Financial Services Authority (FSA ) regulated, License No SD003

Annoucements

SACOS Group Ltd

Incorporated in the Republic of the Seychelles

Registration Number 820521-1

ISIN Number: SCI 31 1 OOI 004

Trop-X Share Code: SAC

("SACOS" or "the Company")

 

Market Announcement

The company would like to announce the appointment of Mr Bernard Adonis as a nonexecutive director effective 25th September 2017.

Please contact the Sponsor Advisor if you need any clarity in this regard.

 

Eden Island

Seychelles

27 September 201 7

Sponsor Advisor

Constant Capital (Seychelles) Ltd info@constant.sc

SACOS Group Ltd

Incorporated in the Republic of the Seychelles Registration Number 820521-1

ISIN Number: SC1311001004

Trop-X Share Code: SAC ("SACOS" or "the Company")

 

Market Announcement

 

Shareholders are advised that the preparation of the company's 2016 audited financial accounts will be delayed beyond the 30th September as per the public announcement of 14th September. Consequently, the publication of the half yearly interim accounts will also be delayed.

Please contact the Sponsor Advisor if you need any clarity in this regard.

Eden Island

Seychelles

26 September 2017

 

Sponsor Advisor

Constant Capital (Seychelles) Ltd info@constant.sc

SACOS Group Ltd

Incorporated in the Republic of the Seychelles Registration Number 820521-1

ISIN Number: SC1311001004

Trop-X Share Code: SAC ("SACOS" or "the Company")

 

Market Announcement

The board believes that full disclosure and transparency of the financial performance of Sacos is crucial for the investing public and the need to ensure that it satisfies all of Trop-X's listing requirements. Consequently, it is has deemed it necessary to make the following disclosures:

The preparation of the Annual Financial Statements is ongoing, and as per the public announcement of 1st September 2017, are now expected to be completed by the 30th September 2017. A number of factors have contributed to the delay, but the most significant being that the company has initiated an internal restructuring program in preparation for the amalgamation of its businesses in order to improve efficiencies and performance. This process was as approved by shareholders, and publicized on the 27th April 2017. The restructuring process has involved substantial additional work for the finance team of Sacos and ultimately for its new Auditors.

The board’s primary objective in this exercise is to ensure that the financial statements are fully compliant with the international best practice reporting standard as set out by International Financial Reporting Standards (IFRS). Compliance with IFRS has necessitated a number of adjustments to not only the presentation of these statements, but also the fundamental assumptions that form the basis of the numbers.

Consequently, we have undertaken a comprehensive re-evaluation of all Sacos' assets, including the company's property portfolio, including those held by its subsidiaries, to bring it in line with IFRS principles. This process has meant that the book value of certain properties have been adjusted, and in certain cases the values have been adjusted downwards. The board believes these adjustments will better reflect the true position of the company, but it will not negatively impact on the long term financial performance of the Sacos Group.

Owing to the decrease in the book value of the property assets in Sacos Group's wholly owned subsidiary, Sacos Life Assurance Company Ltd, the Life business will be in a position where from an actuarial valuation perspective looking at its long term liabilities exceeds its assets, impacting the solvency of the business. The underlying business remains sound and is expected to recover from this shortfall within 3 years.

In order to address this short term deficit, caused by this adjustment in property valuation, Sacos has discussed with the FSA on the 6th September, and received the latter’s support of its remediation plan. The main element of the remediation, given the robustness of the underlying business, involves the sale, by the Sacos Life Assurance Company, of preference shares to Sacos Group. It is expected that this sale could be in excess of 10% of the value of the Group.

.The Board is enforcing a closed period for affected Sacos staff, which prohibits them from trading in Sacos shares until the audited financial statements are published.

The Board will continue to keep its shareholders and general public updated in this matter

Please contact the Sponsor Advisor if you need any clarity in this regard.

 

Eden Island Seychelles

08 September 2017

 

Sponsor Advisor

Constant Capital (Seychelles) Ltd info@constant.sc

CCCS Communique to the Subscribers

14th September 2017

 

The allocation of the shares was effected as per the Shareholding Structure elaborated in the Prospectus released to the public on the 26th June 2017.

Based on a total equity of 12M USD through the offering of 12,000 shares at 1,000 USD, the subscription received and allocated by CCCS Steering Committee is as follow:

 

 

2017-09-14 CCCS Communique to Subscriber 3

SACOS Group Ltd

Incorporated in the Republic of the Seychelles

Registration Number 820521-1

ISIN Number: SC1311001004

Trop-X Share Code: SAC

("SACOS" or "the Company")

 

 

 

Market Announcement

 

Shareholders are advised that the preparation of the company’s 2016 audited financial accounts has been further delayed. The company has new auditors who have been applying a much higher disclosure standard in accordance with their interpretation of IFRS. Henceforth, the company is being required to consolidate the Life accounts with the Group accounts on a line by line basis contrary to the prior practice of consolidating on a one line basis in both the Balance Sheet and Income Statement. Consequently, this has necessitated additional work for the company which is further delaying the preparation of the audited financial statements.

The company expects to publish the audited accounts by the end of September 2017. This will affect the timing of the annual general meeting.

Please contact the Sponsor Advisor if you need any clarity in this regard.

 

Eden Island

Seychelles

01 September 2017

 

Sponsor

Constant Capital (Seychelles) Ltd info@constant.sc

 

BODCO announced their interim results this week.

The results show a dramatic improvement in the profitability of the business over last year’s performance, and cash flow has increased favourable. If this trend in maintained, then BODCO will show a solid performance in their 51st year of business.

Interim accounts bodco june 2017

Following the Public Presentation of the CCCS Project on May 17th 2017 at STC

conference room, the CCCS share offering prospectus has been submitted to the

Financial Service Authority (FSA) for assessment as per the requirement of Securities

Act 2007 and the Securities (Prospectus) Regulations 2008.

The prospectus has been approved for release to the Public as today June 26th.

Interested Investors are invited to submit a Request for CCCS Share Documentation by

email or collect hard copies of the documentation from:

Constant Capital

1st Floor, F29 Eden Plaza, Eden Island, Mahé, Seychelles

Office: +248 434 5447

Email: sales@constant.sc

 

The CCCS Share Documentation include the following and can be downloaded below by pdf.

1. CCCS Offering Prospectus 26th June 2017

2. Individual Request

3. Entity Request

The below are available for collection from the office

5.CCCS Articles of Association

6. Audited FS 2015

7. Audited FS 2016

8. Consent of Auditors

Allocation forms must be returned by email to sales@constant.sc or the offices of

Constant Capital (F29 Eden Plaza, Eden Island, Mahé, Seychelles) by 17h00 Wednesday

12th July 2017.

Share Allotment will be done by the CCCS Steering Committee on July 13-14th 2017.

Following this, any successful applicants will be notified. Closing date for payment of

shares allotment will be July 26th or any subsequent date that may be officially

communicated in case of delay of completion of obtaining the conditions precedent

CCCS Offering Prospectus 26th June 2017
Individual Request for allocation
Entity Request for allocation

Publication of Seychelles Breweries Limited’s Interim Financial report for the half year ended 31st December 2016.

SBL 31 dec 2016 interims

SEYCHELLES BREWERIES LTD

In terms of the Trop-X Limited Listings Requirements, companies are required to provide guidance to the market when they are satisfied that a reasonable degree of certainty exists that the financial results for the current reporting period will differ significantly from the results of the previous corresponding reporting period.

SBL Trading Statement 3 Nov 2016

SACOS GROUP LIMITED 

RESIGNATION OF BASIL HOAREAU, NON-EXECUTIVE DIRECTOR

SACOS Basil Hoareau Resignation Announcement

SEA HARVEST INVESTMENT PLC

INTERIM FINANCIAL STATEMENTS AS OF 30th SEPTEMBER 2016.

SHI Interim AFS end-Sep 2016

SACOS GROUP LIMITED

BALANCE SHEET AS AT 30TH SEPTEMBER 2013

SACOS_Balance_Sheet_nov13

SACOS GROUP LIMITED

INTERIM CASH FLOW STATEMENT FOR THE MONTH ENDED 30 SEPTEMBER 2013

SACOS_Cashflow_statement_nov13

SACOS Group Limited
Statement of changes in equity as at 30th September 2013

SACOS_Change_statement_nov13

 

Prepared by Constant Capital (Seychelles) Limited, and issued in terms of the Listings Requirements of Trop-X relating to the listing of all the issued ordinary shares of SACOS on Trop-X.

SACOS

SACOS GROUP LIMITED 

 

Intern Income Statement for the nine (9) months ended 30 September 2013.

SACOS_Income_statement_nov13

 

Prepared by Constant Capital (Seychelles) Limited, and issued in terms of the Listings Requirements of Trop-X relating to the listing of all the issued Ordinary Shares of BODCO on Trop-X.

Bodco_Final1