Sharenet Sites 
Sharenet Sites
PET - Petmin Limited - Appointment of financial director, exercise of options, trading statement and renewal of cautionary announcement Petmin Limited (Incorporated in the Republic of South Africa) (Registration number 1972/001062/06) Share code JSE: PET ISIN: ZAE000076014 Share code AIM: PTMN ("Petmin" or "the company") APPOINTMENT OF FINANCIAL DIRECTOR, EXERCISE OF OPTIONS, TRADING STATEMENT AND RENEWAL OF CAUTIONARY ANNOUNCEMENT 1 APPOINTMENT OF FINANCIAL DIRECTOR In compliance with paragraph 3.84(h) of the JSE Listings Requirements, the company is pleased to announce the appointment of Bruce Tanner as Financial Director to the Board of Petmin with effect from 1 July 2009. Bruce joined Petmin in 2005 as Group Financial Manager. Since then he has served on the Petmin Executive Committee and has, effectively, acted as the Chief Financial Officer to the group. Bruce obtained a Bachelor of Commerce degree from the University of Cape Town, a BCompt (Hons) degree (CTA) from the University of South Africa (Unisa) and qualified as a chartered accountant while serving articles at Deloitte in South Africa. He has 12 years of experience in mining finance and administration, five of which have included involvement in the marketing of coal and copper. From June 2002 to November 2004, Bruce was the Chief Operating Officer of AfriOre Limited`s coal operations and the company`s Chief Financial Officer. AfriOre, is a company which was then listed on the Toronto Stock Exchange and had exploration and mining projects in Africa. 2 EXERCISE OF OPTIONS In compliance with rule 3.63 of the JSE Listings Requirements, the following information is disclosed relating to the exercise of options by directors of the company: On 30 June 2009 Lebo Mogotsi and Bradley Doig (both executive directors) directly exercised 4 000 000 options each at an exercise price of 65 cents per share. The directors were compelled to exercise these options before they expired on 01 July 2009. Dawie Warmenhoven, who resigned as a director of the company on 28 February 2009, indirectly exercised 3 000 000 options at an exercise price of 65 cents per share. Johan Gloy (a director of a subsidiary company) directly exercised 1 000 000 options at an exercise price of 65 cents per share and 500 000 options at an exercise price of 45 cents per share. The options were awarded in terms of a share incentive scheme approved on 19 July 2005. Clearance was received in terms of rule 3.66 of the JSE`s Listings Requirements in respect of all the above transactions after confirmation had been obtained from the JSE. 3 TRADING STATEMENT In accordance with the JSE`s listing requirements, which stipulate that a company has to publish a trading statement if an increase or decrease of more than 20% (compared with the previous reporting period) in its basic earnings per share and headline earnings per share is expected, the shareholders of Petmin are hereby advised that headline earnings per share for the year ended 30 June 2009 are expected to be in excess of 20 cents per share, up from 15.31 cents per share for the 12 months ended 30 June 2008, an increase in excess of 30%. This growth in headline earnings per share was achieved by managing operational costs down and optimising revenues through the considered use of long-term offtakes with financially sound counterparties and hedging strategies. Earnings per share for 30 June 2009 cannot be determined at present as the relevant IFRS fair value adjustments and other provisions have not been finalised. The company has concluded the sale of the Springlake Holdings (Pty) Limited ("Springlake") and all outstanding conditions precedent have been met. As a result of delays in meeting all the conditions precedent during which period global market conditions dramatically declined, the final purchase consideration was adjusted in line therewith and as a result of these adverse conditions, the company will receive proceeds of R85 000 000 on the sale. Notwithstanding the reduced price, the Group`s strategic rationale for disposing of Springlake Colliery remains the same - which is to pursue high quality anthracite markets with the high quality resources at Somkhele. THE GROUP ENDED THE YEAR WITH CASH OR NEAR CASH OF APPROXIMATELY R180 MILLION AND UNUTILISED APPROVED BANKING FACILITIES OF APPROXIMATELY R150 MILLION 4 RENEWAL OF CAUTIONARY ANNOUNCEMENT Further to the cautionary announcement dated 18 May 2009 shareholders are advised that negotiations are still in progress which, if successfully concluded, may have a material effect on the price of Petmin`s securities. Accordingly, shareholders are advised to continue exercising caution when dealing in the company`s securities until a further announcement is made. Enquiries: Petmin Nominated Adviser Bradley Doig (COO) +27 824 597 818 Numis Securities Limited John Harrison +44 20 72601000 Sponsor and Corporate Adviser River Group Andrew Lianos +27 83 44083 65 6 July 2009 Johannesburg Sponsor River Group Date: 07/07/2009 11:00:01 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.
