BASIL READ HOLDINGS LIMITED - Announcement in terms of paragraph 8.40 of the JSE Limited Listings Requirements

Announcement in terms of paragraph 8.40 of the JSE Limited Listings Requirements

Basil Read Holdings Limited
(Incorporated in the Republic of South Africa)
Registration Number 1984/007758/06
Share Code: BSR ISIN: ZAE000029781
("Basil Read" or "the Company")


ANNOUNCEMENT    IN   TERMS   OF   PARAGRAPH   8.40   OF   THE   JSE   LIMITED   LISTINGS
REQUIREMENTS

Shareholders are referred to the reviewed provisional results presentation
booklet for the year ended 31 December 2014 (“Results Booklet”) which was
presented on Friday, 27 March 2015, and which is available on the Company’s
website hosted at www.basilread.co.za, and are advised that the Results
Booklet contained profit forecast information as defined in the Listings
Requirements of the JSE Limited (“JSE”) as set out below:

Outlook                                      2015                       2014
Profit/(loss) after tax              R160 million            (R820.9 million)
Headline earnings/(loss)      120 cents per share    (362.08 cents per share)
per share

The key assumptions that have been used in arriving at these profit forecasts 
are set out below:

-   All loss-making contracts have been fully provided for in the 2014
    financial year;
-   Additional work totalling R700 million expected to be awarded and
    performed during the 2015 financial year;
-   Total revenue expected of at least R5 billion;
-   Minimum gross margins of 9% on average;
-   Overheads of approximately 5.4% of revenue;
-   Net interest costs of R45 million;
-   Taxation charge of approximately 28%;
-   No new shares to be issued during the 2015 financial year; and
-   No claims and/or delay damages have been included in the determination of
    profit after tax

Shareholders are advised that the forecasted financial information has not
been reviewed and reported on by the Company’s Auditors.

Johannesburg
31 March 2015

Company Secretary
Andiswa T Ndoni

JSE Sponsor
Grindrod Bank Limited

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