CONSOLIDATED AND COMPANY INCOME STATEMENT costa eae 32 rote prot Operating expenses a2 ‘ea and marty cots Crosse 82 ‘Operating profess) Protoss before tx Protoss forth yar uty hes af sre Nencometing mers as Base erin pa sharers * Dh eamings er sharers os uss uss uss uss wens) cosas) ates) (5002 aver mena 34079 3m0408 2ves036s) cr szeo) _usezean) (5263611 CN 9577500) | 4702660) | rossezs)| _(es65%3) (sane) | esses) | crserees)| (250 0 qerwsoy | 742s 309.001 “aes Tosast eer) 8962100 (awe — sworn) (as3650 zz) S560 «S154 —~(2ART ASH) 804354 eres (1375908 075496 37raz (am ease e19sss8 sso esas) cK 2412 zm CONSOLIDATED AND COMPANY STATEMENTS OF OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2020, Protoss forthe yar ther comprehensive Ta ay beret aaa o PONS PE Netoter compretensiveovs thal may be eles rotor Tessin eubeequent pods am hat may ot be resets fo pM os subsequent pores (a on) eration of pros pat ard equ . Detar taxon vain of pry et ne sauomer u Dott orlss in subseqven periods ‘Total comprehensive forevncome forthe yaar enue ay ele of ° nour: ‘company am 28 220 ate uss uss uss uss sorts 3774254 aasrase) sas end ozs 4908080) 102590 25359 asserz) 1483799 124034 azn 06757 e470 Tiersen (@osr sas) rtoatsa) — asvensy — seneae a7 zeCONSOLIDATED AND COMPANY STATEMENTS OF FINANCIAL POSITION assers Prey patent cnet reat ctr an fete Ontarad ot Blopal assets Trae se one racavables Ce curant nancaseis ‘cash ag cash equates Tota arse EQUITY AND LIABILITIES Equity State cats ‘Share based paymonts osove Foreign catency vansistion reserve Retained earning Equity atbutabe to equity holders ofthe parent Nomzonvlingmtrests Tota equity Lengiem baromings Long tarmoas ites Deter txts Shortie borings Shorternlesse abies Prowsone Income ax payable Tota abies Total oguty ana sor 7 “ @ Be RED uss uss uss uss segesso2 — sauTas12 saoea 0a 525 #320000 = 320.000 - sosrare . - : . ee ee eizero _soaz612 : ys4ace_aaseese1 _ataa76 _sez05e61 ee6r.08 19858957 exzew —s16774 ‘ios620 359879 2 : sozigox9 sizes gorges zs 440 nysrrr 19305753 ansssz0r—sasT7 saz, : 285 564 s : sess 4are0a3__zeseses 15208011 EPRI ECC TT se2i9970 —ssaeaorr —set997 aa. 32486 30,708 21488 "390,708 uzosars 13412621 ‘zane ‘902 (sazs7si3) 7325438) : T4s73860 9967973 s4sa0R 9.161.998 7982.75 a70n3,61 a2, 153.46 5.463.903 00ers 700264 2 73020 248 519887 . zsoaze 1995510 19358 19.358 suase7 4168643 66.025 35208 7435560 3580868 © s2.S60801—28.484055 404,68 : - : arms sastara or3.005 03708 szrsse8 5357358 asnz35 1 taz039 Zoovaes 1.842558 24.78 rea 288 245 505 25218 : So2s44s9 7300 arpa ayaa Sans ame vaya apne wariagaa 194065518 __s0go7zT0 881718 °CONSOLIDATED AND COMPANY STATEMENTS OF CASH FLOWS. ‘operating ates Protos) etre ta ‘Ajutrerte oreo rf blo ae et ah os: Deprecstn of open at an qupment ang ea asi (Protoss on ipsa et ope, par and equipment Reveal of npsement on vaste Share ees tomo verte Share based payment anon cet Cpersting cash Rows before working capt chang lenge aguatnerte Inrase in togcal sts (ereasodecrese invade ans orcas Decreatalinerese in aman ome by radeon Ireea)erens) nde ane ane pavbio (Pocrasepncsso in amounts ed to rtd ontos Irresalsecease] in poss Net cash tows utlsed in operating atvitos Investing acts Proceeds tom se of propery, ln ard equsment Puss of pope pana equprentan nangble sel Invermere nsubecanee Invesmart a jontvontze Ire esha Net cash tows (used inigsnerate trom Investing actos Financing activites Proceso itu share canis ne of arse costs Share suck Repaynet of se iis Capt icon ron conlingshraoler Dido pe rere: aie Net csh tows generated romiutiied i) Mencngeetves Nat (deceatoveerenoin cash an can quale acs of exenange ce canges on nah an aah aqua ‘cash ane casn oauhalonts at Benning of you" Cash and ea equivalents a endo your 186 wes a 220 ane 2020 zone uss uss uss uss Beise0s — 55hca0 | ASTABH) 5.98 suisas 2740219 stare t39,203 (73738) 8.388) (8.089) aa (e000) (e000) - 102" : 27s605) «1.190851 (erossry ——renyasy 772054) 80670) sures senor 3936997 2.771508 ragssvi7e2sM — @ssars1) (1.905630) (Gosssos) asrass) 133035) 37238) (1280925) : (aosa2t) 765765) (sto) SSS aasnast (12351502) 4194805 6.505073) arrsor—zasrs9e ——sr0280 (70840) 728320) 8757858 685805) 3.051.880 (Basees2)_—_@en2se) (606) @s34.t6) scone) (10H 100 16428 (sm671) (7.508) assem) (as qrssrran asa (6530188) @s0312) (912.005) 208.508) (685997) 6587 : sross _rasa5__1yr2054 308 To5000) (3367340) (6.14780) e.30004 7263.06 srat88 erry, 000000) ‘sessr7 35980566 T5ash 185 30,797,388 (a3pizae2) — (2039%741) (12854078) aa0.12) e278) : (ase) 324) (4251780) BAIes) sieory gangs) 221 800 (yaisauey —zaz00 (zsmngeay —arer3 ianses) 8848) : Dress veer9308 __se20801 5603CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Tonlconpenmi oe Tak (Ma.99} TT (aaKs A (AaKse) oie em sy tssus amare ATs? oanas STS aes) a7) fount anon news » (ory) nan gota) gman) aren coe : Sitar) amas (samen aaa cnc by sues roe COMPANY STATEMENT OF CHANGES IN EQUITY Cn rarer ven Dene sss asi Secchi mannan conte con ta sive Omer em te 3°NOTES TO THE FINANCIAL STATEMENTS: 4. Corporate Information Seed Go lnermatinal Lined ia company whchIsncorported and danciedin the Republic of Botswana ands ted on the Botswa Slock Exchange, acts asa Roding company for a group of comparins omicedin Bolswara, Ghana, Kena, Malawi, goa, Tancari, Rance, South Aria and Zambia hoes props’ aches are te procsesing ot agreturl seed on a conmers baes “The consolated thancial statements of Sood Co Itomalinal Limited forth year ondod 31 March 2020 wore authosod for Issue in _bosrcanes weh a esouton ofthe craton 12 June 2020, 2. Signineant accounting policies, 2.1 Bass of preparation ‘Th financial iatoments ar based onthe slauory record hat are mainsined onthe ison cost convention, exeap for propery, ant and equpment and dolegcal ascts wich are measured at far value “The consolidated franca statorents ar presented in United Stales Dos (USD), “The consoled nancial statements prove comparave information in respect of the previous period 2.2 Basle of consolidation ‘The consolidated nancial statements compde he financial statements of te Group and ts subaldavies as at 31 Nazeh 2020, Contol 'sachoved when to Groups exposed, or has hts, ovaraborelums fom is iwowerantwih be rvesoe and has be ait fort, ‘hose rus troughs power over the wvestoe Specialy, tha Group conto's an invest If, and only Ff, the Group has: + Bower over the vest (9, exising gs tha give ithe cuent by to dre the relevant acts ofthe invesoe) * Exposur, or gt, to vant otuns rom ts invlverant win ta nvates "The ably to use power aver he sveste Io af fe relums General, heros prosumpton tat @ malortyof voting rights resus in control. To suppor this presumption and when the Group has loss than a majory ff ving or siraar rats of an vests, to Group coniers a r.ovant aes and ekeurstancs in asoeing vwhaterithas power over an investeo, lug + The contractual arangomens) wit th oer voto holders of the nvesio + Rights sing fro ober convactal arrangements ‘The Group votng rights an potetal voting igs “The Group r-assesses whether o ott contol an investee fats and creumstances inca that hare fine vee elements of conta, changes to one or more Consolation ofa subsidiary begin when the Group cians contol over te subsidy and osass when the Group loses conta ofthe Subeisary Assets, abitos. income and exponsos oa subsilry acquired or disposod of dsig the yar ao nuded inte consodated {nancal satemeois fom tho ate to Group gan conl unl io dare be Croup ceabes to canal he substay Proft or loss and each component of OC! are atriute tothe amu Holter of ts pant of the Group and to the non-contoing Inlerests, even if this rsuts Inthe non-controing inleests having defi balance, When necessary. ajusimens are made othe ‘nancial sltomant of subsist big tot aecouting poles io ine wih the Gav's account potces Al ina roup asses and abies, egy, income, expenses and cash Fows ralaing to Wansactons between members ofthe Group are eiinates in fl on ‘oneolaton [Achange inthe ownecsipintorost of subsidiary, without loss of conto fs aecounle for as an eau varsacton. rte Group loses contol ove a subsiciary,t darecogits the related assots (inching good, bilies, non ontinginarest and ‘tre components of equi, whee ary resin! gan Oo is recognised poi ioss Ary ivestmont retained Is recognises 3 far 123 Summary of signicant accounting policies 2) Busines Gombinatons and good!” Business combinations are aesoonod for uting the acquston method. Tha cos of an acquisitions measured asthe agorogate of ‘considereton anstored, whion fs moasureg a acausiton date ‘ar value. and the amount of ary non-cowellng orests nthe Staureo For each buses canbinaton the eaup lets whethr to measure the non-coning ilceatante aequoe aa value ‘rats proportonata share o the acquis’ wont nt abso Acausttor-elated cobs ave expensed as cod an incuded ‘Siminaatve expanses ‘man tre Group acquires a busines, assesses the fancil asses and lblits assumed for appropiate cassfcation and ‘denigntion n acordance wih the conactus terms, economic ccunstanees and parinent condone asst theaequtlon dee ‘Ary contngentconsideaten ob ansfoed by the acquis Wi bs racognisad at a vale a th aquson date, Contingent consideration ‘dateies onan stseto lobitythat a anal insurer and wll tbe scope IFRS 8 Fnanlallnsumarts ie aasied ata vale ‘ih the changes in a vauorecogrisesin the prof rossNOTES TO THE FINANCIAL STATEMENTS: Goods inaly measures at cost (sing te oxcoss of he aggrogal ofthe consideration wansfood an te amount ecogrisedfor hon-ontolingiaress sn any previous rarest hel ideniialeateolsacqued ard abbas assumed) te a vale of te nel assols acqured fs xcs ofthe aggrogate consideration vansfeed, the Group ro-assosses whether i nas correctly ‘dented all of ne asootsarqurd and alc he labitasaoaume and reves the procedures ueed to maasure tne amounts BE recognised tthe soquston dale, the reasoesavet sl eaute nan encase ote fr vue of ne ease aoqured aver tne aggregate feonstoraionVansfred, than the gan fs rocogised n prof oss ‘At init recogniton, goodwil t measure cost loss any accumulated impairment oases. Fer the purpose of ipsiment tesa ‘good acquired na business combination fs, fom te acquiton dale aloeated to each ofthe Group's cash-generatn uns that a Sxpected Io bene tom De combat, erepecive of whster ater sels o lablites ofthe acquvee ae assigned a thse uns. ‘mere good hasbeen allocated to cash-goneratng unt (CCU) ana part of tne operation win that unt csposed of, the goodwill sisocatod wih the disposed operat sncuded ne caryng amount o te operate en determining he gana oss on depos Good ssposed in these creumstances i measured bases on (ne rela valves ofthe deposed operation and the pon of he ‘cauh-goneraing unt retaes ») Invostrentsin associat and joint venturo ‘An associat ean any over utich tha Group hae near vance, Signcan influence isthe powsr to partes inthe franca ‘hel operating pate detsione of tv este, bu olson rol caitl over those poise, ‘Alin venture es typeof jot srangerant whereby te pate that have lt contal of he amangemant have rights tothe net asta af ne it venta, Jot conse ‘ontectunlyaproed sharing of coriol ofan mangement, whi exes nly when elsions about the relevant actives requ the Unanimous consent fhe pares sharing conta, “The consiratins made in determining sigitcant intuance or joint contol ae smart those necessary to determine conrl over “The Group's investment in is asocites anoint venture a counted for using he equ tho. Under tne equity mothe, he vostmantin an associat inaly recognise a cost. Th carying amount ofthe investments adusted {orecognae changes nthe Groups share of net esate ofthe associate sce the soquafon date, Goodwi alaing toe associates Droit velire is nla inthe crying rout he vesient ands not ested for parse soparatey ‘Ta statomant of prof or los reflects the Group's share of the result of operations of the assocates and Jan venture. Any chan (Caf thot investoes is prosentod as part ofthe Grup's OC. In aston, when tare has been a change recognised doc} ‘Sgt ofthe ansocite or nt vanura, the Group recognises fs enare ofan changes, wnenapplabia ths statement of changes tauly, Unreatoed gars and losses resuling rom tansackons belween th Group and He asada oft vane are sina © ‘ho oxen of he ntrestin tho associat, “Tho agaragate of tho Grows shar of proto os of ts assaciates and Jon verte f shown on he fae ofthe statment of prot or loss flr operating proft “Tha franca sttomans of te associates ad jon venture ar prpara forthe same roping pero asthe Group. When nacossay, _2gusimons are made to brings aozounong poles ne wth toss of te Group ‘Aor aplcaon ofthe only moti, the Goup deternins whether it's necessary o recognise an impaimat loss on ts investments nis aseeciatesandjoint verte. teach reporting dat, the Group determines whether heel objective evidence that te investments Inthe eegoeates and jot vente sre unpaved. if thee 9 such evaence, the Group eacltes tha amounl of snpasmant se Ne ‘iference between tne recoorsbe amount ofthe associate ort venture ana caring vate, an hon recognises te los te Statement of proto ss. Upon less of significant inftuonca over tho associates or joint contol over the subsiianes, tha Group measures and recognises any ‘elaned vest tls a vale, Ary diference between the caring amauta te vesimetin the aasoclte ot Yel upon lots of signeantinfuanee or oe convo spective andthe far valve ofthe retained invosment and praceods om cipal Feeognisedn prot ross £2) Curent versus non-cument asset “The Group presets assols and lables Inthe statement of francial postion based on cuentnor-curentdassfication. An asso is "Expected oo reals or ntanes to be solder consumed in the normal cpertng cele +H pearly fobs purpose wasn "Cxpacod tobe ralseswihin Wolve months flor the reporting parod| or “Cash cash equivalents uness restricted from beng exchanged or Use to sete a abt for at east welve months eter the reporting eros °NOTES TO THE FINANCIAL STATEMENTS: Allohorarete are lasses as non-carent. ‘iat is current when: ‘itis exacted te seted in norma oparating ote “itis hald pena forte purpose ol acing +s de fo be soles win twelve months alo herepering porad or There no uncondtnal ght forthe sttement of te abily for at east tele months a Fe reporting period ‘The Group classifies a other lables as non-curent Defer tx assets and lablites ae casefed as non-cuent assets an abies. {9 Fair valve measurement “The Group measures nernancal asses suchas property, plant and equipment and bilogial assets at far value at balance shest Far valu isthe price that would be rceved to sl an asset ot pat tense abit nan ondary ransacton between market patbopants atthe measutemant date The fa value measurement based an the presumon that the vasacton fo sell he sel oF {ancora takes nace othr inthe praipal maths fr he se olay or inthe absence ofa principal market. in he most advantageous market for he asset orbit. “he pip or the most advantageous mae! must be accesible by the Group. “Th a value ofan assatoralalty is measured using assumptons thet markt parsipants wou use when pring the asso or lity stsumang Dat market paricpants ae. the eeohome best lores “The fa value mssurement ofa nor-nanc asset ake nto account a market panoipants aby to ganerate economic benefte by Using the ast ins aghast and bout Je o by olin flo anther marke patepant al wouls ute easel te highest and Bott “The Group utes vation techniques ha ar appropratein te cxcumstances an for which sfciont daa ar aalbleo measure st ‘val, maximising tne us of flovantcbsarvale Inputs and minimising th use of unobserabs put. [A asses and lables fo hich fi vale x measured or disclosed in he Francia taloments are calgorsed win the fi vate earey,doscribed as olows, based on ho iowost evel put hats sgrfcant to far vas easuremort 232 Whale "vel? Quoted (snejsteg) markt pices in an aetve marl fer Kenalassaso tbs. * Level 2—Vatuatontocheques for which he lowest Tova input hats sgneart to thelr fa valve measurement is rely riety beanie + Lev 3 = Valuation techriques for which th ows! oval nput hats sgnteat tothe far value maasuromant is unobsorvabe For assets and abates tat ar recogeied nthe fhancial talaments on a reuring bak, the Group deemines whether anata ave oceareabotwoon lovin he rary by re-asossing calogorsaton (based oh lowest lovel put rat fsigreart tthe ait ‘value measuremant asa whol) athe end f cach repoing peroa ‘The Group Finance Director determines tne poies and procedures for bth recuring far value measurement and for non-recurng Excomal valor aro involved fr vahation of sean asst and signifcant ables. Invlvement of exomal valu Is doce upon by he Group Finance Dieter after dscusson wih ard approval by the Groups Aust Commitee. Saleclonereta induce market, ‘towroige, opuaton,indapendonce and profesional accretion ‘mere avaale, the Goup Finance Direct” aso compares the fal value changes computed by extemal vatuers with relevant exemal fours to cetorne wholhr the chango it raasonalo. As nd when vahntions mo cried out, the Group Finance Dest: proses ‘a valuation resus tothe Audt Commute and the Group's naependen! audios. Ts Incudes a dlcusson ofthe major assumptons Forth purpose oar value éslosure, the Group has detained casos of asses and nbs on th basis of nature, characteristics Sha ake te ately an ho lve ho fa value Mercy, a exloned above. Favaiv rele dscosute "Gears instants anos rane aset that re measures at for valve orwere fer vauies are cles, ae sonmarsod inne 32 1) Revenue recognition “The Group sn re business of soling seeds to reais, farmers and govermant ents, Revenue hom conracts wits custorrs ls rocoghised when onl o De seads are Wanseied othe cstomer at an amount that efacts {he conssration owen tho Group expt ote nite in exchange for ose sted. Tha Group has gover conelosos tat prnpal nas roveruo arangements bacavse&yprally contol the sceds before vanstoreng tom ono customer. Revonue fom sale of seeds recognise at he pontine when conta of tne asset is ranted othe customer, ganeraly on delivery [tthe seed The noma er term 2 50 days rom devanyNOTES TO THE FINANCIAL STATEMENTS: “The Group considers tnt her are no ther promises in the contact tnt ao separate performance eblgatons to which a portion of he ‘wanssction price needs fob allocated. Revenue measured at the amount ofthe ransacton price thats located to he performance cbligston taking into account th alec variable consseraon andthe sustonce of sical inancng omponart ‘Variable conederation Fights of rum Crain contracts provide a customer wih a ht to tum the seeds within a speclas patad. The seed sling season e generally onciudod within the nancial yar andvetums ar also by thant year and therefore he Group doos nol goreranynoadt ostmate ‘a volume of seeds iat wl ot ba otumea because o pred! tho amount of vanabs consieraten to whch the Group wilbe ened, ‘Tha roquiroments in IFRS 15 on containing estimates of variable consideration ae largely not appScable forthe folowing reason: “Miia impact of mare oly, logal ane regulatory ehangesonaaed eturalorcn {Wear condone Keown by fnancayear end Inreore mos returns woud have taken place by ten ay, * The Group has extonevo sxporinco wit sir contacts; "The Group does not ofar 2 broad range opie concession o highly vara paymant terms * Contacte ao not have large number and broad ange of possi cneseraton amour * The uncoranty about te consideration ameunt (any bough unk) canbe esowved uk “Thar 0 no igh of our assets an runs Habis nthe Groups financial taloments ‘Volume abstes “Tho Group provides retrospective volume rebaes fo corisin customers ones the quanty of prosuts purchased dung the prod ‘Soseds atosnats spctiod nthe cota. Rabate ao el agaist amounts payabe By io eustomer. The pay dsroutorsstock- Signifcant rancing component General the Group receives pays rm i customers tn twelve month ofthe date of delivery. Using the practcal expedient in IFRS 15, fe Group doesnot acs! tho promise aro of conisoraton frie afc fa sigsfican naneing compose expos, ‘at contract inception, ha! be paiod betwoun De rans of the promised good 5 service tothe esioma and whan the custome pay far hat good o sarice wl be one year oo, oni balances Conract ares ‘A contac sels the ight o consideration in exchange for goods or servo transferred othe customer tne Group perf by \ransaring goods or sores fo a customs: before tho customer pays corsdoraton or bofers payment duo, a contact asst fs ‘ecognised or he cared conalderaton tats conditions, “rade receivables ‘Atrade rcehable represents the Groups right to an amount of considera that uncontonal requir before payment ofthe consceraton du), ‘ony the passage of tine Is Contact abit ‘contra Hab i tbe obgaton fo anaes goods or sevice fo a customer for which the Grup has rcsved consideration or an ‘amount of conidration i ce) rom the customer. a customer pays conideration before he Group vansers goods or sevice oth ‘isiomer, convallis ocagnsed when Ie payments made or he payrbentis due (whichever efter) Contact sabstes a recognised as revenue when the Group performs under te contact Prop receipts rm cslomors are contac aby, ‘Ascls ana lapitesansing om nights of atu Right ofretum assets Right rtm ase! raprosois the Groups right to racover he goods oxpeces tobe rturied by customs, The asol is measured a ‘a rmer caring amount ofthe versa, ns ary expeiod costs to recover the goods, ncudng ry poten decrease nthe vale tte rtumed goods The Group updates ha measur ofthe asset recorded fray revlon toe expected level trea, ‘tel as any asstona decreases inthe valve ofthe roamed proses Refund apie ‘Aral tably she obigaon to refund gm o lof the consideration ectved (0 receiv) fom tne customer andi me belcarepirdrgcarge mba Vruaclon es) aon nc preg pro Peer ave surg ply on Yrae 1 Toros urn! reome Tax Currant income oe asses and labs are msasurod at ths amount expected to Be racovred tom or pai to ho taxation autres. Si tax rates and fx la used to compute the amount raced or aubstantvty enacted athe reporing date the courses where the Group operates and genera taxa