Notes to the Financial Statements continued Headline loss per share from continued operations 2014 Gross amount R’000 AFRICAN DAWN 111 ANNUAL REPORT 2015 Tax effect R’000 EPS effect in cents per share Headline loss as previously reported (13,268) - (2.61) Adjustments - - - Elite impairment error (A) (6,733) - (1.27) Elite Two error (A) (787) - (0.15) Impairment reclassification (B) 3,547 - 0.67 Reclassification of discontinued operation to continued (731) - (0.14) Reversal of previous headline earnings adjustments: Impairment of non-current asset held for sale (B) (3,547) - (0.67) Non-current asset held for sale (E) (311) - (0.06) Elite impairment error (A) (6,733) - (1.27) Impairment reclassification to Elite error 3,546 - 0.66 Elite Two error (A) (787) - (0.15) Reclassification of discontinued operations to continued error (731) - (0.14) Weighted average adjustment for rights issue 2015 (C) - - 0.12 (21,830) - (4.11) 42. Changes to prior year amounts (continued) Headline loss per share from discontinued operations 2014 Gross amount R’000 Tax effect R’000 EPS effect in cents per share As originally stated (2,714) - (0.53) Elite reclassified into operations (D) 348 - 0.07 Nexus reclassified into operations (D) 383 - 0.07 Weighted average adjustment for rights issue 2015 (C) - - 0.02 (1,983) - (0.37) (A) The prior period errors have no tax effect as the Company already has a tax loss and does not recognise the deferred tax assets on assessed losses. (B) This relates to an additional impairment for trade receivables that were included as part of the disposal group classified as a non-current asset held for sale. It is therefore not an excluded remeasurement and does not have a tax effect. (C) This relates to the rights issue that took place in the 2015 year – refer to note 48. (D) The discontinued operations have no tax effects. (E) This relates to a loss relating to property in possession (i.e. security repossessed when the debtors could not settle the amounts owed). Refer to note 15. It is therefore not an excluded remeasurement.
AFRICAN DAWN 2015 Annual Report
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