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ELB - Posting Of Annual Report, Certain Reallocations And Notice Of AGM
ELB Group Limited
Incorporated in the Republic of South Africa
Registration number: 1930/002553/06
Share codes: ELR and ELRP
ISIN: ZAE000035101 and ZAE000035333
("ELB" or "the Company")
POSTING OF ANNUAL REPORT, CERTAIN REALLOCATIONS AND NOTICE OF ANNUAL GENERAL
MEETING
POSTING OF ANNUAL REPORT
Shareholders are advised that the 2005 annual report which contains the audited
2005 annual financial statements has been posted to shareholders today, 28
October 2005.
CERTAIN REALLOCATIONS
The annual financial statements contain no changes to the reviewed net profit,
headline earnings, equity and net cash flow included in the reviewed provisional
report and dividend announcement for the year ended 30 June 2005 (`the
provisional report"), which was released on SENS on 23 September 2005 and
published in the press on 26 September 2005. However, certain reallocations have
been made in the annual financial statements, the details of which appear below:
1 2005 financial year
1.1 Balance sheet
Income tax overpaid (included in `debtors and prepayments" under
current assets in the provisional report) and income tax payable
(included in `non interest bearing creditors and cash" in the
provisional report) have both been reduced by an amount of R 54 000.
The adjustment arises from an expense incorrectly allocated between
group companies.
There is no effect on net profit, headline earnings, equity and net
cash flow.
1.2 Cash flow statement
A cash inflow of R 242 000, included in `cash inflow / (outflow) from
financing activities" in the provisional report, and being the
reduction in the deferred rent expense (reflected under `non current
assets" in the balance sheet in the provisional report) for the year,
has been reallocated as follows:
1.2.1 R 158 000 now included as an outflow in `cash inflow / (outflow)
from investment activities", and being the additional deferred
rent expense incurred in the year.
1.2.2 R 400 000 now included as a positive non cash adjustment in `cash
outflow from operating activities before dividends paid", and
being the amount of the deferred rent expense amortised in the
year.
There is no effect on the net cash flow for the year.
2. 2004 financial year
Cash flow statement
2.1 A cash outflow of R 3 901 000, included in `cash inflow / (outflow)
from financing activities" in the provisional report, has now more
correctly been included in `cash inflow / (outflow) from investment
activities". This amount is the deferred rent expense incurred in the
2004 financial year.
2.2 In the provisional report the cash outflow reported in the line item
`cash outflow from operating activities before dividends paid" under
the heading `continuing operations" has been reduced by R 75 000, and
the cash inflow reported in the line item `net cash inflow of
discontinued operation" has also been reduced by R 75 000. This arises
from a misallocation between continuing and discontinued operations.
There is no effect on the net cash flow for the year.
NOTICE OF THE ANNUAL GENERAL MEETING
Notice is hereby given that the seventy fifth annual general meeting of ELB
shareholders will be held in the Board Room, ELB Equipment Limited, 14 Atlas
Road, Anderbolt, Boksburg on Monday, 21 November 2005 at noon to transact the
business as stated in the annual general meeting notice forming part of the
annual report.
Boksburg
28 October 2005
Sponsor
RAND MERCHANT BANK (A divison of FirstRand Bank Limited)
Date: 28/10/2005 04:00:06 PM Produced by the JSE SENS Department
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