SEARDEL INVESTMENT CORPORATION LTD - Trading Statement

Trading Statement

SEARDEL INVESTMENT CORPORATION LIMITED
("Seardel" or "the Company")
Registration number: 1968/011249/06
(Incorporated in the Republic of South Africa)
JSE share code: SER
ISIN: ZAE000029815
JSE share code: SRN
ISIN: ZAE000030144


TRADING STATEMENT

In terms of the Listing Requirements of the JSE Limited, companies are required 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 upon next
will differ by at least 20% from the financial results for the previous corresponding
period.

Seardel accordingly advises that for the year ended 31 March 2013 the Company
expects its financial results to fall within the following ranges:

                                            2013                2012
                                            Cents               Cents

Basic earnings per share                    4 - 8               19.47
Headline earnings per share                 2 - 6               20.86

Shareholders are advised that the prior year basic earnings per share and prior year
headline earnings per share included the once off effect of the settlement with former
directors, details of which were published on SENS on the 16 March 2012.

Seardel accordingly believes that the following adjusted basic earnings and adjusted
headline earnings per share numbers which excludes the once-off effect of the
settlement are more appropriate measurements on which to judge the underlying business
performance:

                                            2013                2012
                                            Cents               Cents

Basic earnings/(loss) per share              4 – 8              (7.79)
Headline earnings/(loss) per share           2 – 6              (6.40)


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

Shareholders are advised that the results for the year ended 31 March 2013 will be
released mid-May 2013.


29 April 2013
Cape Town

Sponsor:
Investec Bank Limited

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