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SPANJAARD LIMITED - Trading Statement

Release Date: 27/05/2015 16:55:00      Code(s): SPA     

(Incorporated in the Republic of South Africa)
(Registration number 1960/004393/06)
Share Code: SPA              ISIN: ZAE000006938
(?the company?)


During the period under review, the company experienced extremely harsh trading conditions,
mainly due to the upheavals in the mining industry and at ESKOM, as well as exceptionally high
wage increases negotiated by the unions. These negative effects were exacerbated by the
installation of a new Enterprise Resource Planning (ERP) system, which required the services
of three separate contractors to finally achieve some measure of success. This resulted inter
alia in severe disruption to management information systems.

Shareholders are therefore advised that it is reasonably certain that for the twelve months
ended 28 February 2015, as compared to the comparable prior financial period:
     -      headline earnings/ (loss) per share will be between (15,5) and (17,4) cents per share
           (2014: 17,90 cents), a decrease of between 187 and 197%; and
     -     Earnings/ (loss) per share will be between (17,5) and (20,6) cents per share (2014: 30,2
           cents), a decrease of between 158 and 168%.

The financial information on which this trading statement is based has not been reviewed or
reported on by the company?s external auditors. It is expected that the reviewed provisional
results for the period will be published on or about 29 May 2015.

By order of the board.

SF Pitchford
Company Secretary


27 May 2015

Arbor Capital Sponsors Proprietary Limited

Date: 27/05/2015 04:55:00 Supplied by www.sharenet.co.za                     
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