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TSX - Trans Hex Group Limited - Trading statement TRANS HEX GROUP LIMITED Incorporated in the Republic of South Africa Registration number (1963/007579/06) Share code: TSX ISIN: ZAE000018552 ("Trans Hex" or "the Company" or "the Group") TRADING STATEMENT Trans Hex is currently finalising its results for the year ended 31 March 2009 ("the period"), which should be released on SENS on 26 May 2009. The loss for the period is expected to be R798 million after accounting for pre- tax impairments of R569 million, compared to a loss of R18 million for the previous corresponding reporting period. These impairments include an impairment of the Group`s Angolan investments of R460 million. The Group is expecting to report a loss per share for continuing operations of 690,3 cents (2008: loss of 1,4 cents) and headline loss per share of 585,1 cents (2008: headline earnings of 8,6 cents). Adjusted headline loss per share after accounting for the full impact of the impairments is expected to be 248,4 cents (2008: adjusted headline earnings of 8,6 cents). The financial information on which this trading statement is based has not been reviewed and reported on by the Company`s auditors. COMMENTS The following salient points will be fully reported upon, when the Group releases its results: * Diamond prices dropped significantly from November 2008 to February 2009 and the demand for rough diamonds fell to record lows due to the adverse effect on the diamond market of the global economic crisis. Demand and prices for Trans Hex production has since strengthened. * In response to the global economic crisis, overhead costs have been significantly cut and non cash generative assets have been placed under care and maintenance, notably the following: - PK Plant in South Africa (mothballed) - Shallow water operations (which are in the process of being placed under care and maintenance) - Fucauma operation in Angola - Luarica operation in Angola (which has limited production funded out of diamond sales as and when these sales occur) * The Group had a net cash position at year end of R205 million (2008: R194 million) Cape Town 19 May 2009 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Namibian Sponsor IJG CORPORATE FINANCE (PTY) LTD Date: 19/05/2009 15:34:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
