To view the PDF file, sign up for a MySharenet subscription.

ERB - Erbacon - Trading Statement

Release Date: 11/03/2011 17:45
Code(s): ERB
Wrap Text

ERB - Erbacon - Trading Statement ERBACON INVESTMENT HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration Number: 2007/014490/06) Share Code: ERB ISIN: ZAE000111571 ("Erbacon" or "the Company" or "the Group") TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes reasonably certain that the financial results for the next period to be reported on will show a 20% or more difference from those of the previous corresponding period. In terms of the `Further Trading Statement` published on SENS on 18 October 2010, and the subsequent release of the unaudited condensed interim results for the period ended 31 August 2010, shareholders were advised that management anticipated that construction activity in the second half of the year would prove more beneficial to Erbacon than the first half year. Further to the aforementioned trading statement, the board has established reasonable certainty that the Group will report a basic loss per share of between 21,75 cents per share and 30,8 cents per share, and a headline loss per share of between 19,3 cents per share and 28,3 cents per share, respectively for the financial year ended 28 February 2011 compared to basic and headline earnings per share of 45,33 cents per share and 45,1 cents per share respectively for the prior corresponding period. Included in the calculations above is an increase of 33.8% in the weighted average number of ordinary shares in issue at 28 February 2011 to 192,959,500 ordinary shares (2010: 144,151,421 ordinary shares). The financial information on which this trading statement is based has not been reviewed or reported on by the Company`s auditors. The results for the financial year ended 28 February 2011 will be announced in due course. Shareholders were advised via SENS on 25 February 2011 that Erbacon had entered into preliminary negotiations relating to a possible acquisition by the Company. Accordingly, shareholders are advised to continue to exercise caution when dealing in the Company`s securities until a further announcement is made. 11 March 2011 Designated adviser: PSG Capital (Pty) Limited Date: 11/03/2011 17:45:01 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.

Share This Story