/ANNUAL REPORT MARCH 2010
| Share Capital R'000 | Share Premium R'000 | Non- distributable reserve R'000 | Accumulated loss R'000 | Total R'000 | |
|---|---|---|---|---|---|
| GROUP | |||||
| Balance at 31 March 2008 | 129 | 1 211 156 | 988 146 | ( 89 218) | 2 110 213 |
| Restatement of prior period due to change in accounting policy | - | - | ( 3 837) | 3 837 | - |
| Restated balance at 31 March 2008 | 129 | 1 211 156 | 984 309 | ( 85 381) | 2 110 213 |
| Total comprehensive income/ (expense) for the year | |||||
| Loss for the year | ( 59 907) | ( 59 907) | |||
| Other comprehensive expense for the year | |||||
| Net change in fair value of listed investments | - | - | ( 34 994) | - | ( 34 994) |
| Net change in fair value of cash flow hedge recognised directly in other comprehensive income (restated) | - | - | ( 94 834) | - | ( 94 834) |
| Total comprehensive expense for the year | - | - | ( 129 828) | ( 59 907) | (189 735) |
| Transactions with owners, recorded directly in equity | |||||
| Issue of 8 000 000 shares in May 2008 | 8 | 108 632 | - | - | 108 640 |
| Proceeds | 8 | 108 712 | - | - | 108 720 |
| Share issue costs | - | ( 80) | - | - | ( 80) |
| Issue of 1 200 000 shares in November 2008 | 1 | 14 693 | - | - | 14 694 |
| Proceeds | 1 | 14 729 | - | - | 14 730 |
| Share issue costs | - | ( 36) | - | - | ( 36) |
| Transfer from non-distributable reserve | - | - | ( 61 385) | 61 385 | - |
| Total transactions with owners | 9 | 123 325 | ( 61 385) | 61 385 | 123 334 |
| BALANCE AT 31 MARCH 2009 | 138 | 1 334 481 | 793 096 | ( 83 903) | 2 043 812 |
| Share Capital R'000 | Share Premium R'000 | Non- distributable reserve R'000 | Accumulated loss R'000 | Total R'000 | |
|---|---|---|---|---|---|
| GROUP | |||||
| Total comprehensive income/ (expense) for the year | |||||
| Profit for the year | - | - | - | 105 161 | 105 161 |
| Other comprehensive income/ (expense) for the year | |||||
| Net change in fair value of listed investments | - | - | 149 824 | - | 149 824 |
| Net change in fair value of cash flow hedge recognised directly in other comprehensive income | - | - | ( 10 558) | - | ( 10 558) |
| Total comprehensive expense for the year | - | - | 139 266 | 105 161 | 244 427 |
| Transactions with owners, recorded directly in equity | |||||
| Issue of 525 000 shares in September 2009 | 1 | 8 695 | - | - | 8 696 |
| Proceeds | 1 | 8 724 | - | - | 8 725 |
| Share issue costs | - | ( 29) | - | - | ( 29) |
| Issue of 9 698 649 shares in October 2009 | 10 | 169 065 | - | - | 169 075 |
| Proceeds | 10 | 170 105 | - | - | 170 115 |
| Share issue costs | - | ( 1 040) | - | - | ( 1 040) |
| Issue of 1 280 000 shares in November 2009 | 1 | 23 542 | - | - | 23 543 |
| Proceeds | 1 | 23 582 | - | - | 23 583 |
| Share issue costs | - | ( 40) | - | - | ( 40) |
| Transfer from non-distributable reserve | - | - | 223 569 | ( 223 569) | - |
| Total transactions with owners | 12 | 201 302 | 223 569 | ( 223 569) | 201 314 |
| BALANCE AT 31 MARCH 2010 | 150 | 1 535 783 | 1 155 931 | ( 202 311) | 2 489 553 |
| Share Capital R'000 | Share Premium R'000 | Non- distributable reserve R'000 | Accumulated loss R'000 | Total R'000 | |
|---|---|---|---|---|---|
| COMPANY | |||||
| Balance at 31 March 2008 | 129 | 1 211 156 | ( 13 874) | ( 68 523) | 1 128 888 |
| Total comprehensive income/ (expense) for the year | |||||
| Loss for the year | - | - | - | ( 47 792) | ( 47 792) |
| Other comprehensive expense for the year | |||||
| Net change in fair value of listed investments | - | - | ( 34 994) | - | ( 34 994) |
| Net change in fair value of cash flow hedge recognised directly in other comprehensive income (restated) | - | - | ( 59 227) | - | ( 59 227) |
| Total comprehensive expense for the year | - | - | ( 94 221) | ( 47 792) | ( 142 013) |
| Transactions with owners, recorded directly in equity | |||||
| Issue of 8 000 000 shares in May 2008 | 8 | 108 632 | - | - | 108 640 |
| Proceeds | 8 | 108 712 | - | - | 108 720 |
| Share issue costs | - | ( 80) | - | - | ( 80) |
| Issue of 1 200 000 shares in November 2008 | 1 | 14 693 | - | - | 14 694 |
| Proceeds | 1 | 14 729 | - | - | 14 730 |
| Share issue costs | - | ( 36) | - | - | ( 36) |
| Transfer from non-distributable reserve | - | - | ( 20 067) | 20 067 | - |
| Total transactions with owners | 9 | 123 325 | ( 20 067) | 20 067 | 123 334 |
| BALANCE AT 31 MARCH 2009 | 138 | 1 334 481 | ( 128 162) | ( 96 248) | 1 110 209 |
| Share Capital R'000 | Share Premium R'000 | Non- distributable reserve R'000 | Accumulated loss R'000 | Total R'000 | |
|---|---|---|---|---|---|
| COMPANY | |||||
| Total comprehensive income/ (expense) for the year | |||||
| Loss for the year | - | - | - | ( 73 612) | ( 73 612) |
| Other comprehensive income/ (expense) for the year | |||||
| Net change in fair value of listed investments | - | - | 149 824 | - | 149 824 |
| Net change in fair value of cash flow hedge recognised directly in other comprehensive income | - | - | ( 4 581) | - | ( 4 581) |
| Total comprehensive income/ (expense) for the year | - | - | 145 243 | ( 73 612) | 71 631 |
| Transactions with owners, recorded directly in equity | |||||
| Issue of 525 000 shares in September 2009 | 1 | 8 695 | - | - | 8 696 |
| Proceeds | 1 | 8 724 | - | - | 8 725 |
| Share issue costs | - | ( 29) | - | - | ( 29) |
| Issue of 9 698 649 shares in October 2009 | 10 | 169 065 | - | - | 169 075 |
| Proceeds | 10 | 170 105 | - | - | 170 115 |
| Share issue costs | - | ( 1 040) | - | - | ( 1 040) |
| Issue of 1 280 000 shares in November 2009 | 1 | 23 542 | - | - | 23 543 |
| Proceeds | 1 | 23 582 | - | - | 23 583 |
| Share issue costs | - | ( 40) | - | - | ( 40) |
| Transfer from non-distributable reserve | - | - | 5 701 | ( 5 701) | - |
| Total transactions with owners | 12 | 201 302 | 5 701 | ( 5 701) | 201 314 |
| BALANCE AT 31 MARCH 2010 | 150 | 1 535 783 | 22 782 | ( 175 561) | 1 383 154 |
