TESORO GOLD LTD — Interim / Quarterly Report 2017

Feb 27, 2017

APPENDIX 4D – HALF-YEAR REPORT

(ASX Listing rule 4.2A.3)

Company Name: Plukka Limited (‘Plukka’ or the ‘Company’) ABN: 91 106 854 175 Reporting Period: Half-year ended 31 December 2016 Prior Corresponding Period: Half-year ended 31 December 2015

RESULTS FOR ANNOUNCEMENT TO THE MARKET

The results of Plukka Limited for the half-year ended 31 December 2016 are as follows:

	31 December	31 December
	2016	2015
Revenue from ordinary activities up 22%	$1,116,006	$915,575
Loss after tax from ordinary activities attributable to members down 65%	$1,938,669	$5,553,108
Net loss for the period attributable to members down 65%	$1,938,669	$5,553,108

Brief explanation of results

During the reporting period, Plukka significantly restructured its business operations and implemented a new strategy to drive online sales growth through lower priced products, increased exclusive positions, and targeted, ROI-based marketing with lower operating costs.

Plukka launched its own Plukka ‘Essentials’ collection focusing on simple yet creative and elegant designs, all made in 14k or 18k gold and diamonds, and priced between US$500 and US$2,000. Higher value occasional purchases were replaced with higher volumes largely coming from the more affordable Essentials collection. The Plukka e-commerce platform, being the part of Plukka’s business that is capable of substantial scale and growth, saw considerable improvement in several key metrics during the half year including conversion rates and return on advertising spending as the largest drivers of sales and profitability.

Online sales are defined as those sales through the online store which do not have any obvious or reported dependency on an offline channel or event. This revenue stream is distinct from the events revenue channel which includes offline revenue and online revenue that takes place directly at a physical event. This refined focus on the composition of online sales revenue has allowed the Company to better analyse the organic and scalable growth of this critical part of Plukka’s business model.

Multiple trunk shows were held during the period in South Korea, Taiwan, Hong Kong, New York City and London. In partnership with Hemei Group, Plukka ran a three month pop-up boutique located at 60th and Madison Avenue in New York City to showcase Plukka branded jewellery, other exclusive Plukka brands and Hemei branded pieces. The boutique was managed by Plukka but the fit out and overheads were covered by Hemei. The store’s promotional calendar featured a range of events; from high-profile parties with strategic partners including Just Drew, Khirma Collective and Armarium, to more intimate ‘Meet the Designer’ events hosted by Paige Novick, Tana Chung and Rony Tenenbaum. The boutique garnered wide-ranging media coverage and helped Plukka to further expand its NYC client base as well as to drive online consumer confidence.

These online and offline efforts resulted in a 22% increase in sales from the half year ended December 2015, from $915,575 up to $1,116,006. This sales revenue was achieved despite the significant decrease in costs and restructuring of the business. Gross margin declined slightly against the half year ended December 2015 to 38% mainly driven by the increase in pieces at a lower price point as fixed cost items such as shipping increased COGS as a percentage of revenue. Plans to restructure these costs are being initiated, as well as pushing suppliers for more attractive pricing, with a view to improve the gross margin in 2017.

The full business cost restructuring launched in June 2016 was completed during the December quarter, allowing Plukka to benefit from the lowest possible cost base that still allows for management to action the ambitious online growth plans that have been set out for 2017.

The loss after income tax for the reporting period was $1,783,286 (2015: $5,628,377). The prior year reporting period was affected by a variety of one-off transaction costs associated with the acquisition of Treasure Castle Holdings Pty Ltd by Plukka Limited.

Dividends

No dividends have been paid or declared by the Company since the beginning of the current reporting period. No dividends were paid for the previous reporting period.

Net Tangible Assets
	31 December	31 December
	2016	2015
Net Tangible Assets	$4,276,514	$9,278,587
Shares (No.)	151,380,587	150,299,129
Net Tangible Assets Per Share – (Cents)	2.82	6.17
Loss per Share
	31 December	31 December
	2016	2015
Basic loss per share (cents)	(1.28)	(11.81)
Diluted loss per share (cents)	(1.28)	(11.81)

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INTERIM FINANCIAL REPORT for the half year ending 31 DECEMBER 2016

Interim Financial Report for the half-year ended 31 December 2016

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Contents

Corporate Information ............................................................................................................................. 3 Directors’ Report ....................................................................................................................................... 4 Auditor’s Independence Declaration .................................................................................................... 6 Independent Auditor’s Report ................................................................................................................ 7 Consolidated Statement of Profit or Loss and Other Comprehensive Income ................................. 9 Consolidated Statement of Financial Position .................................................................................... 10 Consolidated Statement of Changes in Equity ................................................................................... 11 Consolidated Statement of Cash Flows ............................................................................................... 12 Notes to the Consolidated Financial Statements ............................................................................... 13 Directors Declaration………….……….……….……….……….……….……….……….……….…………..18

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Interim Financial Report for the half-year ended 31 December 2016

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Corporate Information

Directors

Natalia Obolensky – Managing Director Andrew Worland – Non Executive Chairman Charly Duffy – Non Executive Director

Company Secretary

Charly Duffy

Registered Office

Coghlan, Duffy & Co Level 42 Rialto South Tower 525 Collins Street Melbourne VIC 3000

Share Registry

Automic Registry Services Level 2, 267 St Georges Terrace PERTH WA 6000

Auditors

RSM Australia Partners 8 St Georges Terrace Perth WA 6000

Bankers

Westpac Banking Corporation Level 13, 109 St Georges Terrace PERTH WA 6008

Solicitors

Coghlan, Duffy & Co Level 42 Rialto South Tower 525 Collins Street Melbourne VIC 3000

Stock Exchange

Australian Securities Exchange Limited Level 40, Central Park 152-158 St Georges Terrace PERTH WA 6000 ASX Code: PKA

Website

www.plukka.com

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Interim Financial Report for the half-year ended 31 December 2016

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Directors’ Report

The Board of Directors presents the following report on Plukka Limited and its controlled entities (referred to hereafter as “Plukka”, the “Company” or “the consolidated entity”) for the half-year ended 31 December 2016.

Directors

The following persons were Directors of the consolidated entity during the half-year and up to the date of this report. Directors were in office for this entire period unless stated otherwise. Natalia Obolensky (Managing Director)

Andrew Worland (Non-Executive Director and Chairman effective 31 January 2017)

Charly Duffy (Non-Executive Director)

Francis Goutenmacher (Non-Executive Chairman – resigned 31 January 2017)

Joanne Ooi (Executive Director – resigned 5 September 2016)

Principal Activity

The consolidated entity is a global ‘bricks and clicks’ retailer for creative and fashion forward fine jewellery. Plukka seeks to be a first mover in providing a global omnichannel platform to consolidate the fragmented international fine jewelry market, focusing on the highest growth areas and geographies, namely South East Asia and the United States.

Dividends

The Directors did not pay any dividends during the period. The Directors do not recommend the payment of a dividend in respect of the half-year.

Review of Operations and Financial Results

During the reporting period Plukka significantly restructured its business operations and implemented a new strategy to drive online sales growth through lower priced products, increased exclusive positions, and targeted, ROI-based marketing with lower operating costs.

Plukka launched its own Plukka ‘Essentials’ collection focusing on simple yet creative and elegant designs, all made in 14k or 18k gold and diamonds, and priced between US$500 and US$2,000. Higher value occasional purchases were replaced with higher volumes largely coming from the more affordable Essentials collection. The Plukka e-commerce platform, being the part of Plukka’s business that is capable of substantial scale and growth, saw considerable improvement in several key metrics during the half year including conversion rates and return on advertising spending as the largest drivers of sales and profitability.

Online sales are defined as those sales through the online store which do not have any obvious or reported dependency on an offline channel or event. This revenue stream is distinct from the events revenue channel which includes offline revenue and online revenue that takes place directly at a physical event. This refined focus on the composition of online sales revenue has allowed the Company to better analyse the organic and scalable growth of this critical part of Plukka’s business model.

Page 4

Interim Financial Report for the half-year ended 31 December 2016

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Multiple trunk shows were held during the period in South Korea, Taiwan, Hong Kong, New York City and London. In partnership with Hemei Group, Plukka ran a three month popup boutique located at 60th and Madison Avenue in New York City to showcase Plukka branded jewellery, other exclusive Plukka brands and Hemei branded pieces. The boutique was managed by Plukka but the fit out and overheads were covered by Hemei. The store’s promotional calendar featured a range of events; from high-profile parties with strategic partners including Just Drew, Khirma Collective and Armarium, to more intimate ‘Meet the Designer’ events hosted by Paige Novick, Tana Chung and Rony Tenenbaum.

The boutique garnered wide-ranging media coverage and helped Plukka to further expand its NYC client base as well as to drive online consumer confidence.

These online and offline efforts resulted in a 22% increase in sales from the half year ended December 2015, from $915,575 up to $1,116,006. This sales revenue was achieved despite the significant decrease in costs and restructuring of the business. Gross margin declined slightly against the half year ended December 2015 to 38% mainly driven by the increase in pieces at a lower price point as fixed cost items such as shipping increased COGS as a percentage of revenue. Plans to restructure these costs are being initiated, as well as pushing suppliers for more attractive pricing, with a view to improve the gross margin in 2017.

The full business cost restructuring launched in June 2016 was completed during the December quarter, allowing Plukka to benefit from the lowest possible cost base that still allows for management to action the ambitious online growth plans that have been set out for 2017.

The loss after income tax for the reporting period was $1,783,286 (2015: $5,628,377). The prior year reporting period was affected by a variety of one-off transaction costs associated with the acquisition of Treasure Castle Holdings Pty Ltd by Plukka Limited.

Auditor’s Independence Declaration

The Auditors Independence Declaration as required under section 307C of the Corporations Act 2001 for the half-year ended 31 December 2016 has been received and can be found in the ‘Auditor’s Independence Declaration’ section of this financial report.

Declaration

This Directors’ report is made in accordance with a resolution of Directors made pursuant to Section 306(3) of the Corporations Act 2001 .

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Andrew Worland Non-Executive Chairman

Dated: 28 February 2017

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RSM Australia Partners

8 St Georges Terrace Perth WA 6000 GPO Box R1253 Perth WA 6844 T +61 (0) 8 9261 9100 F +61 (0) 8 9261 9111

www.rsm.com.au

AUDITOR’S INDEPENDENCE DECLARATION

As lead auditor for the review of the financial report of Plukka Limited for the half-year ended 31 December 2016, I declare that, to the best of my knowledge and belief, there have been no contraventions of:

• (i) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and

• (ii) any applicable code of professional conduct in relation to the review.

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Perth, WA Dated: 28 February 2017

RSM AUSTRALIA PARTNERS

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TUTU PHONG Partner

THE POWER OF BEING UNDERSTOOD AUDIT | TAX | CONSULTING

RSM Australia Partners is a member of the RSM network and trades as RSM. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm which practices in its own right. The RSM network is not itself a separate legal entity in any jurisdiction. RSM Australia Partners ABN 36 965 185 036

Liability limited by a scheme approved under Professional Standards Legislation

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RSM Australia Partners

8 St Georges Terrace Perth WA 6000 GPO Box R1253 Perth WA 6844 T +61 (0) 8 9261 9100 F +61 (0) 8 9261 9111

www.rsm.com.au

INDEPENDENT AUDITOR’S REVIEW REPORT TO THE MEMBERS OF PLUKKA LIMITED

We have reviewed the accompanying half-year financial report of Plukka Limited which comprises the statement of financial position as at 31 December 2016, the statement of profit or loss and other comprehensive income, statement of changes in equity and statement of cash flows for the half-year ended on that date, notes comprising a summary of significant accounting policies and other explanatory information, and the directors’ declaration of the consolidated entity comprising the company and the entities it controlled at the half-year end or from time to time during the half-year.

Directors’ Responsibility for the Half-Year Financial Report

The directors of the company are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the half-year financial report that is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity , in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of the consolidated entity’s financial position as at 31 December 2016 and its performance for the half-year ended on that date; and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 . As the auditor of Plukka Limited, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report.

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

THE POWER OF BEING UNDERSTOOD

AUDIT | TAX | CONSULTING

RSM Australia Partners is a member of the RSM network and trades as RSM. RSM is the trading name used by the members of the RSM network. Each memb er of the RSM network is an independent accounting and consulting firm which practices in its own right. The RSM network is not itself a separate legal entity in any jurisdiction.

RSM Australia Partners ABN 36 965 185 036

Liability limited by a scheme approved under Professional Standards Legislation

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Independence

In conducting our review, we have complied with the independence requirements of the Corporations Act 2001 . We confirm that the independence declaration required by the Corporations Act 2001 , which has been given to the directors of Plukka Limited, would be in the same terms if given to the directors as at the time of this auditor's review report .

Conclusion

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Plukka Limited is not in accordance with the Corporations Act 2001 , including:

• (a) giving a true and fair view of the consolidated entity’s financial position as at 31 December 2016 and of its performance for the half-year ended on that date; and

• (b) complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 .

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RSM AUSTRALIA PARTNERS

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Perth, WA Dated: 28 February 2017

TUTU PHONG Partner

Plukka Limited Interim Financial Report for the half-year ended 31 December 2016

Consolidated Statement of Profit or Loss and Other Comprehensive Income For the half-year ended 31 December 2016

Note Revenue Cost of sales Other income Administrative expenses Finance costs Restructuring/relisting expense Share based payment expense (advisor and director - options and performance rights) Share based payment expense (facilitation shares) Loss before income tax Income tax expense Loss after income tax Other comprehensive income Exchange differences on translating foreign operations Total comprehensive (loss) attributable to owners of Plukka Limited Earnings per share for loss from continuing operations attributable to the ordinary equity holders of the company: Basic and diluted (loss) per share (cents per share) 2	31 December 2016 31 December 2015 $ $ 1,116,006 915,575 (693,308) (524,322)
	422,698 391,253 106,940 1,483,683 (2,085,806) (2,419,202) (6) (21,568) - (2,771,474) (382,495) (807,800) - (1,408,000)
	(1,938,669) (5,553,108) - -
	(1,938,669) (5,553,108) 155,383 (75,269)
	(1,783,286) (5,628,377)
	(1.28) (11.81)

The accompanying notes form part of these financial statements.

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Plukka Limited Interim Financial Report for the half-year ended 31 December 2016

Consolidated Statement of Financial Position As at 31 December 2016

Note ASSETS CURRENT ASSETS Cash and cash equivalents Trade and other receivables Inventories Other Assets TOTAL CURRENT ASSETS NON-CURRENT ASSETS Plant and equipment TOTAL NON-CURRENT ASSETS TOTAL ASSETS LIABILITIES CURRENT LIABILITIES Trade and other payables TOTAL LIABILITIES NET ASSETS EQUITY Issued capital 3 Reserve 3 Foreign currency translation reserve Accumulated losses TOTAL EQUITY	31 December 2016 30 June 2016 $ $ 3,481,769 4,952,570 337,736 218,789 341,499 346,232 166,298 532,563
	4,327,302 6,050,154
	374,688 453,754
	374,688 453,754
	4,701,990 6,503,908
	425,476 826,603
	425,476 826,603
	4,276,514 5,677,305
	20,685,494 20,501,646 1,693,884 1,495,237 (141,659) (297,042) (17,961,205) (16,022,536)
	4,276,514 5,677,305

The accompanying notes form part of these financial statements.

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Plukka Limited Interim Financial Report for the half-year ended 31 December 2016

Consolidated Statement of Changes in Equity For the half-year ended 31 December 2016

Note	Issued Capital Options Valuation Reserves Foreign Currency Translation Reserve Accumulate d Losses Total $ $ $ $ $
Balance at 1 July 2015 Total loss for the period Foreign currency translation Total comprehensive (loss) for the period Transaction with owners in their capacity as owners: Allotment of shares following conversion of Convertible Notes Issue of share for acquisition of subsidiary Share issued Share based payments Share issue costs	5,391,420 - (155,103) (6,708,979) (1,472,662)
	- - - (5,553,108) (5,553,108) - - (75,269) - (75,269)
	- - (75,269) (5,553,108) (5,628,377)
	799,369 - - - 799,369 4,104,807 - - - 4,104,807 11,408,000 - - - 11,408,000 (461,600) 1,269,400 - - 807,800 (740,350) - - - (740,350)
	15,110,226 1,269,400 - - 16,379,626
Balance at 31 December 2015	20,501,646 1,269,400 (230,372) (12,262,087) 9,278,587
Consolidated Balance at 1 July 2016	20,501,646 1,495,237 (297,042) (16,022,536) 5,677,305 - - - (1,938,669) (1,938,669) - - 155,383 - 155,383 - - 155,383 (1,938,669) (1,783,286) 183,848 - - - 183,848 - 198,647 - - 198,647 183,848 198,647 - - 382,495 20,685,494 1,693,884 (141,659) (17,961,205) 4,276,514
Total loss for the period Foreign currency translation Total comprehensive (loss) for the period Transaction with owners in their capacity as owners: Conversion of performance rights Share based payments Balance at 31 December 2016

The accompanying notes form part of these financial statements.

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Plukka Limited Interim Financial Report for the half-year ended 31 December 2016

Consolidated Statement of Cash Flows For the half-year ended 31 December 2016

Note CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers Payments to suppliers and employees Interest paid Other income Net cash used in operating activities CASH FLOWS FROM INVESTING ACTIVITIES Payments for plant and equipment Proceeds from disposal of assets Acquisition of subsidiary, net cash acquired Net cash provided by investing activities CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issue of share capital Share issue costs Net cash provided by financing activities Net (decrease)/increase in cash held Cash and cash equivalents at beginning of financial period Effects of exchange rate changes on cash and cash equivalents Cash and cash equivalents at end of financial period	31 December 2016 $ 31 December 2015 $ 1,093,591 824,470 (2,728,027) (2,071,294) (6) (21,568) - 12,443
	(1,634,442) (1,255,949)
	(3,993) (152,331) 4,109 - - 412,328
	116 259,997
	- 10,000,000 - (740,350) - 9,259,650
	(1,634,326) 8,263,698 4,952,570 494,701 163,525 -
	3,481,769 8,758,399

The accompanying notes form part of these financial statements.

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Plukka Limited Interim Financial Report for the half-year ended 31 December 2016

Notes to the Consolidated Financial Statements

1. Summary of Significant Accounting Policies

Basis of Preparation

These general purpose financial statements for the interim half-year reporting period ended 31 December 2016 have been prepared in accordance with Australian Accounting Standard AASB 134 'Interim Financial Reporting' and the Corporations Act 2001, as appropriate for for-profit oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 'Interim Financial Reporting'.

It is recommended that this financial report be read in conjunction with the annual financial report for the year ended 30 June 2016 and any public announcements made by Plukka Limited and its controlled entities during the half-year in accordance with continuous disclosure requirements arising under the Corporations Act 2001.

The interim financial statements have been approved and authorised for issue by the Board on 28 February 2017.

The principal accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, unless otherwise stated.

New, revised or amending Accounting Standards and Interpretations adopted

The consolidated entity has adopted all of the new, revised or amending Accounting Standards and Interpretations issued by the Australian Accounting Standards Board that are mandatory for the current reporting period. The adoption of these Accounting Standards and Interpretations did not have any significant or material change to the consolidated entity’s accounting policies.

Any new, revised or amending Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.

Functional and presentation currency

These financial statements are presented in Australian dollars, which is the functional currency of Plukka Limited. The functional currency of Treasure Castle is Hong Kong dollars and the financial statements have been converted into the functional currency of Plukka Limited in accordance with IAS 21 – The Effects of Changes in Foreign Exchange Rates.

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Plukka Limited Interim Financial Report for the half-year ended 31 December 2016

Notes to the Consolidated Financial Statements (continued)

2. Earnings per Share

	Consolidated 31 December 2016 $ 31 December 2015 $
Basic and diluted (loss) per share (cents per share) a) Reconciliation of earnings to profit or loss Net loss Loss used in the calculation of basic EPS b) Weighted average number of ordinary shares outstanding during the year used in calculating basic EPS	(1.28) (11.81) (1,938,669) (5,553,108)
	(1,938,669) (5,553,108)
	150,842,813 47,031,321

Options have not been included in the calculation of dilutive EPS as the options are antidilutive.

3. Issued Capital

(a) Ordinary Shares

(a) Ordinary Shares
		Consolidated
	31	December 2016	30 June 2016
		$	$
Ordinary shares fully paid		20,685,494	20,501,646

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Plukka Limited Interim Financial Report for the half-year ended 31 December 2016

Notes to the Consolidated Financial Statements (continued)

3. Issued Capital (continued)

Movements in Ordinary Shares	31 December 2016 30 June 2016 No. of shares $ No. of shares $
Balance at beginning of period - Allotment of shares- conversion of convertible notes - Conversion of preference shares - Conversion of preference shares - Elimination of existing TCH shares - Existing Plukka shares on acquisition 1 - Capital raising at $0.20 per share - Shares issued to acquire TCH - Issue of facilitation shares - Capital raising costs – options issued - Capital raising costs - Conversion of performance rights Balance at end of period	150,299,129 20,501,646 14,193,334 5,391,420 - - 2,100,105 799,369 - - (4,193,334) - - - 4,193,334 - - - (16,293,439) - - - 20,524,132 - - - 50,000,000 10,000,000 - - 72,734,997 4,104,807 - - 7,040,000 1,408,000 - - - (461,600) - - - (740,350) 1,081,458 183,848 - -
	151,380,587 20,685,494 150,299,129 20,501,646

(b) Reserves

	Consolidated
	31 December 2016	30 June	2016
	$	$
Options reserve (i)	1,324,558	1,324,558
Performance Rights reserve (ii)	369,326		170,679
Balance at end of period	1,693,884	1,495,237

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Plukka Limited Interim Financial Report for the half-year ended 31 December 2016

Notes to the Consolidated Financial Statements (continued)

3. Issued Capital (continued)

(i) Options

The following are the options outstanding at reporting date:

Movements in option reserve	31 December 2016 30 June 2016 No. of shares $ No. of shares $
Options Reserve Balance at beginning of period - Issue of option for transaction facilitation expense with an exercise price of $0.20 - Issue of options for transaction facilitation capital raising costs with an exercise price of $0.20 - Issue of options for consultation services with an exercise price of $0.20 Balance at end of period ii) Performance Rights Movements in rights reserve	11,540,000 1,324,558 - - - - 7,000,000 807,800 - - 4,000,000 461,600 - - 540,000 55,158
	11,540,000 1,324,558 11,540,000 1,324,558
	31 December 2016 30 June 2016 No. of shares $ No. of shares $
Balance at beginning of period Issue of the performance rights - Tranche 1 - Tranche 2 - Tranche 3 - Performance right conversion - Performance based - Time based - Director - Time based - Employee Performance rights amortisation Balance at end of period	32,439,892 170,679 - - - - 7,000,000 - - - 6,267,500 - - - 6,267,500 - (1,081,458) (28,181) - - 1,502,994 - 6,416,142 - - - 6,488,750 170,679 1,503,000 10,102 - - - 216,726 - - 34,364,428 369,326 32,439,892 170,679

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Plukka Limited Interim Financial Report for the half-year ended 31 December 2016

Notes to the Consolidated Financial Statements (continued)

4. Dividends Paid or Proposed

No dividends were paid or declared during the half-year ended 31 December 2016.

5. Operating Segments

The directors have considered the requirements of AASB 8 – Operating Segments and the internal reports that are reviewed by the Chief Operating Decision Maker (the Board) in allocating resources and have concluded that at this time there are no separately identifiable segments.

Following the adoption of AASB 8, the identification of the consolidated entity’s reportable segments has not changed. During the period, the consolidated entity’s considers that it has only operated in one segment, being operating a multi-brand, omnichannel fine jewellery retail business.

The consolidated entity is domiciled in Australia. Revenue from external customers is generated only from Hong Kong. Segment revenues are allocated based on the country in which the customer is located. Assets are located in Australia and Hong Kong.

6. Events after the Reporting Date

No matters or circumstances have arisen since the end of the reporting date which significantly affected or may significantly affect the operations of the consolidated entity, the results of those operations or the state of affairs of the consolidated entity.

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Plukka Limited Interim Financial Report for the half-year ended 31 December 2016

Directors’ Declaration

In the opinion of the Directors:

1. the financial statements and notes of the consolidated entity are in accordance with the Corporations Act 2001, including:

2. (i) Giving a true and fair view of the consolidated entity’s financial position as at 31 December 2016 and of its performance for the half-year ended on that date; and

3. (ii) Comply with Australian Accounting Standards AASB 134; and

4. there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

Signed in accordance with the resolution of the Directors.

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Andrew Worland

Non-Executive Chairman

28 February 2017

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