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Anbeeco - Consolidated Audited Annual Financial Results Report For The Year
Ended 31 January 2005 And Further Cautionary Announcement
Anbeeco Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1984/002788/06)
Share code: AEC ISIN: ZAE000000162
(`Anbeeco` or `the company`)
CONSOLIDATED AUDITED ANNUAL FINANCIAL RESULTS REPORT FOR THE YEAR ENDED 31
JANUARY 2005 AND FURTHER CAUTIONARY ANNOUNCEMENT
SUMMARISED GROUP BALANCE SHEET
Audited Audited
12 months 18 months
ended ended
31 January 2005 31 January
2004
(R`000) (R`000)
ASSETS
Current assets 205 2 194
Accounts receivable 46 1 883
Taxation 106 65
Bank balances 53 246
Total assets 205 2 194
EQUITY AND LIABILITIES
Capital and reserves 1 136
Issued capital 2 651 2 651
General reserve 5 028 5 028
Accumulated loss (7 678) (7 543)
Current liabilities 204 2 058
Accounts payable 204 478
Loans payable - 1 580
Total equity and liabilities 205 2 194
SUMMARISED GROUP INCOME STATEMENT
Gross revenue 20 480
Cost of sales - -
Gross profit 20 480
Other income 211 641
Operating costs (418) (1 532)
Operating loss (187) (411)
Interest received 52 67
Finance costs - (24)
Net loss for period (135) (368)
Number and weighted average number of 14 978 039 14 978 039
shares in issue
Net asset value (cents) - 0.9
Loss per share (cents) (0.9 ) (2.5)
Headline loss per share (cents) (0.9 ) (2.5)
SUMMARISED GROUP CASH FLOW STATEMENT
Cash flows from operating activities 1 387 (1 860)
Cash flows from financing activities (1 580) 1 580
Decrease in cash (193) (280)
Cash at beginning of period 246 526
Cash at end of period 53 246
STATEMENT OF CHANGES IN EQUITY
Share Share General Accumulated Total
capital premium reserve loss
(R`000) (R`000) (R`000 ) (R`000 )
(R`000)
Balance 1 February
2004 150 2 501 5 028 (7 543) 136
Net loss for
period - - - (135) (135)
Balance 31 January
2005 150 2 501 5 028 (7 678) 1
COMMENTARY
These financial results have been:
* prepared in accordance with South African Statements of Generally Accepted
Accounting Practice and the accounting policies used are consistent with
those applied in the preparation of the audited results for the previous
financial year;
* audited by kpa Audit Group, Registered Accountants and Auditors, and the
report is available for inspection at Anbeeco`s registered office.
The directors refer shareholders to the announcement of 26 August 2004 and as
stated in that announcement, it is the `intention to cause the Anbeeco group to
become an active property owning, development and management group.` The
directors are working towards that objective and a further announcement in that
regard will be made in due course.
FURTHER CAUTIONARY ANNOUNCEMENT
Further to the announcement dated 29 March 2005, shareholders are advised that
negotiations are still in progress, which, if successfully concluded, may have a
material effect on the price of Anbeeco`s securities, and, accordingly,
shareholders are advised to continue exercising caution in their dealings in
Anbeeco shares pending a further announcement.
BY ORDER OF THE BOARD
12 May 2005
Directors Registered office
C Cohen (Chairman), G Itzikowitz Fourth floor, Bedford
(Chief executive officer), IS Schmidt, Centre, St Georges Street,
GN Trappler (independent non- Yeoville, 2198
executive)
Company secretary Transfer secretaries
Alan Menachemson Computershare Investor
Chartered Accountant (SA) Services 2004 (Pty)
8 Ligo Court Limited
15 Anne Street 70 Marshall Street,
2192 Johannesburg, 2001
PO Box 29501 (PO Box 61051,
Sandringham Marshalltown, 2107)
2131
Date: 12/05/2005 02:41:34 PM
Produced by the JSE SENS Department
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