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FINANCIAL OVERVIEW
2016 pro forma financial information of the Bidcorp Group
Basis of preparation
The pro forma financial information of the Bidcorp Group (pro forma financial information) has been prepared for illustrative purposes and reflects the
group as if the internal restructuring and listing occurred on July 1 2015.
The pro forma financial information of the Bidcorp Group has been prepared to illustrate the impact of the internal restructuring and listing of the
Bidcorp Group using the financial information of the Bidcorp Group and including the following pro forma adjustments:
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transfer out of the Bidcorp Group of EAS Zimbabwe Private Limited, EAS Zambia Limited and Bidvest Zambia Limited (the excluded assets);
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transfer into the Bidcorp Group of Bidvest Food Africa, Bidvest Food Properties and the Bidvest treasury shares (transferring assets);
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issue of 335,4 million new Bidcorp shares to Bidvest as settlement of the disposal consideration in respect of the transferring assets; and
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various costs, inter alia, head office costs and share-based payment adjustments.
The transfer out of the Bidcorp Group of the excluded assets and the transfer into the Bidcorp Group of the transferring assets collectively constitute
the internal restructuring which was undertaken prior to the listing and unbundling.
The pro forma adjustments in respect of the pro forma statement of comprehensive income and the pro forma statement of financial position set out
below relate to the following:
Column 2 – financial information relating to the excluded assets for the nine months ended up to March 31 2016;
Column 3 – adjustments relating to the weighted average number of shares (basic and diluted) of the issue of 335,4 million new Bidcorp shares to
Bidvest as settlement of the disposal consideration in respect of the transferring assets;
Column 4 – financial information relating to Bidvest Food Africa for the nine months ended up to March 31 2016;
Column 5 – financial information relating to Bidvest Food Properties and Bidcorp Corporate Services for the nine months ended up to
March 31 2016;
Column 6 – adjustments relating to the dilutionary effect as a result of the transfer to the Bidcorp Group of the Bidvest treasury shares;
Column 7 – consolidation entries relating to columns 2 to 6;
Column 8 – Bidcorp Group after the internal restructuring.
The pro forma financial information of the Bidcorp Group has been prepared using the accounting policies of the Bidcorp which comply with IFRS
and are consistent with those applied in the Bidcorp annual integrated report, set out in note 1 to the financial statements of Bidcorp.
The pro forma financial information of the Bidcorp Group is the responsibility of the directors.
Annexure B – pro forma information
FINANCIAL STAT MENTS
Annual integrated report 2017
Bid Corporation Limited
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