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ADW - African Dawn Capital Limited - Trading Statement AFRICAN DAWN CAPITAL LIMITED (Incorporated in the Republic of South Africa) (Registration number 1998/020520/06) JSE code: ADW ISIN: ZAE000060703 ("Afdawn" or "the company") TRADING STATEMENT In compliance with paragraph 3.4 of the Listings Requirements of the JSE Limited, a listed company is 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 next period to be reported on are likely to vary by more than 20% from the previous corresponding period. Afdawn wishes to advise shareholders that the company expects a turnaround in the loss per share ("LPS") and headline loss per share ("HLPS") resulting in a earnings per share ("EPS") and headlines earnings per share ("HEPS") for the period ended 28 February 2011 of more than 20% compared to the LPS and HLPS reported on in the prior comparative period (28 February 2010). The company expects an EPS of between 1.45 and 1.70 cents and HEPS of between 0.95 and 1.10 cents which translates into a change of 101.1% to the LPS and decrease of 100.7% in HLPS reported on in the previous corresponding period. The turnaround resulting in earnings per share is mainly due to intensive cost cutting, renegotiations of debtors repayment terms, aggressive collection of debtors, sale of properties, sale of a subsidiary and an increase of security value, that positively impacted the provisions for bad debts. The audited results for the period ended 28 February 2011 will be released on SENS during the last week of May 2011. The information in this trading statement has not been reviewed or reported on by Afawn`s auditors Grant Thornton. Johannesburg 17 May 2011 Designated Advisor Sasfin Capital A division of Sasfin Bank Limited Date: 17/05/2011 15:30:03 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.
