f625ebf0-edb2-4110-852a-571723d5fe30.pdf

VUNANI LIMITED Reviewed Provisional Condensed Consolidated Results for the 14 month period ended 29 February 2016 1

REVIEWED PROVISIONAL CONDENSED CONSOLIDATED RESULTS

For the 14 month PerIoD enDeD 29 February

2016

LIMITE D

VUNANI LIMITED ("Vunani" or "the company" or "the group") Incorporated in the Republic of South Africa

Registration number: 1997/020641/06

JSE code: VUN ISIN: ZAE000163382 Listed on AltX on the JSE Limited ("JSE") These results are available on our website www.vunanilimited.co.za

The Reviewed Provisional Condensed Consolidated Results have been prepared under the supervision of the Chief Financial Officer, Aphrodite Judin CA(SA).

2 VUNANI LIMITED Reviewed Provisiona

Condensed consolidated statement of comprehensive income

for the 14 month period ended 29 February 2016

Figures in R'000 Note

14 months Reviewed 29 February

2016

12 months Audited

31 December

2014

Re-presented*

Continuing operations

154 190

115 016

Revenue 1

Other income

12 546

5 475

Investment revenue

8 263

14 220

Interest received from investments

2 047

2 384

Fair value adjustments and impairments 2

(18 934)

(17 922)

Equity accounted earnings (net of income tax) *

31 797

(86)

Operating expenses

(183 291)

(146 040)

Results from operating activities

6 618

(26 953)

Finance income

4 505

6 060

Finance costs

(2 697)

(2 960)

Net finance income

1 808

3 100

Profit/(loss) before income tax

8 426

(23 853)

Income tax expense

(116)

(1 462)

Profit/(loss) from continuing operations

8 310

(25 315)

Discontinued operations

(Loss)/profit from discontinued operations

(net of income tax) 3

(141)

92 300

Profit for the period

8 169

66 985

Other comprehensive income

Items that are or may be reclassified to profit

or loss

Exchange differences on translating foreign operations

142

243

Total comprehensive income for the period

8 311

67 228

Profit/(loss) from continuing operations

6 860

(23 069)

attributable to:

Equity holders of Vunani Limited

Non-controlling interest

1 450

(2 246)

8 310

(25 315)

Profit for the period attributable to:

6 750

56 039

Equity holders of Vunani Limited

Non-controlling interest

1 419

10 946

8 169

66 985

Total comprehensive income for the period

6 417

56 036

attributable to:

Equity holders of Vunani Limited

Non-controlling interest

1 894

11 192

8 311

67 228

Basic and diluted earnings per share (cents)

Basic and diluted earnings/(loss) per share from continuing operations (cents)

Basic and diluted (loss)/earnings per share from discontinued operations (cents)

Basic and diluted headline earnings/(loss) per

share (cents) 4

Basic and diluted headline earnings/(loss) per share from continuing operations (cents)

Basic and diluted headline loss per share from discontinued operations (cents)

6.2

54.6

6.3

(22.5)

(0.1)

77.1

5.8

(27.5)

5.9

(24.7)

(0.1)

(2.8)

SALIENT FEATURES

REVENUE OF

R154.2 million compared to R115.0 million at 31 December 2014

PROFIT FOR THE PERIOD FROM CONTINUING OPERATIONS OF

R8.3 million compared to a loss of R25.3 million at 31 December 2014

BASIC EARNINGS PER SHARE FROM CONTINUING OPERATIONS OF

6.3c compared to a loss per share of 22.5c at 31 December 2014

ACQUIRED SIGNIFICANT STAKE IN

Fairheads International Holdings (SA) in May 2015

* In the current period, the equity accounted earnings (net of income tax) were presented as part of operating activities. The prior year comparatives have been re-presented to reflect this change in presentation.

l Condensed Consolidated Results for the 14 month period ended 29 February 2016

Condensed consolidated statement of financial position

at 29 February 2016

Figures in R'000

Note

14 months Reviewed 29 February

2016

12 months Audited

31 December

2014

Assets

8 655

6 787

Property, plant and equipment

Goodwill

34 123

34 123

Intangible assets

184

1 042

Investments in and loans to associates

76 909

17 686

Other investments

5

34 318

102 270

Deferred tax asset

46 203

44 890

Other non-current assets

22 504

22 005

Total non-current assets

222 896

228 803

Other investments

5

3 769

8 900

Other current assets

1 598

2 823

Taxation prepaid

1 267

886

Non-current assets held for sale

6

42 504

-

Trade and other receivables

25 186

39 085

Accounts receivable from trading activities

648 817

120 573

Trading securities

131

251

Cash and cash equivalents

17 562

67 773

Total current assets

740 834

240 291

Total assets

963 730

469 094

Equity

624 888

624 888

Stated capital

7

Treasury shares

(15 571)

(15 571)

Share-based payments reserve

12 871

13 249

Foreign currency translation reserve

(1 233)

(900)

Accumulated loss

(365 474)

(364 004)

Equity attributable to equity holders of Vunani Limited

255 481

257 662

Non-controlling interest

1 670

(2 818)

Total equity

257 151

254 844

Liabilities

10 150

20 298

Other financial liabilities

5

Deferred tax liabilities

2 152

7 825

Total non-current liabilities

12 302

28 123

Other financial liabilities

5

10 982

25 282

Taxation payable

4 498

9 648

Trade and other payables

30 458

29 555

Accounts payable from trading activities

647 872

120 525

Bank overdraft

467

1 117

Current liabilities

694 277

186 127

Total liabilities

706 579

214 250

Total equity and liabilities

963 730

469 094

Shares in issue (000s)

7

114 665

114 665

Net asset value per share (cents)

222.8

224.7

Net tangible asset value per share (cents)

192.9

194.0

Net asset value per share (cents)

Net asset value per share is the equity attributable to equity holders of Vunani Limited, utilising all shares in issue, including treasury shares.

Net tangible asset value per share (cents)

Net tangible asset value per share is the equity attributable to equity holders of Vunani Limited, (excluding goodwill and intangible assets) utilising all shares in issue, including treasury shares.

VUNANI LIMITED Reviewed Provisional Condensed Consolidated Results for the 14 month period ended 29 February 2016 3

Condensed consolidated statement of changes in equity

Figures in Rand 000's

Stated capital

Treasury shares

Share based payment reserve

Foreign currency translation reserve

Accumulated

loss

Total attribu- table

to equity holders

Non-

controlling Total

interest equity

for the 14 month period ended 29 February 2016

Balance at 31 December 2013 - Audited

610 088

(15 265)

10 256

(897)

(389 709)

214 473

(6 226)

208 247

Total comprehensive income for the year

Profit for the year

-

-

-

-

56 039

56 039

10 946

66 985

Other comprehensive income for the year

-

-

-

(3)

-

(3)

246

243

Total comprehensive income for the year

-

-

-

(3)

56 039

56 036

11 192

67 228

Transactions with owners, recorded directly in equity

Shares issued

14 800

-

-

-

-

14 800

-

14 800

Share based payments

-

2 993

-

-

2 993

-

2 993

Treasury shares acquired

-

(306)

-

-

-

(306)

-

(306)

Dividends paid

-

-

-

(30 016)

(30 016)

(11 677)

(41 693)

Disposal to non-controlling interest

-

-

-

-

(318)

(318)

318

-

Acquisition of non-controlling interests

-

-

-

-

-

-

3 575

3 575

Total transactions with owners

14 800

(306)

2 993

-

(30 334)

(12 847)

(7 784)

(20 631)

Balance at 31 December 2014 - Audited

624 888

(15 571)

13 249

(900)

(364 004)

257 662

(2 818)

254 844

Total comprehensive income for

-

-

-

-

6 750

6 750

1 419

8 169

the period

Profit for the period

Other comprehensive income for the period

-

-

-

(333)

-

(333)

475

142

Total comprehensive income for the period

-

-

-

(333)

6 750

6 417

1 894

8 311

Transactions with owners,

-

-

1 628

-

-

1 628

-

1 628

recorded directly in equity

Share based payments

Transfer between reserves

-

-

(2 006)

-

2 006

-

-

Dividends paid

-

-

-

-

(6 014)

(6 014)

(1 618)

(7 632)

Acquisition of non-controlling interests

-

-

-

-

(4 212)

(4 212)

4 212

-

Total transactions with owners, recorded directly in equity

-

-

(378)

-

(8 220)

(8 598)

2 594

(6 004)

Balance at 29 February 2016 - Reviewed

624 888

(15 571)

12 871

(1 233)

(365 474)

255 481

1 670

257 151

DIVIDENDS

Figures in R'000

Reviewed Audited 29 February 31 December

2016 2014

Ordinary dividend paid

Ordinary dividend number 2 of 5.5 cents per share (2014: ordinary dividend number 1 of 5.0 cents per share) declared on 30 March 2015 and paid to ordinary shareholders on 28 April 2015 (net of treasury shares held)

Special dividend paid

Special dividend number 1 of 25.0 cents per share (net of treasury shares held)

6 014

-

5 003

25 013

6 014

30 016

4 VUNANI LIMITED Reviewed Provisional Condensed Consolidated Results for the 14 month period ended 29 February 2016

Vunani Ltd. published this content on 24 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 May 2016 12:50:02 UTC.

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