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ABO
ABO
ABO - Absolute - Notice Of AGM And Minor Changes To The Consolidated
Balance Sheets, Income Statements And Cash Flow Statements
ABSOLUTE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/004649/06)
Share code: ABO & ISIN: ZAE000062998
("Absolute" or "the company")
NOTICE OF ANNUAL GENERAL MEETING AND MINOR CHANGES TO THE CONSOLIDATED
BALANCE SHEETS, INCOME STATEMENTS AND CASH FLOW STATEMENTS
Notice is hereby given that the Annual General Meeting of the company will
be held in the boardroom, Arcay House, Number 3 Anerley Road, Parktown,
Johannesburg at 10:00 on Tuesday, 30 January 2007, to transact the business
as stated in the Notice of Annual General Meeting included in the Annual
Report posted to shareholders on Thursday, 28 December 2006.
Minor Changes to the Consolidated Balance Sheets, Income Statements and
Cash Flow Statements:
The company published its reviewed provisional results for the year ended
30 June 2006 on 18 October 2006. Subsequent to the publication of the
reviewed provisional results, minor changes, primarily relating to
reallocations, were made to the consolidated balance sheets, income
statements and cash flow statements, which changes are set out below:
GROUP BALANCE SHEETS
Audited Unaudited Audited
30 Jun 31 Dec 30 Jun
ASSETS 2006 2005 2005
R`000 R`000 R`000
Non-current assets 16 693 21 714 22 166
Property, equipment and 1 101 5 305 6 212
vehicle
Mineral rights 9 545 9 901 9 504
Goodwill 6 047 6 047 6 047
Deferred taxation -- 461 403
Current assets 9 821 9 882 9 708
Inventory 6 678 8 204 7 532
Cash and cash equivalents 230 40 18
Trade and other receivables 2 809 1 499 1 959
Short term receivables 104 139 199
Assets held for sale 3 780 -- --
Total assets 30 294 31 596 31 875
EQUITY AND LIABILITIES
Capital and reserves 10 812 12 685 12 953
Non-current liabilities 2 122 5 087 5 622
Interest bearing long-term 2 107 5 087 5 622
liabilities
Deferred taxation 15 -- --
Current liabilities 14 010 13 824 13 300
Trade and other payables 9 434 8 720 8 218
Short-term loans 101 464 339
Provisions -- 471 --
Taxation 5 285 285
Bank overdraft 4 470 3 884 4 458
Liabilities associated with 3 350 -- --
held for sale assets
Total equity and 30 294 31 596 31 875
liabilities
Net asset per share
information 739 708 739 708 739 708
Number of shares in issue
(`000)
Net asset value per share 1.46 1.71 1.74
(cents)
Tangible net asset value (0.64) (0.44) (0.37)
per share (cents)
Fully diluted number of 739 708 739 708 739 708
shares (`000)
Diluted net asset value per 1.46 1.71 1.74
share (cents)
Diluted tangible net asset (0.64) (0.44) (0.37)
value per share (cents)
GROUP INCOME STATEMENTS
Audited Unaudited Audited
Year Six months Year
ended ended ended
30 Jun 31 Dec 30 Jun 2005
2006 2005 R`000
R`000 R`000
Revenue 28 126 15 823 32 345
Cost of sales and (28 657) (15 526) (33 511)
operating expenses
Net operating (531) 297 (1 166)
(loss)/profit
Provision for guarantee -- -- 3 853
reversal
Fair value adjustment of (320) -- (455)
investment property
Recovery of losses on 39 -- --
disposal of subsidiaries
(Loss)/profit from (812) 302 2 232
operations
Finance charges (919) (479) (1 042)
Interest income 8 -- --
(Loss)/profit before (1 723) (177) 1 190
taxation
Taxation (418) 15 335
Net (loss)/profit for the (2 141) (162) 1 525
year
Reconciliation of headline
earnings/(loss)
Net (loss)/profit for the (2 141) (162) 1 525
period
Recovery of losses on (39) -- --
disposal of subsidiary
Decrease in value of 320 -- 455
investment property
Reversal of provision for -- -- (3 853)
guarantee
Loss on disposal of fixed 14 (5) 12
assets
Headline loss (1 846) (167) (1 861)
Earnings per share
information
Weighted average shares in 739 708 739 708 677 608
issue (`000)
(Loss)/earnings per share (0.29) (0.02) 0.23
for period (cents)
Headline loss per share (0.25) (0.02) (0.27)
for period (cents)
Fully diluted weighted 739 708 739 708 677 608
average shares in issue
(`000)
Diluted (loss)/earnings (0.29) (0.02) 0.23
per share for period
(cents)
Diluted headline loss per (0.25) (0.02) (0.27)
share for period (cents)
ABRIDGED CASH FLOW STATEMENTS
Audited Unaudited Audited
30 Jun 2006 31 Dec 2005 30 Jun 2005
R`000 R`000 R`000
Net cash 14 489 (1 201)
inflow/(outflow) from
operating activities
Net cash 587 457 (786)
inflow/(outflow) from
investing activities
Net cash (401) (350) 1 226
(outflow)/inflow from
financing activities
Net increase/(decrease) 200 596 (761)
in cash and cash
equivalents
Cash and cash (4 440) (4 440) (3 679)
equivalents - beginning
of period
Cash and cash (4 240) (3 844) (4 440)
equivalents at end of
period
By order of the board
M Diale AM Sher
04 January 2007
Company Secretary and Registered Office
Arcay Client Support (Pty) Ltd (Registration number 1998/025284/07)
Arcay House, Number 3 Anerley Road, Parktown, Johannesburg (PO Box
62397, Marshalltown, 2107)
Directors
MK Diale* Chairman, AM Sher* Deputy Chairman, JJ Serfontein*, GP
Sequeira
(* Non-executive)
Sponsor Transfer Office
Arcay Moela Sponsors Computershare Investor Services 2004 (Pty)
(Pty) Ltd Ltd
Date: 04/01/2007 12:27:19 Produced by the JSE SENS Department.
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