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Name | Symbol | Market | Type |
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Qnb Fin 26 | LSE:59CK | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
RNS No 1823b NEW CENTRAL WITWATERSRAND AREAS LIMITED 12th October 1998 New Central Witwatersrand Areas Limited Incorporated in the Republic of South Africa Registration No. 05 04747 06 Interim results and dividend announcement for the six months ended 30 September 1998 (unaudited) ABRIDGED CONSOLIDATED INCOME STATEMENT Six Six months months Year Figures in R000, unless ended ended ended otherwise stated 30.9.98 30.9.97 31.3.98 Investment income 3 062 2 834 5 197 Interest earned less administration expenses 77 29 290 Grants - educational and welfare (55) (46) (49) Net income before taxation 3 084 2 817 5 438 Taxation - - (36) Headline earnings 3 084 2 817 5 402 Surplus on realisation of investments - 5 440 5 440 Total net earnings 3 084 8 257 10 842 Earnings per share - cents Headline earnings 174,6 159,5 305,8 Total net earnings 174,6 467,4 613,7 Dividends per share - cents 174,0 159,0 305,0 ABRIDGED CONSOLIDATED BALANCE SHEET Figures in R000, unless At At At otherwise stated 30.9.98 30.9.97 31.3.98 Shareholders' equity 113 235 131 569 113 538 Current liabilities 3 594 3 195 2 974 116 829 134 764 116 512 Represented by: Investments 109 956 126 531 109 045 Mineral rights at nominal value of R1 - - - Cash resources 6 458 7 871 6 285 Other current assets 415 362 1 182 116 829 134 764 116 512 Market value of listed investments 109 956 126 531 109 045 Number of shares in issue - 000 1 766 1 766 1 766 Net asset value per share - cents (after providing for the dividend and based on the market value of listed investments and mineral rights at nominal value at 30 September 1998). 6 411 7 448 6 428 STATEMENT OF SHAREHOLDERS' EQUITY At At At Figures in R000 30.9.98 30.9.97 31.3.98 Shareholders' equity 113 538 144 188 144 188 Movement in reserves 10 5 448 5 454 Increase (decrease) in market value of investments* (313) (18 067) (36 104) 113 235 131 569 113 538 * In accordance with recent developments in International Accounting Standards, the company has restated its investments to market value with any difference being reflected in the non-distributable reserves as part of shareholders' equity. YEAR 2000 DISCLOSURE New Central Witwatersrand Areas Limited ("NCW") is an investment holding company with no administrative infrastructure of its own. The company has been informed by its holding company, Anglo American Corporation of South Africa Limited ("AAC"), from which it obtains administrative and technical advisory services, that AAC has implemented a strategy, in accordance with international best practice, to achieve acceptable levels of Year 2000 compliance by June 1999. Based on the assessment and information given by AAC to date, NCW does not expect to encounter material operational difficulties and based on a reasonable examination considers the risk to NCW of legal liability to be not material. NOTICE OF DIVIDEND Dividend No. 66 of 174 cents per share has been declared payable on Friday, 4 December 1998 to shareholders registered at the close of business on Friday, 30 October 1998. The register of members will be closed from Saturday, 31 October 1998 to Saturday, 7 November 1998. The full conditions relating to the dividend may be inspected at the Registered and London Offices of the company and at the office of its transfer secretaries. For and behalf of the Board M W King G R Pardoe Directors 9 October 1998 Registered Office: London Office: 44 Main Street 19 Charterhouse Street Johannesburg 2001 London EC1N 6QP South Africa England The interim report has been posted to shareholders and is available from the company's transfer secretaries, Consolidated Share Registrars Limited, 1st Floor Edura, 41 Fox Street, Johannesburg 2001 as well as from the Registered and London Offices of the company. These results are also available on http://www.aac.co.za on the Internet. END IR FSIFMUUAUFLS
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