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PET - Petmin Limited - Trading statement 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") Trading statement The 2009 calendar year has been the most difficult year experienced in Petmin`s history because of the turmoil in the worldwide financial markets and its consequential impact on the world commodity markets. Despite this, during the six months ended 31 December 2009, Petmin`s operations maintained healthy profit margins and were cash generative. The JSE`s listing requirements stipulate that a company is required 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 ("EPS") and headline earnings per share ("HEPS") is expected. The shareholders of Petmin are hereby advised that HEPS for the six months ended 31 December 2009 are expected to be 8.28 cents per share, down by 30% from the 11.82 cents per share for the six months ended 31 December 2008. If the results of Springlake Colliery, which was sold in June 2009, are excluded from the comparative period, Headline Earnings per share increased 10% on a like for like basis. EPS for the six months ended 31 December 2009 are expected to be 8.28 cents per share, down from 15.15 cents per share for the six months ended 31 December 2008, a decrease of 45%. This decrease is due to the comparative period including income of R23m generated by Springlake (4.27 cents), once-off income of R33 million (6.06 cents) resulting from the fair value adjustment in terms of IFRS on the acquisition of Petmin`s initial investment in Veremo Holdings (Pty) Ltd, and once-off impairment charges mainly relating to the sale of Springlake amounting to R15 million (2.71 cents). The table below summarizes the impact of Springlake on the comparative figures. Six months Six months Six months Ended ended ended 31 December 31 December 31 December 2009 2008 2008
Excluding Excluding Including Springlake Springlake Springlake HEPS 8.28 7.55 11.82 EPS 8.28 13.37 15.15 Petmin has a healthy balance sheet with cash resources of approximately R 145 million and unutilized facilities at or below prime of R 150 million and has built a stable platform from which to launch and execute its strategy to significantly increase the size of Petmin and to provide superior returns to our shareholders. This trading statement, SENS announcement and RNS announcement has not been reviewed or audited by the Company`s auditors. Petmin`s reviewed results are expected to be published on SENS and RNS on 1 March 2010. Enquiries: Petmin Bradley Doig (COO) +27 824 597 818 Nominated Advisor (AIM) Numis Securities Limited John Harrison +44 207 260 1000 Sponsor and Corporate Advisor (JSE) River Group Andrew Lianos +27 834 408 365 22 February 2009 Johannesburg Sponsor River Group Date: 22/02/2010 08:30:02 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.
