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22
JOHN DANIEL HOLDINGS LIMITED AND ITS SUBSIDIARIES
INTEGRATED ANNUAL REPORT 2011
JDH Audited
30 September 2011
JDH Rights Offer shares
issued after reporting
date (A)
Pro-forma financial
effects after “A”
Statement of comprehensive income
R’000
R’000
R’000
Revenue
6 464
-
6 464
Cost of sales
(2 484)
-
(2 484)
Gross profit
3 980
-
3 980
Other income
2 260
-
2 260
Operating expenses
(12 396)
821
(11 575)
Operating loss
(6 156)
821
(5 335)
Net Finance charges
(1 000)
1 237
238
Net profit/(loss) before taxation
(7 156)
2 059
(5 097)
Taxation (notional at 28%)
7 435
(576)
6 859
Net profit/(loss) for the period
279
1 482
1 762
Non-controlling interest
426
-
426
Net profit/(loss) attributable to ordinary
shareholders
705
1 482
2 188
JDH 30 September
audited
(cents per share)
Pro-forma financial
effects after the Rights
Offer (cents per share)
Percentage change
Profit per share
0.45
0.59
31%
Headline earnings per share
0.14
0.46
229%
Fully diluted earnings per share
0.14
0.46
229%
Net asset value per share
1.73
4.59
165%
Tangible net asset value per share
0.75
4.17
456%
Notes and assumptions:
1. The “Before” column is extracted from the Company’s audited, results for the 15 months ended 30 September 2011.
2. The pro forma information reflects the net proceeds of the Rights Offer that was fully subscribed, resulting in 214 285 714 new
shares being issued at 7 (seven) cents a share, generating Rights Offer Proceeds totalling R15 million. The increase in issued
capital and equity will have a continuing effect on the calculation of the earnings per share. The increased capital raised will
have a once off effect on the statement of financial position.
3. The proceeds of the Rights Offer was utilised to fund working capital requirements and settle current creditors.
4. The “After” column assumes that the R15 million Rights Offer proceeds were received at the beginning of the period for state-
ment of comprehensive income purposes and that the interest and loan transaction fees savings were realised over the
15 month period. The interest saving will have a continuing effect whilst the loan transaction fees will have a once off effect.
5. The“After” column for statement of financial position purposes assumes the Rights Offer Proceeds of R15 million were received
in cash as at 30 September 2011, net of costs, and were assumed to be applied to settling the outstanding creditors. The rights
offer proceeds will have a once off effect on the statement of financial position. The settlement of interest bearing liabilities
with the proceeds of the rights offer will have a continuing effect on the statement of comprehensive income.
6. Transaction costs in relation to the Circular of R654 000 have been included. These costs will have a once off effect on JDH.
7. Notional taxation of 28% has been included, where applicable.
Events after the reporting date -
Continued