Enhanced Investments - Financial Portal

Publication of audited AFS for 30 June 2023, integrated report, notice of AGM and availability of BBBEE report

Published: 2023-11-03 18:40:26 ET

REX TRUEFORM GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1937/009839/06)
JSE share code: RTO ISIN: ZAE000250387
JSE share code: RTN ISIN: ZAE000250395
JSE share code: RTOP ISIN: ZAE000250403
 (“Rex Trueform” or the “Company”)



PUBLICATION OF THE AUDITED CONSOLIDATED ANNUAL FINANCIAL STATEMENTS FOR THE
YEAR ENDED 30 JUNE 2023, ANNUAL INTEGRATED REPORT AND NOTICE OF ANNUAL GENERAL
MEETING AND AVAILABILITY OF THE BROAD-BASED BLACK ECONOMIC EMPOWERMENT
ANNUAL COMPLIANCE REPORT


Shareholders are advised that the audited annual financial statements for the year ended 30 June 2023, on which the
auditors expressed an unmodified audit opinion, (“AFS”) have been published and are available on the JSE’s website at
https://senspdf.jse.co.za/documents/2023/jse/isse/RTO/AFS2023.pdf and on Rex Trueform’s website at
https://rextrueform.com/wp-content/uploads/2023/11/REX-TRUEFORM-2023-AFS.pdf. The AFS contain changes to
the reviewed condensed consolidated financial statements for the year ended 30 June 2023 which were released on
SENS on 11 October 2023, as detailed below. The full auditor’s report, together with the accompanying AFS, is also
available for inspection at the registered office of Rex Trueform.

Shareholders are further advised that the integrated annual report, incorporating summarised consolidated financial
results for the financial year ended 30 June 2023 and the notice of annual general meeting (“AGM”) are available on
the Company’s website at https://rextrueform.com/wp-content/uploads/2023/11/REX-TRUEFORM-2023-IAR.pdf. It is
anticipated that the integrated annual report and notice of AGM will be posted on or about 7 November 2023 and a
further announcement will be released on the dispatch to shareholders of the integrated annual report and the notice of
AGM.

The Company’s report on corporate governance and the application of King IV principles have been published and are
available on the Company’s website at https://rextrueform.com/wp-content/uploads/2023/11/REX-TRUEFORM-2023-
KING-IV-APPLICATION-REGISTER.pdf.

The AGM will be held on Monday, 11 December 2023 at 10:00 am by way of electronic participation. The last day to
trade in order to participate in and vote at the AGM is Tuesday, 28 November 2023 and the record date for voting
purposes is Friday, 1 December 2023. Full details for purposes of electronic participation are set out in the notice of
AGM.

Shareholders are further notified that, in accordance with the JSE Listings Requirements, Rex Trueform’s annual
compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act 53 of 2003 (as
amended) has been published and is available on the website at https://rextrueform.com/wp-
content/uploads/2023/11/REX-TRUEFORM-2023-BBEEE-COMPLIANCE-REPORT.pdf.

Modifications to the reviewed condensed consolidated financial statements for the year ended 30 June 2023
(“Modifications”)

The Modifications highlight the change between the audited annual financial statements and the reviewed condensed
consolidated financial statements published on 11 October 2023. The change relates to the 2023 figures on the Statement
of Profit or Loss and Other Comprehensive Income and the 2022 and 2023 figures on the Statement of Financial Position
and the Statement of Changes in Equity.

These changes had no impact on earnings per share, headline earnings per share, net asset value, profit after tax or total
comprehensive income for the year, or the Statement of Cash Flows. The only impact is between line items on the
Statement of Financial Position, Statement of Profit or Loss and Other Comprehensive Income and the Statement of
Changes in Equity.
The changes resulted in the following statements being modified and the impact on the change in the financial results is
detailed below:

                                                                   Audited           Condensed             Difference
                                                                   Annual             Reviewed
                                                                 Financial            Financial
                                                                Statements           Statements
                                                                    Group                Group                 Group
                                                                      2023                 2023                 2023
                                                                     R'000                R'000                R'000
 Statement of Financial Position
 Non - Current Assets - Loans receivable ^                            6,473                6,561                  (88)
 Current Assets - Loans receivable ^                                     88                    -                    88

 Statement of Profit or Loss and Other
 Comprehensive Income
 Net foreign exchange gain *                                          8,385                    -                8,385
 Fair value gains on contingent consideration *                       4,628                    -                4,628
 Other operating costs *                                            407,508              394,494               13,014

 Statement of Changes in Equity

 Share Capital #                                                          -               20,192              (20,192)
 Ordinary Share Capital #                                            19,912                    -                19,912
 Preference Share Capital #                                             550                    -                   550

 Share-based payment and other reserves #                                 -                4,687               (4,687)
 Other Reserves >                                                     (567)                    -                 (567)
 Share-based payment reserves >                                       5,254                    -                 5,254

                                                                   Audited           Condensed             Difference
                                                                   Annual             Reviewed
                                                                 Financial            Financial
                                                                Statements           Statements
                                                                    Group                Group                 Group
                                                                      2022                 2022                 2022
                                                                     R'000                R'000                R'000
 Statement of Financial Position

 Non - Current Assets - Loans receivable                             25,264               25,264                     -

 Statement of Profit or Loss and Other
 Comprehensive Income
 Other operating costs *                                            307,794              307,797                   (3)

 Statement of Changes in Equity

 Share Capital #                                                           -              20,192              (20,192)
 Ordinary Share Capital #                                            19,912                     -               19,912
 Preference Share Capital #                                              550                    -                  550
 Share-based payment and other reserves #                                  -              (3,798)                3,798
 Other Reserves >                                                    (9,052)                    -              (9,052)
 Share-based payment reserves >                                        5,254                    -                5,254

^ This relates to a reclassification of a loan receivable from non-current to current based on the terms of the loan as
disclosed in the annual financial statements.
* Net foreign exchange gain and fair value gains on contingent consideration are noted separately in the audited annual
financial statements, however these items were consolidated as part of other operating costs in the reviewed condensed
consolidated Statement of Profit or Loss and Other Comprehensive Income.

# Ordinary share capital and preference share capital are noted separately in the audited financial statements. However
these items were consolidated as part of share capital in the reviewed condensed consolidated Statement of Financial
Position and the Statement of Changes in Equity.

> Other reserves and share-based payment reserves are noted separately in the audited financial statements, however
these items were consolidated as part of other reserves and share-based payment reserves in the reviewed condensed
consolidated Statement of Changes in Equity.

3 November 2023


Sponsor

Java Capital

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.