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MTN - MTN Group Limited - Trading Statement

Release Date: 04/03/2011 09:10
Code(s): MTN
Wrap Text

MTN - MTN Group Limited - Trading Statement MTN Group Limited (Incorporated in the Republic of South Africa) (Registration number 1994/009584/06) Share code: MTN ISIN ZAE000042164 ("MTN") TRADING STATEMENT MTN is currently finalising its financial results for the year ended 31 December 2010, expected to be announced on Wednesday 9 March 2011. In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE Limited, issuers are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from those of the previous corresponding period. Shareholders are advised that MTN expects an increase of between 18% and 23% in Adjusted headline earnings per share ("Adjusted HEPS") for the year ended 31 December 2010 when compared against the previously reported corresponding period. Attributable earnings per share is expected to differ by between a negative 5% and a positive 1% and Basic HEPS to decrease by between 3% and 8% for the same period against those reported for the previous corresponding period. The adjustments between Basic HEPS and Adjusted HEPS for the year ended 31 December 2010 are the reversal of the impact of the put options that shareholders have on the MTN Nigeria and MTN Afghanistan operations, as well as the impact of MTN Zakhele and the ESOP scheme ("the MTN Zakhele adjustment"). The MTN Zakehele adjustment includes a reversal of all of the costs incurred but does not include the reversal of the impact of the shares issued under the Notional Vendor Finance as these are already reversed in terms of IFRS. This trading statement has neither been reviewed nor reported on by MTN`s external auditors. The information provided in this announcement does not contain and should not be construed as containing any forward looking statements or projections of any nature whatsoever for periods beyond 31 December 2010. Fairland 4 March 2011 Sponsor Deutsche Securities (SA) (Proprietary) Limited Date: 04/03/2011 09:10:48 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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