| Mon 28 Oct 2024, 12:40 | | Notice of availability of annual financial statements of guarantors |
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Notice of availability of annual financial statements of guarantors
KAP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1978/000181/06)
Company Alpha Code: KAP
LEI code: 3789001F51BC0045FD42
('KAP' or 'the Company')
NOTICE OF AVAILABILITY OF ANNUAL FINANCIAL STATEMENTS OF GUARANTORS
Further to the announcement released on SENS on 30 August 2024 regarding the availability of KAP's annual
financial statements for the year ended 30 June 2024, debt holders are hereby advised that the audited annual
financial statements of the following guarantors of KAP:
• KAP Automotive Proprietary Limited;
• Restonic Proprietary Limited;
• PG Bison Proprietary Limited;
• Safripol Proprietary Limited;
• Unitrans Passenger Proprietary Limited; and
• Unitrans Supply Chain Solutions Proprietary Limited,
are available for inspection at KAP's registered office at 3rd Floor, Building 2, The Views, Founders Hill Office
Park, 18 Centenary Street, Modderfontein, Johannesburg, 1645.
The audit reports relating to the annual financial statements of the aforementioned guarantors are unqualified.
Restatement of prior year error – Safripol Proprietary Limited ("Safripol")
During October 2023, management detected that a raw material supplier had incorrectly applied a contractual
pricing formula for the period 1 February 2022 to 30 September 2023. This resulted in Safripol being
overcharged, with a resultant overstatement in raw material purchases amounting to R183 million, of which
R163 million related to the period prior to 1 July 2023. The error was immediately corrected, and the
overcharges recovered from the supplier. The prior year has been restated to correct the impact of the error,
effectively increasing the prior year's earnings. The impact of the restatement is disclosed in the notes to
Safripol's annual financial statements for the year ended 30 June 2024.
Stellenbosch
28 October 2024
Debt Sponsor
PSG Capital
Date: 28-10-2024 12:40:00
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