RAND MERCHANT INSURANCE HLDGS LTD - Trading statement: six months ended 31 December 2013

Trading statement: six months ended 31 December 2013

RAND MERCHANT INSURANCE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2010/005770/06)
JSE ordinary share code: RMI
ISIN: ZAE000153102
("RMI” or “the group”)

TRADING STATEMENT: SIX MONTHS ENDED 31 DECEMBER 2013

Paragraph 3.4(b) of the Listings Requirements of the JSE Limited
requires an issuer to publish a trading statement as soon as it
has a reasonable degree of certainty that Earnings Per Share
(“EPS”) and / or Headline Earnings Per Share (“HEPS”) for the
period to be reported on next will differ by at least 20% from
that of the previous corresponding reporting period.

RMI considers Normalised Earnings Per Share (“NEPS”), which
excludes non-operational items and accounting anomalies, as a more
accurate   indicator   of  the   group’s   underlying  operational
performance.

Guidance regarding the expected outcome for the six months ended
31 December 2013 is as follows:
                                                   Guidance for
                                    Six months     the six months
                                    ended          ended
                                    31 December    31 December
Per share (cents)                   2012           2013

NEPS                                 76.5          15% to 20%
                                                   increase
HEPS                                 75.7          20% to 30%
                                                   increase
EPS                                  77.3          30% to 40%
                                                   increase

The financial information on which this trading statement is based
has not been reviewed and reported on by the group’s external
auditors.

RMI’s summarised, unaudited interim results for the six months
ended 31 December 2013 are expected to be released on the Stock
Exchange News Service on Thursday, 6 March 2014.



Sandton
24 February 2014

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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