Release Date: 05/10/2012 15:45:00??????Code(s): GPL ? ? 
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Change Statement And Notice Of Annual General Meeting Grand Parade Investments Limited (Incorporated in the Republic of South Africa) (Registration number: 1997/003548/06) Share code: GPL ISIN: ZAE000119814 ("GPI" or "the Company" or ?the Group?) CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING CHANGE STATEMENT Shareholders are hereby advised that the abridged integrated annual report for the year ended 30 June 2012 is being posted to shareholders today, 5 October 2012 and save for the changes set out below, contains no material modifications to the reviewed results which were published on the Securities Exchange News Service of the JSE on Tuesday, 28 August 2012. STATEMENT OF COMPREHENSIVE INCOME Audited Reviewed 30 June 30 June Note 2012 2012 R change R?000s R?000s R?000s Revenue 435 667 435 667 - Cost of sales (231 248) (231 248) - Gross profit 204 419 204 419 - Operating costs 1 (107 599) (146 209) 38 610 Profit from operations 96 820 58 210 38 610 Profit from equity-accounted investments 2 131 072 130 465 607 Profit on disposal of investments 60 248 60 248 - Reversal of impairment of investments 336 336 - Realisation of fair value reserve 35 588 35 588 - Depreciation 1 (35 987) - (35 987) Amortisation 1 (2 623) - (2 623) Profit before finance costs and taxation 285 454 284 847 607 Finance income 1 781 1 781 - Finance costs (24 225) (24 225) - Profit before taxation 263 010 262 403 607 Taxation (11 598) (11 598) - Profit for the year 251 412 250 805 607 Other comprehensive income Unrealised fair value loss on available-for-sale investments, net of tax (5 676) (5 676) - Realisation of fair value reseve (35 588) (35 588) - Total comprehensive income for the year 210 148 209 541 607 Profit for the year attributable to: Ordinary shareholders 251 412 250 805 607 Total comprehensive income attributable to: Ordinary shareholders 210 148 209 541 607 Basic and diluted earnings per share (cents) 53.58 53.45 0.13 Headline and diluted headline earnings per share (cents) 34.88 34.75 0.13 Adjusted and diluted adjusted headline earnings per share (cents) 29.23 29.09 0.14 Dividend per share 70.00 70.00 - GROUP STATEMENT OF FINANCIAL POSITION Note Audited Reviewed 30 June 2012 30 June 2012 R change R?000s R'000s R'000s ASSETS Non-current assets 2 1 406 521 1 405 914 607 Current assets 461 805 461 804 1 Total assets 1 868 326 1 867 718 608 EQUITY AND LIABILITIES Total equity 1 617 477 1 616 869 608 Shareholders' interest 1 617 477 1 616 869 608 Non-current liabilities - Provisions 173 173 - - Deferred tax liabilities 11 525 11 525 - - Interest-bearing borrowings and loans 37 134 37 134 - - Cumulative redeemable preference shares 101 670 101 670 - Current Liabilities 100 347 100 347 - Total Equity & liabilities 1 868 326 1 867 718 608 Tangible net asset value (before deducting treasury shares)(cents) 312 312 - Adjusted tangible net asset value (after deducting treasury shares)(cents) 314 313 1 Net asset value (before deducting treasury shares)(cents) 351 351 - Adjusted net asset value (after deducting treasury shares) (cents) 352 352 - GROUP STATEMENT OF CASH FLOW Audited Reviewed 30 June 2012 30 June 2012 R change Cash flows from operating activities R?000s R'000s R'000s Profit before taxation 263 010 262 403 607 Non cash flow items - Depreciation and amortisation 38 610 38 610 - - Loss on sale of property, plant and equipment 447 447 - - Profit on disposal of investments (60 248) (60 248) - - Reversal of impairment of investments (336) (336) - - Realisation of fair value reserve (35 588) (35 588) - - Impairment of loans 217 217 - - Profit from equity-accounted investments (131 072) (130 465) (607) - Realisation of expenses previously recognised against share premium 1 189 1 189 - Adjustments for - Finance costs as per the statement of comprehensive income 24 225 24 225 - - Finance income per the statement of comprehensive income (6 797) (6 797) - - Dividends received per the statement of comprehensive income (26 971) (26 971) - - Net working capital changes (18 342) (18 342) - - Income taxes paid (25 704) (25 704) - - Finance income - operations 1 781 1 781 - Net cash inflow from operating activities 24 421 24 421 - Cash flows from investing activities Acquisition of plant and equipment (35 647) (35 647) - Acquisition of land and buildings (25 002) (25 002) - Acquisition of intangible assets (3 672) (3 672) - Consideration from the disposal of plant and equipment 117 117 - Proceeds from the disposal of investments 733 935 733 935 - Finance income ? investments 5 016 5 016 - Dividends received 182 686 182 686 - Net cash inflow from investing activities 857 433 857 433 - Cash flows from financing activities Finance cost (20 735) (20 735) - Shares bought back (24 321) (24 321) - Preference share redeemed (125 726) (125 726) - Loans advanced (1 257) (1 257) - Loans repaid by employees 1 110 1 110 - Dividends paid (322 405) (322 405) - Repayment of interest-bearing borrowings (52 000) (52 000) - Consideration from finance leases advanced 424 424 - Repayment of finance leases (1 045) (1 045) - Net cash outflow from financing activities (545 955) (545 955) - Net cash increase in cash and cash equivalents 335 899 335 899 - Cash and cash equivalents at the beginning of the year 69 248 69 248 - Cash and cash equivalents at the end of the year 405 147 405 147 - The difference between the audited annual financial statements and the reviewed results arise from the change in disclosure of the following items. There has not been any material change in the amounts. Note 1: Depreciation and amortisation were included in operating costs in the reviewed results and have been separately disclosed in the annual financial statements. Note 2: The equity-accounted earnings from Akhona GPI recognised in the reviewed results was based on the unaudited financial information of Akhona GPI whereas the audited financial information contains earnings based on the audited financial information of Akhona GPI resulting in a an increase in the earnings. NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given that the annual general meeting of shareholders of GPI will be held on Wednesday, 12 December 2012, at 18:00 at Market Hall, GrandWest Casino, Goodwood, Cape Town to transact the business stated in the notice of annual general meeting, which notice forms part of the abridged integrated annual report. The date on which shareholders must be recorded in the share register of the Company for purposes of being entitled to attend and vote at the annual general meeting is Friday, 7 December 2012, with the last day to trade being Friday, 30 November 2012. 5 October 2012 Cape Town Sponsor PSG Capital (Pty) Limited Date: 05/10/2012 03:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
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