Scope and Boundaries

FOR THE YEAR ENDED 31 MARCH 2018

The Board is pleased to present Peregrine Holdings’ 2018 Integrated Annual Report (Integrated Report). This report presents the activities as well as the financial and non-financial performance of Peregrine Holdings Limited (Peregrine or Peregrine Holdings) and its subsidiaries (the Group or the Peregrine Group) for the period 01 April 2017 to 31 March 2018. The prior Integrated Report covered the period 01 April 2016 to 31 March 2017 and was dated 07 August 2017. Peregrine’s scope of reporting on its sustainability initiatives covers the operating business segments in South Africa, namely Wealth Management, Asset Management, Broking & Structuring, and Advisory for the year ended 31 March 2018.

Purpose of the report

The content included in this Integrated Report is intended to be useful to Peregrine’s stakeholders, and is considered to be of a nature which may influence their understanding of the Group and their decision-making. The content specifically aims to provide stakeholders, and other interested parties, with a consolidated review of the Group’s financial, environmental, social and governance initiatives to enable stakeholders to evaluate Peregrine’s ability to create and sustain value over the short, medium and long-term.

Frameworks and guidelines applied

This, Peregrine’s eighth, Integrated Report is prepared in accordance with International Financial Reporting Standards (IFRS), the requirements of the Companies Act of South Africa 71 of 2008 (Companies Act), and the JSE Listings Requirements. Peregrine has further applied the principles contained in the King IV, as encapsulated in the applicable regulations. The King IV principles have been applied and explained as outlined in the Corporate Governance section of this Integrated Report.

Assurance

Assurance of certain aspects of this Integrated Report is the responsibility of a combined financial and non-financial team from Deloitte & Touche. In addition to the financial statements audited by Deloitte & Touche whose unmodified opinion is included in this Integrated Report, the Value Added Statement was assured at a limited level, based on adopting International Standards for Assurance Engagements (ISAE) 3000. Deloitte & Touche’s unmodified assurance report on the Value Added Statement is available here.

Forward-looking statements

This Integrated Report contains unaudited forward-looking statements that, unless otherwise indicated, reflect the Group’s expectations as at 31 March 2018. Actual results may differ materially from the Group’s expectations, should any known and unknown risks or opportunities affecting its businesses, or if estimates or assumptions, prove inaccurate. The Group cannot guarantee that any forward-looking statements will materialise and accordingly readers are cautioned not to place undue reliance on any forward-looking statements. The Group disclaims any intention and assumes no responsibility or obligation to update or revise any forward-looking statements, even if new information becomes available as a result of future events or for any other reason, other than as is required by the JSE Listings Requirements.

Statement of responsibility

The Audit Committee acknowledges its responsibility, on behalf of the Board, to ensure the integrity of this Integrated Report. The Audit Committee has accordingly applied its mind to the report and believes that it appropriately and sufficiently addresses all material issues, and fairly presents the integrated performance of Peregrine and its subsidiaries for the year ended 31 March 2018, within the scope and boundaries mentioned in the preceding paragraphs. The Audit Committee recommended this Integrated Report to the Board for approval.

Board approval

The Board is ultimately responsible for overseeing the preparation, presentation and integrity of the Integrated Report. The Board confirms that it has collectively reviewed the contents of the Integrated Report and is satisfied that this Integrated Report is a fair representation of the performance of the Group.

Peregrine’s 2018 Integrated Report was approved by the Board and is signed on its behalf by:

 

https://www.peregrine.co.za/Engine/Uploads/Image/0/0/31784/r-katz.png

Robert Katz
Group Chief Executive Officer

          

https://www.peregrine.co.za/Engine/Uploads/Image/0/0/31785/s-stein.png

Steven Stein
Audit Committee Chairman