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SABVEST LIMITED - Trading statement

Release Date: 15/02/2017 12:33
Code(s): SBV SVN     PDF:  
Wrap Text
Trading statement

SABVEST LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1987/003753/06
ISIN: ZAE000006417 SBV Ordinary shares
ISIN: ZAE000012043 SVN N Ordinary shares
(“Sabvest”)

TRADING STATEMENT

Shareholders are advised that the results for the twelve months ended 31 December
2016 are expected to be within the following estimates:

                                                    Change         Expected         Reported
                                                                 31/12/2016       31/12/2015
                                                                      cents            cents

 Net asset value per share                -4,54% to -0,24%     3550 – 3710              3719
 Headline earnings per share              -99,8% to -97,5%          2 – 25            1003,9
 Earnings per share                       -99,8% to -97,5%          2 – 25            1003,9
 Dividends per share - normal                       +10,0%              55                50

The results for 2016 have been affected by negative fair value adjustments largely arising
from falls in the listed share prices of Sabvest’s portfolio holdings in Brait and Torre during
the year and by a one-off increase in the deferred tax liability on fair value adjustments
relating to prior years due to the increase in the enacted rate of CGT.

The figures contained in this trading statement have not been reviewed and reported on
by Sabvest’s external auditors. Audited results for the year ended 31 December 2016 are
expected to be released on SENS at the end of February 2017.


Sandton
15 February 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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