Business
Correction of Note 17 in Annual Results
Correction of Note 17 in Annual Results.
About this update from Grit Real Estate Income Group Limited
[{"type":"text","content":"\n \nRNS Number : 9449P Grit Real Estate Income Group 15 October 2019 \n\nGRIT REAL ESTATE INCOME GROUP LIMITED\n(Registered by continuation in the Republic of Mauritius)\n(Registration number: C128881 C1/GBL) \nLSE share code: GR1T\nSEM share code: DEL.N0000\nJSE share code: GTR\nISIN: MU0473N00036\n(\"Grit\" or the \"Company\")\n \n\n \n\n\nCORRECTION OF NOTE 17 IN THE RESULTS FOR THE YEAR ENDED 30 JUNE 2019\n \n\n \nShareholders are referred to the results announcement for the year ended 30 June 2019 as published by the Company on 30 September 2019 (\"Results\") and are advised that Note 17, Reconciliation of basic and headline earnings, contained a restatement relating to the 30 June 2018 headline earnings that was not disclosed as such.\n \nAccordingly, shareholders are advised that Note 17 of the Results has been corrected to reflect the restatement as set out below. All other details in the Results announcement remain unchanged.\n \n17. Reconciliation of basic and headline earnings\n\n\n\n\n \n\n\n\n30 June 2019\n\n\nRestated\n 30 June 2018\n\n\n\n\nUS$'000\n\n\nUS$'000\n\n\n\n\nBasic earnings\n\n\n28,035\n\n\n28,562\n\n\n\n\nFair value adjustments on investment property\n\n\n(21,363)\n\n\n(13,762)\n\n\n\n\nDeferred taxation on investment property revaluation\n\n\n22,349\n\n\n5,979\n\n\n\n\nFair value adjustment on other investments\n\n\n795\n\n\n757\n\n\n\n\nFair value adjustment on other financial asset\n\n\n516\n\n\n128\n\n\n\n\nFair value adjustment on derivative financial instruments\n\n\n6\n\n\n(25)\n\n\n\n\nShare of fair value adjustment on investment property accounted by associate\n\n\n(6,921)\n\n\n(8,858)\n\n\n\n\nHeadline earnings attributable to shareholders\n\n\n23,417\n\n\n12,781\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nWeighted average number of shares1\n\n\n289,612,780\n\n\n201,200,481\n\n\n\n\nEarnings per share\n\n...