TREMATON CAPITAL INVESTMENTS LIMITED - Trading statement August 2021

Trading statement August 2021

Trematon Capital Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/008691/06
Share code: TMT
ISIN: ZAE000013991
("Trematon" or "the Trematon group")

TRADING STATEMENT FOR THE YEAR ENDED 31 AUGUST 2021

In terms of the Listing Requirements of the JSE Limited (“Listings
Requirements”), a listed company is required to publish a trading
statement as soon as it becomes satisfied that a reasonable degree of
certainty exists that the financial results for the period to be
reported on next will differ by at least 20% from those of the previous
corresponding period.

Shareholders are hereby advised that the Trematon group is currently
finalising its annual financial results for the year ended 31 August
2021.

Trematon is an investment holding company and uses earnings, headline
earnings and the intrinsic value model to provide management and
investors with a realistic and transparent way of evaluating
Trematon’s performance. Trematon’s earnings and headline earnings are
inherently volatile and do not provide an accurate indication of the
operations of the Trematon group. Management considers the intrinsic
net asset value (“INAV”) to be the most important financial measure
of value for shareholders. The INAV is compiled using a combination
of listed market prices, external professional valuations and/or
directors valuations, where applicable and reflects the realisable
value of the company based on an efficient disposal of the assets.

The Trematon group expects:


  •   basic loss per share for the year ended 31 August 2021 to be
      between 7.7 cents and 8.0 cents, a decrease of between 285% and
      300% as compared to basic loss of 2.0 cents for the year ended
      31 August 2020 ("the previous comparable period”);
  •   headline earnings per share for the year ended 31 August 2021
      is expected to be between 2.0 cents and 2.3 cents, an increase
      of between 161% and 170%, as compared to a headline loss of 3.3
      cents in the previous comparable period.

The group as a whole achieved operating profits and is cash flow
positive which is reflected in increased cash on hand at year end.
However, due to various non-cash IFRS adjustments and the
strengthening of the Rand to the Pound, the group’s final results
reflected an accounting loss.


  •   intrinsic net asset value per share for the year ended 31 August
      2021 to be between 532 cents and 538 cents, which is between
      2.5% and 3.7% higher than the previous comparable period’s 519
      cents; and
  •   net asset value per share for the year ended 31 August 2021 to
      be between 400 cents and 405 cents, which is between 3.8% and
      2.6% lower than the previous comparable period’s 416 cents.

Further details will be provided in the final Trematon group results
for the year ended 31 August 2021, due to be published on SENS on or
about 19 November 2021.

The financial information on which this trading statement is based
has not been reviewed or reported on by the Trematon group's auditors
in accordance with either 3.4b(viii)(1)(aa) or 3.4b(viii)(1)(bb) of
the Listings Requirements.

Cape Town
12 November 2021

JSE Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)

Date: 12-11-2021 10:00:00
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