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Afx - African Oxygen Limited - Afrox Announces An Evaluation Of Manufacturing

Release Date: 11/11/2010 14:30:46      Code(s): AFX
AFX - African Oxygen Limited - Afrox announces an evaluation of manufacturing   
facilities and trading statement                                                
African Oxygen Limited                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1927/000089/06)                                            
JSE code: AFX  ISIN: ZAE000067120                                               
NSX code: AOX                                                                   
("Afrox" or "the Company" or "the Group")                                       
AFROX ANNOUNCES AN EVALUATION OF MANUFACTURING FACILITIES AND TRADING STATEMENT 
1    Impairment of Manufacturing Facilities and Related Costs                   
    Shareholders are advised that Afrox will be impairing assets at two of its  
manufacturing facilities. These impairments and associated costs will       
    result in a negative pre-tax impact in 2010 of R112 million. Annualized     
    savings are estimated at R25 million (effective in 2011) and R50 million    
    (effective in 2012).                                                        
2    Trading Statement                                                          
    Accordingly, in compliance with the Listings Requirements of the JSE        
    Limited, the Group hereby advises shareholders that for the year ending 31  
    December 2010, basic earnings per share are expected to be between 40% and  
60% lower than those of the previous corresponding period and headline      
    earnings per share are expected to be between 10% and 30% lower than those  
    of the previous corresponding period, after taking into account the         
    impairment detailed above.                                                  
Shareholders are advised that Afrox`s results for the twelve months ending  
    31 December 2010 are expected to be released on or about 17 February 2011.  
    Shareholders are advised that the information contained in this             
    announcement has not been reviewed nor reported on by the Company`s         
external auditors.                                                          
Johannesburg                                                                    
11 November 2010                                                                
Sponsor:                                                                        
Barnard Jacobs Mellet Corporate Finance (Pty) Ltd                               
Date: 11/11/2010 14:30:46 Supplied by www.sharenet.co.za                     
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