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310-814 - Sun Certified MySQL Associate - Dump Information
Vendor | : | SUN |
Exam Code | : | 310-814 |
Exam Name | : | Sun Certified MySQL Associate |
Questions and Answers | : | 240 Q & A |
Updated On | : | October 30, 2017 |
PDF Download Mirror | : | 310-814 Brain Dump |
Get Full Version | : | Pass4sure 310-814 Full Version |
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QUESTION: 227
Which of the following functions is used to determine whether a value is odd or even?
- TRIM
- MOD
- ROUND
- TRUNC
Answer: B
QUESTION: 228
Which of the following CANNOT be committed?
- GRANT
- CURRENT LOCK TIMEOUT
- ALTER
- LOCK TABLE
Answer: B
QUESTION: 229
Which of the following comprises a unit of work performed within a database management system?
- Atomicity
- Consistency
- Database transaction
- Isolation
Answer: C
QUESTION: 230
Which of the following options executes when BEGIN TRANS operator is called?
- Consistency
- Isolation
- Atomicity
- Transaction
Answer: D
QUESTION: 231
Which of the following is an operation that returns the database to some previous state?
- Return
- Begin transaction
- Rollback
- Commit
Answer: C
QUESTION: 232
Which of the following is based on the ACID properties?
- Database transaction
- Database security
- Database authentication
- Database concurrency control
Answer: A
QUESTION: 233
Which of the following statements is used to insert, update, or delete bulk data?
- BULK statement
- BULK COLLECT INTO statement
- FORALL statement
- FOR Loop statement
Answer: C
QUESTION: 234
Which of the following actions will you take to make the changes permanent in a database?
- Issuing a COMMIT statement.
- Flushing the changes to the disk by DBWR.
- Issuing a ROLLBACK statement.
- Issuing a SAVEPOINT statement.
Answer: A
QUESTION: 235
Which of the following is NOT a supported transaction control statement?
- SAVEPOINT
- ROLLBACK
- CHECKPOINT
- COMMIT
Answer: C
QUESTION: 236
Which
of the following options is used to terminate a transaction and to save
all changes made by the transaction to the database?
- Savepoint
- Commit
- Rollback
- Lock
Answer: B
QUESTION: 237
Which
of the following is the procedural code that is executed automatically
in response to certain events on a particular table or view in the
database?
- Constraint
- View
- Cursor
- Database trigger
Answer: D
QUESTION: 238
Which of the following is referred to as a logical unit of work where related DML statements are grouped together?
- Cursor
- View
- Trigger
- Transaction
Answer: D
QUESTION: 239
Which
of the following statements is used to terminate a transaction and to
save all the changes made by the transaction to the database?
- ROLLBACK
- SAVEPOINT
- TERMINATE
- COMMIT
Answer: D
QUESTION: 240
Which of the following properties refers that other operations cannot access same data during its transaction?
- Atomicity
- Isolation
- Durability
- Consistency
Answer: B
SUN 310-814 Exam (Sun Certified MySQL Associate) Detailed Information
Article by ArticleForge
Article by ArticleForge
CSG 201511250001AInterim results CSG HOLDINGS LIMITED(orporated in the Republic of South Africa)(Registration number 200601135906)JSE code: CSGISIN: ZAE000184438(“CSG” or “the Company” or “the Group”) Unaudited condensed consolidated interim results for the sixmonths ended 30 September 2015 Financial performanceThe CSG Holdings Group, comprising workforce management,facility management and mining, plant and construction sitesupport services, realised a decrease in revenue and operatingprofit for the six months ended 30 September 2015.Headline earnings per share and earnings per share for the sixmonths ended 30 September 2015 are 9,83 cents and 9,85 centsrespectively, representing a 13% and 12% increase respectivelyin comparison to that reported for the six months ended30 September 2014. This increase is primarily due to thebenefit of the additional 49% interest acquired in SignificantSite Services Proprietary Limited (“SSS”) in July 2014 and thepositive impact of the once-off re-measurement of thecontingent consideration relating to the ConinghamLeeProprietary Limited (“ConinghamLee”) acquisition ofR10,389 million (see note 4). Notwithstanding this, earningswere negatively impacted by the changes in legislation ontemporary employment and pressure on commodity prices whichresulted in cost cutting measures from clients during theperiod under review. Divisional reviewWorkforce Management DivisionRevenue decreased by 15% to R311,10 million contributingR31,75 million to the operating profit of the Group. Thisdivision’s revenue was negatively impacted by the slowdown inthe South African economy together with the pressure incommodity prices, which resulted in a lesser demand fortemporary employees. The change in the labour legislation ontemporary labour also had an adverse impact but we areexpecting stability to return to the workforce industry ascompanies adapt to the changes in the legislation.Operatingprofit increased by 9% due to the inclusion of six months ofprofits from ConinghamLee for the period ended30 September 2015 which is not included in the comparativeperiod. ConinghamLee is a specialist recruitment andplacement business focusing on the banking and financialservices and engineering industries and has higher marginsthan the temporary employment services. Facility Management DivisionRevenue decreased by 8% to R207,83 million contributingR11,21 million to the operating profit of the Group. Theslowdown in infrastructure development on the Africancontinent mainly due to the pressure on commodity pricesimpacted the demand for remote site services in variousAfrican countries. This was the main reason for the decreasedprofit when compared to the previous six months, as margins in2014 achieved in these remote areas were materially higher thanthose in the domestic market. Acquiring the minorityshares of Ukweza Holdings Proprietary Limited (“Ukweza”)effective 1 October 2015, together with the acquisition ofAfriboom Proprietary Limited (“Afriboom”) and the Hi-Tech group(see note 9) will only result in an increase in earningsattributable to equity shareholders of the Company in thesecond half of the year. Mining, Plant and Construction Site Support Services DivisionThis division’s revenue was R64,32 million which represents anincrease of 38% compared to the comparative period andcontributing R13,18 million to the operating profit of theGroup. The increase is mainly due to the performance of UmdeniMaintenance which provides outsourced services to clients on acontracting basis. This is in line with the trend in the marketof changing temporary employment contracts to outsourcecontracts. Condensed consolidated statement of comprehensive incomeSix months ended30 Sept Year ended30 Sept 2014 31 Mar2015 Unaudited 2015Unaudited Restated AuditedNotes R’000 R’000 R’000Revenue 583 246 637 256 1 286 659Cost of sales (471 478) (518 064) (1 051 829)Gross profit 111 768 119 192 234 830Net operating expenses (65 178) (60 686) (122 384)Operating profit 46 590 58 506 112 446Profit on sale ofproperty, plant andequipment 132 405 1 308Gain on bargainpurchase – – 278Re-measurement ofcontingentconsideration relatingto businessacquisition 4 10 389 – –Investment income 1 719 1 248 3 549Finance cost (1 781) (977) (3 086)ome from equityaccounted investments – 177 508Profit before taxation 57 049 59 359 115 003Taxation (13 267) (16 166) (31 237)Profit for the period 43 782 43 193 83 766Other comprehensiveincome (416) (107) 41Total comprehensiveincome 43 366 43 086 83 807Profit for the periodattributable to:Owners of the parent 41 105 35 399 73 549Non-controllinginterest 2 677 7 794 10 21743 782 43 193 83 766Other comprehensiveincome attributableto:Owners of the parent (376) 52 (297)Non-controllinginterest (40) (159) 338(416) (107) 41Weighted averageshares in issue (’000) 417 338 402 482 409 746Diluted weightedaverage shares inissue (’000) 421 232 407 840 415 029Earnings per shareBasic earnings pershare (cents) 9,85 8,80 17,95Diluted earnings pershare (cents) 9,76 8,68 17,72Dividend per share(cents) – – 4,48Headline earningsreconciliationAttributable earnings 41 105 35 399 73 549Profit on sale ofproperty, plant andequipment (aftertaxation) (95) (291) (942)Goodwill impairment – – 440Gain on bargainpurchase – – (278)Headline earnings 41 009 35 107 72 769Headline earningsper shareBasic headlineearnings pershare (cents) 9,83 8,72 17,76Diluted headlineearnings per share(cents) 9,74 8,61 17,53 Condensed consolidated statement of financial position30 Sept 30 Sept 31 Mar2015 2014 2015Unaudited Unaudited AuditedNotes R’000 R’000 R’000AssetsNon-current assets 164 762 128 677 162 093Property, plant and 31 403 22 326 28 912equipmentIntangible assets 648 – 803Goodwill 127 462 93 597 127 462Investment in andloans to jointventures – 7 920 –Deferred taxation 4 939 4 020 4 619Loans to relatedparties 310 814 297Current assets 314 640 310 074 304 477Inventories 8 137 9 138 6 343Current income taxreceivable 684 353 1 429Current portion ofloans to relatedparties – – 352Trade and otherreceivables 237 613 220 473 208 244Bank and call deposits 68 206 80 110 88 109Total assets 479 402 438 750 466 570Equity and liabilitiesCapital and reserves 341 540 277 602 317 313Stated capital 188 694 130 353 187 591Vendor shares – 57 238 –Treasury shares 5 (1 571) – (1 395)Share based paymentreserve 582 – 385Retained earnings 140 522 79 827 117 979Foreign currencytranslation reserve (954) (229) (579)Non-controllinginterest 14 267 10 413 13 332Non-currentliabilities 22 180 7 344 25 044Interest bearingliabilities 22 128 6 007 24 992Loans from relatedparties – 1 314 –Deferred taxation 52 23 52Current liabilities 115 682 153 804 124 213Current portion ofinterest bearingliabilities 9 829 6 140 11 210Current portion ofloans from relatedparties 138 – 676Bank overdrafts andinvoice discounting 7 770 17 015 6 246Trade and otherpayables 91 934 115 168 99 940Current income taxpayable 6 011 15 481 6 141Total equity andliabilities 479 402 438 750 466 570Shares in issue (’000) 418 322 417 010 417 010Net asset value pershare (cents) 81,6 66,6 76,1Net tangible assetvalue per share(cents) 51,2 44,1 45,3 Condensed consolidated statement of cash flowsSix months ended Year ended30 Sept 30 Sept 31 Mar2015 2014 2015Unaudited Unaudited AuditedNotes R’000 R’000 R’000Cash flow fromoperations 9 373 50 588 88 829Cash generated byoperations 22 406 62 223 127 976Investment income 1 719 1 248 3 549Finance cost (1 781) (977) (3 086)Taxation paid (12 971) (11 906) (39 610)Cash flow frominvesting activities (6 636) (7 771) (35 017)Net investment inproperty, plant andequipment (6 636) (3 771) (10 062)Net investment inintangible assets – – (876)Cash purchaseconsideration maderelating to SSSacquisition – (4 000) (4 000)Net cash acquiredthrough businesscombinations – – (20 079)Cash flow fromfinancing activities (24 164) (6 749) 1 024Dividends paid (20 648) (7 427) (22 965)Net purchase oftreasury shares 5.1 (176) – (1 395)Issue of ordinary 5.2 1 103 – –sharesMovement in interestbearing liabilitiesand related partyloans (4 443) 678 25 384(Decrease)increasein cash resources (21 427) 36 068 54 836Cash resources atbeginning of period 81 863 27 027 27 027Cash resources at endof period 60 436 63 095 81 863Cash resources 60 436 63 095 81 863Bank and call deposits 68 206 80 110 88 109Bank overdraft andinvoice discounting (7 770) (17 015) (6 246) Condensed consolidated statement of changes in equityTotal attri-Totalattri-butable Non-to equity controlling Totalholders of interest equityNotes the parent R’000 R’000Equity at 1 April 2014(Audited) 238 212 23 269 261 481Total comprehensiveincome for the period 35 450 7 636 43 086Dividend paid (15 518) (7 447) (22 965)Additional SSSacquisition 9 045 (13 045) (4 000)Shares purchased fromnon-controllinginterest (48 193) (13 045) (61 238)Shares issued as partof businesscombination 57 238 – 57 238Equity at 30 September2014 (Unaudited) 267 189 10 413 277 602Total comprehensiveincome for the period 37 802 2 919 40 721Share based paymentreserve 385 – 385Treasury shares (1 395) – (1 395)Equity at 31 March2015 (Audited) 303 981 13 332 317 313Total comprehensiveincome for the period 40 729 2 637 43 366Dividend paid (18 682) (1 966) (20 648)Share based paymentreserve 582 – 582Treasury shares 5.1 (176) – (176)Ordinary shares issued 5.2 1 103 – 1 103Sale of shares to non-controlling interest 8 (264) 264 –Equity at 30 September2015 (Unaudited) 327 273 14 267 341 540 Segment reportingSix months ended30 Sept Year ended30 Sept 2014 31 Mar2015 Unaudited 2015Unaudited Restated AuditedR’000 R’000 R’000RevenueWorkforce management 311 097 364 790 741 475Facility management 207 825 225 963 451 846Mining, plant andconstruction site supportservices 64 324 46 463 93 338Head office – 40 –Total Group 583 246 637 256 1 286 659Operating profit 46 590 58 506 112 446Workforce management 31 748 29 204 66 880Facility management 11 206 25 320 41 413Mining, plant andconstruction site supportservices 13 183 10 778 20 782Head office (9 547) (6 796) (16 629)Profit before taxation 57 049 59 359 115 003Workforce management 41 328 29 734 68 494Facility management 11 257 25 561 41 770Mining, plant andconstruction site supportservices 13 007 10 510 20 399Head office (8 543) (6 446) (15 660) Notes to the condensed consolidated interim financial results1. Nature of operationsCSG is a holding company incorporated and domiciled inSouth Africa. The main business is to provide outsourcedpersonnel services, including recruitment and specialisedstaffing, facilities management which includes security,contract catering, cleaning and food services, and outsourcedindustrial and mining support services to a range of clients. 2. Comparative informationAn amount of R35,51 million has been reclassified betweensales and cost of sales in the comparative period ended30 September 2014. This was as a result of an intercompanyjournal that was not eliminated. The journal was correctlyeliminated for the year ended 31 March 2015. 3. Basis of preparationThese condensed consolidated interim results for the sixmonths ended 30 September 2015 have been prepared inaccordance with the framework concepts and the measurement andrecognition requirements of International Financial ReportingStandards (“IFRS”), the information required by IAS 34– Interim Financial Reporting, the SAICA Financial ReportingGuides as issued by the Accounting Practices Committee andFinancial Reporting Pronouncements as issued by the FinancialReporting Standards Council, the requirements of theSouth African Companies Act No 71 of 2008, and the JSE LimitedListings Requirements. The results have been prepared inaccordance with the accounting policies of the Company thatare in terms of IFRS and that are consistent with theaccounting policies of the previous annual financialstatements. These results were prepared under the supervisionof the Group CFO, Mr WE Scott CA(SA). 4. ConinghamLee contingent considerationAt the date of acquisition, based on the projected profits forConinghamLee, an accrual for the full expected additionalconsideration payable in November 2015 was raised.Unfortunately the performance of ConinghamLee’s mining andengineering desks during the last few months was negativelyimpacted by the pressure on commodity prices and cost cuttingmeasures implemented by their clients, which directly impactedthe expected profits during the performance guaranteed period.A portion of the contingent consideration was thereforere-measured during the interim period. The declining resultsare an indicator of impairment of goodwill and managementperformed a detailed impairment test which did not result inan impairment. 5. Ordinary shares5.1 Treasury sharesTreasury shares relate to the purchase of shares by the CSGShare entive Trust (“Trust”) to fulfil its obligation interms of share option schemes. 5.2 Ordinary shares issuedDuring July 2015 1 312 502 shares were issued topredetermined participants resulting from an exercise ofoptions pursuant to a specific issue of options by CSG. 6. Dividend paymentA dividend of 4,48 cents per share was declared to theshareholders for the period ended 31 March 2015 on1 June 2015. 7. Capital commitments and contingenciesThe Group had no significant outstanding capitalcommitments or contingencies as at 30 September 2015. 8. Sale of 35% interest in Umdeni Maintenance and AfricaSunOn 1 April 2015, 35% of the equity interest of both UmdeniMaintenance Services Proprietary Limited and Africa SunProcurement Proprietary Limited was sold to the CSG BlackWomen Trust in terms of a sale of shares agreement. The salehas not resulted in a loss of control. The full 35% of netasset value has been accounted for as a sale in retainedearnings. 9. Events after the reporting periodThe directors are not aware of any material events, otherthan events noted below, which occurred after the reportingdate and up to the date of this report. 9.1 Additional 38,1% interest acquired in UkwezaAs communicated to shareholders in the SENS announcementdated 1 September 2015, shareholders were informed thatThyme 2 Proprietary Limited and Mr Gary Davis had accepted anoffer from CSG to acquire their respective shareholdings inUkweza. CSG had a 61,9% interest in Ukweza while Ukweza had a55% interest in Phakamani Solutions Proprietary Limited(“Phakamani”) and a 25,5% interest in SSS. CSG held a further74,5% direct interest in SSS. Following the acquisition, CSGnow holds 100% of Ukweza, 100% of SSS and 55% of Phakamani.The purchase consideration payable by CSG in terms of theacquisition was an initial amount of R7 million (“initialamount”), which may be increased by a maximum amount ofR33 million (“performance guarantee amount”) based on thefinancial performance of Ukweza for the year ending31 March 2016. Payment of the initial amount was made on1 October 2015, which was also the effective dateof the transaction. The performance guarantee amount will besettled through the issue of CSG shares. The shares will beissued at a volume weighted average price (“VWAP”) of CSG forthe 30 business days after the effective date. The new CSGshares will be issued ex any dividend declared by CSG for theyear ending 31 March 2016. As control already existed at dateof acquisition the transaction for the additional 38,1% interestis not accounted for as a business combination in terms of IFRS3 and the excess above Ukweza’s additional net asset value willbe accounted for against retained earnings. 9.2 AfriboomAs communicated to shareholders in the SENS announcement dated7 September 2015, the Company had entered into a sale of sharesagreement with Pietervan der Westhuizen, sole shareholder ofAfriboom. In terms of the agreement, CSG acquired 100% of theissued ordinary share capital of Afriboom on 1 October 2015.The effective date for the transaction was 1 October 2015. Thepurchase consideration payable by CSG in terms of theacquisition was an initial amount of R5 million (“initialamount”), which may be increased by a maximum amount ofR30 million (“performance guarantee amount”) based on thefinancial performance of Afriboom for the 12-month periodimmediately following the effective date of the acquisition(“performance guarantee period”). Payment of the initial amountwas made on 21 October 2015.30% of the performance guarantee amount will be settled throughthe issue of CSG shares. The shares will be issued at a VWAP ofCSG for the 30 business days prior to the effective date. Theremaining 70% will be settled in cash on the same day that theshares are issued. The transaction will be accounted for interms of IFRS 3 – Business Combinations and a full purchaseprice allocation will be performed within twelve months asallowed by this standard. The information provided below isbased on provisional results of Afriboom as at30 September 2015. Recognised amounts of identifiable net assets30 Sept Year endedAt 30 September 2015 R’000Non-current assets 4 004Property, plant and equipment 3 333Deferred tax assets 671Current assets 7 173Loans to related parties 162Trade and other receivables 4 582Inventories 262Bank and cash 2 168Non-current liabilities 881Finance lease liabilities 881Current liabilities 8 998Taxation payable 70Trade and other payables 8 928Identifiable net assets 1 298Cash flow informationBank balance acquired 2 168 The profits and net asset value attributable to Afriboom wasset out in detail in the SENS announcement dated7 September 2015. 9.3 Hi-Tech Laeveld, Hi-Tech Nelspruit and Hi-Tech White RiverAs detailed in the SENS announcement dated 4 November 2015,CSG made the following acquisitions:– CSG, through its wholly owned subsidiary Global ResourcesEducation Proprietary Limited (“GRE”), had entered into anagreement with Hi-Tech Sekuriteit Laeveld Proprietary Limited(“Hi-Tech Laeveld”), in terms of which GRE had acquired thefranchising security business owned, managed and operated byHi-Tech as a going concern. The acquisition includes thepurchase of all franchise contracts togetherwith the operating contracts and ICASA licences, suppliercontracts, debtors, goodwill, intellectual property and stockused in the conduct of the business (“Laeveld acquisition”);– CSG had entered into an agreement with The Future KerswillTrust(represented by Mr JR Kerswill), in terms of which CSGhas acquired a 100% interest in the issued share capital ofHi-Tech Nelspruit Proprietary Limited (“Nelspruit acquisition”);and– CSG had entered into an agreement with Mr JR Kerswill andMr JP Kerswill in terms of which CSG has acquired a 100%interest in the issued share capital of White River Hi-TechSecurity Proprietary Limited (“White River acquisition”). TheWhite River monitoring business, including contracts, customersand related assets of the White River franchisee of Hi-TechLaeveld, was transferred to White River Hi-Tech Security priorto the effective date.The effective date for the transactionswas 1 November 2015.The purchase consideration payable by CSG interms of the acquisitions was an initial amount payable in cash(“initial amount”), which may be increased by a maximum amount(“performance guarantee amount”) based on the financialperformance of the companies over a certain period of time(“performance guarantee period”), set out in more detail below: Laeveld acquisitionThe total consideration for the Laeveld acquisition isR52,5 million, to be settled in cash as follows: R5 millionalreadypaid on 5 November 2015; R37,5 million to be paid 21 calendardays after the effective date; and R10 million to be paid into atrust account 21 calendar days after the effective date and paidto the sellers upon confirmation that, inter alia, the operatingcontracts and licences have been transferred to CSG. Nelspruit acquisitionR26,6 million to be paid in four tranches of varying amounts,with the first R5 million already paid on 4 November 2015, andthe final tranche being paid on or before 10 December 2015. Theperformance guarantee amount will be based on the financialperformance of Hi-Tech Nelspruit for the 12 months immediatelyfollowing theeffective date (at a price earnings multiple of four times),which amount will be payable within seven days on thefinalisation and acceptance by both parties of the managementaccounts relating to that period. The maximum consideration forthe Nelspruit acquisition will be R55 million. White River acquisitionR200 000 to be paid directly to the White River franchisee asand whenthis amount becomes due in terms of a separate agreement.The performance guarantee amount will be based on the financialperformance of Hi-Tech White River for months 13 to 24 after theeffective date (at a price earnings multiple of four times). 50%of the final amount will be settled in cash by no later than31 December 2017 and the remaining 50% will be settled throughthe issue of CSG shares. The shares will be issued within 60 daysof the finalisation and acceptance by both parties of themanagement accounts relating to that period at the VWAP of CSG forthe 30 business days prior to the last day of the 24th month afterthe effective date. The maximum consideration for the White Riveracquisition will be R25 million. All subsequent payments will befunded using a medium-term funding facility with Nedbank bearinginterest at prime rate and repayable over five years.The transaction will be accounted for in terms of IFRS 3 –Business Combinations and a full purchase price allocation will beperformed within 12 months as allowed by this standard.Due to the fact that the release of the interim results is soclose to the effective date, it is not possible to make therequired IFRS 3 disclosures as the initial accounting is stillincomplete. Profits and net asset value attributable to Hi-Techwas set out in detail in the SENS announcement dated4 November 2015. 10. Going concernThe financial information has been prepared on a going concernbasis. For and on behalf of the boardBT Ngcuka (Chairman)PJJ Dry (Chief executive) Wednesday, 25 November 2015DirectorsBT Ngcuka* (Chairman); PJJ Dry (CEO); JG Nieuwoudt (COO);WE Scott (CFO); NG Thiart; NN Sonjani*#; PN de Waal*; M Mokoka*#(* non-executive) (# independent) Secretary and registered officeMN Hattingh, 6 Topaz Street, Lyttelton Manor, Centurion, 0157 Transfer SecretariesLink Market Services South Africa Proprietary Limited,13th Floor,Rennie House, 19 Ameshoff Street, Braamfontein(PO Box 4844, Johannesburg, 2001) Designated AdvisorSasfin Capital (a division of Sasfin Bank Limited) Date: 25112015 07:05:00 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 ofthe 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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CSG HOLDINGS LIMITED – Interim results
25 November 2015 07:05 SENS announcement for JSE listed company: CSGCSG 201511250001AInterim results CSG HOLDINGS LIMITED(orporated in the Republic of South Africa)(Registration number 200601135906)JSE code: CSGISIN: ZAE000184438(“CSG” or “the Company” or “the Group”) Unaudited condensed consolidated interim results for the sixmonths ended 30 September 2015 Financial performanceThe CSG Holdings Group, comprising workforce management,facility management and mining, plant and construction sitesupport services, realised a decrease in revenue and operatingprofit for the six months ended 30 September 2015.Headline earnings per share and earnings per share for the sixmonths ended 30 September 2015 are 9,83 cents and 9,85 centsrespectively, representing a 13% and 12% increase respectivelyin comparison to that reported for the six months ended30 September 2014. This increase is primarily due to thebenefit of the additional 49% interest acquired in SignificantSite Services Proprietary Limited (“SSS”) in July 2014 and thepositive impact of the once-off re-measurement of thecontingent consideration relating to the ConinghamLeeProprietary Limited (“ConinghamLee”) acquisition ofR10,389 million (see note 4). Notwithstanding this, earningswere negatively impacted by the changes in legislation ontemporary employment and pressure on commodity prices whichresulted in cost cutting measures from clients during theperiod under review. Divisional reviewWorkforce Management DivisionRevenue decreased by 15% to R311,10 million contributingR31,75 million to the operating profit of the Group. Thisdivision’s revenue was negatively impacted by the slowdown inthe South African economy together with the pressure incommodity prices, which resulted in a lesser demand fortemporary employees. The change in the labour legislation ontemporary labour also had an adverse impact but we areexpecting stability to return to the workforce industry ascompanies adapt to the changes in the legislation.Operatingprofit increased by 9% due to the inclusion of six months ofprofits from ConinghamLee for the period ended30 September 2015 which is not included in the comparativeperiod. ConinghamLee is a specialist recruitment andplacement business focusing on the banking and financialservices and engineering industries and has higher marginsthan the temporary employment services. Facility Management DivisionRevenue decreased by 8% to R207,83 million contributingR11,21 million to the operating profit of the Group. Theslowdown in infrastructure development on the Africancontinent mainly due to the pressure on commodity pricesimpacted the demand for remote site services in variousAfrican countries. This was the main reason for the decreasedprofit when compared to the previous six months, as margins in2014 achieved in these remote areas were materially higher thanthose in the domestic market. Acquiring the minorityshares of Ukweza Holdings Proprietary Limited (“Ukweza”)effective 1 October 2015, together with the acquisition ofAfriboom Proprietary Limited (“Afriboom”) and the Hi-Tech group(see note 9) will only result in an increase in earningsattributable to equity shareholders of the Company in thesecond half of the year. Mining, Plant and Construction Site Support Services DivisionThis division’s revenue was R64,32 million which represents anincrease of 38% compared to the comparative period andcontributing R13,18 million to the operating profit of theGroup. The increase is mainly due to the performance of UmdeniMaintenance which provides outsourced services to clients on acontracting basis. This is in line with the trend in the marketof changing temporary employment contracts to outsourcecontracts. Condensed consolidated statement of comprehensive incomeSix months ended30 Sept Year ended30 Sept 2014 31 Mar2015 Unaudited 2015Unaudited Restated AuditedNotes R’000 R’000 R’000Revenue 583 246 637 256 1 286 659Cost of sales (471 478) (518 064) (1 051 829)Gross profit 111 768 119 192 234 830Net operating expenses (65 178) (60 686) (122 384)Operating profit 46 590 58 506 112 446Profit on sale ofproperty, plant andequipment 132 405 1 308Gain on bargainpurchase – – 278Re-measurement ofcontingentconsideration relatingto businessacquisition 4 10 389 – –Investment income 1 719 1 248 3 549Finance cost (1 781) (977) (3 086)ome from equityaccounted investments – 177 508Profit before taxation 57 049 59 359 115 003Taxation (13 267) (16 166) (31 237)Profit for the period 43 782 43 193 83 766Other comprehensiveincome (416) (107) 41Total comprehensiveincome 43 366 43 086 83 807Profit for the periodattributable to:Owners of the parent 41 105 35 399 73 549Non-controllinginterest 2 677 7 794 10 21743 782 43 193 83 766Other comprehensiveincome attributableto:Owners of the parent (376) 52 (297)Non-controllinginterest (40) (159) 338(416) (107) 41Weighted averageshares in issue (’000) 417 338 402 482 409 746Diluted weightedaverage shares inissue (’000) 421 232 407 840 415 029Earnings per shareBasic earnings pershare (cents) 9,85 8,80 17,95Diluted earnings pershare (cents) 9,76 8,68 17,72Dividend per share(cents) – – 4,48Headline earningsreconciliationAttributable earnings 41 105 35 399 73 549Profit on sale ofproperty, plant andequipment (aftertaxation) (95) (291) (942)Goodwill impairment – – 440Gain on bargainpurchase – – (278)Headline earnings 41 009 35 107 72 769Headline earningsper shareBasic headlineearnings pershare (cents) 9,83 8,72 17,76Diluted headlineearnings per share(cents) 9,74 8,61 17,53 Condensed consolidated statement of financial position30 Sept 30 Sept 31 Mar2015 2014 2015Unaudited Unaudited AuditedNotes R’000 R’000 R’000AssetsNon-current assets 164 762 128 677 162 093Property, plant and 31 403 22 326 28 912equipmentIntangible assets 648 – 803Goodwill 127 462 93 597 127 462Investment in andloans to jointventures – 7 920 –Deferred taxation 4 939 4 020 4 619Loans to relatedparties 310 814 297Current assets 314 640 310 074 304 477Inventories 8 137 9 138 6 343Current income taxreceivable 684 353 1 429Current portion ofloans to relatedparties – – 352Trade and otherreceivables 237 613 220 473 208 244Bank and call deposits 68 206 80 110 88 109Total assets 479 402 438 750 466 570Equity and liabilitiesCapital and reserves 341 540 277 602 317 313Stated capital 188 694 130 353 187 591Vendor shares – 57 238 –Treasury shares 5 (1 571) – (1 395)Share based paymentreserve 582 – 385Retained earnings 140 522 79 827 117 979Foreign currencytranslation reserve (954) (229) (579)Non-controllinginterest 14 267 10 413 13 332Non-currentliabilities 22 180 7 344 25 044Interest bearingliabilities 22 128 6 007 24 992Loans from relatedparties – 1 314 –Deferred taxation 52 23 52Current liabilities 115 682 153 804 124 213Current portion ofinterest bearingliabilities 9 829 6 140 11 210Current portion ofloans from relatedparties 138 – 676Bank overdrafts andinvoice discounting 7 770 17 015 6 246Trade and otherpayables 91 934 115 168 99 940Current income taxpayable 6 011 15 481 6 141Total equity andliabilities 479 402 438 750 466 570Shares in issue (’000) 418 322 417 010 417 010Net asset value pershare (cents) 81,6 66,6 76,1Net tangible assetvalue per share(cents) 51,2 44,1 45,3 Condensed consolidated statement of cash flowsSix months ended Year ended30 Sept 30 Sept 31 Mar2015 2014 2015Unaudited Unaudited AuditedNotes R’000 R’000 R’000Cash flow fromoperations 9 373 50 588 88 829Cash generated byoperations 22 406 62 223 127 976Investment income 1 719 1 248 3 549Finance cost (1 781) (977) (3 086)Taxation paid (12 971) (11 906) (39 610)Cash flow frominvesting activities (6 636) (7 771) (35 017)Net investment inproperty, plant andequipment (6 636) (3 771) (10 062)Net investment inintangible assets – – (876)Cash purchaseconsideration maderelating to SSSacquisition – (4 000) (4 000)Net cash acquiredthrough businesscombinations – – (20 079)Cash flow fromfinancing activities (24 164) (6 749) 1 024Dividends paid (20 648) (7 427) (22 965)Net purchase oftreasury shares 5.1 (176) – (1 395)Issue of ordinary 5.2 1 103 – –sharesMovement in interestbearing liabilitiesand related partyloans (4 443) 678 25 384(Decrease)increasein cash resources (21 427) 36 068 54 836Cash resources atbeginning of period 81 863 27 027 27 027Cash resources at endof period 60 436 63 095 81 863Cash resources 60 436 63 095 81 863Bank and call deposits 68 206 80 110 88 109Bank overdraft andinvoice discounting (7 770) (17 015) (6 246) Condensed consolidated statement of changes in equityTotal attri-Totalattri-butable Non-to equity controlling Totalholders of interest equityNotes the parent R’000 R’000Equity at 1 April 2014(Audited) 238 212 23 269 261 481Total comprehensiveincome for the period 35 450 7 636 43 086Dividend paid (15 518) (7 447) (22 965)Additional SSSacquisition 9 045 (13 045) (4 000)Shares purchased fromnon-controllinginterest (48 193) (13 045) (61 238)Shares issued as partof businesscombination 57 238 – 57 238Equity at 30 September2014 (Unaudited) 267 189 10 413 277 602Total comprehensiveincome for the period 37 802 2 919 40 721Share based paymentreserve 385 – 385Treasury shares (1 395) – (1 395)Equity at 31 March2015 (Audited) 303 981 13 332 317 313Total comprehensiveincome for the period 40 729 2 637 43 366Dividend paid (18 682) (1 966) (20 648)Share based paymentreserve 582 – 582Treasury shares 5.1 (176) – (176)Ordinary shares issued 5.2 1 103 – 1 103Sale of shares to non-controlling interest 8 (264) 264 –Equity at 30 September2015 (Unaudited) 327 273 14 267 341 540 Segment reportingSix months ended30 Sept Year ended30 Sept 2014 31 Mar2015 Unaudited 2015Unaudited Restated AuditedR’000 R’000 R’000RevenueWorkforce management 311 097 364 790 741 475Facility management 207 825 225 963 451 846Mining, plant andconstruction site supportservices 64 324 46 463 93 338Head office – 40 –Total Group 583 246 637 256 1 286 659Operating profit 46 590 58 506 112 446Workforce management 31 748 29 204 66 880Facility management 11 206 25 320 41 413Mining, plant andconstruction site supportservices 13 183 10 778 20 782Head office (9 547) (6 796) (16 629)Profit before taxation 57 049 59 359 115 003Workforce management 41 328 29 734 68 494Facility management 11 257 25 561 41 770Mining, plant andconstruction site supportservices 13 007 10 510 20 399Head office (8 543) (6 446) (15 660) Notes to the condensed consolidated interim financial results1. Nature of operationsCSG is a holding company incorporated and domiciled inSouth Africa. The main business is to provide outsourcedpersonnel services, including recruitment and specialisedstaffing, facilities management which includes security,contract catering, cleaning and food services, and outsourcedindustrial and mining support services to a range of clients. 2. Comparative informationAn amount of R35,51 million has been reclassified betweensales and cost of sales in the comparative period ended30 September 2014. This was as a result of an intercompanyjournal that was not eliminated. The journal was correctlyeliminated for the year ended 31 March 2015. 3. Basis of preparationThese condensed consolidated interim results for the sixmonths ended 30 September 2015 have been prepared inaccordance with the framework concepts and the measurement andrecognition requirements of International Financial ReportingStandards (“IFRS”), the information required by IAS 34– Interim Financial Reporting, the SAICA Financial ReportingGuides as issued by the Accounting Practices Committee andFinancial Reporting Pronouncements as issued by the FinancialReporting Standards Council, the requirements of theSouth African Companies Act No 71 of 2008, and the JSE LimitedListings Requirements. The results have been prepared inaccordance with the accounting policies of the Company thatare in terms of IFRS and that are consistent with theaccounting policies of the previous annual financialstatements. These results were prepared under the supervisionof the Group CFO, Mr WE Scott CA(SA). 4. ConinghamLee contingent considerationAt the date of acquisition, based on the projected profits forConinghamLee, an accrual for the full expected additionalconsideration payable in November 2015 was raised.Unfortunately the performance of ConinghamLee’s mining andengineering desks during the last few months was negativelyimpacted by the pressure on commodity prices and cost cuttingmeasures implemented by their clients, which directly impactedthe expected profits during the performance guaranteed period.A portion of the contingent consideration was thereforere-measured during the interim period. The declining resultsare an indicator of impairment of goodwill and managementperformed a detailed impairment test which did not result inan impairment. 5. Ordinary shares5.1 Treasury sharesTreasury shares relate to the purchase of shares by the CSGShare entive Trust (“Trust”) to fulfil its obligation interms of share option schemes. 5.2 Ordinary shares issuedDuring July 2015 1 312 502 shares were issued topredetermined participants resulting from an exercise ofoptions pursuant to a specific issue of options by CSG. 6. Dividend paymentA dividend of 4,48 cents per share was declared to theshareholders for the period ended 31 March 2015 on1 June 2015. 7. Capital commitments and contingenciesThe Group had no significant outstanding capitalcommitments or contingencies as at 30 September 2015. 8. Sale of 35% interest in Umdeni Maintenance and AfricaSunOn 1 April 2015, 35% of the equity interest of both UmdeniMaintenance Services Proprietary Limited and Africa SunProcurement Proprietary Limited was sold to the CSG BlackWomen Trust in terms of a sale of shares agreement. The salehas not resulted in a loss of control. The full 35% of netasset value has been accounted for as a sale in retainedearnings. 9. Events after the reporting periodThe directors are not aware of any material events, otherthan events noted below, which occurred after the reportingdate and up to the date of this report. 9.1 Additional 38,1% interest acquired in UkwezaAs communicated to shareholders in the SENS announcementdated 1 September 2015, shareholders were informed thatThyme 2 Proprietary Limited and Mr Gary Davis had accepted anoffer from CSG to acquire their respective shareholdings inUkweza. CSG had a 61,9% interest in Ukweza while Ukweza had a55% interest in Phakamani Solutions Proprietary Limited(“Phakamani”) and a 25,5% interest in SSS. CSG held a further74,5% direct interest in SSS. Following the acquisition, CSGnow holds 100% of Ukweza, 100% of SSS and 55% of Phakamani.The purchase consideration payable by CSG in terms of theacquisition was an initial amount of R7 million (“initialamount”), which may be increased by a maximum amount ofR33 million (“performance guarantee amount”) based on thefinancial performance of Ukweza for the year ending31 March 2016. Payment of the initial amount was made on1 October 2015, which was also the effective dateof the transaction. The performance guarantee amount will besettled through the issue of CSG shares. The shares will beissued at a volume weighted average price (“VWAP”) of CSG forthe 30 business days after the effective date. The new CSGshares will be issued ex any dividend declared by CSG for theyear ending 31 March 2016. As control already existed at dateof acquisition the transaction for the additional 38,1% interestis not accounted for as a business combination in terms of IFRS3 and the excess above Ukweza’s additional net asset value willbe accounted for against retained earnings. 9.2 AfriboomAs communicated to shareholders in the SENS announcement dated7 September 2015, the Company had entered into a sale of sharesagreement with Pietervan der Westhuizen, sole shareholder ofAfriboom. In terms of the agreement, CSG acquired 100% of theissued ordinary share capital of Afriboom on 1 October 2015.The effective date for the transaction was 1 October 2015. Thepurchase consideration payable by CSG in terms of theacquisition was an initial amount of R5 million (“initialamount”), which may be increased by a maximum amount ofR30 million (“performance guarantee amount”) based on thefinancial performance of Afriboom for the 12-month periodimmediately following the effective date of the acquisition(“performance guarantee period”). Payment of the initial amountwas made on 21 October 2015.30% of the performance guarantee amount will be settled throughthe issue of CSG shares. The shares will be issued at a VWAP ofCSG for the 30 business days prior to the effective date. Theremaining 70% will be settled in cash on the same day that theshares are issued. The transaction will be accounted for interms of IFRS 3 – Business Combinations and a full purchaseprice allocation will be performed within twelve months asallowed by this standard. The information provided below isbased on provisional results of Afriboom as at30 September 2015. Recognised amounts of identifiable net assets30 Sept Year endedAt 30 September 2015 R’000Non-current assets 4 004Property, plant and equipment 3 333Deferred tax assets 671Current assets 7 173Loans to related parties 162Trade and other receivables 4 582Inventories 262Bank and cash 2 168Non-current liabilities 881Finance lease liabilities 881Current liabilities 8 998Taxation payable 70Trade and other payables 8 928Identifiable net assets 1 298Cash flow informationBank balance acquired 2 168 The profits and net asset value attributable to Afriboom wasset out in detail in the SENS announcement dated7 September 2015. 9.3 Hi-Tech Laeveld, Hi-Tech Nelspruit and Hi-Tech White RiverAs detailed in the SENS announcement dated 4 November 2015,CSG made the following acquisitions:– CSG, through its wholly owned subsidiary Global ResourcesEducation Proprietary Limited (“GRE”), had entered into anagreement with Hi-Tech Sekuriteit Laeveld Proprietary Limited(“Hi-Tech Laeveld”), in terms of which GRE had acquired thefranchising security business owned, managed and operated byHi-Tech as a going concern. The acquisition includes thepurchase of all franchise contracts togetherwith the operating contracts and ICASA licences, suppliercontracts, debtors, goodwill, intellectual property and stockused in the conduct of the business (“Laeveld acquisition”);– CSG had entered into an agreement with The Future KerswillTrust(represented by Mr JR Kerswill), in terms of which CSGhas acquired a 100% interest in the issued share capital ofHi-Tech Nelspruit Proprietary Limited (“Nelspruit acquisition”);and– CSG had entered into an agreement with Mr JR Kerswill andMr JP Kerswill in terms of which CSG has acquired a 100%interest in the issued share capital of White River Hi-TechSecurity Proprietary Limited (“White River acquisition”). TheWhite River monitoring business, including contracts, customersand related assets of the White River franchisee of Hi-TechLaeveld, was transferred to White River Hi-Tech Security priorto the effective date.The effective date for the transactionswas 1 November 2015.The purchase consideration payable by CSG interms of the acquisitions was an initial amount payable in cash(“initial amount”), which may be increased by a maximum amount(“performance guarantee amount”) based on the financialperformance of the companies over a certain period of time(“performance guarantee period”), set out in more detail below: Laeveld acquisitionThe total consideration for the Laeveld acquisition isR52,5 million, to be settled in cash as follows: R5 millionalreadypaid on 5 November 2015; R37,5 million to be paid 21 calendardays after the effective date; and R10 million to be paid into atrust account 21 calendar days after the effective date and paidto the sellers upon confirmation that, inter alia, the operatingcontracts and licences have been transferred to CSG. Nelspruit acquisitionR26,6 million to be paid in four tranches of varying amounts,with the first R5 million already paid on 4 November 2015, andthe final tranche being paid on or before 10 December 2015. Theperformance guarantee amount will be based on the financialperformance of Hi-Tech Nelspruit for the 12 months immediatelyfollowing theeffective date (at a price earnings multiple of four times),which amount will be payable within seven days on thefinalisation and acceptance by both parties of the managementaccounts relating to that period. The maximum consideration forthe Nelspruit acquisition will be R55 million. White River acquisitionR200 000 to be paid directly to the White River franchisee asand whenthis amount becomes due in terms of a separate agreement.The performance guarantee amount will be based on the financialperformance of Hi-Tech White River for months 13 to 24 after theeffective date (at a price earnings multiple of four times). 50%of the final amount will be settled in cash by no later than31 December 2017 and the remaining 50% will be settled throughthe issue of CSG shares. The shares will be issued within 60 daysof the finalisation and acceptance by both parties of themanagement accounts relating to that period at the VWAP of CSG forthe 30 business days prior to the last day of the 24th month afterthe effective date. The maximum consideration for the White Riveracquisition will be R25 million. All subsequent payments will befunded using a medium-term funding facility with Nedbank bearinginterest at prime rate and repayable over five years.The transaction will be accounted for in terms of IFRS 3 –Business Combinations and a full purchase price allocation will beperformed within 12 months as allowed by this standard.Due to the fact that the release of the interim results is soclose to the effective date, it is not possible to make therequired IFRS 3 disclosures as the initial accounting is stillincomplete. Profits and net asset value attributable to Hi-Techwas set out in detail in the SENS announcement dated4 November 2015. 10. Going concernThe financial information has been prepared on a going concernbasis. For and on behalf of the boardBT Ngcuka (Chairman)PJJ Dry (Chief executive) Wednesday, 25 November 2015DirectorsBT Ngcuka* (Chairman); PJJ Dry (CEO); JG Nieuwoudt (COO);WE Scott (CFO); NG Thiart; NN Sonjani*#; PN de Waal*; M Mokoka*#(* non-executive) (# independent) Secretary and registered officeMN Hattingh, 6 Topaz Street, Lyttelton Manor, Centurion, 0157 Transfer SecretariesLink Market Services South Africa Proprietary Limited,13th Floor,Rennie House, 19 Ameshoff Street, Braamfontein(PO Box 4844, Johannesburg, 2001) Designated AdvisorSasfin Capital (a division of Sasfin Bank Limited) Date: 25112015 07:05:00 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 ofthe 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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SUN 310-813 how elves around here Anna is clearly not believe it. That s 310-813 because a vase at the shrine yesterday I found the side of the cemetery, after back there on the porch, and today do not care to throw up. Really Anna glanced at the crowd ...Article by ArticleForgeNew Products
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