TISO BLACKSTAR GROUP SE - Trading Statement

Trading Statement

Tiso Blackstar Group SE
(Incorporated in England and Wales)
(Company number SE 110)
(registered as an external company with limited liability in the Republic of South Africa under
registration number 2011/008274/10)
LSE Ticker: TBGR
JSE Share code: TBG
ISIN: GB00BF37LF46
(“Tiso Blackstar” or the “Company”)

13 September 2017

                                        TRADING STATEMENT

The Listings Requirements of the JSE Limited (“JSE”) require companies to publish a trading
statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial
results for the period to be reported on next will differ by 20% or more from the financial results of the
previous corresponding reporting period.

Accordingly, shareholders are advised that the Company expects its earnings per share (“EPS”) and
headline earnings per share (“HEPS”) for the year ended 30 June 2017 to fall within the following
ranges:


                                         2017                                        2016

                        Cents per share       Pence per share      Cents per share       Pence per share
   Earnings/(loss)
                          1.25 – 4.65            0.10 – 0.26           (339.40)               (15.81)
     per share

      Headline
   earnings/(loss)      (14.33) – (10.93)       (0.79) – (0.64)        (339.12)               (15.79)
     per share




Effective 1 July 2016, there was a change in the Group's status from an Investment Entity as defined
in IFRS 10 and the subsidiaries Blackstar Holdings Group Proprietary Limited (formerly Times Media
Group Proprietary Limited), Consolidated Steel Industries Proprietary Limited, Robor Proprietary
Limited, and the Company’s property subsidiaries are no longer carried at fair value but rather
accounted for as deemed acquisitions of subsidiaries on 1 July 2016 and consolidated from this date
forward. The net identifiable assets of these subsidiaries have been recognised on balance sheet at
fair value on 1 July 2016 resulting in goodwill being recognised. Investments in associates, Radio
Africa Limited, Multimedia Group Limited and Cooper Communications Limited, which were previously
held at fair value have been equity accounted from 1 July 2016.

In accordance with IFRS, the comparative period ended 30 June 2016 has not been restated and is
disclosed on a fair value basis as has been previously reported. For this reason the comparative EPS
and HEPS differ between the 2016 and 2017 financial periods.

Shareholders are advised that the financial information on which this trading statement is based has
not been reviewed and reported on by the Company’s external auditors.



For further information, please contact:
Tiso Blackstar Group SE                Leanna Isaac   +44 (0) 20 7887 6017

Northland Capital Partners Limited     Tom Price      +44(0) 20 3861 6625

JSE Sponsor: PSG Capital Proprietary   David Tosi     +27(0) 21 887 9602
Limited

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