AFRICAN AND OVERSEAS ENTERPRISES LD - Further trading statement

Further trading statement

AFRICAN & OVERSEAS ENTERPRISES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/027461/06)
JSE share code: AOO   ISIN:ZAE000000485
JSE share code: AON   ISIN:ZAE000009718
JSE share code: AOVP  ISIN:ZAE000000493
(“AOE”)


FURTHER TRADING STATEMENT


Shareholders are referred to the trading statement released on SENS on 23 February 2015 wherein AOE stated that
while it had moved to a profit making position in the current reporting period from a loss making position in the
previous corresponding period, it did not have reasonable certainty to provide guidance as to either the specific
percentage and numbers, or the range and numbers, to describe the difference in the financial results in such periods and
stated further that it expected its earnings per share to improve by at least 345% and its headline earnings per share to
improve by at least 233% for the six months ended 31 December 2014 compared to the six months ended 31 December
2013.

AOE is now in a position to advise shareholders that its:

1.    earnings per share have improved by 377%, from losses per share of 18.9 cents for the six months ended 31
      December 2013 to earnings per share of 52.3 cents for the six months ended 31 December 2014 (which amount
      takes into account the profit earned by AOE’s subsidiary, Rex Trueform Clothing Company Limited, in respect of
      the sale of one of its properties); and

2.    headline earnings per share have improved by 259%, from headline losses per share of 23.1 cents for the six
      months ended 31 December 2013 to headline earnings per share of 36.7 cents for the six months ended 31
      December 2014 (which amount does not take into account the profit earned by AOE’s subsidiary, Rex Trueform
      Clothing Company Limited, in respect of the sale of one of its properties).

The information on which this trading statement has been based has not been reviewed or reported on by AOE’s
auditors. The interim results for the six months ended 31 December 2014 will be released on or about 10 March 2015.

6 March 2015


Sponsor
Java Capital

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