CAE
CAE
Cape Empowerment Trust - Compliance with IFRS and cautionary announcement
CAPE EMPOWERMENT TRUST LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/014606/06)
JSE Code CAE
ISIN ZAE000016952
("Cape Empowerment Trust" and "the company")
COMPLIANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS ("IFRS") AND
CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the unaudited results for the half year ended 30
June 2005 ("the interim results"), which were published on 27 September 2005
which were prepared in terms of South African Statements of Generally Accepted
Accounting Practice and not in terms of IFRS.
While the company believes that the interim results would not have been
different in any material respects had they been prepared strictly in terms of
IFRS the company will publish supplementary interim results in terms of IFRS and
in compliance with the Listings Requirements of the JSE Limited on Friday, 17
February 2006 ("the supplementary interims") and shareholders are advised to
exercise caution when dealing in their Cape Empowerment Trust shares until such
time.
Shareholders are also advised that the financial results of Dynamic Cables RSA
Ltd ("Dynamic Cables") have been consolidated in the interims of Cape
Empowerment Trust in terms of IAS 27 for the first time with effect from 1
January 2005, being the date of acquisition of the subsidiary. Dynamic Cables is
now classified as a subsidiary of Cape Empowerment Trust as the shareholding
percentage, which due to the issue of certain tainted shares, was in dispute has
now been finalised. Until 31 December 2004, the results of Dynamic Cables were
equity accounted. Additional information relating to this consolidation will be
included in the supplementary interims.
Cape Town
9 February 2006
Sponsor
Sasfin Capital
A division of Sasfin Bank Limited
Date: 09/02/2006 12:26:19 PM Produced by the JSE SENS Department
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