Incorporated in the Republic of South Africa
(Registration No. 1924/002590/06)
Share code: AFE ISIN No. ZAE000000220
("AECI" or "the Group" or "the Company")
FURTHER TRADING STATEMENT
In compliance with the JSE Listings Requirements and following the guidance provided to the
market in the Stock Exchange News Service ("SENS") announcement dated 21 July 2015,
shareholders are advised that for the half-year ended 30 June 2015 ("the period") AECI?s headline
earnings per share ("HEPS") are expected to be between 43% and 47% (i.e. 168 cents and 183
cents) higher than the 390 cents of the prior corresponding period. Earnings per share ("EPS") are
expected to be between 7% and 11% (i.e. 38 cents and 59 cents) higher than the 537 cents of the
prior corresponding period.
The increases are attributable to the effects of the bulk sale of the Group?s surplus property assets
at Somerset West to the City of Cape Town ("the transaction") for a cash consideration of R400
million (excluding VAT).
The transaction was approved on 24 June 2015 by the Competition Tribunal of South Africa and,
accordingly, revenue of R400 million and profit from operations of R294 million were recognised.
Earnings in the prior corresponding period were positively impacted by proceeds from the bulk sale
of the Group?s surplus property assets in Modderfontein. However, the EPS and HEPS benefits of
this were partly offset by the negative effects of the strikes in South Africa?s platinum mining sector
on AECI?s businesses between January and June.
The Company is currently finalising its results for the period and it is expected that these will be
released on SENS on or about Tuesday, 28 July 2015.
The financial information on which this trading statement is based has not been reviewed and
reported on by the Company?s external auditors.
24 July 2015
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 24/07/2015 03:30:00 Supplied by www.sharenet.co.za
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