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MRF
MRF
Merafe- Modification to the reviewed audited results and notice Of AGM
Merafe Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/003452/06)
Share code: MRF
ISIN: ZAE000060000
("Merafe" or "the Company")
MODIFICATIONS TO THE REVIEWED RESULTS AT 31 DECEMBER 2005 AND NOTICE OF ANNUAL
GENERAL MEETING
Audited results
With regard to the audited results for the twelve months ended 31 December 2005,
shareholders are advised that the annual financial statements were distributed
to shareholders on Friday, 30 June 2006 and contain the following modifications
to the reviewed results, which were released on SENS on Thursday, 2 March 2006.
The annual financial statements were audited by KPMG Inc. Their unqualified
audit report is available for inspection at the Company"s registered office.
Audited Annual Reviewed
Financial Results
Statements published on
SENS
R"000 R"000
Income Statement
Net financing costs 57,933 29,652
Dividends on preference shares - 28,281
57,933 57,933
Comment: Dividends on redeemable
preference shares reallocated to
financing costs - no effect on net
profit after tax
EBITDA versus Gross profit 103,175 110,162
Depreciation - (6,987)
103,175 103,175
Comment: Depreciation reallocated to
cost of sales - no effect on net profit
after tax
Balance Sheet
Long-term borrowings - preference shares 222,476 322,476
Current portion of long-term borrowings 100,000
322,476 322,476
Comment: A portion of long-term
borrowings reallocated to current
portion of long-term borrowings - no
effect on net asset value
Rehabilitation provision 7,592 -
Provisions 26,003 33,595
33,595 33,595
Comment: Rehabilitation provision
reallocated from provisions and
disclosed separately - no effect on net
asset value
Trade & other payables 585,828 354,699
Current portion of long-term borrowings 48 231,177
585,876 585,876
Comment: Current portion of long-term
borrowings reallocated to trade & other
payables - no effect on net asset value
Notice of the annual general meeting
Notice is hereby given that the 19th annual general meeting of Merafe"s
shareholders will be held at the registered office of the Company, First Floor,
Block B, 68 Wierda Road East; Wierda Valley on Monday, 24 July 2006 at 11:00 to
transact the business as stated in the annual general meeting notice forming
part of the annual financial statements.
Sandton
30 June 2006
Sponsor
Absa Capital - Corporate Finance
A Division of Absa Bank Limited
Date: 30/06/2006 02:00:16 PM Produced by the JSE SENS Department
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