1999/07/16
UNAUDITED INTERIM REPORT FOR THE SIX MONTHS ENDED 28 FEBRUARY 1999 [JSE Securities Exchange - SENS]
 
16/07/1999 - 20:35:36

VENMIL LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 98/04519/06)
("VENMIL" OR "THE COMPANY")
UNAUDITED INTERIM REPORT FOR THE SIX MONTHS ENDED 28 FEBRUARY 1999
ABRIDGED INCOME STATEMENT FOR THE SIX MONTHS ENDED 28 FEBRUARY 1999
TOTAL
                         27 MAY 1998 TO    28 FEBRUARY 1999  27 MAY 1998 TO
                         28 FEBRUARY 1999     SIX MONTH      31 AUGUST 1998
                              R'000            R'000            R'000
INTEREST RECEIVED             15 061           9 836            5 225
OPERATING EXPENSES            457              260              188
NET INCOME BEFORE TAXATION    14 604           9 567            5 037
TAXATION                      4 413            2 650            1 763
ATTRIBUTABLE INCOME           10 191           6 917            3 274
HEADLINE EARNINGS PER
SHARE (CENTS)                 5,6              3,8              1,8
ABRIDGED BALANCE SHEET AT 28 FEBRUARY 1999
                                28 FEBRUARY 1999    31 AUGUST 1998
                                       R'000           R'000
SHAREHOLDERS' FUNDS                    109 552         102 780
REPRESENTED BY:
   - INVESTMENT                        1 425           1 425
   - CASH                              112 611         103 121
   - NET LIABILITIES                   (4 484)         (1 766)
                                       109 552         102 780
ISSUED SHARES ('000)                   180 942         180 942
NET ASSET VALUE PER SHARE (CENTS)      60,5            56,8
NOTES
1. THE DIRECTORS OF VENMIL PROPOSED TO DISTRIBUTE THE CASH IN VENMIL, DETAILS
OF WHICH ARE CONTAINED IN A CIRCULAR TO SHAREHOLDERS DATED 7 JUNE 1999.
2. SHAREHOLDERS ARE REMINDED OF THE OFFER MADE BY EAST DAGGAFONTEIN MINES
LIMITED WHICH APPEARED IN THE PRESS ON 11 JUNE 1999, SUBJECT TO THE CONDITIONS
PRECEDENT DESCRIBED THEREIN.
3. THE INVESTMENT REFLECTED ABOVE CONSISTED OF 500 000 SHARES IN TRIDELTA
MAGNET TECHNOLOGY HOLDINGS LIMITED AT 285 CENTS PER SHARE. THESE SHARES HAVE
BEEN DISPOSED OF SUBSEQUENT TO THE PERIOD-END.
4. VENMIL'S FINANCIAL YEAR-END HAS BEEN CHANGED FROM THE END OF FEBRUARY TO THE
END OF AUGUST OF EACH YEAR. THE CURRENT FINANCIAL PERIOD WILL THUS COVER THE
18-MONTH PERIOD ENDING 31 AUGUST 1999.
5. NO COMPARATIVE FIGURES ARE PRESENTED FOR THE PREVIOUS YEAR'S CORRESPONDING
PERIOD AS VENMIL ONLY RECEIVED ITS CASH RESOURCES ON 27 MAY 1998.
6. THE COMPANY WILL BE YEAR 2000 COMPLIANT BY THE END OF JUNE 1999.
BY ORDER OF THE BOARD
HA LOWENTHAL CA(SA)
SECRETARY
JOHANNESBURG
17 JUNE 1999
PRODUCED BY: MARY-JANE KOEN 16-07-1999 16:35 SENS

PUBLISHER : JSE SENS Feed
Source: JSE Securities Exchange - SENS
 
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