W G WEARNE LIMITED - Trading update

 W G WEARNE LIMITED
 (Incorporated in the Republic of
 South Africa) (Registration
 number: 1994/005983/06)
 (Share Code: WEA ISIN Code: ZAE000078002)
 ('Wearne' or 'the Company')


TRADING STATEMENT


Wearne has been suspended since 2016 and has not released financial information to
shareholders as required by the JSE Limited ('JSE').


Shareholders are referred to the SENS announcement released on 8 September 2022
regarding the restatement of the 28 February 2017 and 28 February 2016 results and
the SENS announcement released on SENS on 28 September 2022 regarding the result
of the 28 February 2018 results.


Wearne is currently finalising the release of its audited results for the year ended 28
February 2019.


In terms of section 3.4(b) of the Listings Requirements of the JSE, 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 will differ by at least
20% from the financial results for the previous corresponding period.


The table below illustrates the ranges anticipated for the audited results for the year
ended 28 February 2019:


                 28 February 2018          28 February 2019          % movement as
                      (cents)                   (cents)              compared to 28
                                                                      February 2018
Basic    loss (11.46)                   (7.0) ' (8.6)              25%      -    39%
per share                                                          increase
Headline      (5.31)                    (7.7) ' (9.4)              (45%) ' (77%)
loss      per                                                      decrease
share


It is expected that the audited results for the year ended 28 February 2019 will be
released on SENS by the end of November 2022.


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

17 November 2022
Randfontein

Designated Advisor
Exchange Sponsors

Date: 17-11-2022 10:09:00

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