Incorporated in the Republic of South Africa
(Registration No. 1924/002590/06)
Share code: AFE ISIN No. ZAE000000220
(?AECI? or ?the Company?)
FURTHER TRADING STATEMENT
Shareholders are referred to the trading statement released on SENS on 12 October 2012 advising
them that, for the year ended 31 December 2012 (?the year?), AECI expected its earnings per share
(?EPS?) and headline earnings per share (?HEPS?) to be more than 20% lower than the prior year
- strike action in the mining and transport industries. This resulted in significant disruptions across
many sectors, with a particularly detrimental effect on mining and manufacturing production which
was already under pressure due to prevailing global trading conditions;
- AECI?s B-BBEE transactions which were effected during the year. EPS and HEPS would be impacted
by the recognition of non-cash costs of R168 million in terms of International Financial Reporting
Standards (?IFRS?). R30 million of this charge related to the AECI Employees Share Trust component
of the transaction and R138 million was a once-off amount pertaining to the AECI Community
Education and Development Trust. The combined effect of these charges and the additional 4,7
million AECI ordinary shares issued in terms of the B-BBEE transactions was estimated to reduce HEPS
by 151cps for the year.
In the same announcement, the Company undertook to issue a further trading statement once there
was greater clarity on the specific range of the decline in EPS and HEPS. Accordingly, shareholders
are advised that including the IFRS charges the decline in EPS and HEPS from the previous
corresponding period is expected to be between 21% and 28%.
AECI?s financial results for the year ended 31 December 2012 are expected to be released on SENS on
or about Tuesday, 26 February 2013.
The financial information on which this further trading statement is based has not been reviewed and
reported on by the Company?s external auditors.
12 February 2013
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 12/02/2013 08:30:00 Supplied by www.sharenet.co.za
Produced by the JSE SENS Department . The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.