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15-Nov-2018
(Official Notice)
The board of directors of Esor ("the Board") hereby notifies shareholders that Haroon Takolia has resigned as an independent non-executive director and as chairman of the audit and risk committee of the company with effect from 14 November 2018.



Haroon was appointed to the board on 16 November 2017.



The board takes this opportunity to express their appreciation to Haroon and extends its best wishes for his future endeavors.
14-Nov-2018
(Official Notice)
13-Nov-2018
(Official Notice)
The board of directors of Esor ("the Board") hereby notifies shareholders of the following resignations:

*Dr Oswald Franks has resigned as independent non-executive director and lead independent non-executive director of the company with effect from 12 November 2018. Ossie has been a pillar of strength since joining the Group in August 2014 and has brought the wisdom of the industry into every possible situation.

*Reneiloe Masemene has resigned as independent non-executive director of the company with effect from 12 November 2018. Reneiloe joined Esor as a non-executive director in August 2016 bringing with her not only legal, social and theoretical skills but also practical experience gained during her employment in the mining industry.



The Board takes this opportunity to express their appreciation to Ossie and Reneiloe and extends its best wishes for their future endeavours.

07-Nov-2018
(Official Notice)
The board of directors of Esor notified shareholders that Bernard Krone has resigned as a non- executive director and Chairman of the company with effect from 6 November 2018.
31-Aug-2018
(Official Notice)
Shareholders are advised that, at the annual general meeting of the Company held on Friday, 31 August 2018, all the resolutions as set out in the notice of annual general meeting were passed except for ordinary resolution 4 regarding the authority to issue unissued shares and ordinary resolution 5 regarding the authority to issue unissued shares for cash.
17-Aug-2018
(Official Notice)
Further to the announcement relating to the business rescue filing in respect of Esor Construction (Pty) Ltd. (?Esor Construction? or ?the Company?) dated 13 August 2018, shareholders are advised that the board of directors of Esor Construction (?the Esor Construction Board?) will work together with the business rescue practitioner in order to try and achieve a successful outcome.



While the Esor Construction Board believes that there is reasonable prospect of rescuing the Company, there is a possibility such outcome will not be achieved.



In addition, the effect of the business rescue proceedings instituted at Esor Construction, on Esor Ltd., are not known.



Accordingly, Esor has requested the suspension of the listing of its securities on the JSE, as it believes this to be both necessary and in the best interests of its shareholders at this point in time. As such Esor has voluntarily suspended the listing of its securities with immediate effect.
13-Aug-2018
(Official Notice)
31-Jul-2018
(Official Notice)
Shareholders are advised that the Company?s integrated annual report, incorporating the audited financial statements for the year ended 28 February 2018, has been posted to Shareholders today, 31 July 2018, and contains no modifications from the abridged summarised consolidated results which were published on SENS on 29 June 2018.



The integrated annual report and the annual financial statements are available on the Company?s website - www.esor.co.za/content/annual-reports.



Notice is hereby given that the annual general meeting of the Company will be held at 10h00 on Friday, 31 August 2018, in the boardroom of the Company at 30 Activia Road, Activia Park, Germiston, to transact business as stated in the Notice of the Annual General Meeting. The record date for the purpose of determining which shareholders are entitled to participate in and vote at the annual general meeting was Friday, 24 August 2018.



Shareholders are further advised that Esor?s B-BBEE annual compliance report in terms of Section 13G(2) of the Broad-Based Black Economic Empowerment Act is available on the Company?s website: www.esor.co.za/sites/default/files/PDF/BBBEE-Compliance-Report.pdf.
31-Jul-2018
(Official Notice)
Shareholders are advised that the Company?s integrated annual report, incorporating the audited financial statements for the year ended 28 February 2018, has been posted to shareholders on 31 July 2018, and contains no modifications from the abridged summarised consolidated results which were published on SENS on 29 June 2018.



The integrated annual report and the annual financial statements are available on the Company?s website - www.esor.co.za/content/annual-reports.



Notice was given that the Annual General Meeting of the Company will be held at 10h00 on Friday, 31 August 2018, in the boardroom of the Company at 30 Activia Road, Activia Park, Germiston, to transact business as stated in the Notice of the Annual General Meeting. The record date for the purpose of determining which shareholders are entitled to participate in and vote at the Annual General Meeting was Friday, 27 July 2018.



Shareholders are further advised that Esor?s B-BBEE annual compliance report in terms of Section 13G(2) of the Broad-Based Black Economic Empowerment Act is available on the Company?s website: www.esor.co.za/sites/default/files/PDF/BBBEE-Compliance-Report.pdf
02-Jul-2018
(Official Notice)
The Johannesburg Stock Exchange (?JSE?) wishes to advise that the company has failed to submit their annual report within the four-month period stipulated in the JSE's Listings Requirements. Accordingly, the company's listing on the JSE trading system has been annotated with an "RE" to indicate that they have failed to submit their annual reports timeously and that the listing of the company?s securities is under threat of suspension and possible removal. If the company still fails to submit their annual report on or before 31 July 2018, then their listings may be suspended. This announcement has been placed by the JSE in the interest of shareholders.



29-Jun-2018
(C)
Revenue for the year decreased to R959.4 million (2017: R1.373 billion), gross loss came in at R117.9 million (2017: profit of R14.5 million), loss attributable to owners of the company widened to R306.9 million (2017: loss of R139.8 million), while headline loss per share rose to 52.1 cents per share (2017: headline loss of 24.4 cents per share).



Dividend

In line with group policy and Companies Act Requirements no dividend has been declared (2017: Nil). It remains the policy of the group to review the dividend policy annually in light of cash flow, gearing, capital requirements and bank covenants.



Company prospects

Looking ahead we are hopeful. We remain a going concern with a number of positive cash flow reliefs outlined above, together with approximately R2 billion in pending awards and almost R4 billion in targeted projects such as the 2B and 2E pipeline contracts in Limpopo and a number of funded projects in Zimbabwe, including the long-awaited Diepsloot mixed housing development for the Department of Human Settlements in Gauteng. We are cautiously optimistic that the new political leadership and agenda will resolve the government bottleneck to project implementation. Government's commitment to raise USD100 billion for investment opportunities also bodes well in this regard.



We remain focused on water, particularly in the Western Cape. The five-year restraint of trade on the geotechnical business expires in November 2018 and we are gearing-up to proactively re-enter the Geotechnical market.



In Africa we continue to focus on Botswana, Zimbabwe and Swaziland as future growth opportunities and align with local partners to improve competitiveness and profitability. In Zimbabwe, particularly, there are some low hanging fruit for the taking in collaboration with our local partners.



We will continue to do what needs be done to return the group to profitability including continuing to restructure, down-scale and learn from past mistakes to prevent future recurrence, while actively seeking out positive opportunity.
21-Jun-2018
(Official Notice)
Esor is currently finalising its financial results for the year ended 28 February 2018 and shareholders are advised that the company expects the basic loss per share to be between 62.6 and 69.4 cents compared to a basic loss per share of 38.1 cent from the previous corresponding period, representing an increased basic loss per share of between 64.2% and 82.2%.



The Company expects the headline loss per share to be between 50.7 and 55.1 cents compared to headline loss per share of 24.4 cents from the previous corresponding period, representing an increased headline loss per share of between 108% and 126%.



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



The company?s financial results for the year ended 28 February 2018 are expected to be released on SENS during the week ending 29 June 2018.



Shareholders are advised that the profit from operations has been negatively affected by further losses incurred on the Northern and Western Aqueduct pipeline projects for eThekwini of R179 million as well as impairments on uncertified revenue to the value of R76 million.



Profit before tax was further negatively impacted by the impairment of goodwill to the amount of R61.8 million.
15-Jun-2018
(Official Notice)
The Johannesburg Stock Exchange ("JSE") advised that the above mentioned company has failed to submit their provisional reports within the three-month period stipulated in the JSE's Listings Requirements.



Accordingly, the company's listing on the JSE trading system have been annotated with an "RE" to indicate that they have failed to submit their provisional reports timeously and that the listing of the company's securities is under threat of suspension and possible removal.



If the abovementioned company still fails to submit their provisional reports on or before 29 June 2018, then their listings may be suspended.



This announcement has been placed by the JSE in the interest of shareholders.

25-May-2018
(Official Notice)
Shareholders are advised that due to delays in confirming various claims and provisions on certain material contracts and the related impact on revenue recognition, the board has decided to postpone the release of the annual financial statements of Esor for the year ended 28 February 2018 (?2018 Annual Results?). The 2018 Annual Results will therefore not be published on SENS by 31 May 2018 as required by the Listings Requirements of JSE Ltd. The 2018 Annual Results are expected to be released on SENS by 29 June 2018.
20-Mar-2018
(Official Notice)
In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, the board of directors of Esor (?the Board?) hereby notifies shareholders that Bruce Atkinson has resigned as chief financial officer of the company with effect from 21 May 2018.



The Board takes this opportunity to thank Mr Atkinson for his valuable contribution and loyal service to the group over the last 10 years and wish him well in his future endeavours. Proceedings to appoint a successor are underway and details will be announced in due course.
16-Nov-2017
(Official Notice)
The Board of Directors of Esor (?the Board?) is pleased to notify shareholders that in terms of paragraph 3.59 of the Listings Requirements of JSE Limited that Haroon Takolia has been appointed as an independent non-executive director of the Company as well as Chairperson of the Audit and Risk Committee. The appointment of Mr. Takolia is effective as from Thursday, 16 November 2017.
02-Nov-2017
(C)
Revenue for the interim period fell 17% to R553.1 million (2016: R666.3 million), gross profit jumped 43% to R30.4 million (2016: R21.2 million), results from operating activities dropped 69.9% to R3.8 million (2016: R12.5 million), profit for the period decreased by 72.9% to R2 million (2016: R7.5 million), while headline earnings per share weakened 80.9% to 0.41 cents per share (2016: 2.15 cents per share).



Dividend declaration

In line with group policy, no dividend has been declared (2016: Nil). It remains the policy of the group to review the dividend policy annually in light of cash flow, gearing, capital requirements and bank covenants.



Company prospects

While we expect challenging conditions to prevail there are several opportunities being pursued as detailed above. Imminent awards totalling in excess of R2 billion, mainly in the bulk water supply, is being awaited. We will continue focusing on water projects such as the desalination projects. In particular, we will focus more on turnkey projects and working with strategic partners to provide a competent and competitive bid for successful implementation.



We believe the group remains stable in challenging conditions.
17-Oct-2017
(Official Notice)
Esor is currently finalising its interim financial results for the six months ended 31 August 2017 and shareholders are advised that the company expects basic earnings per share to be between 0.26 and 0.62 cents (based on 463 737 775 weighted average shares in issue) compared to a basic earnings per share of 2.05 cents from the previous corresponding period (based on 364 941 418 weighted shares in issue) representing a decrease between 70% and 88%.



The Company expects headline earnings per share to be between 0.22 and 0.60 cents compared to headline earnings per share of 2.15 cents from the previous corresponding period, representing a decrease between 72% and 90%.



Compared to the February 2017 headline loss of 24.4 cents, the H1 2018 profit represents a significant improvement in financial performance despite the difficult market conditions.



The company?s interim financial results for the six months ended 31 August 2017 are expected to be released on SENS during the week ending 3 November 2017.
22-Sep-2017
(Official Notice)
The board of directors of Esor notified shareholders that Heather Sonn has resigned as an independent non-executive director of the company as well as chairperson of the audit and risk committee with effect from 27 October 2017.
30-Jun-2017
(Official Notice)
Shareholders are advised that, at the annual general meeting of the Company held on Friday, 30 June 2017, all the resolutions as set out in the notice of annual general meeting were passed.
25-May-2017
(C)
Revenue for the year decreased to R1.373 billion (2016: R1.436 billion). Gross profit dropped to R14.5 million (2016: R82.1 million). Loss for the year attributable to owners of the company came to R139.8 million (2016: profit of R3.7 million). In addition, headline loss per share was recorded at 24.4 cents per share (2016: earnings of 14.4 cents per share).



Dividend declaration

In line with group policy, no dividend has been declared (2016: Nil). It remains the policy of the group to review the dividend policy annually in light of cash flow, gearing, capital requirements and bank covenants.



Company prospects

We expect challenging conditions to prevail and the trading environment for the next 12 or so months remains uncertain. However, we have secured work to see us through the cycle ahead and with substantial pending awards in excess of R1,6 billion we have not been aggressively chasing new work. We have been notified by the Department of Water and Sanitation that subject to the Department allocating the necessary budget to the Olifants River Phase 2D project in Limpopo before March 2018, we will be awarded this project to the value of R1,3 billion. The two-year pipeline project for the Department of Water and Sanitation encompasses the manufacture, delivery, installation, testing and commissioning of civil, mechanical and electrical work of the raw water pipeline in Steelpoort. New contracts awarded also include the LUSIP 2 contract in Swaziland awarded to a joint venture in which Esor has a 50% share.



We have adequate secured work, people and resources and there is a sufficient tender flow still to come to market, particularly for Inland, and we will adapt our business according to market requirements. We believe we are in a healthy position to successfully navigate the short to medium term.



Notice of annual general meeting

The annual general meeting of the company will be held at the company's offices, 30 Activia Road, Activia Park, Germiston on Friday, 30 June 2017 at 10:00. The notice of annual general meeting forms part of the Integrated Annual Report 2017, to be distributed to stakeholders on or about 25 May 2017.

04-May-2017
(Official Notice)
Esor is currently finalising its financial results for the year ended 28 February 2017 and shareholders are advised that the company expects basic loss per share to be between 38.0 and 38.2 cents compared to a basic earnings per share of 1.0 cent from the previous corresponding period, representing a decrease between 3900% and 3920%.



The company expects headline loss per share to be between 22.96 and 25.84 cents compared to headline earnings per share of 14.4 cents from the previous corresponding period, representing a decrease between 259% and 279%.



Shareholders are advised that the profit from operations has been negatively affected by losses incurred on the Northern Aqueduct pipeline project for eThekwini of R102 million. Insurance claims have been submitted against the professional indemnity policy, that covers professional negligence by subcontractors, and to date we have accounted for R48 million in insurance recovery. Further insurance claims are being pursued.



Profit before tax was further negatively impacted by the following non-recurring items:

*Impairment of goodwill to the amount of R50 million; and

*Write-down of R51 million on the contingent consideration being the profit earn-out portion following the sale of the business carried on by Franki Africa in 2013.



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



The company?s financial results for the year ended 28 February 2017 are expected to be released on SENS during the week ending 26 May 2017.



20-Feb-2017
(Official Notice)
Shareholders are referred to the announcements released on SENS on Friday, 20 January 2017 (?Declaration Announcement?) and Thursday, 26 January 2017 (?Finalisation Announcement?) as well as the circular dated Thursday, 2 February 2017 in respect of a fully-underwritten renounceable rights offer of R37.54 million (?Rights Offer?) in terms of which Esor offered a total of 98 796 357 rights offer shares (?Rights Offer Shares?) at a price of 38 cents per Rights Offer Share in the ratio of 25 Rights Offer Shares for every 100 Esor shares held on the record date for the Rights Offer, being Friday, 3 February 2017. The Rights Offer closed on Friday, 17 February 2017 and was fully subscribed.



Results of the Rights Offer

The results of the Rights Offer, is as follows:

Number of Rights Offer shares - Rand value Offer Shares- % of Rights

* Total shares available for subscription in terms of the Rights Offer: 98 796 357 - R37 542 616 - 100.0%

* Rights Offer Shares subscribed for: 63 132 603 - R23 990 389 - 63.9%

* Rights Offer Shares taken up by the underwriter: 35 663 754 - R13 552 227 - 36.1%



Issue and payment for Rights Offer Shares

The CSDP or broker accounts of holders of dematerialised Esor shares will be credited with Rights Offer Shares and debited with payments due on Monday, 20 February 2017. Rights Offer Share certificates in terms of the Rights Offer will be posted to holders of Certificated Esor shares on or about Monday, 20 February 2017, at their own risk.
26-Jan-2017
(Official Notice)
Shareholders are referred to the announcement released on SENS on Friday, 20 January 2017 (?Declaration Announcement?) in respect of the fully- underwritten renounceable rights offer of R37.54 million (?Rights Offer?) in terms of which Esor will offer a total of 98 796 357 rights offer shares (?Rights Offer Shares?) at a price of 38 cents per Rights Offer Share in the ratio of 25 Rights Offer Shares for every 100 Esor shares held on the record date for the Rights Offer, being Friday, 3 February 2017.



Shareholders are advised that the Rights Offer is unconditional and accordingly the Rights Offer may now be implemented.



The salient dates and times of the Rights Offer will be the same as those published in the Declaration Announcement released on SENS, and published in the press on Monday, 23 January 2017. Shareholders may commence trading the Rights Offer Shares on Wednesday, 15 February 2017.



Further details of the Rights Offer will be set out in a circular to shareholders (?Rights Offer Circular?) which Rights Offer Circular is expected to be posted to certificated shareholders on Thursday, 2 February 2017 and to dematerialised shareholders on Tuesday, 7 February 2017.



The Rights Offer Circular will be made available on Esor?s website www.esor.co.za from Tuesday, 31 January 2017.



Amendment to Declaration Announcement

Shareholders are referred to the Declaration Announcement and are advised that the ISIN number for Esor is ZAE000184669 and not the ISIN number included in the Declaration Announcement.



Withdrawal of cautionary

Further to the cautionary announcement released on SENS on 26 October 2016 and the subsequent renewal dated 7 December 2016, shareholders are advised that the terms of the Rights Offer have been finalised and published and accordingly the cautionary is withdrawn and hence caution is no longer required to be exercised when dealing in Esor securities.
20-Jan-2017
(Official Notice)
28-Dec-2016
(Official Notice)
Shareholders are referred to the announcements released on SENS on 21 October 2016, 10 November 2016 and 18 November 2016 respectively as well as the circular posted to shareholders on 10 November 2016 relating to the mandatory offer (?Mandatory Offer?) made by Geomer Investments (Pty) Ltd. (?Geomer Investments?) to Esor shareholders to acquire all of the ordinary shares of Esor, other than those that it already owns for a consideration of 38 cents per Esor share.



The Mandatory Offer closed at 12:00 on Friday, 23 December 2016. Shareholders are hereby advised that in terms of the Mandatory Offer, Geomer Investments received acceptances from Esor shareholders holding 25 710 447 Esor shares, constituting approximately 7.05% of the issued ordinary shares of Esor, excluding treasury shares.



Prior to the Mandatory Offer, Geomer Investments held 42.39% of the issued share capital of Esor, excluding treasury shares. Subsequent to the closing of the Mandatory Offer, Geomer Investments holds approximately 49.44% of the issued share capital of Esor, excluding treasury shares.
07-Dec-2016
(Official Notice)
Shareholders are referred to the cautionary announcement, dated 26 October 2016, and are advised that the terms of the Proposed Rights Offer have not been announced yet and hence shareholders are advised to continue to exercise caution when dealing in their Esor shares until a further announcement is made.

24-Nov-2016
(C)
Revenue lowered to R666.3 million (2015: R772.6 million), gross profit fell to R21.2 million (2015: R51.5 million ), Profit before interest, tax, amortisation, impairments and depreciation decreased to R23.1 million (2015: R29.6 million), while profit for the period was higher at R7.5 million (2015: R6.2 million). Furthermore, headline earnings per share grew to 2.15 cents per share (2015: 2.01 cents per share).



Dividend declaration

In line with group policy no dividend has been declared (2015: Nil). It remains the policy of the group to review the dividend policy annually in light of cash flow, gearing, capital requirements and bank covenants.



Prospects

The current challenging market conditions are not expected to change in the short term. Nonetheless, Africa and specifically the SADC countries offer good growth prospects. The company is currently completing nine pipejacks in Botswana with the possibility of additional works and is commencing with its largest piling job in Harare, Zimbabwe for Old Mutual. The company also continues to actively tender in Swaziland and Zambia.



Work on hand has decreased marginally to R1.4 billion compared to R1.6 billion for the comparative period. However, there are a number of imminent outstanding awards which could positively boost the order book to R2.5 billion. Cash conversion rates from this pipeline will remain a challenge taking into account the secured margin and commercial terms.
18-Nov-2016
(Official Notice)
Shareholders are referred to the firm intention announcement released on SENS on 21 October 2016 relating to the offer to be made by Geomer Investments Pty Ltd. (?Geomer Investments?) to acquire all of the shares in Esor that it does not already own (?Mandatory Offer?).



Approval from the Competition Authorities has been obtained hence shareholders are now advised that the Mandatory Offer is unconditional as to acceptances.



Shareholders are further referred to the SENS announcement released on 10 November 2016 (?Salient Dates Announcement?) relating to, amongst other things, the salient dates and times of the Mandatory Offer and are advised that the salient dates and times as contained in the Salient Dates Announcement remain unchanged and are confirmed below:

*Last day to trade in Esor Shares in order to be eligible to accept the Mandatory Offer on Tuesday, 20 December 2016

*Esor Shares trade ex the Mandatory Offer on Wednesday, 21 December 2016

*Mandatory Offer Record Date on Friday, 23 December 2016

*Mandatory Offer closes at 12:00 on Friday, 23 December 2016

*Offer Consideration discharged to Offer Participants (once Documents of Title have been received)Wednesday, 28 December 2016

*Results of the Mandatory Offer Announced on SENS on Wednesday, 28 December 2016

*Results of the Mandatory Offer to be published in the press on Thursday, 29 December 2016
15-Nov-2016
(Official Notice)
Esor is currently finalising its interim results for the six months ended 31 August 2016 and shareholders are advised that the company expects basic earnings per share to be between 1.9 cents and 2.2 cents compared to a basic earnings per share of 1.65 cents from the previous corresponding period, representing an increase of between 15% and 33%.



The Company expects headline earnings per share to be between 2.09 and 2.21 cents compared to headline earnings per share of 2.01 cents from the previous corresponding period, representing an increase of between 5% and 10%.



The financial information on which this trading update is based has not been reviewed or reported on by the company?s auditors. The company?s financial results for the six months ended 31 August 2016 are expected to be released on SENS during the week ending 25 November 2016.

10-Nov-2016
(Official Notice)
Shareholders are referred to the firm intention announcement released on the Stock Exchange News Service of JSE Ltd. on Friday, 21 October 2016 regarding a mandatory offer required to be made to all Esor shareholders by Geomer Investments (Pty) Ltd. (?Geomer?).



Shareholders are advised that a joint circular dated 10 November 2016 containing full details of the mandatory offer made to Esor shareholders by Geomer and incorporating the Esor independent board?s opinion on such mandatory offer (the ?Mandatory Offer Circular?) has been posted to Esor shareholders.



Copies of the Mandatory Offer Circular will be made available for inspection during normal business hours at the registered office of Esor and the office of Vunani Capital (Pty) Ltd., being the corporate advisor and sponsor to Esor, from 10 November 2016 to 23 December 2016 and is also available on the company?s website:www.esor.co.za.



Important Dates and Times

The important dates and times relating to the mandatory offer are set out in the timetable below. Words and expressions in the timetable and notes thereto shall have the same meaning as assigned to them in the Mandatory Offer Circular.

* Circular posted to Esor Shareholders : Thursday,10 November

* Mandatory Offer opens at 09:00 on Thursday,10 November

* Finalisation announcement released on SENS by no later than 11:00 on Thursday,08 December

* Last day to trade in Esor Shares in order to be eligible to accept the Mandatory Offer on Tuesday, 20 December

* Esor Shares trade ex the Mandatory Offer on Wednesday, 21 December

* Mandatory Offer Record Date on Friday,23 December

* Mandatory Offer closes at 12:00 on Friday,23 December

* Offer Consideration discharged to Offer Participants (once Documents of Title have been received): Wednesday, 28 December

* Results of the Mandatory Offer Announced on SENS on Wednesday, 28 December
26-Oct-2016
(Official Notice)
Shareholders are referred to the announcement released on SENS on 10 October 2016 relating to the acquisition by the Company of Tuboseal Services (Pty) Ltd. and the Business Assets and Operations from Tuboseal (Pty) Ltd. (?the Acquisition)?.



Esor intends to undertake a rights offer (?Proposed Rights Offer?) during January of 2017 at which time the detailed terms of the Proposed Rights Offer will be released on SENS.



The proceeds from the Proposed Rights Offer will be used to repay a credit facility that was made available to Esor to fund the Acquisition by Geomer Investments (Pty) Ltd. (?Geomer Investments?).



Esor anticipates that the Proposed Rights Offer will consist of an offer of 98 796 357 shares in Esor at a price of 38 cents.



Geomer Investments have committed to fully underwrite the Prosed Rights Offer.



Cautionary Announcement

Esor shareholders are advised that the final terms of the Proposed Rights Offer will be announced in due course. Shareholders are accordingly advised to exercise caution when dealing in the Company's securities until a further announcement regarding the Proposed Rights Offer is made.
21-Oct-2016
(Official Notice)
10-Oct-2016
(Official Notice)
Esor hereby advises its shareholders that it has acquired through Esor Construction (Pty) Ltd., a 100% held subsidiary, and in separate transactions, a 100% interest in Tuboseal Services from Mr Jean-Louis Frey for a consideration of R15 million, and the business assets and operations of Tuboseal for a consideration of R18.25 million, (together ?Tuboseal Group?) (the ?Transactions?). The binding agreements were entered into on 6 October 2016 with the effective date of the transaction being 1 September 2016. Esor will also be responsible for settling the balance of R3 million owing on certain assets acquired as part of the Transactions.



The consideration will be settled by means of a cash payment of R17.45 million on 7 October 2016 and the balance on 31 October 2016.



Conditions precedent

All conditions precedent to the Transactions have been fulfilled.
22-Aug-2016
(Official Notice)
The board of Directors of Esor (?the board?) notified shareholders that in terms of paragraph 3.59 of the Listings Requirements of JSE Ltd. that Reneiloe Masemene has been appointed as an independent non-executive director of the company with effect from Friday, 19 August 2016.



Reneiloe is an admitted attorney with extensive experience in mining, labour law and corporate finance. She will be appointed to the HR - Nominations Committee as well as to the Social - Ethics committee.
24-Jun-2016
(Official Notice)
Shareholders are advised that, at the annual general meeting of the company held, all the resolutions as set out in the notice of Annual General Meeting were passed.



Change to the board of directors

The board of Esor Ltd (?the Board?) hereby notifies shareholders that Mrs Keneilwe Moloko has resigned as an independent non-executive director of the company with effect from 24 June 2016.

31-May-2016
(Official Notice)
Shareholders are referred to the announcement released on SENS on 26 May 2016 which, inter alia, detailed Esor?s Annual General Meeting to be held at the company's offices, 30 Activia Road, Activia Park, Germiston on Friday, 24 June 2016 at 10:00, and are advised that Ordinary Resolution Number 5 has been updated to reflect that the securities which are the subject of such general issue for cash may not exceed 18 247 070 shares being 5% (five percent) of the total number of issued securities, excluding treasury shares, as at the date of the notice of Annual General Meeting. Accordingly, any securities issued under this authorisation prior to this authority lapsing will be deducted from the aforementioned 18 247 070 listed securities.
26-May-2016
(C)
Revenue decreased to R1.436 billion (2015: R1.448 billion). Gross profit increased to R82.1 million (2015: R62.7 million), profit for the period turned around to R3.7 million (2015: loss of R99.9 million), while headline earnings per share came in at 14.4 cents per share (2015: loss of 18.8 cents per share).



Dividend declaration

In line with group policy, no dividend has been declared (2015: Nil). It remains the policy of the group to review the dividend policy annually in light of cash flow, gearing, capital requirements and bank covenants.



Annual general meeting

The annual general meeting of the company will be held at the company's offices, 30 Activia Road, Activia Park, Germiston on Friday, 24 June 2016 at 10:00. The notice of annual general meeting forms part of the Integrated Annual Report 2016, to be posted to stakeholders on or about 26 May 2016.



The board of directors of the company determined that, in terms of section 62(3)(a), as read with section 59 of the Companies Act, 2008 (Act 71 of 2008), as amended, the record date for the purposes of determining which shareholders of the company are entitled to participate in and vote at the annual general meeting is Friday, 17 June 2016. Accordingly, the last day to trade Esor shares in order to be recorded in the Register to be entitled to vote will be Thursday, 9 June 2016.
13-May-2016
(Official Notice)
Esor is currently finalising its financial results for the year ended 29 February 2016 and shareholders are advised that the company expects basic earnings per share to be between 0.8 and 1.2 cents compared to a basic loss per share of 26.4 cents from the previous corresponding period, representing an increase of between 103% and 105%.



The company expects headline earnings per share to be between 12.9 and 15.9 cents compared to a headline loss per share of 18.8 cents from the previous corresponding period, representing an increase of between 169% and 185%.



The company?s financial results for the year ended 29 February 2016 are expected to be released on SENS during the week ending 27 May 2016.
06-Nov-2015
(Media Comment)
According to Business Report Esor returned to profitability in the six months to August after completing a restructuring. Wessel van Zyl, the chief executive of Esor indicated that the group had restored their bottom line health through focussed product areas and by concentrating on existing work. Van Zyl added that Esor had strengthened its presence in Africa in line with the group's strategy to work in countries with a familiar environment and language, and had secured two contracts in Botswana, completed three small piling contracts in Zimbabwe, while the pipelines project in Swaziland continued to progress well.
05-Nov-2015
(C)
Revenue decreased by 2.2% to R772.6 million (R789.8 billion). Gross profit grew by 56.3% to R51.5 million (R32.9 million) and results from operating activities jumped by 142.6% to a profit of R13.2 million (loss of R30.9 million). Attributable profit of R6.2 million was recorded (loss of R24 million). In addition, headline earnings per share came in at 2.01cps (loss of 6.59cps).



Dividend

In line with group policy, no dividend has been declared (2014: Nil). It remains the policy of the group to review the dividend policy annually in light of cash flow, gearing, capital requirements and bank covenants.



Prospects

The general market outlook is expected to fare neither worse nor better in the foreseeable future. There has been a slight uptick in tender activity although no commensurate increase in awards. At 31 August the group order book totalled R1,62 billion (February 2015: R1,94 billion), marking a decline in line with industry conditions as well as the group's strategy of focusing on existing work. Pending awards total R681 million on a par with February 2015. The board anticipates Esor's recovery to continue into the year ahead. The benefits of the restructure and a more streamlined group are expected to continue, with Esor Developments and Pipe Services poised for growth.
22-Oct-2015
(Official Notice)
Esor is currently finalising its interim results for the six months ended 31 August 2015 (?the interim period?) and shareholders are advised that the company expects a basic earnings per share of between 1.5 and 1.8 cents equating to an increase of between 124% and 129% compared to the basic loss per share of 6.28 cents from the previous corresponding interim period and a headline earnings per share of between 1.8 and 2.1 cents equating to an increase of between 127% and 132% compared to the headline loss per share of 6.59 cents in the previous corresponding interim period.



The company has returned to profitability despite continuing difficult trading conditions and a loss suffered on the Umzumbe low cost housing project.



Work on hand and future pipeline remain healthy, with a secured outstanding 2 year order book of R1.62 billion and imminent pending awards of approximately R680 million.



The company?s interim results for the six months ended 31 August 2015 are expected to be released on SENS during the week ending 6 November 2015.
20-Jul-2015
(Official Notice)
The Board hereby notifies shareholders that Mr Ethan Dube has resigned as an independent non-executive director of the company with effect from 17 July 2015.



The Board takes this opportunity to express their appreciation to Ethan for his valuable contributions and guidance over the many years that he was on the Board. The Board extends its best wishes for his future endeavours.
26-Jun-2015
(Official Notice)
Shareholders are advised that, at the annual general meeting of the company held on 26 June 2015, all the resolutions as set out in the notice of the annual general meeting were passed, with the exception of ordinary resolution number 5. Ordinary resolutions number 2.3 and 4.3 were withdrawn.
28-May-2015
(C)
Revenue decreased to R1.4 billion (R1.6 billion). Gross profit came in at R62.7 million (loss of R18.8 million) and results from operating activities showed a loss of R101.8 million (loss of R281.8 million). A net attributable loss of R99.9 million (loss of R166.2 million) was recorded. In addition, a headline loss per share from continued operations of 18.8cps (loss of 24.4cps) was recorded.



Dividend

In line with group policy, no dividend has been declared (2014: 38 cents interim dividend following the disposal of the geotechnical business). It remains the policy of Esor to review the dividend policy annually in light of cash flow, gearing, capital requirements and bank covenants.



Annual general meeting

The annual general meeting of the company will be held at the company's offices, 30 Activia Road, Activia Park, Germiston on Friday, 26 June 2015 at 10:00. The notice of annual general meeting forms part of the Integrated Annual Report 2015, to be posted to stakeholders on or about 28 May 2015.



Prospects

The board anticipates Esor's recovery to continue into the year ahead. Esor has been refocused on what the group does well and profitably. The directors are confident that the streamlined group is agile and nimble to go to where the work is and structured for profitability with clear focus areas and improved synergies between disciplines.



Sanitation has been earmarked as an area of future opportunity following the Minister of Water and Sanitation's stated commitment to improved access and better infrastructure, particularly in rural areas. Esor, having substantially completed a large sanitation project for the eThekwini Municipality, is able to leverage existing capacity and skills to accommodate this growth area.



Esor will continue to focus on reducing debt and improving cash flow.
25-May-2015
(Official Notice)
The Board notified shareholders that Mr Eugene Erasmus has resigned as an independent non-executive director of the company with effect from 22 May 2015 to pursue personal interests.
15-May-2015
(Official Notice)
Esor is currently finalising its financial results for the year ended 28 February 2015 (?Current Financial Year?) and shareholders are advised that the company expects a basic loss per share of between 24 and 28.8 cents (?Current Basic Loss Per Share?) and a headline loss per share of between 17 and 20.3 cents (?Current Headline Loss Per Share?) compared to a basic loss per share of 43.5 cents and a headline loss per share of 11.3 cents from the previous financial year.



The basic and headline losses per share from continuing operations in the previous corresponding financial year were 56.6 cents and 24.4 cents respectively, therefore the Current Basic Loss Per Share and Current Headline Loss Per share, which were generated from the same continuing operations during the Current Financial Year, represents a marked improvement in financial performance.



The losses have, to a large extent, resulted from a further loss on the N4 Mooinooi road contract (R56 million) which was reported on in the half year results. This project was completed in November 2014. The fair value adjustment loss of R35.4 million on the contingent consideration attributable to the disposal of the geotechnical business in the previous financial year and the impairment of goodwill in the civil?s business of R29.7 million also had material effects on these results.



Esor?s work on hand and future pipeline remain healthy, with a secured outstanding two year order book in excess of R1.9 billion as at 28 February 2015 and imminent pending awards of approximately R600 million. The company?s financial results for the year ended 28 February 2015 are expected to be released on SENS during the week ending 31 May 2015.
27-Nov-2014
(C)
Revenue decreased by 22.2% to R789 million (R1 billion). Gross profit slumped by 33.9% to R32.9 million (R62.9 million) and results from operating activities jumped by 249.4% to a loss of R30.9 million (loss of R8.9 million). Net attributable loss slumped to R24 million (profit of R2.2 million). In addition, headline loss per share came in at 6.59cps (earnings of 0.01cps).



Dividend

In line with group policy, no interim dividend has been declared. It remains the policy of the group to review the dividend policy annually in light of cash flow, gearing, capital requirements and bank covenants.



Prospects

Looking ahead the group has a consolidated two-year order book of R2.4 billion.



The group is positioned for profitable future growth with the conclusion of the legacy loss-making contracts, settlement of the Kusile claim, projects expected to come on stream (previously delayed) and the consolidation and reorganisation nearing completion.



Esor does not foresee any major change in the market over the next six months and expect flat trading conditions in a still highly competitive local market. Esor has strategically positioned itself in the Developments' division and is partnering with companies that add value to our pipeline.
26-Nov-2014
(Official Notice)
21-Nov-2014
(Official Notice)
The board of directors of Esor notified its shareholders that Mrs Keneilwe Moloko has been appointed as a member of the Audit and Risk Committee of the Company effective from 20 November 2014.
14-Nov-2014
(Official Notice)
Esor is currently finalising its interim results for the six months ended 31 August 2014 ("the interim period") and shareholders are advised that the company expects a basic loss per share of between 6.0 and 7.2 cents and a headline loss per share of between 6.2 and 7.4 cents for the interim period, compared to earnings per share of 0.6 cents and headline earnings per share of 0.01 cent in the previous corresponding interim period. The previous corresponding period includes the results of the Geotechnical business, which has since been sold.



The loss has largely resulted from the N4 contract which has incurred a further R50 million loss during the interim period. The loss on the N4 contract is mainly due to the late completion of the works compared to final estimates at February 2014. This contract has since been completed post the interim period end and the road has been opened. All costs to completion have been provided.



Esor?s claim on the Eskom Kusile underground terraces contract has been finalised and settled. This settlement was insufficient to cover the amount traded and the company has incurred a R20 million loss on the settlement of this claim. There are still significant variations that are currently being substantiated. The balance of the cash, in excess of the R150 million that was previously paid on account, has been received. This removes the balance sheet risk associated with the advance payments.



Work on hand and future pipeline remain healthy, with a secured outstanding two year order book of R2.4 billion and imminent pending awards of approximately R500 million. The company?s interim results for the six months ended 31 August 2014 are expected to be released on SENS during the week ending 28 November 2014.
07-Oct-2014
(Official Notice)
The board of directors of Esor ("the board") notify shareholders that in terms of paragraph 3.59 of the Listings Requirements of JSE Ltd. that Bruce Atkinson has been appointed as Chief Financial Officer and Executive Director of the company.



In addition to the appointment of Bruce, the board announced the appointment of Keneilwe Moloko as an independent non-executive director of the company.



The appointments of Bruce and Keneilwe are both effective as at Monday, 6 October 2014.



Change in important function of director

Mr Wessel van Zyl, as per the announcement released on sens on Friday, 22 August 2014, is currently both Chief Executive Officer and acting Chief Financial Officer of Esor.



As a result of the appointment of Bruce, Wessel shall no longer perform the function of acting Chief Financial Officer of Esor effective from Monday, 6 October 2014.
22-Aug-2014
(Official Notice)
The Board notified shareholders that in terms of paragraph 3.59 of the Listings Requirements of JSE Ltd. and as per the announcement released on SENS on Friday, 27 June 2014, where mention was made of the Company's intention to restructure the Board, the following changes have been implemented:

* Mr Bernie Krone, will step down as Chief Executive Officer and will be appointed as non-executive Chairman effective from 1 September 2014;

* Mr Wessel van Zyl, the current Chief Financial Officer, will take over from Mr Krone as Chief Executive Officer effective from 1 September 2014. Mr van Zyl, in addition to his appointment as Chief Executive Officer, will continue to act as Chief Financial Officer until a suitable replacement is found;

* Mr Dave Thompson and Dr Franklin Sonn retire as independent non-executive Chairman and Independent non-executive director respectively effective from 21 August 2014.

* Mrs Heather Sonn and Mr Eugene Erasmus are appointed as independent non-executive directors effective from 21 August 2014.



Changes to Audit Committee

The Board notified its shareholders that the following changes to the Company's Audit Committee have been implemented effective from 21 August 2014:

* Mr Ethan Dube, in addition to Mr Dave Thompson and Dr Franklin Sonn, retire from the Company?s Audit committee;

* Mrs Heather Sonn and Mr Eugene Erasmus were appointed to the Audit Committee; and

* Mrs Heather Sonn will assume the position of Chairperson of the Audit Committee from Dr Oswald Franks who remains a member of the Audit Committee.



Appointment of Lead Independent Director

The Board notified its shareholders that Dr Oswald Franks, an independent non- executive director of the Company, has been appointed as the Lead Independent Director of the Company effective from 21 August 2014.
27-Jun-2014
(Official Notice)
Shareholders are advised that, at the annual general meeting of the company held today, all the resolutions as set out in the notice of the annual general meeting were passed, with the exception of ordinary resolutions numbers four and five.



Restructure of the Board:

As mentioned at the annual general meeting, Esor intends to capitalise on its current period of consolidation to effect a long-planned restructure of the board. The initiative is now opportune given that the group has emerged from a challenging three year period well-positioned to achieve future growth objectives. In order to facilitate seamless continuity, the restructure will be phased in over the next six to eight months.



Chairman, Dave Thompson (78), and independent non-executive director, Franklin Sonn (74), have for some time indicated their respective intention to retire. It is therefore intended that Group CEO, Bernie Krone (61), will step into the non-executive role of Group Chairman, while Group CFO, Wessel van Zyl (47), will be appointed CEO in his stead and a new Group CFO will be appointed.



It is also intended that Franklin Sonn will be succeeded by Heather Sonn as an independent non-executive director. Heather has a wealth of experience having held senior executive positions in investment management, stock- broking and banking in the US, UK and South Africa and is currently Managing Director of Gamiro Investment Holdings, which is focused on the renewable energy, agriculture and financial services sectors. Further, the directors are seeking to bolster the board with a highly experienced expert in the field of construction and to boost black representation. Efforts in this regard are ongoing.



A formal SENS announcement will be released on the effective appointment or retirement of any director in line with the JSE Listings Requirements.
29-May-2014
(C)
20-May-2014
(Official Notice)
Esor is currently finalising its financial results for the year ended 28 February 2014 and shareholders are advised that the company expects a basic loss per share of between 39.6 and 47.4 cents and a headline loss per share of between 10.3 and 12.3 cents for that period; compared to earnings per share of 23.5 cents and headline earnings per share of 20.5 cents in the previous financial year.



The loss has, to a large extent, resulted from three loss-making contracts reported on at the interim stage (i.e. N4 - R94 million, Kriel main civils and Boxhole - R45 million and Hwelereng - R27 million). Esor's work on hand and future pipeline remain healthy, with a secured two year order book in excess of R2.6 billion as at 28 February 2014 and imminent pending awards of approximately R3 billion.



The Civils division is involved in a number of power infrastructure projects for Eskom at Kusile with the Terrace Underground Facilities contract having been subject to various delays and lack of access in a number of areas. The Group's liquidity will remain tight until all claims are resolved and payments due on the project have been made. The company's financial results for the year ended 28 February 2014 are expected to be released on SENS during the week ending 30 May 2014.
26-Feb-2014
(Official Notice)
Mr Briss Mathabathe has resigned as an independent non-executive director of the company with effect from 26 February 2014.
17-Jan-2014
(Permanent)
Esorfranki Ltd. was renamed to Esor Ltd. on 20 January 2014.
09-Jan-2014
(Official Notice)
Further to the announcements dated 18 November 2013 and 22 November 2013, shareholders were advised that the special resolution relating to the change of name of the company from "Esorfranki Ltd." to "Esor Ltd." has been processed by CIPC and accordingly the change of name will be effected as follows:

*Last day to trade under the old name "Esorfranki" -- Friday, 17 January 2014

*Change of name to "Esor Ltd." on the JSE and trade commences under the new name "Esor Ltd." under the JSE code "ESR", abbreviated name "ESOR" and new ISIN ZAE000184669 from the commencement of trading on Monday, 20 January 2014

*Record date for change of name -- Friday, 24 January 2014

*Replacement share certificates will be posted to certificated shareholders provided their old share certificates together with the form of surrender are received by the transfer secretaries before 12:00 on the record date. Any share certificates received after 12:00 on the record date will be replaced within 5 business days of receipt -- Monday, 27 January 2014

*Dematerialised shareholder's accounts at CSDP and/or brokers updated on Monday, 27 January 2014
28-Nov-2013
(Official Notice)
Esorfranki refers to the interim results released on SENS this morning which contained an incorrect heading Reviewed condensed consolidated interim results for the year ended 30 September 2013 and advises that the heading should have been Reviewed condensed consolidated interim results for the six months ended 31 August 2013.

28-Nov-2013
(C)
Revenue increased by 38.5% to R1 billion (R732.4 million). Gross profit declined by 33.9% to R62.9 million (R95.1 million) and results from operating activities decreased by 124.1% to a loss of R8.9 million (profit of R36.8 million). Net attributable profit slumped by 95.3% to R2.2 million (R47.3 million). In addition, headline earnings per share plummeted 99.9% to 0.01cps (7.8cps).



Dividend

In line with group policy, no interim dividend has been declared. It remains the policy of the group to review the dividend policy annually in light of cash flow, gearing, capital requirements and bank covenants. Shareholders were notified in an announcement dated 18 November 2013 that following the disposal of the Geotechnical division becoming effective, the board declared a special gross dividend of 38cps from income reserves.



Outlook

Notwithstanding continued difficult conditions, tender activity in both the private and Government sectors has increased. Government currently accounts for 24% of Esorfranki Civils' order book, with 57% from parastatals and the remaining 19% from the private sector. This has been bolstered by additions to existing contracts at Kusile for a general services pipeline, terraces, underground services and crushing, together valued at more than R1.1 billion. Certain work on these projects is being conducted in joint venture with two of Esorfranki's enterprise development beneficiaries, Kulani and Masibuyisane.



With the right-sizing and restructuring of Esorfranki Civils now complete, and with the new management at the helm, the division is well positioned to capitalise on future opportunities. The order book for Esorfranki Pipelines remains solid at R407 million, with a number of new projects coming to market. The ongoing expansion outside of South Africa is expected to continue.
22-Nov-2013
(Official Notice)
Further to the announcement dated 18 November 2013, shareholders are advised that the special resolution relating to the change of name of the company from "Esorfranki Ltd." to "Esor Ltd." has not yet been processed by CIPC and accordingly the salient dates applicable to the change of name detailed in that announcement will not apply. A further announcement regarding this matter will be released in due course.
22-Nov-2013
(Official Notice)
With reference to the announcement dated 18 November 2013, the Company confirms the following information relating to the special dividend:

* Gross dividend (cents per share): 38.0

* Gross STC credits: 0.0

* Dividend withholding tax (15% on taxable dividend) (5.7)

* Net dividend (cents per share) 32.3



Payment will be made by the relevant intermediary, i.e. Central Securities Depository Participant ("CSDP") or broker nominee company, which is the final regulated intermediary in terms of the Income Tax Act.



The dates applicable to the special dividend are as follows:

* Last day to trade cum special dividend Friday, 29 November 2013

* Ordinary shares commence trading ex- special dividend: Monday, 2 December 2013

* Record date (i.e. date shareholders recorded in the register in order to be eligible to receive the special dividend): Friday, 6 December 2013

* Payment date: Monday, 9 December 2013



No share certificates may be dematerialised or rematerialised between Monday, 2 December 2013 and Friday, 6 December 2013, both dates inclusive.
18-Nov-2013
(Official Notice)
Further to the announcement dated 18 October 2013, shareholders are advised that, at the general meeting of shareholders held on 18 November 2013, the following resolutions were passed by the requisite majority:

* ordinary resolution relating to the disposal of Esorfranki Geotechnical ("the Disposal"); and

* special resolution relating to the change of name of the company from "Esorfranki Ltd." to "Esor Ltd.".



Once the special resolution in respect of the change of name has been lodged with and accepted by CIPC, a finalisation announcement relating thereto will be released.



Declaration of special dividend

Shareholders are advised that the board has declared a special gross dividend of 38 cents per share from income reserves (i.e. portion of the purchase consideration of the Disposal) as set out below. The board has taken into consideration the requirements of section 46 of the Companies Act, 2008 (Act 71 of 2008), as amended, and has passed a resolution to the effect that the Company satisfied the Solvency and Liquidity Test and confirms that since such test was performed, there have been no material changes to the financial position of the Company.



Payment will be made by the relevant intermediary, i.e. Central Securities Depository Participant ("CSDP") or broker nominee company, which is the final regulated intermediary in terms of the Income Tax Act. The issued share capital of the company at the date of this announcement is 395 185 430 ordinary shares. The tax reference number of the company is 9088081204. The Company is awaiting the relevant Exchange Control approval in respect of this special dividend and once this is received, a further announcement will be released on SENS confirming the information relating to the special dividend.



The expected dates applicable to the special dividend are as follows:

* Last day to trade cum special dividend: Friday, 29 November 2013

* Ordinary shares commence trading ex- special dividend: Monday, 2 December 2013

* Record date (i.e. date shareholders recorded in the register in order to be eligible to receive the special dividend): Friday, 6 December 2013

* Payment date: Monday, 9 December 2013



No share certificates may be dematerialised or rematerialised between Monday, 2 December 2013 and Friday, 6 December 2013, both dates inclusive.
13-Nov-2013
(Official Notice)
Esorfranki is currently finalising its interim results for the six months ended 31 August 2013 and shareholders are advised that the company expects the basic earnings per share for the period then ended to be between 94% and 96% lower than those for the previous corresponding period and the headline earnings per share for the period then ended to be approximately 99% lower than those for the previous corresponding period.



Despite the above, Esorfranki's work on hand and future pipeline remain healthy, with a secured outstanding order book of the continuing operations in excess of R2.2 billion as at the date of this announcement and imminent pending awards of approximately R1 billion. The company's interim results for the six months ended 31 August 2013 are expected to be released on SENS during the week ending 29 November 2013.
30-Oct-2013
(Official Notice)
The board notified shareholders that Ms Monhla Hlahla resigned as a non-executive director of the company with effect from 29 October 2013.
18-Oct-2013
(Official Notice)
09-Oct-2013
(Official Notice)
Having regard to the information on the disposal of Esorfranki Geotechnical, the cautionary announcement is hereby withdrawn.
09-Oct-2013
(Official Notice)
20-Sep-2013
(Official Notice)
Shareholders are referred to the cautionary announcement, dated 6 August 2013, and are advised that Esorfranki remains in discussions which could affect the price of the company's shares. Shareholders are therefore advised to continue to exercise caution when dealing in their Esorfranki shares until a further announcement is made.
06-Aug-2013
(Official Notice)
Shareholders were advised that negotiations are in progress which, if successfully concluded, could affect the price of the company's securities. Accordingly, Esorfranki shareholders are advised to exercise caution when dealing in their securities until a further announcement is made.
28-Jun-2013
(Official Notice)
Shareholders are advised that, at the annual general meeting of the company held on 28 June 2013, all the resolutions as set out in the notice of the annual general meeting were passed, with the exception of ordinary resolutions numbers 5 and 6. The special resolutions will be submitted for registration at the Companies and Intellectual Property Commission in due course.
24-Jun-2013
(Official Notice)
Shareholders are referred to the initial cautionary announcement, dated 23 August 2012, and the various renewals thereof, which related to a proposal that a BEE Investment Consortium acquire an aggregate 118 million Esorfranki ordinary shares to be subscribed for and/or purchased via a specific issue of shares for cash and/or a tender of shares from Esorfranki ordinary shareholders. Shareholders are advised that the process set out above will no longer be followed as various institutional shareholders will, via an off-market transaction, now jointly sell 5.2 million Esorfranki shares to the BEE Investment Consortium at R1.50 per share.



A further 10.8 million Esorfranki shares will be acquired by the Esorfranki Broad Based Ownership Scheme via an off-market transaction, at R1.50 per share. Having regard to the information set out above, the cautionary announcement is accordingly withdrawn.
27-May-2013
(C)
24-May-2013
(Official Notice)
The Board of Esorfranki welcomed the following independent non-executive directors with effect from 23 May 2013:

* Dr. Oswald Franks

* Ms Monhla Hlahla.
10-May-2013
(Official Notice)
Shareholders were referred to the previous cautionary announcements; the latest of which was dated 27 March 2013, and were advised that Esorfranki remains in discussions with a BEE Investment Consortium relating to the acquisition of Esorfranki ordinary shares.



Shareholders were therefore advised to continue to exercise caution when dealing in their Esorfranki ordinary shares until a further announcement is made.
08-May-2013
(Official Notice)
Esorfranki is currently finalising its financial results for the year ended 28 February 2013 and shareholders were advised that the company expects basic earnings per share of between 21.0 and 25.2 cents and headline earnings per share of between 19.0 and 22.8 cents for that period; these numbers represent an increase in earnings per share of between 347% and 436% and headline earnings per share of between 206% and 247%.



Esorfranki's work on hand and future pipeline remain healthy, with a secured outstanding order book in excess of R2.5 billion as at 28 February 2013 and imminent pending awards of approximately R3 billion.



The company's financial results for the year ended 28 February 2013 are expected to be released on SENS during the week ending 31 May 2013.
27-Mar-2013
(Official Notice)
Shareholders were referred to the previous cautionary announcements; the latest of which was dated 12 February 2013, and were advised that Esorfranki remains in discussions with a BEE Investment Consortium relating to the acquisition of Esorfranki ordinary shares.



Shareholders were therefore advised to continue to exercise caution when dealing in their Esorfranki ordinary shares until a further announcement is made.
12-Feb-2013
(Official Notice)
Shareholders are referred to the previous cautionary announcements; the latest of which was dated 2 January 2013, and are advised that Esorfranki remains in discussions with a BEE Investment Consortium relating to the acquisition of Esorfranki ordinary shares. Shareholders are therefore advised to continue to exercise caution when dealing in their Esorfranki ordinary shares until a further announcement is made.
28-Jan-2013
(Official Notice)
Andy Brookstein will retire as an executive director of Esorfranki on 31 January 2013.
02-Jan-2013
(Official Notice)
Shareholders were referred to the previous cautionary announcements; the latest of which was dated 16 November 2012, and are advised that Esorfranki remains in discussions with a BEE Investment Consortium relating to the acquisition of Esorfranki ordinary shares. Shareholders are therefore advised to continue to exercise caution when dealing in their Esorfranki ordinary shares until a further announcement is made.
16-Nov-2012
(Official Notice)
Shareholders were referred to the cautionary announcements dated 23 August 2012 and 10 October 2012 and were advised that Esorfranki remains in discussions with a BEE Investment Consortium relating to the acquisition of Esorfranki ordinary shares.



Shareholders were therefore advised to continue to exercise caution when dealing in their Esorfranki ordinary shares until a further announcement is made.
25-Oct-2012
(C)
Revenue for the interim period ended 31 August 2012 increased by 33.3% to R1.143 billion (2011: R857.5 million). Gross profit jumped by 88.5% to R150.6 million (2011: R79.9 million), results from operating activities skyrocketed by 645.8% to R78.7 million (2011: loss of R14.4 million), while profit attributable to ordinary shareholders turned around to R47.3 million (2011: loss of R18.7 million). Furthermore, headline earnings per share shot up to 7.8cps (2011: loss of 3.9cps).



Dividend policy

In line with group policy no interim dividend has been declared. It remains the policy of the group to review the dividend policy annually in light of cash flow, gearing, capital requirements and bank covenants.



Prospects

Esorfranki has started to benefit from the tentative recovery in the South African economy. The promised government infrastructure spend did not progress as anticipated during the period and a full economic recovery is expected only in the medium term. Esorfranki Civils is expected to further capitalise on opportunities in housing, with affordable housing projects planned in the Vaal Triangle and Thabazimbi and a low-cost house development in Johannesburg. Despite the slowdown in the mining sector, opportunities remain in the coal mining sector from which Esorfranki anticipates benefiting.



Esorfranki Pipelines started the second half of the year securing a significant R250 million contract in Stanger. In addition the Rand Water Augmentation continues and there are good prospects in KZN and Gauteng. The sector remains challenged by the slow delivery of pipes from suppliers. This is expected to be alleviated in the second half of the current year to boost production. Further promising prospects exist with potential reticulation in the SADC region.



Esorfranki Geotechnical's prospects in Sub-Saharan Africa are varied, but promising. The Mauritian market is currently flat and is likely to remain so for the next reporting period, but in the medium term PPP projects around Port Louis offer attractive opportunities. Mozambique is looking positive with a number of large projects to be awarded in the coal mining sector. Although the Angolan market has become more competitive with the entry of international construction companies, the division is confident of further contract awards. Despite some challenges, the group expects to achieve targets in all regions this year.
15-Oct-2012
(Official Notice)
Esorfranki is currently finalising its interim results for the six months ended 31 August 2012 and shareholders are advised that the company expects basic earnings per share of between 11 and 13,2 cents and headline earnings per share of between 7 and 8.4 cents for that period. When compared to the corresponding accounting period, these numbers represents an increase in earnings per share of between 329% and 375% (2011: 4.8 cents loss per share) and headline earnings per share of 280% and 315% (2011: 3.9 cents headline loss per share).



Esorfranki's work on hand and future pipeline remain healthy, with a secured outstanding order book in excess of R2.4 billion as at the date of this announcement and imminent pending awards of approximately R645 million. The company's interim results for the six months ended 31 August 2012 are expected to be published on SENS during the week ending 26 October 2012.
10-Oct-2012
(Official Notice)
Shareholders were referred to the cautionary announcement dated 23 August 2012 and are advised that Esorfranki remains in discussions with a BEE Investment Consortium relating to the acquisition of Esorfranki ordinary shares. Shareholders are therefore advised to continue to exercise caution when dealing in their Esorfranki ordinary shares until a further announcement is made.
03-Oct-2012
(Official Notice)
Shareholders are referred to the announcement dated 18 September 2012 and are advised that the effective date of appointment of the company's new financial director, Mr Wessel van Zyl, is 8 October 2012.
18-Sep-2012
(Official Notice)
Shareholders are notified that:

* Mr Wayne van Houten has resigned as financial director and chief financial officer of the company, effective 30 September 2012. He will assist the company on an ad-hoc basis after this date to ensure a smooth handover of responsibilities.

* Mr. Wessel van Zyl (CA)(SA) will be appointed as financial director and chief financial officer of the company. His exact date of appointment will be announced in due course.
11-Sep-2012
(Official Notice)
Esorfranki reported that for the fifth month period 1 March 2012 to 31 July 2012 the company's revenue increased by at least 70% over its revenue for the comparable period of 2011. Headline earnings for the above period increased by at least 180% when compared to the same period of 2011. Shareholders will be kept informed of the company's progress.
06-Sep-2012
(Official Notice)
23-Aug-2012
(Official Notice)
Shareholders are advised that Esorfranki has received an expression of interest from a BEE Investment Consortium, which is subject to suspensive conditions, relating to the acquisition via the subscription and purchase by that BEE Investment Consortium of 118 million Esorfranki ordinary shares. It is proposed that:

*54 million Esorfranki ordinary shares will be subscribed for in terms of a specific issue of shares for cash at a subscription price of R1.50 each; and

*64 million Esorfranki ordinary shares will be acquired in the form of an open process that will allow all current Esorfranki shareholders to tender their Esorfranki ordinary shares for sale at R1.50 per share. In the event of more than 64 million Esorfranki ordinary shares being tendered, a pro-rata apportionment will take place.



Shareholders are advised to exercise caution when dealing in their Esorfranki ordinary shares until a formal agreement is signed in this regard and a further announcement is made.
03-Aug-2012
(Official Notice)
Esorfranki reported that for the four month period 1 March 2012 to 30 June 2012 the company's revenue increased by at least 30% over its revenue for the comparable period of 2011. Headline earnings for the above period increased by at least 150% when compared to the same period of 2011. The company's outstanding order book at 30 June 2012 was approximately R2.7 billion. Shareholders will be kept informed of the company's progress.
13-Jul-2012
(Official Notice)
Shareholders were advised that, at the annual general meeting of the company held on 13 July 2012, all the resolutions as set out in the notice and supplement notice of the annual general meeting were passed, with the exception of ordinary resolutions numbers 4 - 5.



The special resolutions will be submitted for registration at the Companies and Intellectual Property Commission in due course
14-Jun-2012
(Official Notice)
Shareholders are advised that the company on 14 June 2012 posted a supplement to the annual general meeting notice, which supplement contains additional special resolutions relating to the following:

* Authority to provide financial assistance in terms of section 44 of the Companies Act; and

* An additional clause for inclusion in the Memorandum of Incorporation which provides for security holders (other than those holding equity shares) to convene and hold meetings based on specific terms and conditions set out in the document(s) in terms of which such securities are issued.

A copy of the supplement is available on the company's website, www.esorfranki.co.za.
28-May-2012
(C)
Revenue for the year ended 29 February 2012 jumped to R1.8 billion (2011: R1.4 billion). Gross profit increase to R221.7 million (2011: R161.4 million), results from operating activities turned around to R53.1 million (2011: loss of R16.4 million), while profit after tax was recorded at R18.2 million (2011: loss of R40.8 million). Furthermore, headline earnings per share came in at 6.2cps (2011: loss of 12.9cps).



Dividend declaration

The board has resolved not to declare a dividend in respect of this financial year (2011: Nil). It remains the policy of the company to review the dividend policy annually in light of solvency, liquidity, cash flow, gearing and capital requirements.



Prospects

Esorfranki will continue to explore further expansion into Africa, while also keeping a keen eye on the domestic market. The focus going forward will remain on expansion into new markets in Africa, to strengthen and diversify revenue streams while taking advantage of the South African Government's renewed commitment to infrastructure as per February's State of the Nation Address. It should offer Esorfranki significant opportunity, especially in terms of development and unlocking of South Africa's resource wealth through transport, energy and water logistics.



The group has secured a number of significant local and African contracts in all divisions to overcome tough market conditions. Esorfranki Geotechnical's first contract in Ghana, worth R13 million, has been completed and formed the foundation for a further three contracts in the country for lateral support and marine structures worth R120 million. Esorfranki Civils has scooped long-term contracts including from Bakwena Corridor Concessionaire, Gauteng Roads Department, Eskom and Anglo Coal, amongst others. Esorfranki Pipelines' recent new contracts include a major project in KwaZulu-Natal for Umgeni Water valued at R130 million.



The next year to 18 months will see Esorfranki continue optimising efficiencies and prioritising diversification of products, including opportunities in the solar green energy arena for Esorfranki Geotechnical. Within South Africa, infrastructure development in power, water, transport and resources is desperately required. Esorfranki is well-positioned to take advantage of new projects as and when they come to the market.
07-May-2012
(Official Notice)
Esorfranki is currently finalising its financial results for the year ended 29 February 2012 and shareholders are advised that the company expects a basic earnings per share of between 4.5 and 5.4 cents and a headline earnings per share of between 5.5 and 6.5 cents for that period, these numbers represents an increase in earnings per share of between 132% and 138% (2011: loss per share) and headline earnings per share of 143% and 151% (2011: headline loss per share).



Esorfranki's work on hand and future pipeline remain healthy, with a secured outstanding order book in excess of R1.75 billion as at 29 February 2012 and imminent pending awards of approximately R2 billion. The company's financial results for the year ended 29 February 2012 are expected to be published on SENS during the week ending 1 June 2012.
16-Apr-2012
(Official Notice)
Shareholders are referred to the cautionary announcements issued by the company, the last of which was dated 28 February 2012, and are advised that the relevant negotiations have been suspended, and accordingly the cautionary announcement is hereby withdrawn.
28-Feb-2012
(Official Notice)
A further cautionary announcement relating to negotiations in respect of the acquisition of a business, which has the development rights, as the "turnkey developer/contractor", for an integrated mixed-use, affordable housing development, was published on 17 January 2012. Shareholders are advised to continue exercising caution when dealing in the company's securities until a further announcement in regard to the above is made.
20-Feb-2012
(Official Notice)
Shareholders are advised that the company will participate in the "Afrifocus Investor Lunch" on 20 and 22 February 2012. The purpose of the lunch is to update investors on the operational activities and prospects of various operations. A copy of the presentation is available on the company's website: www.esorfranki.co.za, from 20 February 2012.
01-Dec-2011
(Official Notice)
Shareholders are referred to the cautionary announcement dated 20 October 2011 and are advised that Esorfranki is involved in negotiations regarding the acquisition of the business of a Development company who has the development rights as the "turnkey developer/contractor" for an integrated mixed-use, affordable housing development on approximately 237 ha of land that ultimately will yield approximately 7 700 residential units as well as commercial, social, educational and medical facilities.



If successfully concluded the acquisition may impact on the price of the company's securities. Accordingly, shareholders are advised to continue exercising caution when dealing in the company's securities until a further announcement is made.

01-Nov-2011
(Official Notice)
Further to previous announcements and press coverage in respect of the contested award to Esorfranki Pipelines (Pty) Limited (a division of Esorfranki) in joint venture with Cycad Pipelines (Pty) Ltd ("the joint venture") of the Western Aqueduct project by e-Thekwini Municipality following an open tender process ("the contract"), Esorfranki wishes to clarify the impact for the group of the wording of the Honourable Madam Justice D Pillay's judgment handed down on 25 October 2011 ("the judgment"), with specific reference to the possibility of "corruption" in the tender process: Two applications were made in the KwaZulu-Natal High Court ("the Court") by two alternative tender participants, citing e-Thekwini Municipality as the first respondent, for the setting aside of the contract. It was common cause between all parties that the tender notice issued by the e-Thekwini Municipality conflicted with section 2(1)(b) of the Preferential Procurement Policy Framework Act, Act 5 of 2000. The Court found that this non-compliance of the original tender notice was fundamental and could not be cured. The Court therefore made an order that the contract be set aside on the basis of this legal contravention. In the judgment reference was made in passing to the possibility that "corruption" in the tender process could not be ruled out. Esorfranki is gravely concerned at the potential implication for the group and stresses that the remarks made by the Court in the judgment relating to "corruption" have no bearing on the conduct of the joint venture and the joint venture accordingly distances itself from these remarks. Guided by independent legal opinion, Esorfranki confirms that no allegation was made in any of the applicants' papers in this regard, the applicants' case was not premised on any suggestion of "corruption" and the question of "corruption" was not raised in argument by the applicants' counsel or by the Court in hearing this argument. The first respondent, together with Esorfranki Pipelines and Cycad Pipelines, has applied for leave to appeal against the whole of the judgment and order for costs.
26-Oct-2011
(Media Comment)
Business Report highlighted that Esorfranki, the listed construction and civil engineering group, anticipates finalising a transaction within the next six months that will improve its empowerment grading and its chances of being awarded government contracts. Bernie Krone, the chief executive of Esorfranki, said that the group needed to increase its BEE equity ownership to 30 percent to get to a level three empowerment grading. Krone confirmed that the group would probably do something involving its shareholding in the next six months to improve its black economic empowerment rating.
25-Oct-2011
(C)
Revenue grew 14.2% to R857.5 million from R750.8 million in the comparative period. Gross profit declined by 45.8% to R79.9 million (R147.5 million). Earnings before interest, depreciation, impairments, amortisation and taxation ("EBITDA") declined 66.2% from R75.2 million to R25.4 million. Results from operating activities decreased by 137.9% to a loss of R14.4 million (profit of R38 million). A net attributable loss of R18.7 million (profit of R12.3 million) was made. Headline earnings per share reduced by 195.1% to a headline loss per share of 3.9c (earnings of 4.1cps).



Outlook

Looking ahead the economy and construction sector are showing the first, slow signs of recovery, although a full recovery is expected only in the medium-term and then not to the levels of the 2008/9 boom. Esorfranki intends expanding its geographical footprint and product range through both organic and acquisitive growth to capitalise on opportunities. With higher margins Sub-Saharan Africa continues to offer scope for growth for all business units. Current prospects include projects in Ghana, Kenya, Uganda, Togo as well as Mozambique.



Esorfranki Civils is expected to capitalise on opportunities in housing, particularly low-cost housing. Anticipated projects in the water, energy and transport sectors are shoring up prospects for the group. Esorfranki Pipelines has a positive outlook based on work for the Rand Water Augmentation Schemes, TCTA and the petroleum industry.
20-Oct-2011
(Official Notice)
Shareholders are advised that negotiations are in progress which, if successfully concluded, could affect the price of the company's securities. Accordingly, Esorfranki shareholders are advised to exercise caution when dealing in their securities until a further announcement is made.
13-Oct-2011
(Official Notice)
Esorfranki is currently finalising its interim financial results for the six months ended 31 August 2011 and shareholders are advised that the company expects a basic loss per share of between 4.8 and 5.8 cents and a headline loss per share of between 3.9 and 4.7 cents for that period. Notwithstanding the above, Esorfranki's work on hand and future pipeline remain healthy, with a secured outstanding order book in excess of R 1.5 billion (exclusive of the Western Aqueduct award) as at the date of this announcement and imminent pending awards of approximately R 2.3 billion. The company's interim financial results for the six months ended 31 August 2011 are expected to be published on SENS during the week ending 28 October 2011.
26-Aug-2011
(Official Notice)
Esorfranki announced the appointment of Mr A C Brookstein as an executive director of the company with effect from 26 August 2011.
23-Aug-2011
(Official Notice)
Shareholders were advised that the company is arranging a roadshow whereby various investors in Cape Town and Johannesburg will be visited during 23 and 29 August 2011. The purpose of the roadshow is to update investors on the operational activities and the prospects of the company. A copy of the presentation will be available on the company's website: www.esorfranki.co.za, from 23 August 2011.
24-Jun-2011
(Official Notice)
At the annual general meeting of Esorfranki shareholders held today, 24 June 2011, all the resolutions as set out in the notice of annual general meeting to shareholders, were approved by the requisite majority of shareholders, with the exception of ordinary resolution 5 - authority to issue unissued shares and ordinary resolution 6 - authority to issue shares for cash.
26-May-2011
(C)
Revenue decreased to R1.4 billion (R1.9 billion). Gross profit declined to R161.4 million (R496.8 million) and results from operating activities showed a loss of R16.4 million (profit of R305.6 million). The net attributable loss amounted to R40.8 million (profit of R197.6 million). In addition, a headline loss per share of 12.9c (earnings of 71.3cps) was made.



Outlook

With 3.5% GDP growth in South Africa anticipated in 2011, increasing to 4% in 2012, a gradual recovery in the economy is evident. Nonetheless market conditions are expected to remain challenging in the short-term with a real improvement only noticeable in 2012 and more strongly in 2013. Positively, Esorfranki has concluded loss-making contracts and secured a number of substantial new projects, which affirm the first signs of improving trading conditions.



Although sub-Saharan Africa offered little respite for the group during the year, high GDP growth targets in buoyant regions including Mozambique and Angola bode well for future growth. Other regions such as Mauritius and Tanzania also offer robust prospects and the group has secured a R35 million contract in Mozambique and aR27 million contract in Tanzania. Esorfranki is further targeting R200 million worth of work in Angola.



A key growth driver in sub-Saharan Africa is expected to be the increasing demand for beneficiated resources. In addition the desperate need for infrastructure development in power, water, transport and resources should result in inevitable investment, especially given the South African Government's recently-reiterated commitment in this regard. Esorfranki is well-positioned to take advantage of new projects coming to market.
10-May-2011
(Official Notice)
Esorfranki is currently finalising its financial results for the year ended 28 February 2011. Shareholders are advised that the company expects a basic loss per share of between 13.5 cents and 14.5 cents and a headline loss per share of between 12.5 cents and 13.5 cents. As set out in the interim results announcement dated 26 October 2010, a number of factors negatively impacted on the group throughout the year. These included difficult trading conditions in a contracting construction sector such as a dearth of contracts coming to market, contract award delays and cancellations, the non- award of tenders, unusual inclement weather, the disruptive effects of the FIFA 2010 Soccer World Cup and post-event lag and intensifying competition, all of which have combined to reduce operating margins. The group further incurred once-off restructuring costs of approximately R7 million and contract losses for the year of approximately R90 million. The relevant problematic contracts have now been concluded. Esorfranki's work in hand and future pipeline remain healthy, with a secured order book in excess of R1.9 billion as at the date of this announcement and imminent awarded work pending of approximately R1.2 billion. The company's financial results for the year ended 28 February 2011 are expected to be published on SENS on or about 26 May 2011.
08-Mar-2011
(Official Notice)
Shareholders are referred to the announcement released earlier today and are advised that Sanlam Investment Management (a division of Sanlam Life Insurance Ltd) and/or Sanlam Investment Management (Pty) Ltd will receive 14 862 821 new ordinary shares pursuant to their underwriting commitment in respect of the rights offer.
08-Mar-2011
(Official Notice)
Esorfranki announces the results of the rights offer of 93 023 256 new ordinary shares in the ratio of 30.786 new ordinary shares for every 100 ordinary shares held on the record date at a subscription price of R2.15 per new ordinary share ("rights shares"). In terms of the rights offer:

*shareholders and their renouncees applied for 18 709 152 new ordinary shares (20.11% of the rights shares);

*59 451 283 new ordinary shares (63.91% of the rights shares) were taken up by Coronation Asset Management (Pty) Ltd in terms of an Underwriting Agreement;

*14 862 821 new ordinary shares (15.98% of the rights shares) were taken up by Sanlam Investment Management (a division of Sanlam Life Insurance Ltd) in terms of an Underwriting Agreement, resulting in the issued share capital of the company increasing by 93 023 256 ordinary shares to 395 185 430 ordinary shares.

28-Jan-2011
(Official Notice)
09 Dec 2010 13:40:15
(Official Notice)
25 Nov 2010 11:45:34
(Official Notice)
The board of directors of Esorfranki propose raising approximately R200 million by way of a fully underwritten renounceable rights offer at an issue price of 215 cents per share. The terms of the underwriting have been agreed in principle and are in the process of being finalised.



Further information

Shareholders will be advised in due course of the salient features of the underwriting agreement/s and the rights offer, as well as the salient dates and documentation pertaining thereto.



Cautionary announcement

Shareholders are advised to exercise caution when dealing in the company's securities until a further announcement relating to the proposed rights offer is made.
26 Oct 2010 08:14:11
(C)
Revenue declined by 26.3% to R750.8 million (R1 billion) and gross profit fell by 49.3% to R147.5 million (R291.1 million). Net attributable profit attributable slumped by 89.3% to R12.3 million (R114.9 million). In addition, headline earnings on a per share basis fell by 90.1% to 4.1cps (41.3cps).



Outlook

The board remains positive of the group's growth prospects in the second half of the year notwithstanding prevailing market conditions, clients experiencing liquidity constraints and decline in demand continuing to result in project cancellations and postponements. Esorfranki's order book stood at R1,0 billion at 31 August 2010, which includes R300 million worth of orders to be completed in the 2012 financial year. The group is short listed for the award of a further R1 billion of potential projects in the short term.



However, a number of adverse factors outside of Esorfranki management's control may continue to impact on these and other future opportunities. The factors include the non-award of tenders, ongoing funding constraints hampering client activity and increasingly tight competition.



In the long term general prospects are more positive. The economy is slowly recovering and projects are likely to go ahead as spending is inevitable to facilitate positive annual GDP growth. This optimistic outlook is underpinned by Government's reiterated commitment to infrastructure. The need for considerable spending in certain sectors should drive work despite tough economic conditions, such as in water and sanitation, road infrastructure and power (the current infrastructure will reach the end of its efficient life cycle by 2020/25). The group will maintain its established presence across Sub-Saharan Africa to capitalise on growth opportunities in this region. Conditions in certain areas such as Mauritius and Mozambique are showing sustainable buoyancy, and while only comprising a small portion of Esorfranki's offshore revenue currently, these areas are growing healthily in contribution.
05 Oct 2010 16:04:52
(Official Notice)
Further to the trading update released on 16 July 2010 the group advised that it expects basic and headline earnings per share for the six months ended 31 August 2010 to be between 85% and 95% lower than those achieved in the corresponding period. The group remains positive that the second half of the 2011 financial year will reflect an improvement on the first half of the same financial year.
21 Sep 2010 17:02:32
(Official Notice)
Esorfranki has published its latest investor newsletter on its website at www.esorfranki.co.za.
16 Jul 2010 13:47:28
(Official Notice)
Shareholders are advised that the results of the 2011 financial year are expected to be lower than those achieved for the corresponding period. As reported in our latest's presentation to the market during May 2010 we indicated that the first half of 2011 financial year will be slow. The performance in the first half of the 2011 financial year is being severely impacted by a number of factors, including:

*The protracted delay in the award of certain contracts.

*Adverse economic trading conditions in sub-Saharan Africa.

*A slowdown in sector-related economic activity due to the "Soccer World Cup."

*Excessive rainfall in the Gauteng region.

*A decrease in operating margins due to lower activity levels on certain contracts.

*Once-off costs relating to activity-appropriate restructuring initiatives.



The group's order book remains stable at about R1.6 billion of which approximately R150 million has been deferred to the 2012 financial year due to the above factors. With its diversified services offering, and geographical split, the group will continue to explore further opportunities in sub-Saharan Africa. At this stage the group expects basic and headline earnings per share for the six months ending 31 August 2010 to be less than 50% of those achieved in the corresponding period. The group remains positive that the second half of the 2011 financial year will be in line with the corresponding period. A further announcement will follow in due course. The financial information on which this trading statement is based has not been reviewed or reported on by the company's auditors.

25 Jun 2010 12:40:05
(Official Notice)
The board of Esorfranki advises that, at the annual general meeting of shareholders held today, the ordinary resolutions as set out in the notice of annual general meeting contained in the company's 2010 Annual Report, other than the general authority to issue shares for cash, were duly approved by the requisite majority. The special resolution granting a general mandate to the directors to conduct share repurchases at the appropriate time and within prescribed limits was similarly adopted and will be submitted to CIPRO for registration.

26 May 2010 13:37:19
(C)
Revenue increased from R1414 million to R1857 million in 2010.Gross profit rose to R496 776 million (2009:R432 893 million) and EBITDA increased to R389 052 million (2009:R325 923 million). Profit attributable to ordinary shareholders increased to R197 641million (2009:R143 382 million). Headline earnings on a per share basis increased to 71.3cps (2009:61.7cps).



Dividends per share

A final dividend of 15cps was declared for the period under review.



Prospects

The board remains positive that Esorfranki is on track to achieve its targets for the year ahead despite the continued tough trading conditions. With an order book in hand of approximately R1,6 billion (Geotechnical: R534 million; Esorfranki Civils: R726 million; Esorfranki Pipelines: R314 million) prospects for growth are sufficiently promising to support the board's optimistic outlook. Esorfranki will continue to focus on Africa and is expected to benefit from an established presence and operating track record in growth nodes on the continent. In the Geotechnical business unit the intention is to significantly escalate the foreign contribution to revenue from 27% to 40% to improve growth. Esorfranki is therefore actively re-deploying plant and personnel across the continent including to Angola, Botswana, the DRC and Mozambique. Esorfranki Civils anticipates continued construction projects, with work phases on the Medupi Power Station expected to come back on-stream following the IMF loan award to Eskom. In addition, the business unit is targeting opportunities in the mining sector, particularly in the coal and platinum arenas. Esorfranki Pipelines is expected to benefit from increasing demand in KwaZulu- Natal, Gauteng and Mpumalanga mainly from municipalities and parastatals including Trans-Caledon Tunnel Authority.
26 Mar 2010 09:12:23
(Official Notice)
Shareholders were advised that, with effect from 1 April 2010, Mr. Iain Stephen will no longer fulfil the role of company secretary but will remain as the financial director for Franki Africa (Pty) Ltd, a wholly owned subsidiary of Esorfranki, and Ithemba Governance and Statutory Solutions (Pty) Ltd has been appointed as the company secretary of Esorfranki.
04 Mar 2010 12:54:35
(Official Notice)
Shareholders are advised that Mr Mlungisi Hlongwane has, with effect from 26 February 2010, resigned as a non-executive director of the company.
02 Dec 2009 15:34:22
(Official Notice)
Shareholders are advised that Mr Johan van Reenen has, with effect from 30 November 2009, resigned as an alternate director to Dr F Sonn.
04 Nov 2009 09:34:58
(C)
Revenue increased by 76% from R578.6 million to R1.0 billion in 2009. Gross profit increased 84% to R291.0 million (2008:R158.5 million). Profit before taxation increased 87% to R160.7 million (2008:R85.8 million). Profit after taxation increased by 106% to R114.8 million (R55.8 million). Headline earnings on a per share basis increased to 41.30cps (23.0cps).



Dividends per share

No interim dividend was declared for the period under review.



Prospects

Notwithstanding harsh market conditions the board remains positive regarding the group's growth prospects. With the order book at R1.2 billion as at 31 August 2009, Esorfranki is well on track for the year ending February 2010. All operating units are expected to continue benefiting from government infrastructure spend with projects at Kusile Power Station, the NMPP pipeline and Medupi power station already underway. The group will maintain its established presence across sub-Saharan Africa to capitalise on growth opportunities in this region.
05 Oct 2009 13:19:30
(Official Notice)
Shareholders are advised that the directors of Esorfranki expect the headline earnings per share and earnings per share for the six months ended 31 August 2009 to be between 75% and 85% higher than the headline earnings per share and earnings per share for the six months ended 31 August 2008. It is expected that the results for the six months ended 31 August 2009 will be released on or about 4 November 2009.
17 Sep 2009 12:02:49
(Official Notice)
In terms of the Patula acquisition announcement, dated 22 September 2008, a final maximum payment of R190 million would be payable to the Patula vendors in the event that the Patula group achieved its February 2009 profit warranty. In terms of the agreement, 60% of the final payment is to be discharged in cash and the balance settled through the issue of 12 666 667 Esorfranki shares at an issue price at the greater of R6.00 per share and the 30 days VWAP at which the Esorfranki shares traded preceding the date upon which the February 2009 profit warranty was finally agreed.
07 Jul 2009 09:44:15
(Official Notice)
Esorfranki made a number of new appointments at subsidiary board level. These appointments are in line with the strategy to streamline reporting structures and realign group operations following the acquisitions of Patula Construction (Pty) Ltd and Shearwater Plant Hire (Pty) Ltd in late 2008.



Roy McLintock (56), Managing Director of Franki Africa (Pty) Ltd for the past ten years, was appointed Managing Director of Esor Africa (Pty) Ltd with effect from 1 May 2009. Bruce Atkinson (32) was appointed to the board of Esor Africa (Pty) Ltd as Financial Director with effect from 31 May 2009. Richard Maynard (45) was appointed as Managing Director of Esorfranki Civils (Pty) Ltd formerly Patula Construction (Pty) Ltd), with effect from 31 May 2009. Mark Green (38), Tinus Grobler (47) and Eric Stockter (43) were appointed as directors to the board of Esorfranki Civils with effect from 31 May 2009.





26 Jun 2009 13:35:04
(Official Notice)
Shareholders are advised that, at the annual general meeting of shareholders, all the ordinary resolutions were duly approved by the requisite majority. As the company transferred its listing from the Alternative Exchange to the Main Board of the JSE on 25 June 2009, the ordinary resolution granting a general mandate to issue shares for cash was amended at the meeting to comply with paragraphs 5.52(c)(i), 5.52(e) and 11.22 of the JSE Listings Requirements. The special resolution granting a general mandate to the directors to conduct share repurchases at the appropriate time and within prescribed limits was similarly adopted and will be submitted to CIPRO for registration.
24 Jun 2009 15:31:24
(Official Notice)
The JSE has approved the transfer of the company's listing from the AltX to the heavy construction sector of the main board with effect from the commencement of business on Thursday, 25 June 2009.
03 Jun 2009 08:56:03
(Media Comment)
Esorfranki CEO Bernie Krone said that strict fiscal and monetary discipline with an expanded domestic public works programme could see many companies survive the global downturn. Business Day reported that the Gautrain, however, remains the group's single largest contract, having generated turnover of R165 million in the year to February 2009. Krone commented that another R70 million of the Gautrain project has being carried forward to the 2010 financial year.
29 May 2009 15:33:39
(Official Notice)
Shareholders are advised that the annual report for the year ended 28 February 2009 will be dispatched to shareholders on Friday, 29 May 2009 and contains no modifications to the audited results for that year, which were published on SENS on 19 May 2009.



Notice was also given that the annual general meeting of shareholders of the company will be held on Friday, 26 June 2009 at 10h00 at the company's offices, 30 Activia Road, Activia Park, Germiston, Gauteng, to transact the business as stated in the notice of annual general meeting forming part of the annual report.
19 May 2009 08:56:47
(C)
Revenue increased from R1 017 million to R1 414 million in 2009.Gross profit rose to R432 893 million (2008:R271 934 million) and operating profit increased to R233 450 million (2008:R153 107 million). Profit attributable to ordinary shareholders increased to R143 382 million (R116 002 million). Headline earnings on a per share basis increased to 61.70cps (51.30cps).



Dividends per share

A final dividend of 15cps was declared for the period under review.



Prospects

The board remains positive regarding Esorfranki's prospects. The order book of R1.5 billion at the beginning of April 2009 positions the group favourably for the year ending February 2010. The Gautrain project is expected to generate explosive developmental growth around the urban nodes where the stations are located. Notwithstanding the current slowdown in the commercial building sector, Esorfranki believes this is likely to result in high-rise office towers, hotels, apartment blocks and various retail and commercial buildings beyond 2010. All operating units are expected to benefit from Government's reaffirmation of its commitment to infrastructure spend. Esorfranki Geotechnical is already reaping the benefits at Kusile Power Station and the NMPP pipeline; Esorfranki Civils at Medupi Power Station and Esorfranki Pipelines from various pipelines countrywide. Further, SANRAL, Eskom and Transnet all have major projects awaiting tender and the board is confident that Esorfranki will be awarded its share of these. Cross-border the group's established presence in several African economies including Angola positions Esorfranki to capitalise on exciting growth prospects in the sub-Saharan region.
11-May-2009
(Permanent)
Esor Ltd renamed to Esorfranki Ltd on 11 May 2009.
07 May 2009 16:14:01
(Official Notice)
Esor is currently finalising its results for the year ended 28 February 2009 and shareholders are advised that the directors expect the headline earnings per share for the year then ended to increase by between 15% and 25% over those for the previous corresponding period. The financial information on which this trading update is based has not been reviewed or reported on by the company's auditors. The company's results for the year ended 28 February 2009 are expected to be published on SENS on or about 19 May 2009.
29 Apr 2009 15:59:31
(Official Notice)
Shareholders are advised that the special resolution relating to the change of name of the company from "Esor Ltd" to "Esorfranki Ltd" has been registered by CIPRO and accordingly the change of name will be effected as follows:

*Last day to trade under the old name "Esor Ltd" -- Friday, 8 May 2009

*Change of name to "Esorfranki Ltd" on the JSE effective from the commencement of business Monday, 11 May 2009

*Trade commences under the new name "Esorfranki Ltd" under the JSE code "ESR", abbreviated name "ESORFRANK" and new ISIN ZAE000133369 from the commencement of trading -- Monday, 11 May 2009

*Record date for the change of name -- Friday, 15 May 2009
20 Apr 2009 17:28:39
(Official Notice)
The directors advise that, at the general meeting of shareholders held today, shareholders unanimously approved the change of the company's name from "Esor Ltd" to "Esorfranki Ltd". The special resolution pertaining to the change of name will be sent to CIPRO for registration and a further announcement confirming the salient dates and times relating to the name change will be released once the special resolution has been registered.
27 Mar 2009 09:59:32
(Official Notice)
Shareholders are advised that the directors propose to change the name of the company from Esor Ltd to Esorfranki Ltd in order to reflect its largest subsidiary and reinforce the "Franki" brand. Shareholders are advised that a circular, regarding the proposed change of name, including a notice that a general meeting of shareholders will be held on Monday, 20 April 2009 at 10:00 at the company's Gauteng office, 30 Activia Road, Activia Park, Germiston in order for shareholders to consider and, if deemed fit, approve, with or without amendment, the special and ordinary resolutions necessary to effect the change of name, will be posted to shareholders on or about 27 March 2009. Salient dates relating to the proposed change of name:

* Last day for receipt of forms of proxy for the general meeting (by no later than 10h00) -- Thursday, 16 April 2009

* General meeting of shareholders to be held at 10:00 -- Monday 20 April 2009

* Results of the general meeting of shareholders released on SENS -- Monday, 20 April 2009

* Finalisation announcement relating to the change of name published on SENS -- Wednesday, 29 April 2009

* Last day to trade under the old name "Esor Limited" -- Friday, 8 May 2009

* Change of name to "Esorfranki Limited" on the JSE effective from the commencement of business -- Monday, 11 May 2009

* Trade commences under the new name "Esorfranki Limited" under the JSE code "ESR", abbreviated name "ESORFRANK" and new ISIN ZAE000133369 from the commencement of trading -- Monday, 11 May 2009

* Record date for the change of name -- Friday, 15 May 2009

* Dematerialised shareholder accounts at CSDP and/or

brokers updated -- Monday, 18 May 2009

The above dates and times are subject to amendment and any amendment made will be published on SENS. Shareholders will not be able to dematerialise or rematerialise securities in the name of Esor Ltd after Friday, 8 May 2009 and may only dematerialise their new Esorfranki Ltd shares from Monday, 18 May 2009.
09 Feb 2009 10:47:27
(Official Notice)
After full consultation between the company's executive committee and the company's board, the directors agreed that the company's board should be streamlined for purposes of good corporate governance and in order to pursue the next growth phase of the company. Accordingly, the following changes to the board will be effected from 5 February 2009:

* The appointment of Mr Malemadutje Briss Mathabathe as a non-executive director. This appointment relates to the recent agreement entered into between the company and Patula Construction (Pty) Ltd in terms of which Briss would be appointed to the Esor board. Briss serves as a director on a number of boards and is currently the managing director of Imbani Coal. He has extensive experience in all aspects of the initiation, structuring, implementation and operation of capital investment projects and is well-known to Government, parastatals, development agencies, export bodies, contractors and financiers.

* The resignations of the following executive directors: Roy McLintock; Mauro Trevisani; Arthur Field and Michael Barber, who will all remain within the Esor group as executive directors of their operational entities.
15 Dec 2008 08:16:00
(Official Notice)
Shareholders are advised that Esor has appointed Vunani Corporate Finance as its designated adviser with effect from 15 December 2008.
28 Nov 2008 16:08:09
(Official Notice)
Shareholders are advised that Esor will issue 675 000 shares at 600c per share to Vunani Corporate Finance or its nominee in settlement of corporate advisory fees due in respect of the acquisitions by the company of Patula Construction (Pty) Ltd and Shearwater Plant Hire (Pty) Ltd. Application will be made to the JSE for the listing of the new shares.
28 Nov 2008 11:39:31
(Official Notice)
The board of Esor announced that all conditions precedent relating to the acquisitions of Patula and Shearwater have been met and that the acquisitions are now unconditional in all respects.
05 Nov 2008 08:01:20
(C)
Revenue increased by 22.2% to R578.6 million (R473.6 million). Gross profit was 9.7% higher at R158.6 million compared to R144.5 million in the comparative period while EBITDA increased 12.3% to R106.2 million (R94.6 million). Attributable profit for the period declined to R55.9 million (R56.2 million). In addition, headline earnings per share amounted to 23cps, down from 25.6cps.



Dividend

No interim dividend has been declared.



Prospects

The outlook for the local civil engineering and construction industry remains buoyant, boding well for Esor's growth. The group is closely aligned to government's infrastructure spend which according to the medium-term budget is set to continue at an unprecedented rate notwithstanding the effects of the current global economic crisis on the South African economy. The market in the Western Cape is slowly showing signs of revival and the group expects to see good work flow from the region going forward. Further, Esor's repositioning as a civil engineering construction group following the acquisitions will enhance its exposure to public sector spend. The benefits of the acquisitions should start to be realised in the six months ahead to year-end but should be felt more fully in the next financial year to February 2010 when they will have been included for a full twelve months. Further, the lower price of oil and falling prices worldwide of commodities including steel should provide some relief on margin pressure going forward. Esor and Franki will also continue to secure contracts in Sub-Saharan Africa across all disciplines. Prospects in countries outside of South Africa remain promising. Development in oil-related infrastructure in Angola is continuing at exceptional levels and Mauritius, Mozambique and Tanzania all offer strong opportunities.
03 Nov 2008 09:57:37
(Official Notice)
Shareholders are referred to the announcement, dated 29 September 2008, relating to the acquisition by Esor of the shares in the issued share capital of Patula and Shearwater and are advised that on 31 October 2008 the Competition Commission unconditionally approved these acquisitions. Shareholders will be advised as soon as all the conditions precedent have been fulfilled.
29 Sep 2008 12:40:56
(Official Notice)
Shareholders are referred to the cautionary announcements dated 9 July 2008, 20 August 2008 and the announcement dated 22 September 2008 relating to the Patula transaction and are advised that, subject to certain conditions precedent, Esor entered into agreements on 26 September 2008 to acquire the entire issued share capital of and all shareholders' claims in Shearwater from Shearwater Group Holdings (Pty) Ltd, as well as the claim of Shearwater Construction (Pty) Ltd against Shearwater for payment of the purchase price payable by Shearwater for the business of Shearwater Construction pursuant to the acquisition by Shearwater of such business.



Subject to certain provisions, the purchase consideration payable by Esor for the Shearwater transaction is the aggregate of:

*an initial amount of R200 million, which amount includes the consideration payable in respect of the claim of Shearwater Construction for payment for the business conducted by Shearwater Construction; and

*a maximum final payment of R20 million (determined on the basis that if the 2009 headline earnings exceed R40 million, the final payment will be an amount equal to R2.00 for every R1.00 by which the 2009 headline earnings shall exceed the sum of R40 million, provided that such final payment shall not exceed the sum of R20 million).

The further cautionary announcement of 22 September 2008 is hereby withdrawn. Shareholders will be notified once the Shearwater and Patula transactions become unconditional.
22 Sep 2008 16:09:19
(Official Notice)
20 Aug 2008 13:40:22
(Official Notice)
Further to the cautionary announcement dated 9 July 2008, shareholders are advised that Esor has entered into acquisitive negotiations with two unrelated companies, Patula Construction (Pty) Ltd and Shearwater Construction (Pty) Ltd, which if successfully concluded may have a material effect on the price of the company's securities. Accordingly, shareholders are advised to exercise caution when dealing in the company's securities until a full announcement is made.
21 Jul 2008 15:07:41
(Official Notice)
Franki Africa (Pty) Ltd ("Franki"), a wholly owned subsidiary of Esor, has entered into an agreement ("the agreement") in terms of which it has acquired the business conducted by Geo Compaction Dynamics (Pty) Ltd ("Geo Compaction") (excluding certain assets and liabilities) from Geo Compaction for R18.045 million ("the transaction").



Background information

Geo Compaction was established in 2002. It specialises in geotechnical contracting services to the civil engineering industry, including dynamic compaction, percussion piling and permanent and temporary lateral support.



Purchase consideration

The purchase consideration is R18.045 million to be settled in cash as follows:

*an initial amount of R14.025 million on the closing date as defined in the agreement; and

*R4.02 million not later than 31 October 2008.



Effective date

The effective date as per the agreement is 1 May 2008 subject to the successful fulfilment of the conditions precedent set out below.



Conditions precedent

The transaction is conditional, inter alia, upon the following outstanding conditions precedent:

*Geo Compaction ceding and assigning its current contracts to Franki; and

*compliance with any regulatory obligations to the extent required by law to effect the transaction.

Warranties and indemnities as are normal in transactions of this nature have been provided.



Renewal of cautionary announcement

Shareholders are advised that negotiations unrelated to the above announcement are still in progress, which, if successfully concluded, may have a material effect on the price of the company's securities. As a result, shareholders should continue to exercise caution when dealing in the company's securities until a further announcement is made.
09 Jul 2008 08:09:19
(Official Notice)
Shareholders are advised that Esor has entered into negotiations, which if successfully concluded, may have a material effect on the price of the company's securities. Accordingly, shareholders are advised to exercise caution when dealing in the company's securities until a full announcement is made.
27 Jun 2008 11:43:07
(Official Notice)
The board of directors have approved the replacement of Mr ML Trevisani by Mr W van Houten as Financial Director of Esor with effect from 27 June 2008. Mauro will remain as executive director of Esor.
27 Jun 2008 11:41:36
(Official Notice)
All the ordinary resolutions except for ordinary resolution number 1, issue of shares for cash, as set out in the notice of general meeting, contained in the company?s annual report, were duly approved by the requisite majority. The special resolution, granting a general mandate to the directors to conduct share repurchases at the appropriate time and within the prescribed limits, was similarly passed with the requisite majority and will be submitted to CIPRO for registration.
25 Jun 2008 10:57:57
(Media Comment)
The Sunday Times Business Times quoted Esor CE Bernie Krone as saying that the group's workload has not slowed down. Krone also said that the "2010 world cup is going to be huge" but that there "will be a lot of development after that as well".
02 Jun 2008 11:55:40
(Official Notice)
Shareholders are advised that the annual financial statements were distributed today and contain no modifications to the audited results, published on SENS on 21 May 2008. Notice was also given that the 2008 annual general meeting of shareholders will be held on Friday, 27 June 2008 at 10:00, at the offices of the company at 30 Activia Road, Activia Park, Germiston, Johannesburg.
21 May 2008 08:16:09
(C)
Group revenue soared to R1 billion from R291.4 million in the previous year. Earnings before interest, taxation, depreciation, and amortisation (EBITDA) increased by 243% to R183.5 million from R53.5 million. This contributed to a more than 200% increase in the net profit for the year attributable to ordinary shareholders to R116 million (R34.1 million). Headline earnings jumped 240% to R115.3 million (R33.9 million) equating to 51.3cps (22.5cps).



Dividend

A final ordinary dividend of 20cps has been declared.



Prospects

Prospects for the upcoming year look positive with 60% of the order book for the year to February 2009 in hand, and key projects targeted and identified to achieve the balance. The Gautrain is expected to continue as a strong growth driver and further, is stimulating major development within the radius of its stations' use areas.



As a major participant in government's infrastructure spend, Eskom's commitment to energy development and private sector investment, Esor is well-positioned to withstand the current economic downturn. The directors believe that a period of consolidation may follow which will be to the long-term benefit of the industry. As the group is cash positive and major capex spend has already been incurred, the impact on Esor of rising interest rates will be mitigated to a large extent. In addition the impact on Esor of exchange rate fluctuations is mitigated by forward cover on contracts.



The directors further believe that ongoing penetration into Africa offers good growth prospects and Esor plans to leverage Franki's established base in sub-Saharan Africa to this end. The Franki acquisition has proved incredibly successful with the group leveraging the synergistic benefits in areas such as plant, marketing, resources and human resources. Further acquisitions that could present similar benefits for the group in complementary fields, or which could assist Esor in diversifying, will be considered in the year ahead.
03 Mar 2008 08:40:08
(Official Notice)
Shareholders are advised that Esor has just completed its full year trading for the twelve months ended 29 February 2008 and are advised that Esor`s earnings and headline earnings per share for this period are expected to be between 45 and 50 cents per share compared to 22.6 cents earnings per share and 22.5 cents headline earnings per share for the twelve months ended 28 February 2007. This equates to an increase of between 100% and 120% over that of the corresponding period. The results for the year ended 29 February 2008 are expected to be published on SENS by the middle of May 2008.
11 Jul 2006 10:07:26
(Official Notice)
Esor has won a R10 million piling project for the Tata Ferrochrome Smelter Plant boosting its order book to R94 million, equal to 70% of its forecast revenue.
05 Jul 2006 14:53:27
(Official Notice)
Esor has entered into negotiations, which if successfully concluded may have a material effect on the price of the company's securities. Accordingly, shareholders are advised to exercise caution when dealing in the company's securities until a full announcement is made.
24 May 2006 09:32:29
(C)
Group revenue increased by 25.3% to R125.4 million (R100.1 million) for the year, off which EBITDA grew by 110% to R20.6 million. Operating margins improved dramatically by 115%, reflecting the underlying strength of Esor's operations. During the year the group invested in organic growth through the purchase of capital equipment to the value of R2.2 million and the acquisition of operating premises with an aggregate cost of R11.6 million.



Prospects

Esor intends to use the monies raised pre-listing to continue increasing capacity at its current operations to accommodate rising demand for its services. The construction industry remains robust at present and is expected to maintain, if not exceed, current levels of activity over the short to medium term. The order book for Esor's new financial year already stands in excess of R70 million. The directors are accordingly confident that the group will show real growth in headline earnings per share for the year ending 28 February 2007.



Dividend

In line with strategy to reinvest in the group in order to sustain Esor's growth, no dividend has been declared for the year.
02-Aug-2018
(X)
Esor is one of South Africa?s benchmark civil engineering and construction groups providing specialist construction solutions including: developments, building and housing, infrastructure, pipelines, pipe services and sanitatition.


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