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PNC - Pinnacle Technology Holdings - Trading Statement Pinnacle Technology Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1986/000334/06) Share code: PNC ISIN: ZAE000022570 ("Pinnacle" or "the company") TRADING STATEMENT In terms of the Listings Requirements of JSE Limited ("JSE"), companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on will be more than 20% different from that of the previous corresponding period. Pinnacle`s shareholders are informed that, for the six months ended 31 December 2009, Pinnacle`s turnover increased by 8.2% to R 1.465 billion (31 December 2008: R1.354 billion). Fully diluted headline earnings per share is projected to be between 33.3 and 35.3 cents per share, being between 33.7% and 41.8 % higher than the results of the comparative period (31 December 2008: 24.9 cents per share). Stakeholders are advised that the expiry of the put option on 30 June 2009, relating to the 37 281 647 shares held by Amabubesi Investments (Pty) Ltd, has removed the IFRS requirement to add back these shares when calculating the weighted average shares in issue as used in earnings and headline earnings per share calculations. Earnings and headline earnings per share is therefore based on the increased number of 181 836 624 shares (31 December 2008:145 497 603) Stakeholders are advised therefore to consider Fully diluted headline earnings per Share when comparing financial performance per share to prior years, as Fully diluted headline earnings per share has previously been based on the total number of shares held by equity owners. Earnings per share is projected to be between 28.6 and 30.6 cents per share, (based on 181 836 624 shares) being between 5.9% lower and 0.7% higher than the results of the comparative period (31 December 2008: 30.4 cents per share, based on 145 497 603 shares). Headline earnings per share is expected to be between 33.3 and 35.3 cents per share (based on 181 836 624 shares), being between 9.5% and 16.1% higher than the results of the comparative period (31 December 2008: 30.4 cents per share, based on 145 497 603 shares). Net tangible asset value per share is projected to be between 222 cents per share and 232 cents per share being between 60.5% and 67.8% higher than the results of the comparative period (31 December 2008: 138.4 cents per share) The Acid test ratio is expected to be 1.09 (31 December 2008: 1) and long term debt as percentage of equity 5.2% (31 December 2008: 5.75%) The above information has not been reviewed or reported on by the company`s auditors. The company`s financial results for the 6 months ended 31 December 2009 are expected to be published on or about 23 February 2010. The half year results presentation will be held at Investec Bank in Sandton on 24 February and Investec Bank in Cape Town on 25 February 2010. Presentation details are available from Allecia Haveman on Alleciah@pinnacle.co.za, telephone number 011 265 3025. Midrand Thursday, February 11, 2010 Sponsor Deloitte & Touche Sponsor Services (Pty) Limited Date: 11/02/2010 11:12:03 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.
