MASONITE (AFRICA) LIMITED - Restatement of headline earnings per share for the year ended 31 December 2014

Restatement of headline earnings per share for the year ended 31 December 2014

MASONITE (AFRICA) LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1942/015502/06)
Share code: MAS         ISIN: ZAE000004289
(“Masonite” or “the company”)


RESTATEMENT OF HEADLINE EARNINGS PER SHARE FOR THE YEAR ENDED 31 DECEMBER
2014

Shareholders are advised that, following a pro-active monitoring review by the JSE Limited of
Masonite’s annual financial statements for the year ended 31 December 2014 (“2014 AFS”),
a restatement of the headline earnings per share (“HEPS”) is required.

The restatement required arises as a result of the unintentional inclusion of the insurance
proceeds received related to the plant, machinery and equipment and the unintentional
exclusion loss on disposal of plant, machinery and equipment from the explosion at
Masonite’s mill in Estcourt on 6 June 2014.

                                                                                31 December
                                                                                       2014
                                                                                      R’000
Headline earnings as reported in the 2014 AFS                                        20 220
Adjusted for:
Insurance proceeds on plant, machinery and equipment damaged in the                  (2 800)
explosion
Loss on disposal plant, machinery and equipment damaged in the explosion                572
Tax effect of above adjustments                                                         624
Adjusted headline earnings                                                           18 616

HEPS as reported in the 2014 AFS
   Basic (cents)                                                                        283
   Diluted (cents)                                                                      283
Adjusted HEPS
   Basic (cents)                                                                        261
   Diluted (cents)                                                                      261

The adjustment represents a 22 cents (7.8%) decrease in HEPS.

Durban
18 December 2015

Sponsor
Nedbank Corporate and Investment Banking

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