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OCTODEC INVESTMENTS LIMITED - ANNOUNCEMENT
OCTODEC INVESTMENTS LIMITED
and its subsidiaries
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
Registration Number 1956/002868/06
(ALPHA CODE : OCT)
ISIN : ZAE 000005104
ANNOUNCEMENT REGARDING:
Restated results, for the year ended 31 August 2002, communicated to linked
unit holders on 25 October 2002.
The restatement of the results are due to property revaluations not
previously accounted for in the income statement as required by AC135. The
restatement does not have any effect on the distribution
for the year ended 31 August 2002 and is merely an adjustment to comply
with South African Statements of Generally Accepted Accounting Practice.
The effect on the results is reflected below.
The company`s auditors, Deloitte & Touche have examined and reviewed the
basis and assumptions of the results. A copy of their rview is available
for inspection.
CONSOLIDATED INCOME STATEMENT
R`000 2002
Profit before debenture interest (as previously stated) 32,631
Adjustment to current valuation (investment properties) 3,753
Profit before debenture interest (restated) 36,384
Earnings per linked unit (cents) 53,6
HEADLINE EARNINGS PER SHARE TO EARNINGS PER SHARE RECONCILIATION
Cents: 2002
Headline earnings per share 44,5
Capital profit
Disposal of property 0,4
Acquisition of loan account 3,2
Adjustment to current property valuation 5,5
Earnings per share 53,6
STATEMENT OF CHANGES IN EQUITY
Share Non distri- Distribu- Total
Capital butable table
R`000 reserve reserve
Balance as at 1
September 2001 42,013 283 53,392
Adjustment to current
valuation (investment
properties) 3,753 (3,753) -
Profit attributable to
ordinary shareholders 6,374 6,374
Dividends paid (75) (75)
Transfer to non-distributable
reserve 2,439 (2,439) -
Balance as at 31 August 2002 48,205 390 59,691
By order of the board
6 November 2002
Date: 08/11/2002 08:55:14 AM Produced by the JSE SENS Department
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