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Change Statement, Audited Annual Financial Statements 2024, IAR, Notice of AGM, B-BBEE Report
Acsion Limited
Incorporated in the Republic of South Africa
(Registration number 2014/182931/06)
Share code: ACS ISIN: ZAE000198289
("Acsion" or "the Company")
CHANGE STATEMENT, AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED
29 FEBRUARY 2024, DISTRIBUTION OF INTEGRATED ANNUAL REPORT, NOTICE OF ANNUAL
GENERAL MEETING AND AVAILABILITY OF B-BBEE ANNUAL COMPLIANCE REPORT
Change Statement
Shareholders are advised that the integrated annual report for the year ended 29 February 2024 ("Integrated
Report"), incorporating the audited consolidated annual financial statements for the year ended 29 February
2024 ("2024 AFS"), was distributed to shareholders today, 30 August 2024, and is also available on the
Company's website at: https:// https://www.acsionsa.co.za/investor.
The 2024 AFS have been audited by the Company's external auditor, BDO South Africa Incorporated, who
expressed an unmodified opinion thereon. In accordance with its responsibilities in terms of sections 44(2)
and 44(3) of the Auditing Profession Act, the auditor reported that a reportable irregularity was identified and
reported to the Independent Regulatory Board for Auditors. The matter pertaining to the reportable irregularity
relates to the Company not having released the condensed financial statements within three months after
the financial year end, as well as not having released the consolidated and separate financial statements
within four months after the financial year end as required in terms of paragraphs 3.15 and 3.16 of the JSE
Listings Requirements.
The audit opinion, included in the 2024 AFS, is available on the Company's website at:
https://https://www.acsionsa.co.za/investor and on the JSE's cloudlink at:
https://senspdf.jse.co.za/documents/2024/jse/isse/ACSE/IAR24.pdf
Save as set out below, the Integrated Report contains no modifications to the reviewed financial results for
the year ended 29 February 2024 published on SENS on 12 July 2024 ("Reviewed Results").
As set out in the Reviewed Results, deferred tax assets and deferred tax liabilities were erroneously reflected
on a gross basis as R46,016,000 and R2,080,388,000 and have been reclassified in the Integrated Report
to deferred tax assets of R247,000 and deferred tax liabilities of R2,034,619,000. The correction has resulted
in a decrease in total deferred tax assets of R45,769,000 and a corresponding decrease in the deferred tax
liabilities of R45,769,000. The total assets and total liabilities in the segmental analysis in note 37 to the
annual financial statements have been restated by the same amounts.
As set out in the Reviewed Results, the operating lease asset was erroneously reflected as a non-current
asset of R192,776, whereas there is a non-current and a current portion. Accordingly, the current operating
lease asset has now been increased by R26,573 and the non-current operating lease asset has been
decreased by R26,573 in the Integrated Report.
There have been no changes to the statement of comprehensive income, statement of changes in equity
and statement of cash flows. Likewise, there have been no changes in net asset value, net asset value per
share, tangible net asset value per share, profit for the year, basic and diluted earnings per share and
headline and diluted headline earnings per share, when comparing the Integrated Report from the Reviewed
Results.
Shareholders are referred to the announcement released on SENS on 25 July 2024 wherein it was advised
that headline earnings per share were erroneously reflected as 98 cents per share in the Reviewed Results
released on SENS on 12 July 2024 instead of 107 cents per share.
Notice of Annual General Meeting
Notice is hereby given that the annual general meeting of shareholders of Acsion ("Annual General
Meeting") will be held at @Sandton Hotel, 5 Benmore Rd, Benmore Gardens, Johannesburg, 2196 on
Monday, 7 October 2024 at 10:00 to consider and, if deemed fit, to pass with or without modification, the
business stated in the notice of Annual General Meeting ("Notice of Annual General Meeting"), which is
contained in the Annual Report.
The salient information pertaining to the Annual General Meeting is set out below:
Issuer name Acsion Limited
Type of instrument Ordinary shares
ISIN number ZAE000198289
JSE code ACS
Meeting type Annual General Meeting
Meeting venue @Sandton Hotel,
5 Benmore Rd, Benmore Gardens,
Johannesburg, 2196
Record date – to determine which shareholders are entitled to
receive the Notice of Annual General Meeting Friday, 23 August 2024
Publication/Posting Date Friday, 30 August 2024
Last day to trade – last day to trade to determine eligible
shareholders that may attend, speak and vote at the Annual
General Meeting Monday, 23 September 2024
Record date – record date to determine eligible shareholders
that may attend, speak and vote at the Annual General
Meeting Friday, 27 September 2024
Meeting deadline date – (for administrative purposes), forms of
proxy for the Annual General Meeting to be lodged 10:00 on Friday, 4 October 2024
Annual General Meeting date 10:00 on Monday, 7 October 2024
Publication of results of Annual General Meeting Tuesday, 8 October 2024
Website link www.acsionsa.co.za
Results Announcement
This results announcement is the responsibility of the directors of Acsion. This results announcement does
not include full or complete details of the 2024 AFS. Any investment decision should be based on the 2024
AFS as a whole. None of the information in this announcement has been reviewed or reported on by Acsion's
auditors.
Availability of B-BBEE Annual Compliance Report
Shareholders are further advised that the Company's annual compliance report in terms of Section 13G(2)
of the Broad-Based Black Economic Empowerment Amendment Act No. 46 of 2013, is available on the
Company's website, www.acsionsa.co.za.
Johannesburg
30 August 2024
Sponsor
Merchantec Capital
Date: 30-08-2024 05:29:00
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