Interim Results
July 29 2002 - 5:51AM
UK Regulatory
RNS Number:2185Z
Consolidated Co Bultfontein Mine Ld
29 July 2002
CONSOLIDATED COMPANY BULTFONTEIN MINE LIMITED
Incorporated in the Republic of South Africa
Company Registration No. 1888/000006/06
INTERIM REPORT FOR THE HALF-YEAR ENDED 30 JUNE 2002
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INCOME STATEMENT
For the half-year ended 30 June 2002
Abridged and unaudited
Half-year Half-year Year
June June Dec
2002 2001 2001
R R R
Amount received from holding company in terms of 54 112 54 112 108 225
working agreement
Dividend and interest income 10 332 7 881 16 493
Surplus on disposal of investment in holding company - 89 379 89 379
64 444 151 372 214 097
Deduct:
Expenses 1 900 1 900 5 650
Net income before taxation 62 544 149 472 208 447
Deduct:
Taxation 22 656 20 903 43 103
Attributable earnings 39 888 128 569 165 344
Deduct:
Surplus on disposal of investment in holding company - 89 379 89 379
Headline earnings 39 888 39 190 75 965
Number of shares in issue 721 500 721 500 721 500
Earnings per share
Attributable 5,5c 17,8c 22,9c
Headline 5,5c 5,4c 10,5c
Dividends per share
Interim 4,25c 4,25c 4,25c
Final - - 4,50c
4,25c 4,25c 8,75c
Dividends payable R30 664 R30 664 R63 131
BALANCE SHEET
30 June 2002
Abridged and unaudited
Half-year Half-year Year
June June Dec
2002 2001 2001
R R R
Capital employed
Share capital
721 500 shares of R2 each 1 443 000 1 443 000 1 443 000
Distributable reserves 188 869 175 336 179 644
1 631 869 1 618 336 1 622 644
Represented by
Fixed assets 1 417 532 1 417 532 1 417 532
Net current assets 214 337 200 804 205 112
Current assets 315 818 287 847 311 784
Amount due by holding company 263 585 248 872 257 067
Cash 52 233 38 975 54 717
Current liabilities 101 481 87 043 106 672
Shareholders for unpaid and unclaimed dividends 84 095 71 757 89 303
Creditors 11 295 11 043 10 817
Tax 6 091 4 243 6 552
1 631 869 1 618 336 1 622 644
The Company holds the right to mine the Bultfontein diamond mine which it leases
to De Beers Consolidated Mines Limited, in terms of an agreement dated 22
October 1889, for an annual consideration of R108 225 and it is anticipated that
the results for the second half of the year will be approximately the same as
for the first half.
CANCELLATION OF LONDON STOCK EXCHANGE LISTING
In a letter dated 2 July 2002 shareholders were informed of the board's decision
to arrange for the cancellation of the listing of the Company's shares on the
Official List of the UK Listing Authority with effect from Friday, 2 August
2002. After that date trading of the Company's shares on the London Stock
Exchange will no longer be possible.
Following cancellation of the listing of the Company's shares, the United
Kingdom section of the share register will be closed and the names and addresses
contained therein will in future be administered from the principal share
register maintained by the Company at its registered office in South Africa,
details of which are included below. However, arrangements have been made to
ensure that those shareholders with registered addresses in Europe (including
the United Kingdom), or who have mandated dividend payments to addresses in
Europe (including the United Kingdom), will continue to receive payment of their
dividends in United Kingdom currency and that any existing dividend mandates
remain in place.
For and on behalf of the board
N.F. OPPENHEIMER
G.M. RALFE
Directors
29 July 2002
Registered Office
36 Stockdale Street, Kimberley 8301, South Africa
Secretaries and South African Share Transfer Secretaries
De Beers Consolidated Mines Limited
36 Stockdale Street, Kimberley 8301, South Africa
(P.O. Box 616, Kimberley 8300)
Telephone: +27(0)53 839 4111
Facsimile: +27(0)53 839 4210
London Secretary
J.C. Greensmith
17 Charterhouse Street, London EC1N 6RA, England
Telephone: +44(0)20 7430 3550
Facsimile: +44(0)20 7430 3570
United Kingdom Registrar (until 2 August 2002)
Computershare Investor Services PLC
P.O. Box 82, The Pavilions, Bridgwater Road, Bristol BS99 7NH, England
Telephone: +44(0)870 702 0000
Facsimile: +44(0)870 703 6116
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