Visual International Holdings Limited (JSE:VIS) News - Audited Condensed Consolidated Results for the year ended 28 February 2022

VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
ISIN Code: ZAE000187407       Share code: VIS
Visual” or “the Company” or “the Group”)


SHORT-FORM ANNOUNCEMENT

AUDITED CONDENSED CONSOLIDATED RESULTS FOR YEAR ENDED 28 FEBRUARY 2022


Salient Features
Extracted from the audited condensed consolidated results for the year month ended
28 February 2022:

                                  28 February      28 February
                                         2022             2021     Percentage     Decline or
                                      Audited          Audited         Change    Improvement
 Revenue                               23 173           23 173             0%              -
 Operating loss                   (7 934 693)      (7 012 431)         13.15%    Improvement
 Headline loss per share               (1.66)           (2.05)         19.02%    Improvement
 Loss per share                        (1.51)           (2.05)         26.34%    Improvement
 Dividend per share                         -                -              -              -

Short-Form Announcement
The short-form announcement is the responsibility of the Board of Directors of Visual and is only
an extract of the information contained in the audited condensed consolidated results for the
year ended 28 February 2022.

The short-form announcement is the responsibility of the Directors and is only a summary of
information set out in the full announcement which is available on the Company’s website
(www.visualinternational.co.za). This announcement does not contain full or complete details
and any investment decisions by investors and/or shareholders should be based on
consideration of the published SENS announcement available on:

https://senspdf.jse.co.za/documents/2022/JSE/ISSE/VIS/VISAR22.pdf

The unqualified audit opinion, which includes communication on key audit matters, together
with the annual financial statements, can be accessed by the following link:

https://visualinternational.co.za/investorrelations/SENS

The audit report contained a paragraph on material uncertainty related to going concern as
detailed below:

“We draw attention to the fact that at 28 February 2022, the group had accumulated losses
of R91 709 060 (2021: R86 072 506) and the company accumulated loss of R94 067 773 (2021:
R88 859 508). The group total liabilities exceed the total assets by R14 566 660
(2021: R11 666 800) and the company liabilities exceed the total assets by R14 938 748
(2021: R12 600 483). These factors indicate that a material uncertainty exists that may cast
significant doubt on the company’s ability to continue as a going concern. Our opinion is not
modified in respect of this matter.”

Copies of the full announcement may be requested from the Company
(leeanne@visualinternational.co.za) or inspected at the registered office and/or the
Designated Advisors’ office, at no charge, during office hours.

By order of the Board
Cape Town

30 June 2022
_________________________________________________________________________________________
Directors: CK Robertson; R Kadalie; RR Richards#; CT Vorster#; LT Matlholwa# ZM Mbokazi-
Nkambule#
(# independent non-executive)
Registered Address: 23 Kleinplaas, Hohenort Street, Stellenberg, 7550 (P.O. Box 3163, Tyger
Valley, 7536)
Transfer Secretaries: JSE Investor Services Proprietary Limited, 13th Floor, 19 Ameshoff Street,
Braamfontein, 2017
Company Secretary: Light Consulting Proprietary Limited
Auditors: Moore Johannesburg ER Incorporated
Designated Advisor: AcaciaCap Advisors Proprietary Limited
Website: www.visualinternational.co.za

Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 30-06-2022 03:55:00
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