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Trading statement
Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
Share code: REM
(“Remgro” or “the Company”)
TRADING STATEMENT
Paragraph 3.4 (b) of the Listings Requirements of the JSE Limited (“JSE Listings Requirements”)
requires companies to publish a trading statement as soon as they become reasonably certain that their
financial results for the period to be reported upon next will differ by at least 20% from those of the
previous corresponding period.
Remgro’s results for the year ended 30 June 2016 are due to be released on the Stock Exchange News
Service on or about 20 September 2016. In compliance with the JSE Listings Requirements, Remgro
shareholders are advised that Remgro’s reported headline earnings per share (“HEPS”) for the year
ended 30 June 2016 is expected to be between 1 119.6 cents (-28%) and 1 181.8 cents (-24%)
compared to the HEPS of 1 555.0 cents reported for the year ended 30 June 2015.
The decrease in HEPS is mainly due to once-off transaction costs incurred with the Mediclinic
International Limited (Mediclinic) rights issue and Al Noor Hospitals Group plc (Al Noor) transaction
amounting to R788 million, of which R402 million is Remgro’s own costs and R386 million is
Remgro’s share of Mediclinic’s transaction costs, as well as a fair value adjustment of R730 million,
relating to the increase in value of the bondholders’ exchange option of the bonds (accounted for as a
derivative liability) that were issued during March 2016 to partially refinance the foreign bridge
funding that was raised for the Al Noor transaction. The bonds are exchangeable into Mediclinic
International plc (Mediclinic plc) shares and/or cash and fair value adjustments on the option
(reflecting the movement in the underlying Mediclinic plc share price) are likely to cause volatility in
headline earnings during its five-year term.
The financial information on which this trading statement is based has not been reviewed and reported
on by the Company’s external auditors.
Stellenbosch
12 September 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 12/09/2016 03:44:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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