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Spanjaard Limited - Trading Statement

Release Date: 10/11/2015 17:29:00      Code(s): SPA     
(Incorporated in the Republic of South Africa)
(Registration number 1960/004393/06)
Share Code: SPA                    ISIN: ZAE000006938
(?the Company?)


In compliance with section 3.4(b) of the JSE Listings Requirements, the following trading
statement is provided to the market regarding the anticipated earnings per share and headline
earnings per share for the six months ended 31 August 2015.

The Company is in the process of finalising its results for the six months ended 31 August 2015
and is reasonably certain that it will report a loss per share and headline loss per share of (28.5)
cents per share, a decrease of 261% in comparison to the headline earnings per share of 17.7
cents per share and a decrease of 290% in comparison to the earnings per share of 15.0 cents
per share reported in respect of the six months ended 31 August 2014.

Shareholders are advised that the results for the six months ended 31 August 2015 will include
a restatement of comparative figures in respect of the six months ended 31 August 2014. This
will result in a restated headline loss of (3.0) cents per share and restated loss of (5.6) cents per
share. The restatement is as a result of accounting errors that occurred following the
implementation of a new ERP system in June 2014 and the use of an incorrect exchange rate
when converting the figures for foreign subsidiaries into Rands.

The financial information on which this trading statement is based has not been reviewed or
reported on by the Company?s external auditors.

By order of the board.

L Passmore
Company Secretary


10 November 2015

Arbor Capital Sponsors Proprietary Limited

Date: 10/11/2015 05:29:00 Supplied by www.sharenet.co.za                     
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