Appendix 4D
Half year report
Appendix 4D
For personal use only
Half year report
1.
Company Details
Name of Entity
Bisan Limited and Controlled Entities (Economic Entity)
ABN or equivalent company
reference
75 006 301 800
Half year ended (‘current period’)
Half year ended (‘previous period’)
31 December 2010
31 December 2009
2. Results for announcement to the market
Down
2.1 Revenues from continuing operations
2.2 Profit (loss) from continuing operations after tax
Down
attributable to members
2.3 Net profit (loss) for the period attributable to
Down
members
2.4 Dividends
Amount per security
Interim dividend declared
83% to
$A’000
4
44% to
(218)
44% to
(218)
Franked amount per security
N/A
N/A
2.5 Record date for determining entitlements to the dividend
N/A
2.6 Brief explanation of any of the figures in 2.1 to 2.4 above necessary to enable the figures to be understood
Revenue decreased from the previous period.
Net loss decreased from the previous period.
3. NTA Backing
31 December 2010
31 December 2009
Net tangible asset backing per ordinary security
1.89 ¢
4.48 ¢
Appendix 4D Page 1
Appendix 4D
Half year report
4.1 Control gained over entities
For personal use only
Name of entity (or group of entities)
Size Technologies Australia Pty Ltd
1st July 2008
Date control gained
Contribution of such entities to the reporting entity’s
profit/(loss) from ordinary activities during the period (where
($82,242)
material)
Profit(loss) from ordinary activities and extraordinary items
after tax of the controlled entity (or group of entities) for the
($82,242)
whole of the previous corresponding period
4.2 Loss of control over entities
Name of entity (or group of entities)
No entities have been gained or lost during the period
Date control lost
N/A
Contribution of such entities to the reporting entity’s
profit/(loss) from ordinary activities during the period (where
$N/A
material)
Consolidated profit/(loss) from ordinary activities of the
controlled entity (or group of entities) whilst controlled during
the whole of the previous corresponding period (where
material)
Appendix 4D Page 2
$N/A
Appendix 4D
Half year report
5. Dividends
For personal use only
Individual dividends per security
Interim dividend:
Date dividend
is payable
Amount per
security
Current year
N/A
NIL¢
Previous year
N/A
NIL¢
Franked
amount per
security at 30%
tax
Amount per
security of
foreign source
dividend
NIL¢
NIL¢
NIL¢
NIL¢
6. Dividend Reinvestment Plans
The dividend or distribution plans shown below are in operation.
N/A
The last date(s) for receipt of election notices
for the dividend or distribution plans
N/A
7. Details of associates and joint venture entities
Name of associate/joint venture
Reporting entity’s percentage holding
Contribution to Net profit/(loss) (where
material)
31 December
31 December
31 December
31 December
2010
2009
2010
2009
6.18 %
--
--
53%
(82)
(52)
(a)Eromanga Hydrocarbons Ltd
5.40%
(b) Size Technologies Australia Pty Ltd
53%
(a)
Ownership interest in Eromanga Hydrocarbons Ltd at that company’s balance date was 12,535,252 fully
paid ordinary shares representing 5.40% of the company’s issued capital (31 December 2009: 6.18%). The
dilution of this investment has resulted in Bisan no longer holding significant influence over the entity, and
therefore equity accounting has been discontinued. This investment is now accounted for as an available for sale
financial asset in accordance with AASB 139.
The associated body corporate, Eromanga Hydrocarbons Ltd holds 2,486,000 shares in Bisan Limited via a
controlled entity, 101-103 George Street East Melbourne Pty Ltd, representing 4.97% of the parent entity’s
issued capital.
Appendix 4D Page 3
Appendix 4D
Half year report
For personal use only
(b)
On 1st July 2008, the Company announced that it had executed a shareholders’ agreement with
Dr Len Breytenbach et al. that governs a newly created jointly controlled company, Size Technologies
Australia Pty Ltd (“STA”). Bisan Limited has a 53% interest in this entity. It is the intention of all
parties that STA will further develop and commercialize pelletizing and briquetting technologies for
coal and iron ore previously owned and developed by Dr Len Breytenbach, a resident of South Africa.
Further details are contained in the announcement to the market on 1st July 2008. This jointly controlled
entity is accounted for using the equity method
Group’s aggregate share of associates’ and joint
Current period
Previous corresponding
$A’000
period $A’000
(82)
(52)
--
--
(82)
(52)
--
--
(82)
(52)
--
--
(82)
(52)
venture entities’ profits/(losses) (where material):
Profit/(loss) from ordinary activities before tax
Income tax on ordinary activities
Profit/(loss) from ordinary activities after tax
Extraordinary items net of tax
Net profit/(loss)
Adjustments
Share of net profit/(loss) of associates and joint
venture entities
8. Foreign entities
For foreign entities, details of origin of accounting standards used in compiling the report (e.g. International etc.)
N/A
9. If the account are subject to audit dispute or qualification, details are described below
Sign here:
……………………….
(Director)
Print Name:
Michael Goldhirsch
Appendix 4D Page 4
Date:
28 February 2011
For personal use only
For personal use only