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FSR - FirstRand Limited - Impact of unbundling of Momentum Group Limited in terms of IFRIC 17 on basic earnings per share FirstRand Limited Registration No: 1966/010753/06 JSE Code: FSR ISIN: ZAE000066304 ("FSR") NSX share code: FST Certain companies within the FirstRand Group are Authorised Financial Services Providers Trading Statement IMPACT OF UNBUNDLING OF MOMENTUM GROUP LIMITED IN TERMS OF IFRIC 17 ON BASIC EARNINGS PER SHARE FirstRand Limited`s ("FirstRand" or "the Group") basic earnings per share for the six months ended 31 December 2010 are expected to improve by at least 20%. This is due to the significant gain arising from the unbundling of Momentum Group Limited as a dividend in specie to its shareholders at fair value in terms of IFRIC 17 Distributions of Non-Cash Assets to Owners. As a result of this fair value gain and in accordance with the JSE Limited ("JSE") Listing Requirements, the Group is required to issue a trading statement. However, as it is quite early in the reporting period, FirstRand cannot with reasonable certainty, quantify the extent of the impact of the fair value gain resulting from the Momentum unbundling within the 20% range required by the JSE Listing Requirements. Headline earnings per share are not impacted by this fair value gain as it is excluded from headline earnings in terms of Circular 03/09 Headline Earnings. It is anticipated that the Group will provide a further update for the six months ended 31 December 2010 closer to the release of its interim results on or about 8 March 2011. The forecast financial information on which this trading statement is based has not been reviewed and reported on by FirstRand`s external auditors. Sandton 3 December 2010 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 03/12/2010 14:44:01 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.
