Delta EMD Limited
(Incorporated in the Republic of South Africa)
Registration number 1919/006020/06
Share code: DTA
TRADING STATEMENT FOR THE HALF YEAR ENDED 27 JUNE 2015
Shareholders are referred to the Group's Audited annual financial
results for the year ended 27 December 2014, released on the Stock
Exchange News Service ("SENS") of the JSE Limited on 9 February 2015.
This trading statement is for the half year ending 27 June 2015
("half year") and is intended to apprise shareholders of the expected
Group results for the half year, and of further progress made toward
the sale of assets in connection with the discontinuation of the
Agreements for the salvage and sale of the majority of the Nelspruit
plant and equipment, with a book value of R35.2 million, were
concluded during April 2015 for a sale value of R40.2 million. All
suspensive conditions for these agreements were fulfilled by 27 June
2015. The sale of all remaining Nelspruit plant and equipment with a
book value of R5.9 million will be concluded during the remainder of
Negotiations for the sale of the Nelspruit land (book value R25.9
million), including the remaining infrastructure and buildings which
were not earmarked for demolition, continue.
The salvage, demolition and remediation of the Group's Nelspruit site
are the remaining steps toward the discontinuation of the Group's
business and realisation of value for its assets. Progress on these
fronts remains to plan with completion targeted for the end of 2015.
The Group forecasts a loss per share for the period of between 16.27
cents and 18.31 cents reflecting a decrease of between 91.9% and
90.9% compared with the period ended 27 June 2014 (2014: loss per
share of 201.6 cents) and headline loss per share for the period of
between 32.54 cents and 34.58 cents reflecting a decrease of between
83.8% and 82.8% compared with the period ended 27 June 2014 (2014:
headline loss per share of 201.6 cents). This forecast includes a
profit of R8.2 million realised on the sale of the Australia plant
site and on the sales of the Nelspruit plant and equipment concluded
by 27 June 2015, referred to above.
The above financial information on which this trading statement is
based has not been reviewed and reported on by the Group's external
Delta EMD's results for the half year are expected to be released on
SENS on or about 5 September 2015.
20 July 2015
Merchant bank and sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 20/07/2015 11:35:00 Supplied by www.sharenet.co.za
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