NEW FRONTIER PROPERTIES LIMITED - Correction to Headline Earnings for the Six Months and Nine Months Ended 29 February 2020 and 31 May 2020

Correction to Headline Earnings for the Six Months and Nine Months Ended 29 February 2020 and 31 May 2020

New Frontier Properties Ltd
(Incorporated in the Republic of Mauritius on 5 June 2014)
(Registration number 123368C1/GBL)
SEM share code: NFP.N000
JSE share code: NFP
ISIN: MU0453N00004
("New Frontier” or "the Company” or "the Group”)


CORRECTION TO HEADLINE EARNINGS FOR THE SIX MONTHS AND NINE MONTHS ENDED 29 FEBRUARY 2020 AND
31 MAY 2020 RESPECTIVELY


Shareholders are referred to the results announcement published on 15 April 2020 and 22 July 2020 and are
advised that the headline earnings/(loss) per share computation was incorrect as the gain on liquidation of a
subsidiary should have been deducted in the headline earnings reconciliation. The correct information is
published below:

                                                   Amended          Published           Amended            Published
                                                  9 months           9 months          6 months             6 months
                                                     ended              ended             ended                ended
 Basic and headline earnings per share
                                                    31 May             31 May       29 February          29 February
                                                      2020               2020              2020                 2020
                                                   GBP 000            GBP 000           GBP 000              GBP 000
 Basic profit attributable to equity
 holders of the Company                              6 269              6 269             7 044                7 044
 Fair value movement on investment
 properties                                         (1 776)            (1 776)            1 776                1 776
 Loss on disposal of investment                        378                  -               378                    -
 Gain on liquidation of subsidiary                  (8 750)                 -            (8 750)                   -
 Headline (loss)/earnings attributable to
 equity holders of the Company                        (327)             8 045               448                8 820

 Weighted average number of shares             160 935 407        160 935 407       160 935 407          160 935 407

 Earnings per share
 Basic earnings per share (GBP)                      0.039              0.039             0.044                0.044
 Headline (loss)/earnings per share (GBP)           (0.020)             0.050             0.003                0.055


This is a material correction and the Company has reported the error to the JSE.

New Frontier holds primary listings on both the Official Market of the SEM and the Alternative Exchange of the
JSE.

BY ORDER OF THE BOARD
21 August 2020

This notice is issued pursuant to SEM Listing Rule 11.3, the Mauritian Securities Act 2005 and section 9.20(b) of
the JSE Listings Requirements. The Board of Directors of the Company accepts full responsibility for the
accuracy of the information contained in this announcement. For further information please contact:

                                     SEM Authorised Representative
JSE Sponsor                          and Sponsor                                 Company Secretary
AcaciaCap Advisors                   Perigeum Capital Ltd                        Vistra (Mauritius) Limited
+27 11 480 8500                      +230 402 0890                               + 230 260 7275
                                                                     

Date: 21-08-2020 05:11:00
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