WESCOAL HOLDINGS LIMITED - Trading statement

Trading statement

WESCOAL HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 2005/006913/06)
Share code: WSL
ISIN: ZAE000069639
(“Wescoal” or “the Company”)


Trading Statement

Shareholders are advised that Wescoal’s reviewed results for the six months ended 30 September 2017 are
expected to be published on or about 21 November 2017.

On a normalised basis, earnings from the Company are expected to be between 27.2 and 29.2 cents per share.
The normalisation is based upon an increase in the number of issued shares and specific non-recurring costs
relating to the acquisition of Keaton. The number of issued Wescoal shares increased to 449 million
(2016: 237 million) in two specific transactions – raising capital through a BEE transaction and issuing shares to
part fund the acquisition of Keaton Energy Holdings (“Keaton”).

Shareholders are advised that the Company expects, with reasonable certainty, that Headline Earnings Per
Share (“HEPS”) and Earnings Per Share (“EPS”) are to vary by the amounts set out in the table below:


                                     30 September 2017        30 September 2016           30 September 2017
                                     (expected range)         (cents per share)         (expected range as a
                                     (cents per share)                                      percentage)

  Headline Earnings Per Share
                                        19.5 to 20.5                  27.8                -26.3% to -29.9%
  (“HEPS”)
  Earnings Per Share
                                        22.0 to 23.0                  27.6                -16.7% to -20.3%
  (“EPS”)
  Normalised Earnings Per
                                        27.2 to 29.2                          Not applicable
  Share


The interim results presentation will be webcast on Tuesday 21st November 2017 at 11:00am at
http://www.corpcam.com/Wescoal21112017.

The financial information on which this trading statement is based has not been reviewed or reported on by
Wescoal’s auditors.

This trading statement is issued in terms of the JSE Limited’s Listings Requirements.


16 November 2017

Sponsor
Nedbank Corporate and Investment Banking

IR Advisor
Singular IR

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