DELTA EMD LIMITED - Trading statement for the half year ending 27 June 2014Release Date: 09/05/2014 16:14:00 Code(s): DTA
Delta EMD Limited
(Incorporated in the Republic of South Africa)
Registration number 1919/006020/06
Share code: DTA
("the Company" or "the Group")
TRADING STATEMENT FOR THE HALF YEAR ENDING 27 JUNE 2014 (the period)
Shareholders are referred to the business discontinuation and cautionary announcement released on SENS on 5 March 2014, wherein shareholders were advised that the Company?s board had taken the decision, subject to approval by the Company?s shareholders, to
discontinue the business during 2014 and to realise value for the Company's assets during 2014 and 2015.
Shareholders are advised that at the annual general meeting held on 9 May 2014, the resolution to discontinue the business was duly approved.
Delta EMD?s interim results for the period are expected to be released on SENS on or about 22 August 2014. In this regard, shareholders are advised further that the Group?s underlying trading results for the period are expected to be lower than those of the
period ended 27 June 2013 due to lower sales volume and reduction of production volume in anticipation of the discontinuation of the business.
In addition, following the decision to discontinue the business, the Group will account for certain expenses relating to the discontinuation.
As the discontinuation process is on-going, to quantify the expenses and timing relating to the discontinuation, an earnings range for the period cannot at this time be forecast with reasonable certainty.
When an earnings range can be determined with reasonable certainty, a further trading statement will be released on SENS.
The forecast financial information on which this trading statement is based has not been reviewed and reported on by the Group?s external auditors.
9 May 2014
Merchant bank and sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 09/05/2014 04:14:00 Supplied by www.sharenet.co.za
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