TVV 2017 Result and Dividend Announcement

The Board of Directors of Terra Vitae Vineyards Limited have approved the annual report for the year ended 30/6/17. Earnings before interest, tax, depreciation and amortisation achieved for the year was $3,585,406 and pre-tax profit $303,228. The financial year 2017 saw the introduction of a change to the International Financial Reporting Standards (IFRS), which saw the introduction of depreciation on bearer plants (vines). For the 2017 financial year this had an impact on the reported profit of $1,098,620, but did not impact on cash flow, nor on the setting of dividends. Your Board has resolved to declare a fully imputed dividend of 1.5 cents per share (the same as last year) payable on 15 December 2017 with a record date of 30 November 2017. Full details of the impact of the IFRS changes will be detailed in the Annual Report, which is due to be sent out in early October.