 315)
Balance at 31 1 819 71 495 86 (71 078) 2 322
December 2001
Net loss for the (330) (330)
period
Balance at 30 June 1 819 71 495 86 (71 408) 1 992
2002
CASH FLOW STATEMENTS 6 months to Year to 31
June 2002 December 2001
Cash
generated/(utilized) 689 (2 611)
by operations
Net interest 48 278
received
Increase/(decrease) 77 (2 333)
in cash resources
Bank deposits at 1 304 3 637
beginning of period
Bank deposits at end 2 041 1 304
of period
NOTES
Basis of preparation
The financial statements have been prepared in accordance with
South African Statements of Generally Accepted Accounting
Practice.
Accounting policies
The accounting policies adopted are consistent with those
applied in the previous financial period.
Audit opinion
The company`s auditors are KPMG Inc. The audit opinion is
available for inspection at the company`s registered office.
SPONSOR
LPC MANHATTAN
Date: 27/09/2002 05:25:42 PM Produced by the JSE SENS Department
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