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FINANCIAL OVERVIEW
Independent reporting accountants’ report on the 2016
pro forma financial information
The Directors
Bid Corporation Limited
2nd Floor, North Wing
90 Rivonia Road
Sandton
2196
23 August 2016
Reporting accountant’s report on the compilation of the pro forma financial information of Bid Corporation Limited
(Bidcorp Group or the group)
We have completed our assurance engagement to report on the compilation of the pro forma earnings and diluted earnings, headline and diluted
headline earnings, net asset value and net tangible asset value per share of the Bidcorp Group, pro forma statement of financial position of the
Bidcorp Group, the pro forma statement of comprehensive income of the Bidcorp Group and the related notes, including a reconciliation showing
all of the pro forma adjustments to the share capital, reserves and other equity items relating to the Bidcorp Group (collectively pro forma financial
information).
The pro forma financial information has been compiled by the directors of Bidcorp Group to illustrate the impact of the internal restructuring and
listing on the Bidcorp Group financial position as at June 30 2016 and the Bidcorp Group financial performance for the year ended June 30 2016.
As part of this process, the earnings, diluted earnings, headline earnings and diluted headline earnings, net asset value and net tangible asset value
per share, statement of comprehensive income and statement of financial position of the group prior to the internal restructuring have been extracted
by the directors from the audited financial information as disclosed in the consolidated financial statements of the Bidcorp Group prior to the internal
restructuring (financial information).
Directors’ responsibility for the pro forma financial information
The directors of the Bidcorp Group are responsible for compiling the pro forma financial information on the basis of the applicable criteria as
detailed in paragraphs 8.15 to 8.33 of the Listings Requirements and the SAICA Guide on Pro forma Financial Information, revised and issued in
September 2014 (applicable criteria).
Reporting accountants’ responsibility
Our responsibility is to express an opinion about whether the pro forma financial information has been compiled, in all material respects, by the
directors of Bidcorp Group on the basis of the applicable criteria, based on our procedures performed.
We conducted our engagement in accordance with International Standard on Assurance Engagements (ISAE) 3420, Assurance Engagements
to Report on the Compilation of Pro Forma financial information Included in a Prospectus, issued by the International Auditing and Assurance
Standards Board. This standard requires that the reporting accountants’ comply with ethical requirements and plan and perform procedures to
obtain reasonable assurance about whether the directors of the Bidcorp Group have compiled, in all material respects, the pro forma financial
information on the basis of the applicable criteria.
For purposes of this engagement, we are not responsible for updating or reissuing any reports or opinions on any Historical Financial Information
used in compiling the pro forma financial information, nor have we, in the course of this engagement, performed an audit of the financial information
used in compiling the pro forma financial information.
The purpose of pro forma financial information is solely to illustrate the impact of the internal restructuring and listing on the unadjusted financial
information as if the internal restructuring and listing had been undertaken on July 1 2015 for purposes of the pro forma earnings, diluted earnings,
headline and diluted headline earnings per share and the pro forma statement of comprehensive income and on June 30 2016 for purposes of
the net asset value and net tangible asset value per share and statement of financial position. Accordingly, we do not provide any assurance that
the actual outcome of the internal restructuring and listing, subsequent to their implementation, will be as presented in the pro forma financial
information.
Annexure B – pro forma information
FINANCIAL STAT MENTS
Annual integrated report 2017
Bid Corporation Limited
148