AS AT 30 JUNE 2013
Notes As at As at
30 June 30 June
2013 2012
--------- ---------
USD USD
ASSETS
Financial assets at fair value
through profit or loss 5(a) 51,038,216 38,216,419
Trade and other receivables 6 1,160,571 1,157,142
Cash and cash equivalents 3,031,033 4,960,190
----------- -----------
Total assets 55,229,820 44,333,751
=========== ===========
EQUITY AND LIABILITIES
Liabilities
Financial liabilities at fair value
through profit or loss 5(b) 5,479,421 5,358,713
Trade and other payables 8 1,520,732 209,931
Total liabilities 7,000,153 5,568,644
----------- -----------
Equity
Share capital 7 426,303 426,303
Share premium 38,092,003 38,484,202
Retained earnings/(losses) 9,352,924 (415,563)
----------- -----------
Equity attributable to equity holders
of the parent 47,871,230 38,494,942
Non-controlling interest 358,437 270,165
Total equity 48,229,667 38,765,107
----------- -----------
Total equity and liabilities 55,229,820 44,333,751
=========== ===========
AFRICA OPPORTUNITY FUND LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 JANUARY 2013 THROUGH 30 JUNE 2013
ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT
Issued Share Retained Non controlling Total
capital premium profit Total interest equity
-------- ----------- ------------ ------------ ---------------- ------------
Notes USD USD USD USD USD USD
At 01 January 2012 426,303 38,705,880 675,220 39,807,403 273,007 40,080,410
Total Comprehensive
income for the period - - 1,692,704 1,692,704 20,652 1,713,356
Other comprehensive
income - - - - - -
Dividend - (443,355) - (443,355) - (443,355)
At 31 December 2012 426,303 38,262,525 2,367,924 41,056,752 293,659 41,350,411
Total comprehensive
income for the period 6,985,000 6,985,000 64,778 7,049,778
Dividend (170,522) (170,522) (170,522)
At 30 June 2013 426,303 38,092,003 9,352,924 47,871,230 358,437 48,229,667
======== =========== ============ ============ ================ ============
AFRICA OPPORTUNITY FUND LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD 1 JANUARY 2013 THROUGH 30 JUNE 2013
Notes For the Period For the Period
Ended 30 Ended 30
June 2013 June 2012
--------------- ---------------
USD USD
Cash flows from operating activities
Comprehensive income/ (loss) for the
period 7,049,777 (1,093,625)
Adjustment for:
Interest income (337,420) (235,302)
Dividend income (932,097) (1,885,893)
(Gain)/ loss on financial assets at
fair value through profit or loss (7,391,461) 1,805,228
(Gain)/ loss on financial liabilities
at fair value through profit or loss (246,236) 442,561
Operating losses before working capital
changes (1,857,437) (967,032)
Increase in other receivables and
prepayments (54,077) (138,256)
Decrease in other payables and accrued
expenses 1,023,984 (54,673)
-------------- -------------
Net cash used in operating activities (887,530) (1,159,960)
-------------- -------------
Purchase of financial assets at fair
value through profit or loss 5(a) (16,106,663) (5,093,528)
Disposal of financial assets at fair
value through profit or loss 5(a) 14,619,208 7,521,595
Purchase of financial liabilities
at fair value through profit or loss 5(b) (2,304,319) -
Disposal of financial liabilities
at fair value through profit or loss 5(b) 3,484,092 1,503,412
Interest received 239,099 169,690
Dividend received 524,081 1,456,706
-------------
Net cash generated from investing
activities 455,498 5,557,875
-------------- -------------
Cash flows used in financing activities
Dividend paid (170,522) (221,678)
-------------
Net cash flow used in financing activities (170,522) (221,678)
-------------- -------------
Net (decrease)/ increase in cash and
cash equivalents (602,554) 4,176,237
Cash and cash equivalents at 1 January 3,633,587 783,953
-------------
Cash and cash equivalents at 30 June 3,031,033 4,960,190
============== =============
AFRICA OPPORTUNITY FUND LIMITED
CORPORATE INFORMATION
FOR THE PERIOD 1 JANUARY 2013 TO 30 JUNE 2013
Date of
appointment
DIRECTOR:
CHAIRMAN: : Robert Knapp 25 June 2007
NON EXECUTIVE DIRECTORS: : Francis Daniels 21 June 2007
Christopher Gradel 25 June 2007
Christopher Agar 25 June 2007
Shingayi Mutasa 25 June 2007
Myma Belo-Osagie 25 June 2007
REGISTERED OFFICE : PO Box 309 GT
Ugland House
South Church Street
George Town
Grand Cayman
Cayman Islands
REGISTRAR : Anson Registrars Limited
Anson Place, Mill Court
La Charroterie, St. Peter's
Port
Guernsey GY1 3WX
Channel Islands
NOMINATED ADVISER : Grant Thornton UK LLP
30 Finsbury Square
London EC2P 2YU
United Kingdom
CORPORATE BROKER : LCF Edmond de Rothschild Securities Limited
5 Upper St. Martin's
Lane
London WC2H 9EA
United Kingdom
AFRICA OPPORTUNITY FUND LIMITED
CORPORATE INFORMATION
FOR THE PERIOD 1 JANUARY 2013 TO 30 JUNE 2013
ADMINISTRATOR : International Proximity
Fifth Floor, Ebene Esplanade
24 Cybercity
Ebene
Mauritius
Africa Opportunity Partners
INVESTMENT MANAGER : Limited
PO Box 309 GT
Ugland House
South Church Street
George Town
Grand Cayman
Cayman Islands
AUDITORS : Ernst & Young
9(th) Floor, NeXTeracom Tower
I
Cybercity
Ebene
Mauritius
Credit Suisse Securities (USA)
PRIME BROKER: : LLC
Eleven Madison Avenue
3rd Floor
New York, NY 10010
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