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Latest News

Final Tax and Accounting Opinions received from KPMG

The tax treatment of PurePlay® Instruments will be governed by Section 24C of the Income Tax Act, KPMG advised as part of its SA Tax Opinion. They further provided a comprehensive IFRS International Accounting Opinion for Issuers to follow when they account for the PurePlay® Instruments. Receipt of these two opinions concludes the PurePlay Holdings’ validation process having independently validated the product legally, for accounting purposes and in terms of taxation legislation.

Investor Presentations very positive

Investor presentations have been on-going since the start of May 2014 and the reception of the PurePlay® concept is very positive. Presentations have also been made to potential market makers, traders and placing agents. There is strong demand for a cost efficient commodity investment vehicle and PurePlay® Instruments are the ultimate in cost efficiency at zero costs said Sarel Oberholster, director at PurePlay Holdings.

First Issuer’s Legal Representatives’ Briefing

The PurePlay® Legal and Technical team today briefed the first potential Issuer’s legal representative for an evaluation of the PurePlay® Legal framework. It went very well said Peter Dawe, Director and leader of the PurePlay ®Legal Team. The Legal Representatives will report directly to the potential Issuer’s top management but we do not foresee any difficulties, he added.

TECHNICAL TEAMS SIGN OFF ON IFRS ACCOUNTING OPINION

The technical teams of KPMG and PurePlay Holding (Pty) Ltd (PPH) have completed their tasks on the IFRS International Accounting Opinion on PurePlay Instruments. We will now proceed to issue the Final IFRS Accounting Opinion before the end of April 2014, advised KPMG. The accounting treatment of PurePlay® Instruments will not impede the project in any way and the PPH Technical team in very pleased that KPMG has validated their view that PurePlay® Instrument will not be treated similarly to derivatives, nor will PurePlay® Instruments need to be “marked-to-market”.

KPMG RELEASE FIRST SA TAX OPINION DRAFT

Technical teams at PurePlay Holdings (Pty) Ltd (PPH) are looking at a working Easter weekend with the Draft SA Tax Opinion now to hand. Potential Issuers have been eagerly awaiting this Opinion for a while, said Sarel Oberholster, a director of PPH. We will spend time with family but we will also make some time to do our assessments as we do not want to delay the process. The tax assessment has been a very technical process but KPMG is confident that PurePlay® Instruments will be tax neutral as had been expected by the PurePlay Design team.

EU AND UK TRADEMARK APPLICATIONS SUCCESSFUL

The IP attorneys of PurePlay Holdings (Pty) Ltd (PPH) advised that the application for registered trademarks for the PurePlay® Project has been successful. It is another milestone for us, said Peter Dawe, a director of PPH. We can now proceed with our marketing plans for the EU and the UK he added.

Patents and Trade Marks

The Intellectual Property of PurePlay Holdings (Pty) Ltd is protected by world-wide pending Patents.

Trademarks awaiting registration are PurePlay™, Nature’s Vault™, As Good as Gold™ and Sp☼t True Value™.

Contact Details

5 Jan Smuts Avenue,Winston Park
Durban, 3610,South Africa


Tel: +27 31 7670156
Cell: +27 82 4515864
E-mail: p.dawe@pureplayholdings.com