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Samroc Annual Report 2008

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30 Jun 2008

Samroc is listed on the Venture Capital sector of the JSE Limited ("JSE"). The company has seen significant changes during the past twelve months to its capital structure, its major shareholders and its board of directors.

Capital Restructure

During December 2007 the company consolidated and converted its issued share capital of 374 274 923 ordinary shares of 1 cent each on a 1-for-10 basis into 37 427 492 ordinary shares of no par value. During the period under review, the company had two issues of shares for cash raising a total of R54,15 million. The purpose of the issues was to settle the company's long-term liabilities and to raise capital for the evaluation of new acquisitions by the company and to facilitate the recruitment of a new management team.