Skip to content

Daily Share Buy-Back Notice

Document date:  Fri 19 Nov 1999
Published:  Fri 19 Nov 1999 09:39:20
Document No:  155269
Document part:  A
Market Flag:  N
Classification: 

HOMEX - Melbourne                                                     

+++++++++++++++++++++++++
(Not Equity Accounted)

DETAILS OF SPECIFIC RECEIPTS/OUTLAYS, REVENUES/EXPENSES

                                               Current      Previous
                                                period   corresponding
                                                             period
                                                AUD000       AUD000

12.1 Interest revenue included
     in determining item 1.4                        42            8
                                               
12.2 Interest revenue included
     in item 12.1 but not yet
     received (if material)                          -            -
                                               
12.3 Interest expense included
     in item 1.4 (include all
     forms of interest, lease
     finance charges, etc.)                          2            8
                                               
12.4 Interest costs excluded from
     item 12.3 and capitalised in 
     asset values (if material)                      -            -
                                               
12.5 Outlays (except those arising
     from the acquisition of an
     existing business) capitalised 
     in intangibles (if material)                    -            -
                                               
12.6 Depreciation and amortisation (excluding
     amortisation of intangibles)                   28           59


CONTROL GAINED OVER ENTITIES HAVING MATERIAL EFFECT
(See note 8)

13.1 Name of entity (or group of entities)    -
    
13.2 Consolidated operating profit (loss) 
     and extraordinary items after tax of 
     the entity (or group of entities) since 
     the date in the current period on which
     control was acquired                                  $      -
                                       
13.3 Date from which such profit has
     been calculated                                     -

13.4 Operating profit (loss) and extraordinary
     items after tax of the entity (or group of 
     entities) for the whole of the previous
     corresponding period                                  $      -

    
LOSS OF CONTROL OF ENTITIES HAVING MATERIAL EFFECT
(See note 8)

14.1 Name of entity (or group of entities)    -
   
                                        
14.2 Consolidated operating profit (loss) 
     and extraordinary items after tax of 
     the entity (or group of entities) for
     the current period to the date of loss 
     of control                                            $      -

14.3 Date to which the profit (loss) in
     item 14.2 has been calculated                       -   
   
14.4 Consolidated operating profit (loss) 
     and extraordinary items after tax of 
     the entity (or group of entities) while 
     controlled during the whole of the 
     previous corresponding period                         $      -
   
14.5 Contribution to consolidated    
     operating profit (loss) and 
     extraordinary items from sale of
     interest leading to loss of control                   $      -


REPORTS FOR INDUSTRY AND GEOGRAPHICAL SEGMENTS
Information on the industry and geographical segments of the entity
must be reported for the current period in accordance with AASB 1005:
Financial Reporting by Segments. Because of the different structures
employed by entities, a pro forma is not provided. Segment information
should be completed separately and attached to this statement. 
However, the following is the presentation adopted in the Appendices 
to AASB 1005 and indicates which amounts should agree with items
included elsewhere in this statement.

 refer annexure A

SEGMENTS
Operating Revenue
Sales to customers outside the economic entity
Inter-segment sales
Unallocated revenue

Total revenue (consolidated total equal to item 1.3)

Segment result (including abnormal items where relevant)
Unallocated expenses

Consolidated operating profit after tax (before
equity accounting) (equal to item 1.8)

Segment assets                    )Comparative data for segment
Unallocated assets                )assets should be as at the end of
Total assets (equal to item 4.16) )the previous corresponding period.


DIVIDENDS (in the case of a trust, distributions)

15.1  Date the dividend (distribution) is payable        -
                                        
15.2  Record date to determine entitlements to 
      the dividend (distribution) (ie, on the basis 
      of registrable transfers received up to 5.00pm
      if paper based, or by "End of Day" if a proper
      SCH transfer)                                      -
                                        
15.3  If it is a final dividend, has it been declared
      (Preliminary final statement only)                 -


AMOUNT PER SECURITY
                               Amount Per Security  Franked Amount Per
                                                   security at 36% tax
(Preliminary final report only)                                  
15.4 Final dividend:   Current year        -c                  -c
                                                           
15.5                   Previous year       -c                  -c

(Half yearly and preliminary final 
 statements)
15.6 Interim dividend: Current year        -c                  -c

15.7                   Previous year       -c                  -c


TOTAL ANNUAL DIVIDEND (DISTRIBUTION) PER SECURITY
(Preliminary final statement only)
                                               Current       Previous
                                                  year         year

15.8 Ordinary securities                             - c          - c

15.9 Preference securities                           - c          - c


TOTAL DIVIDEND (DISTRIBUTION)
                                               Current      Previous
                                                period   corresponding
                                                AUD000      period
<~>       

15.10 Ordinary securities                            -            -

15.11 Preference securities                          -            -

15.12 Total                                          -            -


The dividend or distribution plans shown below are in operation.

 -

The last date(s) for receipt of election notices
for the dividend or distribution plans                   -
                          
Any other disclosures in relation to dividends (distributions)

 -


EQUITY ACCOUNTED ASSOCIATED ENTITIES AND OTHER MATERIAL INTERESTS
Equity accounting information attributable to the economic entity's 
share of investments in associated entities must be disclosed in a 
separate note. See AASB 1016: Disclosure of Information about 
Investments in Associated Companies.

                                               Current      Previous
Investments in associated entities              period   corresponding
                                                AUD000      period
16.1  Statutory carrying value of
      investments in associated 
      entities (SCV)                                 -            -
    
16.2  Share of associated entities'
      retained profits and reserves 
      not included in SCV:                           -            -
    
      Retained profits                               -            -
    
      Reserves                                       -            -
                                              
16.3  Equity carrying value of
      investments                                    -            -


MATERIAL INTERESTS IN ENTITIES WHICH ARE NOT CONTROLLED ENTITIES
The economic entity has an interest (that is material to it) in the 
following entities.

Name of entity    Percentage of ownership    Contribution to operating
                    interest (ordinary           profit (loss) and 
                  securities, units, etc)       extraordinary items
                    held at end of period            after tax

17.1 Equity accounted      Current    Previous   Current    Previous
     associated             period corresponding  period corresponding
     entities                          period     AUD000    period
<~>                                          Equity accounted

                                               
 Impressions West Pty Ltd      Nil         50          -          -

                                                                   

                                                                   
 
17.2 Other material                             Not equity accounted
     interests                                 (ie part of item 1.14)
 
 Westgold Resources NL          19          -    (5,171)          -

 Uranium Australia Ltd          14          -      (919)          -

 Exodus Minerals Ltd            20          -          -          -
 

ISSUED AND QUOTED SECURITIES AT END OF CURRENT PERIOD 
Description includes rate of interest and any redemption or
conversion rights together with prices and dates.

 Category of                  Number       Number Par value  Paid-up
 securities                   issued       quoted  (cents)    value
                                                             (cents)
 18.1 Preference
      securities
      (description)                -            -        -        -


 18.2 Issued during
     current period                -            -        -        -


 18.3 Ordinary
      securities         


 18.4 Issued during
      current period     

      fully paid          23,179,715   23,179,715       20       20

 18.5 Convertible debt
      securities
      (description and 
      conversion factor)           -            -        -        -


 18.6 Issued during
      current period               -            -        -        -


 18.7 Options (description                         Exercise   Expiry
      and conversion factor)                         price     date
                                                    (cents)

      03/08/2002 Participating
      options              7,000,000      unlisted      70  03/08/2002
      31/12/1999 options     192,543          "         24  31/12/1999


 18.8 Issued during
      current period      
    
     03/08/2002 Participating
     options               7,000,000            -       70  03/08/2002


 18.9 Exercised during
      current period               -            -        -  -


 18.10 Expired during
       current period              -            -        -  -


 18.11 Debentures  
       (totals only)               -            -

 18.12 Unsecured notes
       (totals only)               -            -


COMMENTS BY DIRECTORS
Comments on the following matters are required by ASX or, in relation
to the half yearly statement, by AASB 1029: Half-Year Accounts and
Consolidated Accounts. The comments do not take the place of the
directors' report and statement (as required by the Corporations Law)
and may be incorporated into the directors' report and statement. For
both half yearly and preliminary final reports, if there are no
comments in a section, state NIL. If there is insufficient space to
comment, attach notes to this report.

BASIS OF ACCOUNTS PREPARATION
If this report is a half yearly report, it is a general purpose
financial report prepared in accordance with the listing rules and
AASB 1029: Half-Year Accounts and Consolidated Accounts. It should be
read in conjunction with the last annual report and any announcements
to the market made by the entity during the period. [Delete if
inapplicable.]

Material factors affecting the revenues and expenses of the economic 
entity for the current period
                                                                   
ABNORMAL ITEMS

Following a significant downturn in the market value of listed 
companies in the resource sector in general and in the gold sector in 
particular, the directors have decided to reassess the carrying value 
of the Company's investments and this has resulted in a provision for 
diminution in value of approximately $6.09 million, reflecting the 
market value of investments as at half-year end. The main component of
the writedown was due to the fall in market value of Westgold shares.

EXTRAORDINARY ITEMS

The chief entity sold its 75% interest in Hills Gazette (WA) Pty Ltd 
for gross cash consideration of approximately $630,000. The economic 
entity realised a gain of $188,975 on the disposal.

The economic entity also incurred an extraordinary loss of $329,888 in
establishing a provision for the diminution in value of the company's 
mastheads, reflecting the consideration received for the sale of the 
company's publication unit, Resource Information Unit, in February 
1998.

A description of each event since the end of the current period which 
has had a material effect and is not related to matters already 
reported, with financial effect quantified (if possible)
                                                                   
SALE OF PUBLICATION UNIT

Following the approval by shareholders at a general meeting held on 23
February 1998, the Company has sold the business known as Resource 
Information Unit, including certain specified assets comprised in that
business, to Salamar Pty Ltd, a company controlled by Mr Simon 
Hadfield, for a total consideration of approximately $1.75 million, 
comprising a cash component of $1.6 million with the balance being in 
the form of release of liability. As provided for in the sale 
agreement, an amount of $0.5 million remains outstanding, due and 
payable in two tranches over a 12 month period with interest.


Franking credits available (amount):                       $ 45,351

Prospects for paying fully or partly franked dividends for at least
the next year

 -

Changes in accounting policies since the last annual report are 
disclosed as follows.

 -


ADDITIONAL DISCLOSURE FOR TRUSTS

19.1 Number of units held by the management 
     company or a related party of it                             -
                               
19.2 A statement of the fees and commissions 
     payable to the management company.                           -
    
     Identify:
         initial service charges                                  -
         management fees                                          -
         other fees                                               -


ANNUAL MEETING  
(Preliminary final statement only)

The annual meeting will be held as follows:

Place                         -

Date                          -                       

Time                          -

Approximate date the  annual
report will be available      -


COMPLIANCE STATEMENT

1  This statement has been prepared under accounting policies which
   comply with accounting standards as defined in the Corporations Law
   or other standards acceptable to ASX (see note 13).

   Identify other standards used
   -

2  This statement, and the financial statements under the Corporations
   Law (if separate), use the same accounting policies.

3  This statement does give a true and fair view of the 
   matters disclosed (see note 2).

4  This statement is based on financial statements to which one of the
   following applies. (Tick one)

             The financial        X    The financial
             statements have           statements have
             been audited.             been subject to
                                       review.
                                       
             The financial             The financial
             statements are in         statements have not
             the process of            yet been audited or
             being audited or          reviewed.
             subject to review.

5 If the audit report or review by the auditor is not attached, 
  details of any qualifications 
 are attached/will follow immediately they are available. 
 (Half yearly report only - the audit report or review by the auditor 
  must be attached to this report if the report is to satisfy the 
  requirements of the Corporations Law.)

6  The entity does not have a formally constituted audit 
   committee.


R Narayanasamy 
(COMPANY SECRETARY)
16/03/1998






                                                1