|
Gold Edge Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/021085/06)
Share code: GLE
ISIN: ZAE000016515
("Gold Edge" or "the company")
Audited Preliminary Results for the year ended 30 June 2001
CASH FLOW STATEMENT
for the year ended 30 June
2001 2000
GROUP GROUP
R R
CASH FLOW FROM
OPERATING ACTIVITIES (7 589 524) 125 254
Net cash flow from operating activities (4 356 796) 6 210 387
Investment income 430 405 79 383
Interest paid (3 596 366) (6 164 516)
Taxation paid (66 767) -
CASH FLOW FROM INVESTING
ACTIVITIES 17 662 785 2 018
Additions to fixed assets (205 463) (2 700)
Proceeds on sale of shares 6 037 457 -
Proceeds from disposal of investment
property 11 349 800 -
Proceeds from disposal of fixed assets 7 800 4 718
Acquisition of minority shareholder
interest in subsidiaries 473 191 -
CASH INFLOW/(OUTFLOW) FROM
FINANCING ACTIVITIES (5 903 025) 168 382
Proceeds from share issue 26 -
Raising of long-term liabilities - 208 411
Repayment of long-term liabilities (5 903 051) (40 029)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 4 170 236 295 654
CASH AND CASH EQUIVALENTS
AT BEGINNING OF YEAR (465 118) (760 772)
CASH AND CASH EQUIVALENTS
AT END OF YEAR 3 705 118 (465 118)
STATEMENT OF CHANGES IN EQUITY
at 30 June 2001
GROUP
R
SHARE CAPITAL AT 30 JUNE 2001 2 901
Balance at 1 July 1999 2 875
Movement -
Balance at 1 July 2000 2 875
Movement 26
SHARE PREMIUM AT 30 JUNE 2001 2 611 663
Balance at 1 July 1999 3 059 123
Share issue expenses (447 460)
Balance at 1 July 2000 2 611 663
Share issue expenses -
DISTRIBUTABLE RESERVES AT 30 JUNE 2001 2 429 442
Balance at 1 July 1999 (323 226)
Attributable profit 93 490
Balance at 1 July 2000 (229 736)
Attributable profit 2 567 635
Minority shareholders interest acquired 91 543
BALANCE SHEET
at 30 June
2001 2000
GROUP GROUP
R R
ASSETS
NON-CURRENT ASSETS 49 464 878 64 615 849
Investment properties 45 776 931 60 900 000
Positive goodwill 3 508 192 3 692 834
Fixed assets 179 755 23 015
CURRENT ASSETS 5 809 866 278 251
Accounts receivable 1 432 035 222 400
Cash and cash equivalents 4 377 831 55 851
TOTAL ASSETS 55 274 744 64 894 100
EQUITY AND LIABILITIES
CAPITAL AND RESERVES 5 044 007 9 279 882
Share capital 2 901 2 875
Share premium 2 611 663 2 611 663
Distributable reserve 2 429 443 (229 736)
Non-distributable reserve - 5 716 000
Minority shareholders' interest - 1 179 080
NON-CURRENT LIABILITIES 46 634 691 52 537 742
Long-term liabilities 46 634 691 52 537 742
CURRENT LIABILITIES 3 596 046 3 076 476
Taxation 101 872 -
Accounts payable 1 732 347 2 299 095
Provisions 1 045 549 -
Short-term portion of
long-term liability 43 565 256 412
Bank overdraft 672 713 520 969
TOTAL EQUITY AND LIABILITIES 55 274 744 64 894 100
INCOME STATEMENT
for the year ended 30 June
2001 2000
GROUP GROUP
R R
GROSS REVENUE 18 677 767 9 427 172
Operating costs 12 683 989 3 248 549
OPERATING PROFIT 5 993 777 6 178 623
Investment income 430 405 79 383
Finance costs 3 596 366 6 164 516
Taxation 168 639 -
PROFIT Before outside
shareholders interest 2 659 178 93 490
Minority Interest 91 543 -
Profit 2 567 635 93 490
Earnings per share (cents) 9,16 0,33
Headline earnings/(loss)
per share (cents) (23,40) -
Earnings per share is based on earnings of R2 659 178 (June 2000: R93 490)
and a weighted average number of ordinary shares of 29 013 250 (June 2000:
28 750 000) in issue during the period.
Headline loss per share is based on loss of R6 788 637 and a weighted
average number of ordinary shares of 29 013 250 in issue during the period.
REPORT OF THE CHIEF EXECUTIVE OFFICER TO THE SHAREHOLDERS
The results for the year ended 30 June 2001 include the sale of the four
Bruma buildings and the Illovo and Dunkeld properties.
These results also include the income of Bond Street Centre.
The difference between earnings per share and headline loss per share is due
to a goodwill amortisation amounting to R184 642 and a surplus on disposal
of properties amounting to R9 632 457.
The directors are actively considering and planning the strategic growth and
position of the company into the future. A number of initiatives in this
regard are under review at this time.
Dividend
No dividend is declared.
Cautionary announcement
Shareholders of Gold Edge are advised that the company is involved in
negotiations which, if successfully concluded, could have a material effect
on the price at which Gold Edge shares trade on the JSE Securities Exchange
South Africa.
Gold Edge shareholders are accordingly advised to exercise caution when
dealing in their shares until a further announcement is made.
Johannesburg
17 October 2001
Directors: Registered office:
Selwyn Smith (C.E.0) 1st Floor, Twin Towers East,
Chris Christodoulou Sandton City, Sandton,
Colin Blacher (Non-executive) Tel: (011) 884 4422
Mark Mitchley (Non-executive) Fax: (011) 884 4458
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
