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Trading statement
Verimark Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 1998/006957/06
JSE share code: VMK
ISIN number: ZAE000068011
(‘Verimark’ or ‘the company’)
TRADING STATEMENT
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, an issuer is required to
publish a trading statement as soon as they are satisfied that there is a reasonable degree of certainty
that the financial results for the next reporting period will differ by at least 20% from those of the
previous corresponding period.
As a result of the unwinding of the Verimark BEE structure, in the prior year, as noted in the
announcement released on 4 March 2014, the results for the year ended 28 February 2014 included
a gain in the settlement of the preference share liability of R 7 293 397. This gain was due to the fact
that the preference share liability, which included accumulated interest, exceeded the value of the
treasury shares that were used to settle the preference share liability. The gain was of a non-recurring
nature and a similar gain would therefore not be reflected in the results for the year ended 28 February
2015. This gain, equivalent to 7,02 cents per share, was recognised in both the earnings and headline
earnings per share of the company in the previous corresponding period.
Headline earnings per share and earnings per share for the year ended 28 February 2015 are both
expected to be in the range of 8,5 and 10,5 cents per share, which is a decrease of between 37.8% and
49.7% compared to the headline earnings per share of 16,9 cents per shares and a decrease of
between 38.2% and 50% compared to the earnings per share of 17,0 cents per share respectively, as
reported on in the previous corresponding period.
Both headline earnings per share and earnings per share, excluding the impact of the once off gain
reported in the prior year, are therefore expected to remain within the 20% range of that reported
upon the previous corresponding period.
The information on which this trading update has been based has not been reviewed or reported on
by the company’s auditors.
The Company`s financial results for the year ended 28 February 2015 will be released on SENS on 25
May 2015.
4 May 2015
Sponsor
Grindrod Bank Limited
Date: 04/05/2015 03:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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