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RMH - RMB Holdings Limited - Trading statement: six months ended 31 December

Release Date: 03/03/2011 07:05
Code(s): RMH
Wrap Text

RMH - RMB Holdings Limited - Trading statement: six months ended 31 December 2010 RMB HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1987/005115/06) ISIN: ZAE000024501 JSE Ordinary Share Code: RMH ("RMBH" or the "Company") TRADING STATEMENT: SIX MONTHS ENDED 31 DECEMBER 2010 During the interim reporting period ended 31 December 2010, the Company`s associate, FirstRand Limited distributed its interest in MMI Holdings Limited ("MMI") to shareholders as a dividend in specie. This resulted in MMI becoming a directly held associate of RMBH. In addition, another RMBH associate, Discovery Holdings Limited concluded a business combination whereby it acquired the Standard Life Healthcare group and merged that with the PruHealth Group (Discovery`s UK based joint venture). Accounting for these transactions in conformity with International Financial Reporting Standards gives rise to significant non-recurring gains in the RMBH accounts. While such gains did not arise from the performance of RMBH`s ongoing operations and are accordingly excluded from headline earnings per share (as well as normalised earnings per share), they do impact basic earnings per share. In compliance with the Listing Requirements of the JSE Limited, RMBH shareholders are advised that basic earnings per share ("EPS") for the six months ended 31 December 2010 will increase by between 100% and 120% over the EPS of the previous corresponding reporting period. RMBH`s interim results for the six months ended 31 December 2010 will be released on SENS on or about 9 March 2011. The forecast financial information on which this trading statement is based has not been reviewed or reported on by the Company`s external auditors. Sandton 3 March 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 03/03/2011 07:05:01 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.

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