RAND MERCHANT INSURANCE HLDGS LTD - Trading Statement: Year Ended 30 June 2012

Trading Statement: Year Ended 30 June 2012

RAND MERCHANT INSURANCE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2010/005770/06)
JSE Ordinary share code: RMI
ISIN: ZAE000153102
("RMI” or “the group”)

TRADING STATEMENT: YEAR ENDED 30 JUNE 2012

INTRODUCTION
In terms paragraph 3.4(b) of the Listings Requirements of the JSE
Limited, an issuer is required to publish a trading statement as
soon as it becomes apparent that earnings per share (“EPS”) and/or
headline earnings per share (“HEPS”) for the next reporting
period are expected, with a reasonable degree of certainty, to
differ by at least 20% from those of the previous corresponding
reporting period.

RMI regards normalised EPS from continuing operations (which
excludes non-operational items and accounting anomalies) as the
key indicator of the group’s operational performance.

RESTATEMENT OF PRIOR PERIOD COMPARATIVE
Shareholders are advised that following a change in accounting
policy by a subsidiary, normalised EPS, HEPS and EPS for the prior
period ended 30 June 2011 have been restated as follows:

Period ended 30 June 2011            As originally
Per share (cents)                    published       As restated
Normalised EPS –
From continuing operations           128.4           131.5
HEPS -
Excludes extra-ordinary items        106.4           110.0
EPS -
From all activities                  115.6           119.1

RMI’s audited results for the year ended 30 June 2012 will provide
further analysis of the restatement.

EARNINGS GUIDANCE FOR THE YEAR ENDED 30 JUNE 2012
The following guidance is provided to shareholders regarding the
expected outcome for the year ended 30 June 2012:

A.   WHEN COMPARED TO THE RESULTS FOR THE PERIOD     ENDED 30 JUNE
2011 AS ORIGINALLY PUBLISHED
                                   As originally     Guidance for
                                   published         year ended
Per share (cents)                  30 June 2011      30 June 2012
                                                     20% to 25%
Normalised EPS                       128.4           increase
                                                     50% to 55%
HEPS                                 106.4           increase
                                                     30% to 35%
EPS                                  115.6         increase

B.   WHEN COMPARED TO THE RESULTS FOR THE PERIOD ENDED 30 JUNE
2011 AFTER RESTATEMENT
                                                Guidance for
                                   Restated     the year ended
Per share (cents)                  30 June 2011 30 June 2012
                                                20%   to   25%
Normalised EPS                     131.5        increase
                                                45%   to   50%
HEPS                               110.0        increase
                                                25%   to   30%
EPS                                119.1        increase

The financial information on which this trading statement is based
has not been reviewed and reported on by the group’s external
auditors. RMI’s audited results for the year ended 30 June 2012
are expected to be released on SENS on or about Wednesday, 12
September 2012.



Sandton
7 September 2012

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

Date: 07/09/2012 03:04:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.