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24-Nov-2017
(Official Notice)
Shareholders are advised of the voting results for the annual general meeting (?AGM?) of Assore held on Friday, 23 November 2017 at 10h30 at 10 Fricker Road, Illovo Boulevard. All the resolutions were passed by the requisite majority of Assore shareholders present in person or represented by proxy at the AGM.



24-Oct-2017
(Official Notice)
Shareholders are advised that in compliance with paragraph 16.20(g) and Appendix 1 to Section 11 of the Listings Requirements of the JSE Limited, Assore?s annual compliance report in terms of section 13G(2) of the Broad-Based Black Empowerment Act has been submitted and is available on the company?s website at www.assore.com.
24-Oct-2017
(Official Notice)
Assore shareholders are advised that Assore is posting its integrated annual report, including a summary of its audited annual financial statements for the year ended 30 June 2017 (?the IAR?) today, being Tuesday, 24 October 2017. The IAR and the complete set of audited annual financial statements for the year ended 30 June 2017 (?the AFS?) are also available on the company?s website at www.assore.com.



The ?Consolidated income statement? and ?Consolidated cash flow statement? in the documents referred to above remain unchanged from those contained in the ?Preliminary reviewed results for the year ended 30 June 2017? released on 30 August 2017 (?the Preliminary results?). Subsequent to the release of the Preliminary results, a decrease in comprehensive income of the joint venture as originally reported was recorded, the Group?s share of which is R222 702 000, and has been adjusted for in the IAR and in the AFS. Therefore, ?Total comprehensive income, net of taxation?, and ?Investment in joint venture entity?, as reported in the ?Consolidated statement of comprehensive income? and ?Consolidated statement of financial position? respectively, have been adjusted by this amount, together with the resultant impacts of the same amount in ?Equity attributable to shareholders of the holding company? in the consolidated statements of comprehensive income and financial position. Earnings per share and headline earnings per share as reported in the Preliminary results remain unchanged.



Notice of Annual General Meeting

Notice is hereby given that Assore?s annual general meeting (?AGM?) will be held at Assore?s temporary offices at 10 Fricker Road, Illovo Boulevard, Johannesburg on Friday, 24 November 2017, at 10:30 to transact business as stated in the notice of the annual general meeting posted to shareholders by registered post today, being Tuesday, 24 October 2017.



In accordance with section 59(1) of the Companies Act, the record date for the purposes of establishing which shareholders are entitled to participate in and vote at the AGM will be Friday, 17 November 2017. Accordingly, the last day to trade to be recorded in the share register is Tuesday, 14 November 2017.
30-Aug-2017
(C)
Revenue for the year shot up to R7.2 billion (R2.9 billion). Gross profit jumped to R1.7 billion (R109.6 million). Profit for the year attributable to shareholders multiplied to R5.0 billion (R1.5 billion). In addition, headline earnings per share increased sharply to 5 049 cents per share (1 690 cents per share).



Dividend

The results in this announcement include the interim dividend of 600 cents (200 cents) per share which was declared on 21 February 2017 and paid to shareholders on 20 March 2017. In line with the improved results for the year, the board of directors of Assore (the board) has declared a final dividend of 800 cents (500 cents) per share, making a total dividend in respect of results for the year of 1 400 cents (700 cents) per share. The final dividend will be paid to shareholders on or about 26 September 2017 and, in accordance with IFRS, is not included in the results contained in this announcement as it was declared after year-end.



Company outlook

Prospects for economic growth continue to improve in most regions and underlying market fundamentals remain positive. However, the impact of additional supply of iron ore, particularly from Australia and Brazil, is expected to have a detrimental effect on prices which are likely to decline to levels approximating US dollar 50 per ton by the end of the calendar year. Credit tightening in China, together with weaker sentiment may impact demand and price levels negatively in the short term. Following the release of the revised Mining Charter in June 2017, the mining industry in South Africa faces a high level of uncertainty and the impact of the changes are likely to be negative for the country's mining industry. Further to the factors noted above, the results of the group remain significantly exposed to fluctuations in exchange rates.
17-Aug-2017
(Official Notice)
Shareholders of Assore (?Shareholders?) are advised that market conditions for all of its products for the financial year to 30 June 2017 (?2017?) were better than those for the financial year ended 30 June 2016 (?2016?). Average index prices for iron ore (62% iron content, fines grade, delivered in China) for 2017 were approximately USD 70 per metric ton, compared to USD 51 per metric ton for 2016, an improvement of 37%. Prices for manganese ores across 2017 were approximately double those of 2016, which also led to an increase in prices for manganese alloys, with these increases being realised relatively later in 2017. The market for chrome ore, although volatile, was strong in 2017, with delivered prices for 44% chrome ore material averaging USD 300 per metric ton, compared to USD 150 in 2016. These better prices were augmented by higher sales volumes of iron and chrome ores, which respectively, were 2% and 16% higher in 2017, compared to 2016.



Based on these trading conditions, headline earnings for the financial year to 30 June 2017 are anticipated to increase to between R4 870 million (increase of 179.2%) and R5 380 million (increase of 208.5%) compared to R1 744 million recorded in the previous financial year. Attributable earnings are anticipated to increase to between R4 650 million (increase of 202.1%) and R5 120 million (increase of 232.6%) compared to R1 539 million recorded in the previous financial year. The increased earnings are anticipated to increase headline earnings per share for the twelve months ended 30 June 2017 to between R47.20 (increase of 179.3%) and R52.14 (increase of 208.5%) per share from R16.90 per share for the twelve months ended 30 June 2016. Attributable earnings per share are expected to increase to between R45.07 (increase of 202.3%) and R49.62 (increase of 232.8%) per share from R14.91 per share for the twelve months ended 30 June 2016. Earnings per share calculations are based on a weighted average number of 103.18 million (twelve months ended 30 June 2016: 103.21 million) shares in issue.



The results for the twelve months ended 30 June 2017 are expected to be published on or about Wednesday, 30 August 2017.
03-Jul-2017
(Official Notice)
Shareholders are referred to the announcement released on SENS on 6 December 2016.



Shareholders are advised that Mr Christopher John Cory has retired as an Executive Director and Chief Executive Officer of Assore with effect from 30 June 2017.



In addition, Assore announced that Mr Charles Edward Walters has been appointed as an Executive Director and Chief Executive Officer with effect from 1 July 2017.
02-Mar-2017
(Official Notice)
Assore announced that Ms Delight Aitken has been appointed as an Independent Non-Executive Director of the company, with effect from 1 March 2017.



27-Feb-2017
(Official Notice)
Shareholders of Assore (?Shareholders?) are referred to the ?Results for the half-year ended 31 December 2016?, which included the paragraph ?Declaration of interim dividend?, as released on 22 February 2017. It is noted that ?the dividend? in the amount of 600 cents per share (gross) was declared on 21 February 2016, with a scheduled payment date of 20 March 2017.



On 22 February 2017, the Finance Minister announced that the Dividends Withholding Tax rate would be increased from 15% to 20% as from that date. Furthermore, in terms of the regulations of the South African Revenue Service, companies that are listed on the JSE Ltd. (?the JSE?) are required to withhold dividends tax at the rate applicable on the date the dividend is paid.



Therefore, the information provided in terms of paragraph 11.17 of the Listings Requirements of the JSE, which were previously released as follows:

The local dividend tax (dividend tax) rate of 15% will apply; and

The net local dividend amount is 510,0 cents per share for shareholders liable to pay the dividend tax;



Are hereby amended to read as follows:

The local dividend tax (dividend tax) rate of 20% will apply; and

The net local dividend amount is 480,0 cents per share for shareholders liable to pay the dividend tax.
22-Feb-2017
(C)
Revenue for the interim period soared to R3.3 billion (2015: R1.3 billion) and turnover rose to R2.7 billion (2015: R959 million). Profit for the period attributable to shareholders of the holding company jumped to R2.2 billion (2015: R613.5 million). Furthermore, headline earnings per share were higher at 2 105 cents per share (2015: 715 cents per share).



Dividends

Based on the substantially higher level of earnings for the period, the board has declared an interim dividend of 600 cents (2015: 200 cents) per share, which will be paid to shareholders on 20 March 2017.



Outlook

As was the case in the 2016 calendar year, the growth in the world steel market is expected to be muted, due to significant uncertainties remaining in the global economy, with only the United States showing some signs of a sustainable recovery in its steel market. The better than expected level of Chinese steel production, as well as the increase in crude steel prices in recent months is encouraging and in comparison to 2016, crude steel production is expected to remain relatively flat for the 2017 calendar year. However, the seaborne trade of iron ore worldwide has increased and further increases are anticipated in 2017, with additional supply expected from Australia and South America. Prices for iron ore are expected to remain relatively strong in the near term. Production at Dwarsrivier is anticipated to be maintained at current levels for the remainder of the financial year, and the mine looks to take advantage of better underlying market fundamentals for the production and demand of stainless steel. Prices for chrome ore are expected to remain strong for the near term.



Contrary to the expected near-term prices for iron and chrome ores, prices for the other commodities in which the group trades have come under pressure recently, with prices for high-grade manganese ore declining from the high levels of over USD9 per dmtu, to levels of below USD6 per dmtu. In addition to the impacts of the circumstances set out above, the results of the group remain significantly exposed to fluctuations in exchange rates.

03-Feb-2017
(Official Notice)
03-Feb-2017
(Official Notice)
06-Dec-2016
(Official Notice)
Shareholders are advised that Mr Chris Cory, the chief executive officer of the company, will retire on 30 June 2017 after 28 successful years with the group. The board announce the appointment of Mr Charles Edwards Walters as the chief executive officer of the company with effect from 1 July 2017. Charles will join Assore on 1 April 2017 as CEO designate. Charles has had a long and successful career in mining and industry and joins the Assore Group of companies from the Invicta Group, where he is currently the chief executive officer.

25-Nov-2016
(Official Notice)
Shareholders are advised that the voting results for the annual general meeting (?AGM?) of Assore held 25 November 2016 at 10h30 at Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg were as follows: all resolutions were passed by the requisite majority of Assore shareholders present in person or represented by proxy at the AGM.

26-Oct-2016
(Official Notice)
Assore shareholders are advised that Assore is posting its integrated annual report, including its audited annual financial statements for the year ended 30 June 2016 (?the IAR?) today, being Wednesday, 26 October 2016. The IAR is also available on the company?s website at www.assore.com.



The financial results contained in the IAR have not been amended from those released in the final results announcement made on 7 September 2016. However, the IAR contains additional information pertaining to the paragraph entitled ?Event after the reporting period?, as contained in the final results announcement, in which it was noted that the fair values of assets acquired and liabilities assumed by Dwarsrivier Chrome Mine (Pty) Ltd. (?DCM?) were in the process of being determined. Between 7 September 2016 and 19 October 2016, being the date of the approval by the Board of the IAR, the fair values of assets acquired and liabilities assumed by DCM have been determined and a summary of the business combination, relating to the acquisition of DCM, per note 36 to the consolidated annual financial statements, is as follows:



R?000

Net assets acquired, at fair value - 1 290 438

Deferred tax liability raised in respect of the fair value of assets acquired and liabilities assumed - (210 617)

Fair value of interest already held by the group - (494 955)

Fair value of purchase consideration - (540 207)

Bargain purchase gain on acquisition - 44 659



The annual financial statements were audited by Ernst - Young Inc. and their audit report is available for inspection at Assore`s registered office.



Notice of Annual General Meeting

Notice is hereby given that Assore?s annual general meeting will be held at 15 Fricker Road, Illovo Boulevard, Johannesburg on Friday, 25 November 2016 at 10:30 to transact business as stated in the notice of the annual general meeting posted to shareholders by registered post today, being Wednesday, 26 October 2016.
07-Oct-2016
(Official Notice)
Shareholders are advised that Assore has terminated the services of Computershare Investor Services (Pty) Ltd. as transfer secretaries with effect from 31 October 2016. Assore has appointed Singular Systems (Pty) Ltd., of 28 Fort Street Birnam, Johannesburg, 2196, (P.O. Box 785261, Sandton, 2146) with effect from 1 November 2016 to replace them.
07-Sep-2016
(C)
29-Jul-2016
(Official Notice)
Assore shareholders are referred to the announcement released on the Stock Exchange News Service of the JSE Ltd. on 25 June 2015, in which they were advised that Assore and African Rainbow Minerals Ltd. (?ARM?) had concluded definitive agreements for Assore?s acquisition of ARM?s 50% indirect interest in the Dwarsrivier Chrome Mine (?Dwarsrivier?), held through Assmang (Pty) Ltd. (?Assmang?), for an amount of ZAR450 million (the ?Purchase Consideration?) (the ?Transaction?).



Assore advised that the applicable conditions precedent have been fulfilled and therefore the Transaction has been completed.



In accordance with the terms of the Transaction, Assore has, in addition to paying the Purchase Consideration, refunded Assmang an amount of approximately ZAR55 million for additional funding advanced to Dwarsrivier?s operations by Assmang between 1 July 2014, being the effective date of the transaction, and 30 June 2016.
27-May-2016
(Official Notice)
Shareholders are advised that Mrs IN Mkhari resigned on 26 May 2016 as an Independent non-executive director from the board of Assore.





19-Feb-2016
(C)
Revenue for the interim period lowered to R1.341 billion (2014: R1.677 billion). Turnover decreased to R959 million (2014: R1.296 billion), profit for the period attributable to shareholders of the holding company fell to R613.5 million (2014: R935.4 million). Furthermore, headline earnings per share dropped to 715cps (2014: 959cps).



Dividends

Based on the decreased level of earnings for the period, the board has declared an interim dividend of 200cps (2014: 300cps), which will be paid to shareholders on or about 14 March 2016.



Outlook

The commodity markets in which the group sells its products are expected to remain oversupplied for the short term, however, the rate at which the oversupply is increasing has slowed and there are signs that some of the more expensive capacity is exiting the relevant markets. Cost reduction initiatives are being undertaken at all operations and significant savings have already been achieved.



In the meanwhile, prices for iron ore have stabilised to some extent at approximately US dollars 40 per metric ton (62% iron ore fines delivered in China), marginally above the lowest prices at which it traded in December 2015 (US dollars 38 per metric ton), while the premium for ?lumpy? grade material has also improved slightly. The manganese ore market also appears to have stabilised, due to a reduction in production by other South African producers. However, prices for this commodity are expected to remain under pressure in the short to medium term.



Exchange rates have a significant impact on the performance of the group. The current level of the rand/US dollar exchange rate, combined with persistently low freight rates, the indices of which are at all-time lows, continue to provide relief in these weak market conditions.



Directors

On 28 February 2016, Mr Alastair Stalker, who joined the group in 1994, will reach retirement. Alastair has been the managing director of Ore - Metal Company Ltd. (Ore - Metal) since 2011 and was appointed as the group?s marketing director in September 2012. He will be succeeded in both these positions from 1 March 2016 by Mr Patrick Sacco, who is currently the deputy managing director of Ore - Metal, as well as alternate director to Mr Desmond Sacco.
04-Feb-2016
(Official Notice)
Shareholders of Assore (?Shareholders?) are referred to the trading statement issued on 20 January 2016. Based on recent financial information received for the six months ended 31 December 2015, headline earnings are anticipated to decline to between R699 million (by 29,4%) and R751 million (by 24,1%) compared to R990 million recorded in the same period of the previous financial year. Attributable earnings are anticipated to decline to between R586 million (by 37,3%) and R632 million (by 32,4%) compared to R935 million recorded in the first half of the previous financial year.



The decreased earnings are anticipated to decrease headline earnings per share for the six months ended 31 December 2015 to between R6,78 (decline of 29,4%) and R7,28 (decline of 24,1%) per share from R9,59 per share for the six months ended 31 December 2014 and attributable earnings per share to between R5,68 (decline of 37,3%) and R6,13 (decline of 32,4%) per share from R9,06 per share for the six months ended 31 December 2014. Earnings per share calculations are based on a weighted average number of 103,21 million (six months ended 31 December 2014: 103,21 million) shares in issue.



The above information has not been reviewed or reported on by Assore's auditors and the results for the six months ended 31 December 2015 are expected to be published on or about Friday, 19 February 2016.





20-Jan-2016
(Official Notice)
27-Nov-2015
(Official Notice)
Shareholders are advised that at the annual general meeting (?AGM?) of Assore held on 27 November 2015 at 10h30 at Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg, all resolutions were passed by the requisite majority of Assore shareholders present in person or represented by proxy at the AGM.
28-Oct-2015
(Official Notice)
Assore shareholders are advised that Assore is posting its integrated annual report, including its audited annual financial statements for the year ended 30 June 2015 today, being Wednesday, 28 October 2015. The integrated annual report is also available on the Company?s website at www.assore.com. Assore is not required to publish an abridged report at this date as the financial information is unchanged from the preliminary announcement made on Wednesday, 26 August 2015. The annual financial statements were audited by Ernst - Young Inc. and their audit report is available for inspection at Assore`s registered office.



Notice of Annual General Meeting

Notice is hereby given that Assore?s annual general meeting will be held at 15 Fricker Road, Illovo Boulevard, Johannesburg on Friday, 27 November 2015 at 10:30 to transact business as stated in the notice of the annual general meeting posted to shareholders by registered post today, being Wednesday, 28 October 2015.

26-Aug-2015
(C)
Revenue for the year increased to R3.4 billion (2014: R2.9 billion). Gross profit rose to R149.3 million (2014: R119.1 million), while profit for the year attributable to shareholders of the holding company decreased to R1.4 billion (2014: R4 billion). Furthermore, headline earnings per share lowered to 1 915cps (2014: 4 098cps).



Dividend

Shareholders are advised that on 25 August 2015, the board declared final gross dividend of 300 cps (2014: 550cps) for the year ended 30 June 2015.



Outlook

Growth in crude steel production is expected to remain subdued for the short to medium term with the Chinese economy, in particular, showing continued signs of weakness and reduced demand. Economic growth in the rest of the world is also expected to remain muted and, combined with the increased supply of low cost iron ore and central and local government support for Chinese iron ore mines, prices are not anticipated to recover over this period and may deteriorate further from current levels. Similar dynamics are evident in the markets for manganese, where additional mine capacity has resulted in oversupply of mostly medium grade ores. This low priced ore and the poor demand from the largest seaborne markets in North America and Europe will continue to depress manganese alloy prices for the foreseeable future. Stainless steel demand appears to be stronger and prices for chrome ore are not expected to change significantly.



The cost of mining and production in South Africa is becoming increasingly expensive, due largely to price increases in electricity and labour which far exceed inflation, resulting in the group embarking on various right-sizing and restructuring projects in an attempt to improve and maintain the competitiveness of its operations. In addition to the impacts of the above market dynamics, the results of the group remain significantly exposed to fluctuations in exchange rates.



30-Jun-2015
(Official Notice)
Shareholders of Assore (?Shareholders?) are advised that US Dollar (?USD?) selling prices for the Group?s iron and manganese products have declined substantially over the current financial year (?the current year?) from those achieved in the previous financial year (?the previous year?). Average index USD prices for 62% iron content fines grade ore delivered in China over the current year to date have averaged approximately USD72 per metric ton, compared to USD123 per metric ton in the previous year. The impact of these lower prices on earnings has been partly offset by a weaker Rand/USD exchange rate which predominated over the current year.



In addition, the Group expects to record impairment charges after taxation against certain of its jointly controlled and owned smelting and mining operations of R411 million and against available-for-sale financial assets of R109 million.



Based on the trading conditions set out above, attributable earnings for the year ended 30 June 2015 are anticipated to decline to between R1 227 million and R1 500 million compared to R4 005 million recorded for the previous year, while headline earnings are anticipated to decline to between R1, 700 million and R2 077 million compared to R4 230 million recorded for the previous year.



These lower levels of earnings are anticipated to result in declines of attributable earnings per share for the year ended 30 June 2015 to between R11,89 and R14,53 from R38,81 per share and headline earnings per share to between R16,47 and R20,13 per share from R40,98 per share. The decline in percentage terms of attributable earnings on the previous year is therefore expected to be between 62,5% and 69,4% and the decline in headline earnings is expected to be between 50,9% and 59,8%. Earnings per share calculations are based on a weighted average number of 103,21 million (year ended 30 June 2014: 103,21 million) shares in issue.



The above information has not been reviewed or reported on by Assore's auditors and the results for year ended 30 June 2015 are expected to be published on or about Thursday, 27 August 2015.
25-Jun-2015
(Official Notice)
15-Jun-2015
(Official Notice)
In compliance with paragraph 3.59 of the Listings Requirements of the JSE Ltd., shareholders are advised that Mr Robert John Carpenter resigned from the board as a non-executive director on 15 June 2015 after 51 years service in the group, 29 years of which were as a director of Assore.
27-Feb-2015
(Official Notice)
Assore and African Rainbow Minerals Ltd. (?ARM?) have reached in principle agreement on Assore?s acquisition of ARM?s 50% indirect interest in the Dwarsrivier Chrome Mine (?Dwarsrivier?) (the ?Transaction?). Dwarsrivier is currently a subsidiary of Assmang (Pty) Ltd. (?Assmang?), the equal joint venture between Assore and ARM, and is the holding company for, amongst its other mining operations, Assmang?s chromite mining operations in the Mpumulanga province of South Africa.



Pursuant to the implementation of the Transaction, Assore will own an effective 100% interest in Dwarsrivier.



The implementation of the Transaction is subject to the execution of definitive agreements and the receipt of relevant regulatory approvals.
12-Feb-2015
(Official Notice)
Shareholders are referred to the announcement of 2 December 2014 and Assore?s half year results announcement released on 11 February 2015. With the admission of IronRidge Resources Ltd. to the Alternative Investment Market of the London Stock Exchange plc (?AIM?) this morning, the subscription has become unconditional and Assore now holds a 29.9% equity interest in the company.
11-Feb-2015
(C)
Revenue for the interim period increased to R1.7 billion (R1.3 billion). Gross profit grew to R79.4 million (R49.2 million). Profit attributable to shareholders tumbled to R935.4 million (R2.4 billion). Furthermore, headline earnings per share fell to 959 cents per share (2 352 cents per share).



Declaration of interim dividend

Shareholders are advised that on 10 February 2015, the board of directors approved interim dividend number 116 of 300 cents per share (gross) for the half-year ended 31 December 2014.



Outlook

A high level of unpredictability continues to undermine the state of the global economy in a number of different countries around the world. Chinese economic growth for 2015 is expected to be at its lowest level in more than 20 years, while uncertainty is apparent in Europe, specifically in the Eurozone where quantitative easing will commence shortly and the euro weakened by political tensions in Greece and the Ukraine. The Japanese economy is in recession, however, the outlook for India is promising, on the back of recent political changes. These conditions should result in prices of the group?s products remaining under pressure, with the index price for iron ore expected to trade in a range of between US dollar 55 and 75 for the short to medium term. Prices for manganese ores and alloys have declined recently and are expected to remain at depressed levels in the short term.



Some respite on margins is being experienced, however, due to reduced freight rates, on the back of the recent collapse in crude oil prices. Further benefit is being realised by the group on the sale of ?lumpy? iron ore grades, with spot premiums in this market currently exceeding US dollar 20 per ton. The prevailing level of the Rand/US dollar exchange also enhances the group?s results, relative to previously reported results.
26-Jan-2015
(Official Notice)
Assore announced the appointment of the following independent non-executive directors, with effect from 2 February 2015:

* Ms Thandeka Mgoduso, who also serves as an independent non-executive director on the boards of the South African Reserve Bank, Tongaat Hulett and Air Traffic Navigation Services.

* Mrs Ipeleng Nonkululeko Mkhari, who is the founder and CEO of Motseng Investment Holdings, and serves as an independent non-executive director on the boards of KAP Industrial Holdings, Nampak and South African Property Owners Association (SAPOA).
02-Dec-2014
(Official Notice)
African Rainbow Minerals Ltd. ("ARM") and Assore announced on 29 April 2014 that Assmang (Pty) Ltd. (Assmang) intended to subscribe for a 19.9% equity interest in IronRidge Resources Ltd. (IronRidge), an Australian registered company that is currently focused on the exploration of its iron ore prospecting licences in Gabon. The conditions precedent to the subscription were not met by the due date, with the result that the relevant transaction agreements lapsed. Assmang has subsequently decided not to pursue an investment in IronRidge. Assore has, however, decided to pursue the opportunity to invest in IronRidge.



IronRidge is set to list on the Alternative Investment Market of the London Stock Exchange plc (AIM) in January 2015. In terms of a Share Subscription Agreement concluded between Assore and IronRidge, Assore will subscribe for 70.833 million shares in IronRidge, which, depending on the amount of equity raised by IronRidge, will result in Assore holding between 26.7% and 30.3% of IronRidge, for a consideration of GBP6.98 million. The subscription will be completed pursuant to the fulfilment of certain conditions, which include the admission of IronRidge to AIM and the approval of IronRidge?s shareholders at a general meeting expected to be held in Australia in early January 2015.



IronRidge holds three prospecting licenses in Gabon, covering approximately 5 352km2, the exploitation of which could potentially create world class iron ore mining projects. The Tchibanga and Tchibanga North license areas in Gabon are located about 60km from the coast and the port of Mayumba. The Belinga Sud license area lies within 140km of Booue town on the Trans?Gabon railway. All the above opportunities are early-stage. The board of directors of Assore, however, believes in the long-term potential of IronRidge. Assore?s interest in the company offers it exposure to some of West Africa?s most promising iron ore opportunities and could facilitate Assore?s long-term access to high grade iron ore with competitive capital and operating costs.



This investment in IronRidge forms an important component of Assore?s objectives to evaluate, secure and develop long-term, value enhancing, strategic investments on the African continent and elsewhere.
28-Nov-2014
(Official Notice)
Shareholders are advised that at the annual general meeting (?AGM?) of Assore held on 28 November 2014 at 10h30 at Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg, all resolutions were passed by the requisite majority of Assore shareholders present in person or represented by proxy at the AGM.
14-Nov-2014
(Official Notice)
Shareholders of Assore ("Shareholders") are advised that USD export selling prices for iron ore have continued to decline from the levels recorded towards the end of the previous financial year. The prices realised for fines grade iron ore delivered in China over the last quarter of the Group?s previous financial year, which averaged approximately USD104 per metric ton, have since declined to approximately USD75 per metric ton. The impact of these lower prices on earnings has been partly offset by a weaker Rand/USD exchange rate during the period to date, compared to the same period in the previous financial year.



Based on the trading conditions set out above, earnings for the six months ended 31 December 2014 are anticipated to decline to between R912 million and R1 113 million compared to R2 427 million recorded for the six months ended 31 December 2013 ("the previous period"). The lower level of earnings is anticipated to result in declines of attributable earnings per share and headline earnings per share for the six months ended 31 December 2014 to between R8.83 and R10.79 per share, from R23.52 per share for the previous period, which equates to a decline of between 37.5% and 45.9% of attributable and headline earnings per share of the previous period. Earnings per share calculations are based on a weighted average number of 103.21 million (six months ended 31 December 2013: 103.21 million) shares in issue.



The results for the six months ended 31 December 2014 are expected to be published on or about Wednesday, 11 February 2015.
28-Oct-2014
(Official Notice)
Assore shareholders are advised that Assore is posting its integrated annual report, including its audited annual financial statements for the year ended 30 June 2014 on Tuesday, 28 October 2014. The integrated annual report is also available on the Company's website at www.assore.com.



Assore is not required to publish an abridged report at this date as the financial information is unchanged from the preliminary announcement made on Wednesday, 3 September 2014. The annual financial statements were audited by Ernst - Young Inc. and their audit report is available for inspection at Assore's registered office.



Notice of Annual General Meeting

Notice was given that Assore's annual general meeting will be held at 15 Fricker Road, Illovo Boulevard, Johannesburg on Friday, 28 November 2014 at 10:30 to transact business as stated in the notice of the annual general meeting posted to shareholders by registered post on Tuesday, 28 October 2014.
03-Sep-2014
(C)
08-Aug-2014
(Official Notice)
Shareholders of Assore are advised that headline earnings for the current financial year ("2014") are anticipated to increase to between R4.0 billion and R4.5 billion compared to R3.5 billion recorded in the previous financial year ("2013").



Compared to 2013, average prices in US dollars for the group's products were marginally lower for 2014. Prices for iron ore showed higher levels of volatility and declined significantly during the second half of 2014. These declines in prices were more than offset by a weaker Rand/US dollar exchange rate during 2014, which resulted in turnover for Assmang (Pty) Ltd. ("Assmang") increasing by 12%, compared to 2013, with a corresponding improvement in commissions earned by the group on Assmang's sales. Assore's 50% interest in Assmang is accounted for on the equity accounting basis.



Based on the trading conditions set out above, earnings per share for the year ended 30 June 2014 are anticipated to increase to between R36.78 and R41.63 per share from R33.20 (restated) per share for the year ended 30 June 2013 and headline earnings per share are expected to increase to between R38.76 and R43.60 per share from R34.24 (restated) per share for the year ended 30 June 2013. Earnings per share calculations are based on a weighted average number of 103.21 million (year ended 30 June 2013: 103.21 million) shares in issue.



The results for the group for the year ended 30 June 2014 are expected to be published on or about 4 September 2014.
29-Apr-2014
(Official Notice)
Assmang has entered into a Share Subscription Agreement with IronRidge Resources Ltd. ("IronRidge"), an Australian registered company that is currently focused on the exploration of its iron ore prospecting licences in Gabon. In terms of the Share Subscription Agreement, Assmang has subscribed for a 19.9% equity interest in IronRidge for a consideration of GBP11.74million. The subscription will be completed pursuant to the fulfilment of certain conditions, which include the admission of IronRidge to the Alternative Investment Market (AIM) of the London Stock Exchange plc.



IronRidge holds three prospecting licenses in Gabon, covering approximately 5 352km2 , the exploitation of which could potentially create world class iron ore mining projects. The Tchibanga and Tchibanga North license areas in Gabon are located about 60km from the coast and the port of Mayumba. The Belinga Sud license area lies within 140km of Booue town on the Trans-Gabon railway.



All the above opportunities are early-stage. The Assore and ARM Boards of Directors however believe in the long-term potential of IronRidge. Its interest in the company offers Assmang exposure to some of West Africa?s promising iron ore opportunities and could facilitate Assmang's long-term access to high grade iron ore with competitive capital and operating costs. This investment in IronRidge forms an important component of Assore and ARM's objectives to evaluate, secure and develop long-term, value enhancing, strategic investments on the African continent and elsewhere.
12-Feb-2014
(C)
Revenue for the interim period shot up to R1.3 billion (R988.1 million) whilst gross profit grew to R49.2 million (R35.4 million). Profit attributable to shareholders of the company more than doubled to R2.4 billion (R1.1 billion). In addition, headline earnings per share jumped to 2 352cps (1 072cps).



Dividend

The results in the announcement include the final dividend relating to the previous financial year of 350 cents (300 cents) per share, which was declared on 27 August 2013 and paid to shareholders on 23 September 2013. Based on the increased level of earnings for the period, the Board has declared an interim dividend of 450 cents (250 cents) per share, which will be paid to shareholders on or about 10 March 2014.



Outlook

Robust steel production in China and the rest of the world during this reporting period supported the demand for the group's products and prices were stronger than anticipated. However, the short-term outlook for the Chinese steel industry is clouded by environmental concerns and the gradual transition from an economy based on high fixed domestic investment to a more consumer oriented economy. Nevertheless, the group expects that world steel production will continue to grow from the record levels of 2013 and thus demand for the group's products should increase.



However, some concern exists regarding supply side developments in all of the group's markets. Australian miners exported over 90 million tons of additional iron ore in the 2013 calendar year and a similar increment is expected during this calendar year. Manganese ore producers, particularly in South Africa, continue to ramp up production, while South African chrome ore exports are at record levels and are increasing.



The group's markets are thus finely balanced and its results remain exposed to fluctuations in the rand/US dollar exchange rate, which has already weakened significantly since the start of the new calendar year.
03-Feb-2014
(Official Notice)
Shareholders of Assore were advised that US Dollar selling prices for iron ore for the first half of the current financial year were significantly higher than those for the six-month period ended 31 December 2012 ("the previous period"). The impact of these higher prices on earnings was exacerbated by a weaker Rand/US Dollar exchange rate during the period, however, export sales tonnage for iron ore was marginally lower.



Trading conditions in the Group's other markets improved over the previous period, with prices for manganese and chrome ores remaining consistent, but prices for manganese alloys were generally lower.



Based on the trading conditions set out above, earnings for the six months ended 31 December 2013 are anticipated to increase to between R2 340 million and R2 490 million compared to R1 106 million recorded in the previous period.The higher level of earnings are anticipated to increase attributable earnings per share and headline earnings per share for the six months ended 31 December 2013 to between R22.67 and R24.13 per share, from R10.72 per share. The Group has adopted certain changes to its accounting policies, following changes to International Financial Reporting Standards ("IFRS").There has been no impact on the earnings of the Group as previously reported due to these changes. Earnings per share calculations are based on a weighted average number of 103,21 million (six months ended 31 December 2012: 103,21 million) shares in issue. The results for the six months ended 31 December 2013 are expected to be published on or about Thursday, 13 February 2014.
29-Nov-2013
(Official Notice)
Shareholders of Assore are advised that at the annual general meeting of Shareholders held (the Annual General Meeting), all the ordinary and special resolutions as set out in the notice of Annual General Meeting dated 29 October 2013, were approved by the requisite majority of Shareholders present or represented by proxy thereat. The special resolutions passed at the Annual General Meeting will be filed with, and registered where required, by the Companies and Intellectual Property Commission.

29-Oct-2013
(Official Notice)
Assore shareholders are advised that Assore is posting its integrated annual report, including its audited annual financial statements for the year ended 30 June 2013 today, being Tuesday, 29 October 2013.

The integrated annual report is also available on the Company's website at www.assore.com.



Assore is not required to publish an abridged report at this date as the financial information is unchanged from the preliminary announcement made on Wednesday, 28 August 2013. The annual financial statements were audited by Ernst - Young Inc. and their audit report is available for inspection at Assore's registered office.



Notice of Annual General Meeting

Notice is given that Assore's annual general meeting will be held at 15 Fricker Road, Illovo Boulevard, Johannesburg on Friday, 29 November 2013 at 10:30 to transact business as stated in the notice of the annual general meeting posted to shareholders by registered post today, being Tuesday, 29 October 2013.
28-Aug-2013
(C)
Revenue for the year increased to R14.2 billion (2012: R13.6 billion). Gross profit rose to R5.7 billion (2012: R5.6 billion), while profit for the year attributable to shareholders of the holding company lowered to R3.4 billion (2012: R4 billion). Furthermore, headline earnings per share weakened slightly to 3 423cps (2012: 3 519cps).



Dividend

In line with the results for the year, the directors of Assore (the board) have declared a final dividend of 350cps (2012: 300cps), making a total dividend in respect of profit for the year of 600cps (2012: 550cps).



Outlook

The level of global crude steel production is expected to decline in the short term, which, together with more iron ore becoming available from new and established Australian producers, is expected to cause downward pressure on iron ore prices. Stocks of iron ore in China have stabilised at low levels, which should counteract any significant decline in selling prices. New entrants from South Africa into the manganese ore market are creating downward pricing pressure on medium grade manganese ore, which is also negatively impacting on high grade ore. Additional downward pricing pressure is expected on manganese ores for the foreseeable future due to increased volumes becoming available from producers in Australia and Gabon. The level and impact of state and regulatory intervention in the significant global economic powers remains unclear, creating a lack of certainty over the extent of global economic growth in the short, to medium term. Whilst it is expected that sales volumes are not likely to change significantly, the factors mentioned above could have a significant impact on the selling prices of the Groups products. The Group remains exposed to fluctuations in exchange rates.
19-Aug-2013
(Official Notice)
Shareholders of Assore are advised that headline earnings for the current financial year are anticipated to decrease marginally to between R3.35 billion and R3.65 billion compared to R3,7 billion recorded in the previous financial year ("2012"). Despite the decrease in headline earnings announced for the first half of R1.1 billion (2012: R2.1 billion), the Group recorded record sales volumes of iron, and chrome ores, in the second half, which, combined with a weaker Rand/US Dollar exchange rate over this period has resulted in a considerable increase in headline earnings for the second half.



Based on the trading conditions set out above, earnings per share for the year ended 30 June 2013 are anticipated to decrease to between R31.50 and R34.40 per share from R38.27 per share for the year ended 30 June 2012 and headline earnings per share are expected to amount to between R32.45 and R35.35 per share from R35.19 per share for the year ended 30 June 2012. Earnings per share calculations are based on a weighted average number of 103 21 million (year ended 30 June 2012: 105 37 million) shares in issue. The results for the Group for the year ended 30 June 2013 are expected to be published on or about 29 August 2013.
19-Jun-2013
(Official Notice)
Assmang Ltd (Assmang), jointly controlled by Assore Ltd (Assore) and African Rainbow Minerals Ltd (ARM), together with China Steel Corporation (China Steel) and Sumitomo Corporation (Sumitomo) , have completed a definitive feasibility study to establish the financial viability of a manganese alloy smelting facility in Sarawak State, Malaysia.



Assmang is pursuing this initiative to maintain its existing alloy customers and to access growing Asian markets, by leveraging the long term availability of reasonably priced hydro power with guaranteed low escalation rates in the region. To enhance Assmang?s returns from the project, it will sell manganese ore to the new joint venture. China Steel has approved an investment of USD62.46million to acquire a 19% interest, which is linked to the right to purchase 30 000 to 32 000 tonnes of alloys per annum from the project. This approval is subject to Taiwanese government approval. Sumitomo has secured board approval for the project and is pursuing the necessary regulatory approvals.



The boards of directors of both Assore and ARM have conditionally approved the project and anticipate commencing construction during Q1 2014. Commissioning of furnaces would take place in 2016. The project is designed to have a full production capacity of 169 000 tonnes per annum.
13-Feb-2013
(C)
Turnover increased to R5.7 billion (R6.4 billion). Gross profit declined to R1.9 billion (R3 billion). Net attributable profit was lower at R1.1 billion (R2.1 billion). In addition, headline earnings per share fell to 1 072cps (1 921cps).



Dividend

A gross ordinary interim dividend of 250cps has been declared.



Outlook

Subsequent to the leadership change in China, increased economic activity in China has become apparent and has resulted in increased demand for the group's commodities. However, the resultant recovery in economic growth is fragile. In addition, the steel industry in Europe continues to be in a state of decline, albeit at a slower rate than in the previous calendar year. Whilst there are signs of a recovery in the United States economy, it is unclear as to the strength of this recovery. Recent increases in iron ore prices have been maintained and it is anticipated that prices for the remainder of the financial year will stabilise at levels higher than those for the first half of the financial year. Shortages of certain grades of manganese ore continue to support higher prices for some of the group's manganese products. The group's results remain exposed to fluctuations in the rand/US dollar exchange rate.
04-Feb-2013
(Official Notice)
Shareholders of Assore were advised that US dollar selling prices for iron ore for the first half of the current financial year were significantly lower than those for the six-month period ended 31 December 2011. The impact of these lower prices was partly offset by increased sales volumes of iron ore, higher prices for certain of the group's manganese products and a weaker rand/US dollar exchange rate in the current financial year.



Trading conditions in the iron ore market were volatile due to weaker Asian demand and continuing sovereign debt issues in Europe. Iron ore prices started to recover over the fourth quarter of 2012 and are currently at levels higher than the average of the half year under review. Global shortages of certain grades of manganese ore that the group produces have resulted in a slight increase in the prices of these grades.



Based on the trading conditions set out above, earnings for the six months ended 31 December 2012 are anticipated to decline to between R1 035 million and R1 145 million compared to R2 129 million recorded in the first half of the previous financial year. The lower level of earnings are anticipated to reduce attributable earnings per share and headline earnings per share for the six months ended 31 December 2012 to between R10.03 and R11.09 per share, from R19.78 per share and R19.21 per share respectively for the six months ended 31 December 2011. Earnings per share calculations are based on a weighted average number of 103.21 million (six months ended 31 December 2011: 107.64 million) shares in issue. The results for the six months ended 31 December 2012 are expected to be published on or about Thursday, 14 February 2013.
30-Nov-2012
(Official Notice)
Shareholders of Assore were advised that at the annual general meeting of shareholders held today ("the Annual General Meeting"), all the ordinary and special resolutions as set out in the notice of Annual General Meeting dated 29 October 2012, were approved by the requisite majority of Shareholders present or represented by proxy thereat.



The special resolutions passed at the Annual General Meeting will be filed with, and registered where required, by the Companies and Intellectual Property Commission.
05-Nov-2012
(Official Notice)
Assore shareholders are advised that Assore is posting its audited annual financial statements for the financial year ended 30 June 2012 on 5 November 2012 and is available on the company's website, at www.assore.com. Assore is not required to publish an abridged report at this date as the financial information is unchanged from the preliminary announcement made on Monday, 3 September 2012.
29-Oct-2012
(Official Notice)
Notice is hereby given that the annual general meeting of Assore shareholders will be held at Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg, on Friday, 30 November 2012 at 10:30, to transact the business contained in the notice of the annual general meeting, posted to shareholders by registered post today, being Monday, 29 October 2012 and is available on the company's website, at www.assore.com.
15-Oct-2012
(Official Notice)
Assore announce that Mr Sydney Mhlarhi has been appointed as an independent non-executive director on the Assore board with effect from 15 October 2012. He will also serve on the Group?s Audit and Risk Committee.
03-Sep-2012
(C)
Revenue increased to R13.8 billion (R11.2 billion). Gross profit surged to R5.6 billion (R4.5 billion). Net attributable profit rose to R4 billion (R3.2 billion). In addition, headline earnings per share skyrocketed to 3 519cps (2 690cps).



Dividend

A final ordinary dividend of 300cps has been declared.



Outlook

Sovereign debt issues in Europe, the apparent economic slowdown in China and subdued recovery in the United States, continue to hamper world economic growth, which is critical to the level of global steel production and predicting the group's performance. Although world steel production in the first half of calendar 2012 was at record levels, this level is expected to decline over the next six months, which could result in a reduction in demand for the group's products. In addition, global supply of the group's products has increased which has put pressure on prices. This, together with the volatility in exchange rates, makes it difficult to comment on the performance of the group for the next six months with any confidence.
22-Aug-2012
(Official Notice)
Shareholders of Assore are advised that attributable earnings for the current financial year ("2012") are anticipated to increase to between R3.8 billion and R4.2 billion compared to R3.2 billion recorded in the previous financial year ("2011"). Sales volumes of iron ore for 2012 were 47% higher than those for 2011, resulting in an increase in the contribution to earnings from the sales of iron ore. While US Dollar sales prices for all of the Group's products were lower, the weaker Rand/US Dollar exchange rate across 2012 maintained Rand prices for the Group's products at similar levels to those recorded in 2011.



The group's third empowerment transaction was completed during 2012, resulting in the entire BEE ownership of 26% becoming broad-based. In terms of the transaction, 11,8% of Assore's issued ordinary shares were acquired by a special-purpose vehicle ("SPV") on 19 August 2011. As Assore has provided security to the SPV in order to repay its debt, these shares are recognised as treasury shares under International Financial Reporting Standards ("IFRS") and the weighted number of treasury shares has therefore increased to 34.24 million shares from 19,94 million shares in 2011.



Based on the trading conditions set out above, earnings per share for the year ended 30 June 2012 are anticipated to increase to between R36.00 and R40.00 per share from R26.91 per share for the year ended 30 June 2011 and headline earnings per share to between R33.00 and R37.00 per share from R26.90 per share for the year ended 30 June 2011. Earnings per share calculations are based on a weighted average number of 105.37 million (year ended 30 June 2011: 119.67 million) shares in issue. The weighted average number of shares in issue has decreased as a result of the increase in the group's treasury shares referred to above. The results for the group for the year ended 30 June 2012 are expected to be published on or about 3 September 2012.
02-Aug-2012
(Official Notice)
Shareholders are advised that Mr Crous will retire as an executive director of Assore with effect from 31 August 2012. In addition, Assore announced that the following main board appointments will be effective from 1 September 2012:

* Mr Alastair Duncan Stalker will be appointed as Group Marketing Director; and

* Mr Bastiaan Hendrikus (Tiaan) van Aswegen will be appointed as Group Technical Director.
03-Jul-2012
(Official Notice)
Mr Phillip (Phil) Crous has indicated his intention to take early retirement and will resign from the Assore board on 31 August 2012.
08-May-2012
(Official Notice)
Shareholders are advised that Mr D M J Ncube resigned on 3 May 2012 as an independent non-executive director from the board of Assore.
16-Apr-2012
(Official Notice)
Shareholders are referred to the results for the half year ended 31 December 2011 which were released on the SENS on 15 February 2012 ("the interim results"). Shareholders are advised that the board of directors ("the board") has declared interim dividend number 110 ("the dividend"), of 250 cents (2011:200) per share (gross) for the half year ended 31 December 2011. The dividend has been declared out of accumulated revenue. Shareholders are advised of the following:

* the local dividend tax rate is 15%;

* Secondary Companies Tax (STC) credits available amount to 0.15363 cents per share;

* the net local dividend amount is 212.5 cents per share for shareholders liable to pay the dividends tax and 250 cents per share for shareholders exempt from paying the dividends tax;

* the issued share capital of Assore is 139 607 000 ordinary shares and 20 961 preference shares; and

* Assore's Income Tax reference number is 9045/018/84/4.



The salient dates relating to the interim dividend are as follows:

* Last day for trading to qualify and participate in the interim dividend (and change of address of dividend instructions): Friday, 4 May 2012

* Trading "ex dividend" commences: Monday, 7 May 2012

* Record date: Friday, 11 May 2012

* Dividend payment date: Monday, 14 May 2012.
24-Feb-2012
(Official Notice)
Shareholders of Assore are referred to the circular dated Wednesday, 14 December 2011 relating to Phase II of Assore's Third Empowerment Transaction. The terms used in this announcement are those as defined in the circular. Shareholders are advised that, following the approval of all the special and ordinary resolutions relating to the implementation of Phase II of the Third Empowerment Transaction at the general meeting of Shareholders held on Thursday, 19 January 2012, all remaining conditions precedent in respect of the Third Empowerment Transaction, as set out in the circular, have now been met. Accordingly, Assore has issued the Assore Preference Shares as contemplated in the circular, and the loan provided under the Facility Agreement has been repaid.
15-Feb-2012
(C)
Revenue rose to R6.8 billion (R4.8 billion). Gross profit increased to R3 billion (R2.1billion) and net attributable profit increased to R2.1 billion (R1.4 billion). In addition, headline earnings per share rose to 1921cps (1163cps).



Dividend

The board intends declaring an interim dividend in April 2012 of 250cps, having regard to the requirements of the Companies Act and other regulatory requirements.



Outlook

Chinese steel production has declined for the second consecutive quarter, while sovereign debt issues in Europe persist. Prices for iron ore appear to have settled in a band lower than the high levels experienced in the second half of the previous financial year. Certain high cost Chinese iron ore miners have stopped production as a result, causing reasonably strong demand for seaborne iron ore. Slow economic growth in Europe and elsewhere is also placing pressure on prices of the Group?s other commodities. Since most of the Group?s commodities continue to be exported, it remains significantly exposed to fluctuations in the Rand/US Dollar exchange rate. These factors make it difficult to predict the future performance of the Group in the second half of the financial year with any certainty.
31-Jan-2012
(Official Notice)
25-Nov-2011
(Official Notice)
Shareholders of Assore are advised that at the annual general meeting of shareholders held ("the Annual General Meeting"), all the ordinary and special resolutions as set out in the notice of Annual General Meeting dated 24 October 2011, were approved by the requisite majority of shareholders present or represented by proxy thereat, other than Ordinary Resolution Number 3 relating to the re- election of Ms ZP Manase as a director, which was withdrawn. Ms Manase resigned as a director of Assore on 1 November 2011. The special resolutions passed at the Annual General Meeting will be filed with, and registered where required, by the Companies and Intellectual Property Commission.

01-Nov-2011
(Official Notice)
Shareholders are advised that Ms Zodwa Penelope Manase resigned from the board on 1 November 2011 due to potential conflict of interest with professional responsibilities.
24-Oct-2011
(Official Notice)
Assore shareholders are advised that Assore is posting its audited annual financial statements for the financial year ended 30 June 2011 today, being Monday, 24 October 2011. Assore is not required to publish an abridged report at this date as the financial information is unchanged from the preliminary announcement made on Thursday, 25 August 2011. The annual financial statements were audited by Ernst - Young and their audit report is available for inspection at Assore's registered office. Notice is hereby given that the annual general meeting of Assore shareholders will be held at Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg, on Friday, 25 November 2011 at 10:30, to transact the business as stated in the notice of the annual general meeting which is included as an insert in the integrated annual report.
11-Oct-2011
(Official Notice)
Assore announced the appointment of the following alternate directors, with effect from 14 October 2011:

* Mr Alastair Duncan Stalker has been appointed as an alternate director to Mr Christopher John Cory. Mr Stalker is the Managing Director of Ore - Metal Company Ltd, a wholly owned subsidiary of Assore; and

* Mr Bastiaan Hendrikus (Tiaan) van Aswegen has been appointed as an alternate director to Mr Phillip Christiaan Crous. Mr van Aswegen is a Consulting Metallurgist in the Assore Group.
06-Oct-2011
(Official Notice)
Assore announced that Ms Zodwa P Manase has been appointed as an independent non-executive director to the Assore board with effect from 7 October 2011.
05-Sep-2011
(Official Notice)
On 2 September 2011, Dr Johannes van der Horst indicated his intention to retire from the Assore board (the Board), with effect from 31 December 2011.
25-Aug-2011
(C)
Revenue increased to R11.2 billion (R7.6 billion). Gross profit surged to R4.5 billion (R2.3 billion). Net attributable profit more than doubled to R3.2 billion (R1.5 billion). In addition, headline earnings per share skyrocketed to 2 690c (1 248cps).



Dividend

A final ordinary dividend of 250cps has been declared.



Outlook

Although it is anticipated that world steel production will reduce marginally in the second half of the calendar year, from the record levels in the first half of the year, the iron ore market is expected to remain tight due to continued strong levels of production in Asia. The world manganese and chrome ore and alloy markets are currently in oversupply, and although prices appear to have stabilised, it is unlikely that there will be a significant recovery in prices in the short term. Further short term volatility is also expected, due to the sovereign debt issues in the United States, and certain European countries. Of particular concern to the group, are the continuing increases in the cost prices of electricity and other local inputs, which are placing pressure on the sustainability of its smelting operations. Assmang and Transnet continue to negotiate increased capacity allocation for iron and manganese ores railed from the Northern Cape. Compounded by the above, the results of the group remain significantly exposed to fluctuations in exchange rates.
19-Aug-2011
(Official Notice)
Shareholders of Assore are referred to the circular dated 8 July 2011 ("the circular") relating to the financial assistance to be provided by Assore to MS904 for the purposes of, or in connection with, the acquisition by MS904 of the sale shares from MS343, a wholly-owned subsidiary of Shanduka Resources, in order to facilitate the third empowerment transaction (using the terms defined in the circular).



Shareholders are advised that, following the approval of all the resolutions relating to the financial assistance at the general meeting held on 10 August 2011, all further conditions precedent in respect of the financial assistance, as set out in the circular, have now been met.



Accordingly, Messrs Matamela Cyril Ramaphosa and Rowan Murray Smith, who represented Shanduka Resources on the board of directors of Assore, have resigned from the board with effect from 19 August 2011.
17-Aug-2011
(Official Notice)
Shareholders are advised that trading conditions for the financial year ended 30 June 2011 improved significantly compared to those experienced during the previous financial year, which was severely impacted by the world economic turmoil that commenced in the last quarter of 2008. Demand for all group products was stronger, and prices for iron ore throughout the year were substantially higher. The impact of these higher prices was partly offset by the strong level of the rand, particularly in the second half.



As a result, earnings for the current financial year are anticipated to increase to between R3 050 million and R3 350 million, compared to R1 480 million recorded in the previous financial year. Both attributable and headline earnings per share for the year ended 30 June 2011 are anticipated to be between R25.48 and R27.99 (year ended 30 June 2010: attributable earnings of R12.36 per share, and headline earnings of R12.48 per share). Earnings per share calculations are based on a weighted average of 119.67 (year ended 30 June 2010: 119.68) million ordinary shares issued. The comparatives for earnings per share and weighted average number of ordinary shares in issue have been restated for the sub-division of 5 for 1 ordinary shares on 10 September 2010. The reviewed results for the year ended 30 June 2011 are expected to be published on or about 26 August 2011.
10-Aug-2011
(Official Notice)
Shareholders are advised that, at the general meeting held on Wednesday, 10 August 2011 to consider the special and ordinary resolutions detailed in the circular sent to shareholders on Friday, 8 July 2011, all of the special and ordinary resolutions tabled at the general meeting were approved by the requisite majorities of votes by shareholders.
07-Jul-2011
(Official Notice)
Shareholders are referred to the announcement released on SENS on Tuesday, 28 June 2011 and in the press on Wednesday, 29 June 2011, in which they were advised that Assore and Shanduka Resources have concluded a transaction to facilitate a third BBBEE transaction which enables Assore to secure long term broad-based empowerment ("Third Empowerment Transaction"). The JSE has completed its review of the content of the voluntary circular, to be issued in this respect, earlier than anticipated. Therefore Assore advised shareholders of the revised salient dates and times in respect of phase one of the Third Empowerment Transaction and the related financial assistance provided to Main Street 904 (Pty) Ltd by Assore.



Revised salient dates

* Record date to be eligible to receive the circular and notice of the general meeting : Friday, 1 July

* Last day to trade Assore ordinary shares on the JSE in order to be recorded in the share register on the record date to be eligible to vote at the general meeting : Thursday, 28 July

* Record date to be eligible to vote at the general meeting : Thursday, 4 August

* Last day for receipt of forms of proxy for the general meeting by 10:00 on Friday, 5 August

* General meeting to be held at 10:00 on Wednesday, 10 August

* Announcement of results of the general meeting on SENS on Wednesday, 10 August

* Anticipated implementation of financial assistance on Friday, 19 August.



Circular to shareholders and notice of general meeting

Assore ordinary shareholders were advised that a circular providing additional information on the provision of financial assistance by Assore to MS904 for the purchase of 16 464 450 Assore ordinary shares from MS343 and which contains, inter alia, a notice of general meeting and a form of proxy, will be posted to Assore shareholders on 8 July 2011.
30-Jun-2011
(Official Notice)
Assmang Ltd ("Assmang") announced that, after the successful conversion of the No 5 Furnace at its Machadodorp Works, from the production of charge chrome to high carbon ferromanganese, it has completed the evaluation of the conversion of further furnaces and decided to convert No's 2 - 3 Furnaces to produce high carbon ferromanganese. There are a number of engineering modifications that must be carried out and logistical issues that need to be addressed before the conversion can be implemented. It is thus anticipated that this conversion will commence in the first quarter of 2012, with ferromanganese becoming available from these furnaces around the middle of that year.



This conversion will increase Assmang's production of high carbon ferromanganese by approximately 100 000 tonnes per year, bringing its total capacity to some 375 000 tonnes per year. Core ferrochrome customers will still be supplied from the No 1 Furnace at Machadodorp Works. Assmang is continuing to study the optimisation of alloy production at both its Machadodorp and Cato Ridge Works.
28-Jun-2011
(Official Notice)
28-Jun-2011
(Official Notice)
03-May-2011
(Official Notice)
Assore announce that Mr Donald (Don) Ncube has been appointed as an independent non-executive director to the Assore Board with effect from 3 May 2011.



08-Mar-2011
(Official Notice)
Shareholders are advised that Mr N G Sacco resigned on 7 March 2011 as an alternate director to Mr C J Cory from the board of directors of Assore.
25-Feb-2011
(Official Notice)
Shareholders are referred to the announcement on 11 November 2010, in which Assore announced Mr RJ Carpenter had indicated his intention to retire as an executive director on 28 February 2011. Shareholders are advised that Mr Carpenter will retire as an executive director of Assore with effect from 28 February 2011. The company is pleased to announce that Mr Carpenter will remain on the board as a non-executive director with effect from 1 March 2011.
16-Feb-2011
(C)
Revenue rose to R4.8 billion (R2.8 billion). Gross profit increased to R2.1 billion (R613 million) and net attributable profit increased to R1.4 billion (R338 million). In addition, headline earnings per share rose to 1163cps (282cps).



Dividend

An interim ordinary dividend of 200cps has been declared.



Outlook

Despite record steel production during 2010 and industry forecasts that production in 2011 will be even higher, driven by the demand from China and other Asian countries, the outlook for the Group's commodities is mixed. Iron ore demand and prices continue to be robust, however the market for manganese ore and alloys together with charge chrome and chrome ore are reasonably balanced at present and are not expected to change significantly for the remainder of the year.
07-Feb-2011
(Official Notice)
Shareholders are advised that trading conditions for the first half of the current financial year have improved significantly from those experienced during the first half of the previous financial year, which were brought about by the world economic turmoil that commenced in September of 2008. Despite slightly lower sales volumes for most of the Group`s commodities and the recent strength of the Rand, profit for the period increased strongly compared to the same period in the previous year due to higher US dollar-based commodity prices, in particular for iron ore.



As a result, earnings for the first half of the current financial year are anticipated to increase to between R1 340 million and R1 440 million, compared to R338 million recorded in the first six months of the previous financial year. Both attributable and headline earnings per share for the six months ended 31 December 2010 are anticipated to be between R11,20 and R12,03 (six months ended 31 December 2009: attributable earnings of R2,83 per share, and headline earnings of R2,82 per share). Earnings per share calculations are based on a weighted average of 119,67 (six months ended 31 December 2009: 119,65) million ordinary shares issued. The comparatives for earnings per share and weighted average number of ordinary shares in issue have been restated for the sub- division of 5 for 1 ordinary shares on 10 September 2010. The above earnings per share information has not been reviewed or reported on by Assore's auditors and the results for the six months ended 31 December 2010 are expected to be published on or about 17 February 2011.

11 Nov 2010 10:46:32
(Official Notice)
Assore shareholders were advised that Mr RJ Carpenter has indicated his intention to retire as an executive director of Assore with effect from 28 February 2011 and in anticipation thereof has decided to stand down as deputy chairman of the Assore board with effect from 10 November 2010. With effect from 10 November 2010 Mr EM Southey has been appointed as deputy chairman as well as lead independent non-executive director on the Assore board.
02 Nov 2010 17:00:22
(Official Notice)
Assore shareholders were advised that Assore posted its audited annual financial statements for the financial year ended 30 June 2010 on Tuesday, 2 November 2010. Assore is not required to publish an abridged report at this date as the financial information is unchanged from the preliminary announcement made on Thursday, 2 September 2010. The annual financial statements were audited by Ernst - Young and their audit report is available for inspection at Assore's registered office. Notice was also given that the annual general meeting of Assore shareholders will be held at Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg, on Friday, 26 November 2010 at 10:30, to transact the business as stated in the notice of the annual general meeting which is included in the annual report.
12 Oct 2010 13:44:40
(Official Notice)
Assore shareholders are advised that Mr Brian Hawksworth has stood down as a director of Assore due to ill health.
01 Oct 2010 15:24:51
(Official Notice)
Assore announced that Mr William Frank Urmson has been appointed as an independent non-executive director to the Assore board of directors with effect from 1 October 2010. He will also serve on the group's audit and risk, and remuneration committees.
27-Sep-2010
(Permanent)
Assore Ltd undertook a 5:1 sub-division on 27 September 2010, historical figures have been adjusted.
16 Sep 2010 14:09:05
(Official Notice)
Ordinary shareholders of Assore ("Assore shareholders") are referred to the announcements released on 20 August 2010 and 10 September 2010 regarding the proposed a sub-division of the ordinary share capital of Assore ("Assore shares") on a five for one basis ("the sub-division"). Assore shareholders are further advised that the relevant special resolution has been registered with the registrar of companies. The salient dates and times are as follows:

* Last day to trade in Assore shares with a par value of 2.5 cents each on Thursday, 23 September

* Assore shares with a par value of 0.5 cent each listed Monday, 27 September

* Assore shares with a par value of 2.5 cents each suspended Monday, 27 September

* Trading in Assore shares with a par value of 0.5 cent each commences at 09:00 under the new ISIN: ZAE000146932 and the same JSE code ASR on Monday, 27 September

* Record date for the sub-division on Friday, 1 October

* Replacement certificates reflecting the sub- division will be posted to certificated Assore shareholders whose share certificates have been received by 12:00 on Friday, 1 October 2010 on or about Monday, 4 October

* If share certificates have not been received by 12:00 on Friday, 1 October 2010, replacement share certificates will be posted within five business days of receipt of the share certificates on Monday, 4 October

* Dematerialised Assore shareholders will have their accounts at their CSDP or broker updated on Monday, 4 October

* Assore shares with a par value of 2.5 cents each terminated at the commencement of trade on Monday, 4 October
10 Sep 2010 12:33:44
(Official Notice)
Ordinary shareholders of Assore ("Assore Shareholders") are advised that a general meeting was held on Friday, 10 September 2010 to consider the ordinary and special resolutions relating to the sub-division of Assore's share capital ("Sub-division") as detailed in the circular sent to Assore shareholders. Assore shareholders are further advised that the ordinary and special resolutions tabled at the general meeting were approved by the requisite majorities of votes required from Assore shareholders. The special resolutions will be lodged with the registrar of companies for registration.



Salient dates

*Finalisation date -- Thursday, 16 September 2010

*Last day to trade in Assore Shares with a par value of 2.5 cents each -- Thursday, 23 September 2010

*Shares with a par value of 0.5 cents each listed -- Monday, 27 September 2010

*Shares with a par value of 2.5 cents each suspended -- Monday, 27 September 2010

*Trading in shares with a par value of 0.5 cents each under the new ISIN: ZAE000146932 and the same JSE code ASR -- commences at 09:00 on Monday, 27 September 2010

*Record date for the sub-division replacement certificates reflecting the sub-division will be posted to shareholders whose share certificates have been received by 12:00 on Friday, 1 October 2010 -- 4 October 2010

*If share certificates have not been received, by 12:00 on Friday, 1 October 2010, replacement share certificates will be posted within five business days of receipt of the share certificates.

*Dematerialised Assore shareholders will have their accounts at their CSDP or broker updated on -- Monday, 4 October 2010

*Shares with a par value of 2.5 cents each terminated at the commencement of trade on -- Monday, 4 October 2010



The abovementioned dates and times are South African local dates and times, and are subject to change. Any such material change will be released on SENS and published in the South African press. Share certificates in respect of ordinary shares with a par value of 2.5 cents each may not be dematerialised or rematerialised after Thursday, 23 September 2010.
10 Sep 2010 12:08:00
(Official Notice)
Assmang Ltd ("Assmang") announced that, after the successful conversion of the number five furnace at its Machadodorp Works from the production of charge chrome to high carbon ferromanganese, it is evaluating the conversion of a further two open furnaces (numbers two and three) at the Machadodorp Works for the production of ferromanganese. As announced previously, it remains the aim of the company to optimise alloy production across its facilities. Although most regulatory matters are in place, there are a number of engineering and logistical issues that require resolution before this conversion can be implemented. It is thus anticipated that this conversion would not take place before mid 2011.



Assmang has not been able to consistently meet the strong market demand for high carbon ferromanganese from its Cato Ridge Works and from the number five furnace at the Machadodorp Works. If Assmang proceeds with the proposed conversion, it is anticipated that it will increase Assmang's capacity for high carbon ferromanganese to approximately 400 000 tonnes per annum and make approximately 100 000 tonnes per annum of additional product available to the market. In this event, core ferrochrome customers will still be supplied from the number one furnace at Machadodorp. With the ongoing uncertainties around the availability of electricity for future expansion in South Africa, the proposed conversion would free up sufficient power to allow Assmang to also consider expansion options at its smelters, and studies in this regard are continuing.
02 Sep 2010 12:24:15
(C)
Revenue declined to R7.6 billion (R9.5 billion). Gross profit decreased to R2.3 billion (R4.8 billion) and net attributable profit more than halved to R1.5 billion (R3.2 billion). In addition, headline earnings on a per share basis slumped to 6 241cps (13 772cps).



Dividend

A final ordinary dividend of 1 200 cps has been declared.



Outlook

Markets have recovered from the lows experienced towards the end of 2008 and into 2009. The extent of this recovery has been muted, however, due mainly to the recent pullback in Chinese economic growth and the European debt crisis, placing a degree of pressure on commodity prices in general. Ore and alloy prices for manganese and chrome have recently come under pressure, but iron ore prices remain robust. The pricing convention in the iron ore industry has undergone a structural change with effect from 1 April 2010, where prices are negotiated on a quarterly or spot basis, superseding the previous negotiations, which occurred annually between miners and customers. The new basis is now in line with the pricing convention operating in the manganese ore market. These circumstances, in combination with the group's exposure to fluctuations in exchange rates, make it difficult to estimate developments on group earnings with reasonable assurance or accuracy.
23 Aug 2010 16:36:58
(Official Notice)
Sales volumes for all products have improved compared to the previous financial year, and US dollar prices for all products increased across the year and particularly in the second half of the financial year. Prices for iron ore now exceed the levels they were at in September 2008 when the world economic turmoil commenced, however, prices for manganese ore and alloys, and chrome ore and alloys remain significantly below the levels achieved prior to September 2008. Most of group sales remain priced in US dollars and results have been adversely affected by stronger exchange rates which prevailed throughout the year when compared to exchange rates in the 2009 financial year.



As a result, both attributable and headline earnings per share for the year ended 30 June 2010 are anticipated to be between R57.00 and R64.00 (year ended 30 June 2009: attributable earnings of R136.69 per share, and headline earnings of R137.72 per share). The results for the year ended 30 June 2010 are expected to be published on or about 3 September 2010.
20 Aug 2010 12:25:58
(Official Notice)
17 Feb 2010 15:08:11
(C)
Revenue dropped to R2.8 billion (R6.8 billion). Gross profit decreased to R612.7 million (R4 billion) and net attributable profit slumped to R338.1 million (R3 billion). In addition, headline earnings per share fell to 1 408cps (12 444cps).



Dividend

An interim ordinary dividend of 500cps has been declared.



Outlook

Trading conditions have shown further signs of improvement, and customers and agents are prepared to acquire more ore and alloy inventories. However, it remains unclear as to the degree of recovery in the markets in which the group trades. Commodity prices have increased from the lows experienced in early 2009, and the weak US dollar continues to have a positive impact on these prices, however, with the SA rand trading at relatively strong levels, group revenues remain depressed. The group's performance continues to be significantly exposed to fluctuations in exchange rates as the bulk of the group's sales remain in the export market.
08 Feb 2010 15:03:24
(Official Notice)
Shareholders were advised that the change in trading conditions, brought about by the world economic turmoil which set in at the beginning of October 2008, continued to have a direct and enduring effect on the markets in which the Assore group trades. While sales volumes for all products have exceeded those for the same period in the previous fiscal year, prices achieved have decreased substantially. In addition, markets are priced in US Dollars, and results have been adversely affected by the stronger exchange rates which prevailed over the six months ended 31 December 2009. As a result, attributable earnings per share for the six months ended 31 December 2009 are anticipated to be between R12,00 and R17,00 (six months ended 31 December 2008: R124,61 per share) and headline earnings per share are expected to be between R11,95 and R16,95 (six months ended 31 December 2008: R124,44 per share). Earnings per share calculations are based on a weighted average of 23,93 million (six months ended 31 December 2008: 23,92 million) shares in issue.
19 Jan 2010 16:00:16
(Official Notice)
Assore shareholders are advised that a general meeting was held on Tuesday, 19 January 2010 to consider the ordinary and special resolutions relating to Assore's second empowerment transaction, as detailed in the circular sent to Assore shareholders on Friday, 11 December 2009.



Assore shareholders are further advised that all of the ordinary and special resolutions tabled at the general meeting were approved by the requisite majorities of votes required from Assore shareholders. The special resolutions will be lodged with the Registrar of companies for registration in due course.
11 Dec 2009 13:12:58
(Official Notice)
Shareholders are referred to the announcement released on SENS on Wednesday, 2 December 2009, in which Assore advised that it had concluded agreements in terms of which Assore will increase its black economic empowerment ownership to 26.07% ("second empowerment transaction"). Assore advised that the circular relating to the second empowerment transaction has been posted to all Assore shareholders today, being Friday, 11 December 2009.



In addition, shareholders are hereby advised that Oresteel Investments (Pty) Ltd, holding 53.09% of Assore's current issued ordinary share capital, and Main Street 343 (Pty) Ltd, holding 11.94% of Assore's current issued ordinary share capital, have irrevocably undertaken to vote in favour of all of the special and ordinary resolutions relating to the second empowerment trransaction, which are to be proposed to Assore shareholders at the general meeting to be held on Tuesday, 19 January 2010 (notice of which is included in the circular).
02 Dec 2009 17:27:21
(Official Notice)
The general meeting of Assore shareholders to approve the resolutions relating to the Second Empowerment Transaction will be held at 10:00 on Tuesday, 19 January 2010 at Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg. A circular to shareholders providing additional information on the Second Empowerment Transaction and containing, inter alia, a notice of general meeting and a form of proxy will be posted to Assore shareholders on or about Friday, 11 December 2009.
02 Dec 2009 17:11:54
(Official Notice)
05 Nov 2009 09:04:38
(Official Notice)
Assore shareholders are advised that the audited annual financial statements for the financial year ended 30 June 2009 has been posted on Thursday, 5 November 2009. Assore is not required to publish an abridged report at this date as the financial information contained in the annual financial statements is unchanged from the preliminary announcement made on Thursday, 27 August 2009. The annual financial statements were audited by Ernst - Young Inc. and the audit report is available for inspection at Assore's registered office.



Notice is given that the annual general meeting of Assore shareholders will be held at Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg, on Friday, 27 November 2009 at 10:30, to transact the business as stated in the notice of the annual general meeting which is included in the annual report.
13 Oct 2009 17:45:08
(Official Notice)
Shareholders are advised that Mr J W Lewis resigned on 31 August 2009 as an alternate director to Mr R J Carpenter from the board of directors of Assore. Mr Lewis will retire from the group at the end of the year.
27 Aug 2009 16:10:45
(C)
Revenue decreased from R9.2 billion to R8.8 billion in 2009. Gross profit rose to R4.8 billion (2008:R4.5 billion). Profit attributable to ordinary shareholders increased to R3.2 billion (R3.1 billion). Headline earnings on a per share basis grew to 13 772cps (11 362cps).



Dividends per share

A final dividend of 1000cps was declared for the period under review.



Prospects

Recent conditions in all markets have shown signs of improvement, with increased sales prices being realised. However, it is too early to assess the sustainability of these improvements. Therefore, it is not possible to estimate the extent of the impact of these developments on group earnings with reasonable assurance or accuracy. Assmang's 10 million tons Iron Ore Mine has been completed and approval to increase capacity to 16 million tons per annum has been granted. The group's performance continues to be significantly exposed to fluctuations in exchange rates as the bulk of the group's sales remain in the export market.
12 Aug 2009 16:02:53
(Official Notice)
Despite continued negative trading conditions since October 2008, the Assore group results for the year to 30 June 2009 benefited from the strong demand and high US dollar and Euro prices which prevailed in base mineral markets during the first quarter of the financial year.



As a result, attributable earnings per share for the financial year to 30 June 2009 are anticipated to be between R128,00 and R140,00 (year ended 30 June 2008 : R114,06 per share) and headline earnings per share for the financial year ended 30 June 2009 are expected to be between R128,00 and R142,00 (year ended 30 June 2008 : R113,62 per share). Earnings per share calculations are based on a weighted average of 23,71 million shares in issue (year ended 30 June 2008 : 26,91 million).



The above forecasted earnings per share information has not been reviewed or reported on by the Assore group's auditors and results for the year ended 30 June 2009 are expected to be published on or about 28 August 2009.
12 Aug 2009 14:18:07
(Official Notice)
Assmang Ltd, which is jointly controlled by African Rainbow Minerals and Assore Ltd announced that:

* The 10 million tonne per annum Khumani Iron Ore Mine has been completed on time and within budget.

* The Assmang board of Directors has approved additional capital expenditure of R5.5 billion for the completion of the Khumani Expansion Project, to increase Khumani's capacity from the current level of 10 mtpa to 16 mtpa.



Assmang has received a commitment from Transnet to extend the current Iron Ore Export allocation on the Sishen/Saldanha export channel from 10 mtpa to 14 mtpa, increasing Assmang's export capacity accordingly. This dovetails with the Iron Ore channel expansion from 47 mtpa to 60 mtpa. Assmang will fund the completion of the Khumani Expansion Project utilising existing cash resources, operational cashflows and existing borrowing facilities. The Khumani Expansion Project has robust returns and the high grade iron ore resource, with an excellent stripping ratio of 1.7 over the life of mining operations, ensures competitive mining costs.
14 Apr 2009 17:21:35
(Official Notice)
Due to the ongoing low levels of carbon steel production in our major markets, Assmang Ltd shut down its No 5 High Carbon Ferromanganese Furnace (Capacity +/- 55000 tpa) at the Cato Ridge Works on the 7th April. Furnaces 3 and 4 remain shut down. These furnaces will be kept out of operation until market conditions warrant start up. Cato Ridge Alloys' convertor for production of refined alloys which has not produced since December 2008 remains closed and will be restarted as demand increases. Manganese ore markets remain weak and ore production is being reviewed on an ongoing basis It has also been decided that due to the global reduction in stainless steel production, two charge chrome furnaces at the Machadodorp works will operate until end May 2009 and thereafter all four furnaces will be shut down. Any furnace start ups will be dependant on market conditions. Along with this reduction in ferrochrome production, chrome ore production at the Dwarsrivier Mine will be scaled back commensurately.
26 Feb 2009 18:40:27
(Official Notice)
Shareholders are advised that, at the general meeting held on Thursday, 26 February 2009 to consider the ordinary and special resolutions detailed in the circular sent to shareholders on Tuesday, 3 February 2009, all of the ordinary and special resolutions tabled at the general meeting were approved by the requisite majorities of votes by shareholders. The resolutions will be lodged with the Registrar of Companies for registration in due course.
19 Feb 2009 14:48:31
(C)
Headline earnings for the six months to 31 December 2008 have increased by 357% to R2 976.7 million due to the significant increase in the earnings of Assmang Ltd, and the increased commissions earned on the higher sales of group products. Assore holds a 50% interest in Assmang, which is proportionately consolidated in accordance with International Financial Reporting Standards. Profit attributable to ordinary shareholders surged to R2.98 billion (2007:R670.9 million). HEPS grew to 12 444cps (2007: 2413cps).



Dividends per share

An Interim dividend of 1 000cps was declared for the period under review.



Prospects

Despite the increase in earnings compared to the same period in the previous fiscal year, trading conditions have changed radically since the world economic turmoil set in at the beginning of October 2008. Since the end of the period under review these conditions have deteriorated further making it impossible to determine the outlook for the second half with any certainty or to provide any comment with regard to market recovery. Results of the group continue to be significantly exposed to fluctuations in exchange rates and the bulk of the group's sales remain in the export market.
29 Jan 2009 15:59:22
(Official Notice)
Shareholders are advised that subsequent to the financial year ended 30 June 2008, the Assore group continued to benefit from strong demand and US Dollar and Euro prices in the base mineral markets in which it operates. However these trading conditions have changed radically since the world economic turmoil which set in at the beginning of October 2008 due to a shortage of bank and consumer credit. As a result demand and prices have decreased substantially for all the group's products, with the exception of iron ore where export volumes have remained satisfactory but the spot price has weakened. Results of the group continue to be significantly exposed to fluctuations in exchange rates and have benefitted from the weaker rates which prevailed towards the end of the half year. Attributable earnings per share for the half year to 31 December 2008 are anticipated to be between R120.00 and R130.00. Headline earnings per share are expected to be between R120.00 and R130.00. Earnings per share calculations are based on a weighted average of 23,92 million shares in issue for the half year (half year ended 31 December 2007: 27,00 million). The results for the half year ended 31 December 2008 are expected to be published on or about 19 February 2009.
02 Jan 2009 08:56:58
(Official Notice)
Shareholders are advised that Mr P N Boynton has resigned as a non- executive director from the board of directors of Assore.

Shareholders are advised that Mr E M Southey has been appointed as an independent non-executive director to the board of Assore with effect from 2 January 2009 and he will serve on the Group's audit and remuneration committees.
06 Nov 2008 17:49:17
(Official Notice)
Assore shareholders are advised that Assore posted its audited annual financial statements for the financial year ended 30 June 2008 on Thursday 6 November 2008. Assore is not required to publish an abridged report at this date as the financial information is unchanged from the preliminary announcement made on 29 August 2008. The annual financial statements were audited by Ernst - Young and their audit report is available for inspection at Assore's registered office. Notice is hereby given that the annual general meeting of Assore shareholders will be held at Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg, on Friday, 28 November 2008 at 10:30, to transact the business as stated in the notice of the annual general meeting which is included in the annual report.
04 Sep 2008 17:52:20
(Official Notice)
Shareholders are advised that, at the general meeting held on Thursday, 4 September 2008 to consider the purchase of 10.47% of the issued ordinary share capital of Assore by Assore and its wholly-owned subsidiary from The Standard Bank of South Africa Ltd, as detailed in the circular sent on Tuesday, 12 August 2008, all of the ordinary and special resolutions tabled at the general meeting were approved by the requisite majorities of votes by Assore shareholders. The special resolutions will be lodged with the Registrar of Companies for registration in due course.
29 Aug 2008 17:21:38
(C)
Headline earnings for the year increased by 315.4% to an all-time record for the group of R3.06 billion (2007: R0.74 billion) due to substantially higher earnings for Assmang Ltd (Assmang) and increased commissions received on the higher sales revenue for group products. Assore holds a 50% interest in Assmang which is proportionally consolidated in accordance with group accounting policies. Assmang`s headline earnings for the year increased by 317.0% to R5.55 billion (2007: R1.33 billion) due to the continuing boom in base mineral markets worldwide, driven mainly by the sustained demand from China for products used in the manufacturing of carbon and stainless steels. These market conditions resulted in substantially higher US Dollar and Euro prices for all products and significantly higher sales volumes for manganese ore.



Dividends

In line with the results for the year the board has declared an increased dividend of 1 000 cents (2007: 200 cents) making a total dividend for the year of 1 250 cents per share (2007: 350 cents).



Prospects

The demand for carbon steel materials is expected to remain strong with prices for manganese ore, manganese alloys and iron ore at record levels. Assmang will continue to take full advantage of the Richards Bay and Durban ports to maximise the export of manganese ore. The production of stainless steel is expected to increase marginally worldwide, but there could be some pressure on ferrochrome prices due to increased production volumes. Following a successful pre-feasibility study, agreement has been reached to proceed with a feasibility study on a 6 million ton expansion at Khumani Iron Ore mine estimated to cost R7.3 billion, which would increase annual capacity to 16.0 million tons per annum. Start up expenditure on the study of R1.2 billion has been approved and the study should be completed by the second quarter of calendar 2009. In line with commitments received from Transnet on the additional rail and port capacity required, 4 million tons will be sold in the export market and the balance of 2 million tons will be placed into the local market.
13 Aug 2008 17:11:01
(Official Notice)
Shareholders are advised that since the interim results announcement published on 21 February 2008 the Assore group has continued to benefit from the boom in base mineral markets worldwide. These conditions have resulted in increased US dollar and euro prices for all products and significantly higher sales of manganese ore which were achieved by exporting through the ports at Durban and Richards Bay in addition to the terminal at Port Elizabeth. As a result, attributable earnings per share for the year to 30 June 2008 are anticipated to be between R112.00 and R116.00 (R28.63 per share). Accordingly headline earnings per share are expected to be between R111.00 and R115.00 (R27.20 per share). The final results for the year ended 30 June 2008 are expected to be published on or about Friday, 29 August 2008.
11 Aug 2008 17:40:33
(Official Notice)
25 Jun 2008 09:19:03
(Official Notice)
Assore shareholders are advised that Assore has entered into an arrangement with The Standard Bank of South Africa Ltd in terms of which Standard Bank will:

* purchase 10.47% of Assore`s issued ordinary share capital from Old Mutual Life Assurance Company (South Africa) Ltd at R760 per share amounting to approximately R2.23 billion;

* warehouse such Assore shares acquired from Old Mutual on Assore`s behalf; and

* subsequently sell such Assore shares to Assore at an amount equal to the consideration.



A general meeting of Assore shareholders to approve the resolutions relating to the Standard Bank repurchase and the Assore SubCo repurchase will be held at 10:00 on or about Tuesday, 2 September 2008 at Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg, where the necessary resolutions authorising the Standard Bank and Assore SubCo repurchases will be proposed to Assore shareholders for consideration. A circular providing additional information on the Standard Bank repurchase and the Assore SubCo repurchase, and containing, inter alia, a notice of general meeting and a form of proxy, will be posted to Assore shareholders on or about Friday, 1 August 2008.
24 Apr 2008 17:55:13
(Official Notice)
Further to the cautionary announcement released on 12 March 2008, Assore shareholders are advised that the parties have been unable to reach agreement on the suite of definitive agreements as contemplated in the cautionary announcement, and the discussions in relation thereto have accordingly been terminated. All the parties remain committed to empowerment in the South African mining industry. Assore will actively continue to explore various options that will result in the company meeting the equity ownership targets specified under the Socio-Economic Empowerment Charter for the South African Mining Industry. As a result, the cautionary announcement is hereby withdrawn.
12 Mar 2008 17:31:59
(Official Notice)
21 Feb 2008 17:42:52
(C)
Headline earnings for the six months to 31 December 2007 have increased by 118.3% to R651.6 million due to the significant increase in the earnings of Assmang Ltd (Assmang) further benefiting from the increased commission earned on the sales of group products. Assore holds a 50% interest in Assmang which is proportionately consolidated.



Dividend

Interim dividend of 250cps was declared.



Outlook

Prices and volumes for all the group's products are at all time record levels. Term contracts for manganese ore commencing April 2008 are about to be renewed and US dollar prices in the spot market have increased by over 300% on the previously agreed contract price. This increase will support substantially higher prices for manganese alloys for at least the remainder of the calendar year. Sales volumes of iron ore will rise as additional capacity becomes available at Khumani and contract prices for the year commencing April 2008 are expected to increase by approximately 70%. The demand for ferrochrome and chrome ore remains strong and international market prices have increased accordingly. Production at both the mines and works could be negatively affected by the interruptions to power supply which are being experienced in South Africa at present and the US dollar and Euro exchange rates will continue to be an important factor in the determination of earnings for the remainder of the financial year.
12 Feb 2008 15:58:51
(Official Notice)
Shareholders are advised that the Assore group has continued to benefit from positive market conditions since the final results announcement published on 30 August 2007, with increased sales volumes and increased US Dollar and Euro prices achieved for all products. As a result, attributable earnings per share for the half year to 31 December 2007 are anticipated to be between R22.00 and R26.00 (R11.08 per share). Accordingly headline earnings per share are expected to be between R21.50 and R25.50 (R11.02 per share). Earnings per share calculations are based on a weighted average of 27.00 million shares in issue for the half year (27.08 million). The above earnings forecast information has not been reviewed or reported on by the Assore group's auditors. The interim results for the half year ended 31 December 2007 are expected to be published towards the end of February 2008.
12 Jul 2006 08:25:01
(Official Notice)
Cyril Ramaphosa has been appointed as a non-executive director of Assore with effect from Wednesday 12 July 2006 and Rowan Smith as his alternate.
15 Mar 2006 17:45:03
(C)
14 Feb 2006 13:17:08
(Official Notice)
Assore advised that group earnings have been affected by recent negative market conditions for manganese ore, ferromanganese and charge chrome, resulting in lower sales volumes and lower metal prices. As a result, headline and attributable earnings for the half year ended 31 December 2005 are anticipated to be between R140.0 million and R150.0 million (6 months to 31 December 2004: headline earnings were R195.5 million and attributable earnings were R199.8 million).
01 Feb 2006 17:22:02
(Official Notice)
At the general meeting, the requisite majority of shareholders approved all the ordinary resolutions and special resolutions relating to the acquisition of 15.02% of the share capital by Shanduka Resources. The special resolutions would be lodged for registration with the Registrar of Companies in due course.
30 Jan 2006 17:48:59
(2)
14 Dec 2005 18:35:56
(Official Notice)
Shareholders are referred to the announcement released on Thursday, 10 November 2005, in which they were advised that Assore had concluded agreements in terms of which 15.02% of the issued ordinary share capital of Assore will be acquired by two black economic empowerment entities, namely:

*Shanduka Resources, a subsidiary of Shanduka Group (Pty) Ltd, which will purchase an 11.76% equity interest in Assore; and

*a community trust, which has been formed to benefit broad-based community groupings and which will purchase a 3.26% equity interest in Assore.

General meeting

The general meeting to approve the resolutions relating to the BEE transaction will be held at Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg, at 10:00 on Wednesday, 1 February 2006. A circular providing additional information on the BEE transaction and containing, inter alia, a notice of general meeting and a form of proxy, will be posted to Assore shareholders on Thursday, 15 December 2005.
10 Nov 2005 18:01:09
(Official Notice)
09 Nov 2005 17:22:14
(Official Notice)
Assore and Assmang shareholders are advised that Assore has submitted to the board of directors of Assmang a notice of its firm intention to acquire all the shares in the issued ordinary share capital of Assmang, other than those already held by Assore and ARM. The consideration payable in terms of the offer will be R2 600 in cash for each Assmang share. On this basis, the total consideration amounts to R368 million and values 100% of Assmang at R9.2 billion.



The offer to be proposed by Assore will be implemented by way of a scheme of arrangement, between Assmang and all of its shareholders, other than Assore and ARM. Should the scheme be implemented, Assore will acquire all of the scheme members' issued shares being 141 630 Assmang shares or approximately 4.0% of Assmang's shares.



In addition, Assore and ARM have entered into an agreement, in terms of which Assore will acquire from ARM at the offer price, all of the Assmang shares held by ARM in excess of 50% of the total number of Assmang's shares. As a result, Assore and ARM will each hold 50% of Assmang's shares, will jointly own and control Assmang and the listing of Assmang shares on the JSE will be terminated.



Important dates and times :

*Last day to trade in Assmang shares on the JSE in order to be recorded in the register of members of Assmang to vote at the scheme meeting on Wednesday, 18 January 05

*Record date to vote at the scheme meeting on Wednesday, 25 January 05

*Last day for receipt of forms of proxy for the scheme meeting by 12:00 on Thursday, 26 January 05

*Scheme meeting to be held at 12:00 on Monday, 30 January 05

*Announcement of results of the scheme meeting on SENS on Monday, 30 January 05

*Court hearing to sanction the scheme at 10:00 on Tuesday, 7 February 05

*Announcement on SENS regarding the sanctioning of the scheme on Tuesday, 7 February 05
03 Nov 2005 08:34:40
(Official Notice)
Assore shareholders are advised that Assore posted its audited annual financial statements for the financial year ended 30 June 2005 on Thursday, 3 November 2005. Assore is not required to publish an abridged report at this date because the financial information published on 31 August 2005 is unchanged. The annual general meeting of Assore shareholders will be held at Assore House, 15 Fricker Road, Illovo Boulevard, Johannesburg, on Friday, 25 November 2005 at 10:30.
31 Aug 2005 09:02:57
(C)
Assore increased turnover to R3.1 billion (R2.2 billion) and net profit after tax rose R541 million (R209 million). Headline earnings per share rose to 1833.7cps (583.7cps) and a dividend of 150cps was declared.



Prospects

It is expected that world steel production will exceed the record level of 1.06 billion tons achieved in calendar 2004, mainly driven by China. Iron ore prices should therefore remain strong, but any increase in export volumes will be determined by the logistical capacity through the South African rail and port systems. Demand and price for other products could come under pressure due to the potential for oversupply in international markets as a result of recent price increases. Earnings growth nevertheless remains significantly exposed to movements in the SA Rand against the US Dollar and Euro.
03 Aug 2005 17:28:51
(Official Notice)
Shareholders are advised that the Assore has continued to benefit from positive market conditions since the trading statement issued on 23 May 2005, particularly with respect to sales volumes for manganese ore and manganese alloys and the effects of the weakening rand against the US dollar. As a result, both headline and attributable earnings for the year to 30 June 2005 are anticipated to be between R500m and R520m (year ended 30 June 2004: headline earnings were R1634m and attributable earnings were R1696m). The above earnings forecast information has not been reviewed or reported on by the Assore group`s auditors. The final results for the year ended 30 June 2005 are expected to be published before the middle of September 2005.
09-Feb-2017
(X)
Assore is a mining holding company engaged principally in ventures involving base minerals and metals.



The group?s principal investment is a 50% interest in Assmang (Pty) Ltd. (Assmang) which it controls jointly with African Rainbow Minerals Ltd. (ARM). The group, through its various joint-venture entities and subsidiary companies, is involved in the mining of iron, manganese and chrome ores together with other industrial minerals and the production of manganese alloys. The group is also responsible for marketing all products produced by the Assore and Assmang groups, the bulk of which is exported and the remainder either used in the group?s beneficiation processes or sold?locally.



The company was incorporated in 1950 and its shares are listed on the JSE Securities Exchange (JSE) under ?Assore? in the general mining sector.



26,07% of the company?s shares are controlled by two broad-based black economic empowerment community trusts: the Boleng Trust (14,28%), and the?Fricker Road Trust (11,79%). The Minerals and Petroleum Resources Development Act required that by 1 May 2014, 26% of mining companies? shares are controlled by historically disadvantaged South Africans.


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