EFFICIENT GROUP LIMITED - Trading Statement

Trading Statement

EFFICIENT GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2006/036947/06)
Share code: EFG          ISIN: ZAE000151841
(“Efficient” or “the Company” or “the Group”)


TRADING STATEMENT


In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading
statement as soon as they become reasonably certain that the financial results for the period to be
reported on will differ by more than 20% from that of the previous corresponding period.

Accordingly, a review of the financial results for the year ended 31 August 2019 (“current financial
year”) by management has indicated that the:

•       earnings per share is expected to be between 30.10 cents and 34.27 cents compared to the
        loss per share (“EPS”) of 317.91 cents for the year ended 31 August 2018; and
•       headline earnings per share is expected to be between 30.89 cents and 34.24 cents compared
        to the headline loss per share (“HEPS”) of 318.18 cents for the year ended 31 August 2018.

During the 2018 financial year, the Group incurred R319 million in cancellation fees in respect of the
cancellation of a profit share agreement (“PSA cancellation”), as detailed in the announcements
released on SENS on 5 July 2018 and 3 August 2018, and in the circular distributed to Shareholders
on 3 August 2018. Cancellation fees of R12 million are included in the results for the current financial
year. The improvement in EPS and HEPS are mainly due to the cancellation fees.

Efficient is expected to report recurring headline earnings per share (“RHEPS”) of between 79.19 cents
and 86.36 cents for the 12 months ended 31 August 2019 (2018:39.85 cents). RHEPS is calculated by
excluding non-recurring items from earnings. PSA cancellation related expenses, including financing
costs, are excluded from earnings for purposes of calculating RHEPS.

The financial information on which this trading statement is based has not been reviewed or reported
on by the Company’s auditors. Efficient’s financial results are expected to be released on SENS on or
about 15 November 2019.

Pretoria
8 November 2019

Sponsor
Merchantec Capital

Date: 08/11/2019 11:20:00
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