Interim Results
August 01 2000 - 3:00AM
UK Regulatory
RNS Number:7577O
Griqualand West Diamond Mng Co Ld
1 August 2000
GRIQUALAND WEST DIAMOND MINING COMPANY DUTOITSPAN MINE LIMITED
(Incorporated in the Republic of South Africa)
(Company Registration No. 11/00013/06)
INTERIM REPORT FOR THE HALF-YEAR ENDED 30 JUNE 2000
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INCOME STATEMENT
For the half-year ended 30 June 2000
Abridged and unaudited
Half-year Year
June Dec
2000 1999 1999
R R R
Amount received from holding
company in terms of working
agreement 42 280 42 280 84 560
Dividend and interest income 2 506 3 110 5 704
---------------------------
44 786 45 390 90 264
Deduct:
Expenses 600 600 3 700
Net income before taxation 44 186 44 790 86 564
Deduct:
Taxation 15 877 16 058 31 284
----------------------------
Attributable earnings 28 309 28 732 55 280
============================
Number of shares in issue 105 700 105 700 105 700
Earnings per share 26,8c 27,2c 52,3c
Dividends per share
Interim 20,5c 20,5c 20,5c
Final - - 21,0c
----------------------------
20,5c 20,5c 41,5c
============================
Dividends payable R21 669 R21 669 R43 865
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BALANCE SHEET
30 June 2000
Abridged and unaudited
Half-year Year
June Dec
2000 1999 1999
R R R
Capital employed
Share capital
105 700 shares of R20 each 2 114 000 2 114 000 2 114 000
Distributable reserves 40 421 29 429 33 781
-------------------------------
2 154 421 2 143 429 2 147 781
===============================
Represented by
Fixed assets 2 111 722 2 111 722 2 111 722
Listed investment in holding
company 2 448 2 448 2 448
Net current assets 40 251 29 259 33 611
-------------------------------
Current assets 92 126 80 513 85 051
-------------------------------
Amount due by holding company 80 083 69 364 73 390
Cash 12 043 11 149 11 661
-------------------------------
Current liabilities 51 875 51 254 51 440
-------------------------------
Shareholders for unpaid and
unclaimed dividends 39 039 38 145 39 185
Creditors 9 932 9 732 9 540
Tax 2 904 3 377 2 715
-------------------------------
2 154 421 2 143 429 2 147 781
===============================
Market value of listed
investment 7 038 7 650 7 038
The Company holds the right to mine the Dutoitspan diamond mine which it
leases to De Beers Consolidated Mines Limited, in terms of an agreement dated
30 August 1889, for an annual consideration of R84 560 and it is anticipated
that the results for the second half of the year will be approximately the
same as for the first half.
For and on behalf of the board
N.F. OPPENHEIMER
G.M. RALFE
Directors
31 July 2000
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 4210/4230
London Secretary
J.C. Greensmith
17 Charterhouse Street, London EC1N 6RA, England
Telephone: +44 (0) 20 7404 4444
Facsimile: +44 (0) 20 7430 3570
United Kingdom Registrar
Computershare 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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