Cadiz Holdings Limited - Impact of IFRS on histric
CDZ
CDZ
Cadiz Holdings Limited - Impact of IFRS on histrical finacial
information contained in circular
Cadiz Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/007258/06
ISIN: ZAE000017661
JSE Share code: CDZ
("Cadiz" or "the company")
Impact of IFRS on histrical finacial information contained in circular
On 16 October 2006 Cadiz posted a circular to shareholders relating to the
acquisition by Cadiz, or its nominee, of 100% of African Harvest Fund
Managers (Pty) Ltd ("AHFM") and African Harvest Collective Investments
Limited ("AHCI") and incorporating a notice convening a General Meeting of
Cadiz together with a form of proxy for use by certificated and "own-name"
dematerialised Cadiz shareholders.
This circular contained historical financial information for both AHFM and
AHCI for the six months to and as at 31 March 2006, as required by
paragraph 8.7 of the JSE Limited ("JSE") Listings Requirements. Due to the
time constraints, and with the consent of the Issuer Services divisions of
the JSE, this historical financial information was prepared in accordance
with the South African Statements of Generally Accepted Accounting Practice
instead of International Financial Reporting Standards ("IFRS").
The directors have quantified the impact that the implementation of IFRS
would have had on the historical information, and confirm that there is no
impact on the historical Assets, Liabilities, Equity or Profit of the
period as presented for AHFM and AHCI for and as at 31 March 2006 in the
above circular.
Consequently, the directors confirm that there is no impact on the pro
forma information of Cadiz as disclosed in the circular.
Copies of the independent reporting accountant"s review opinion on the
impact of IFRS on the historical information for the 6 months to and as at
31 March 2006 of AHFM and AHCI as set out in the circular dated 16 October
2006 will be available for inspection by shareholders from the date of this
announcement for a period of 7 days, during normal business hours on
business days at the registered office of Cadiz in Cape Town and at the
business address in Johannesburg, being 31 West Street, Lower Houghton.
Cape Town
24 October 2006
Sponsor: Investec Bank Limited
Date: 24/10/2006 03:16:46 PM Produced by the JSE SENS Department
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