| Fri 3 Nov 2023, 17:40 | | AFRICAN AND OVERSEAS ENTERPRISES LIMITED - Publication of audited AFS for 30 June 2023, integrated report, notice of AGM and availability of BBBEE report |
|
Publication of audited AFS for 30 June 2023, integrated report, notice of AGM and availability of BBBEE report
AFRICAN AND OVERSEAS ENTERPRISES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/027461/06)
JSE share code: AOO ISIN: ZAE000000485
JSE share code: AON ISIN: ZAE000009718
JSE share code: AOVP ISIN: ZAE000000493
("AOE" or "Group")
PUBLICATION OF THE AUDITED CONSOLIDATED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023,
ANNUAL INTEGRATED REPORT AND NOTICE OF ANNUAL GENERAL MEETING AND AVAILABILITY OF THE BROAD-BASED
BLACK ECONOMIC EMPOWERMENT ANNUAL COMPLIANCE REPORT
Shareholders are advised that the audited annual financial statements for the year ended 30 June 2023, on which the
auditors expressed an unmodified audit opinion ("AFS"), have been published and are available on the JSE's website
at https://senspdf.jse.co.za/documents/2023/jse/isse/AOO/AFS2023.pdf and on Rex Trueform's website at
https://rextrueform.com/wp-content/uploads/2023/11/AOE-2023-AFS.pdf. The AFS contain changes to the reviewed
condensed consolidated financial statements for the year ended 30 June 2023 which were released on SENS on 11
October 2023, as detailed below. The full auditor's report, together with the accompanying AFS, is also available for
inspection at the registered office of Rex Trueform.
Shareholders are further advised that the integrated annual report, incorporating summarised consolidated financial
results for the financial year ended 30 June 2023 and the notice of annual general meeting ("AGM") are available on
the Company's website at https://rextrueform.com/wp-content/uploads/2023/11/AOE-2023-IAR.pdf. It is anticipated
that the integrated annual report and notice of AGM will be posted on or about 7 November 2023 and a further
announcement will be released on the dispatch to shareholders of the integrated annual report and the notice of AGM.
The Company's report on corporate governance and the application of King IV principles have been published and are
available on the Company's website at https://rextrueform.com/wp-content/uploads/2023/11/AOE-2023-KING-IV-
APPLICATION-REGISTER.pdf.
The AGM will be held on Monday, 11 December 2023 at 11:00 am by way of electronic participation. The last day to
trade in order to participate in and vote at the AGM is Tuesday, 28 November 2023 and the record date for voting
purposes is Friday, 1 December 2023. Full details for purposes of electronic participation are set out in the notice of
AGM.
Shareholders are further notified that, in accordance with the JSE Listings Requirements, Rex Trueform's annual
compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act 53 of 2003 (as
amended) has been published and is available on the website at https://rextrueform.com/wp-
content/uploads/2023/11/AOE-2023-BBEEE-COMPLIANCE-REPORT.pdf.
.
Modifications to the reviewed condensed consolidated financial statements for the year ended 30 June 2023
("Modifications")
The Modifications highlight the change between the audited annual financial statements and the reviewed condensed
consolidated financial statements published on 11 October 2023. The change relates to the 2023 figures on the
Statement of Profit or Loss and Other Comprehensive Income and the 2022 and 2023 figures on the Statement of
Financial Position and the Statement of Changes in Equity.
These changes had no impact on earnings per share, headline earnings per share, net asset value, profit after tax or
total comprehensive income for the year, or the Statement of Cash Flows. The only impact is between line items on
the Statement of Financial Position, Statement of Profit or Loss and Other Comprehensive Income and the Statement
of Changes in Equity.
Audited Condensed
Annual Reviewed
Financial Financial
Statements Statements Difference
Group Group Group
2023 2023 2023
R'000 R'000 R'000
Statement of Financial Position
Non - Current Assets - Loans receivable ^ - 88 (88)
Current Assets - Loans receivable ^ 88 - 88
Statement of Profit or Loss and Other
Comprehensive Income
Net foreign exchange gain * 8,385 - 8,385
Fair value gains on contingent consideration * 8,500 - 8,500
Other operating costs * 408,456 391,565 16,891
Statement of Changes in Equity
Share Capital # - 9,713 (9,713)
Ordinary Share Capital # 9,163 - 9,163
Preference Share Capital # 550 - 550
Share-based payment and other reserves # - 2,852 (2,852)
Other Reserves > 111 - 111
Share-based payment reserves > 2,743 - 2,743
Retained Earnings ~ 204,598 202,901 1,697
Non-controlling Interest ~ 219,958 218,374 1,584
Audited Condensed Difference
Annual Reviewed
Financial Financial
Statements Statements
Group Group Group
2022 2022 2022
R'000 R'000 R'000
Statement of Changes in Equity
Share Capital # - 9,713 (9,713)
Ordinary Share Capital # 9,163 - 9,163
Preference Share Capital # 550 - 550
Share-based payment and other reserves # - (13,776) 13,776
Other Reserves > (16,516) - (16,516)
Share-based payment reserves > 2,743 - 2,743
Retained Earnings ~ 156,265 156,792 (527)
Non-controlling Interest ~ 183,004 183,475 (471)
^ This relates to a reclassification of a loan receivable from non-current to current based on the terms of the loan as
disclosed in the annual financial statements.
* Net foreign exchange gain and fair value gains on contingent consideration are noted separately in the audited annual
financial statements. However, these items were consolidated as part of other operating costs in the reviewed
condensed consolidated Statement of Profit or Loss and Other Comprehensive Income.
# Ordinary share capital and preference share capital are noted separately in the audited financial statements. However
these items were consolidated as part of share capital in the reviewed condensed consolidated Statement of Financial
Position and the Statement of Changes in Equity.
> Other reserves and share-based payment reserves are noted separately in the audited financial statements, however
these items were consolidated as part of other reserves and share-based payment reserves in the reviewed condensed
consolidated Statement of Changes in Equity.
~ Retained earnings and non-controlling interest in the reviewed condensed consolidated Statement of Changes in
Equity contained a calculation error corrected in the audited annual financial statements. This has no impact on the
Statement of Financial Position as the Statement of Financial Position was accurately disclosed.
3 November 2023
Sponsor
Java Capital
Date: 03-11-2023 05:40:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.