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MTA - Metair Investments Limited - Trading statement METAIR INVESTMENTS LIMITED Reg No. 1948/031013/06 (Incorporated in the Republic of South Africa) Share code: MTA ISIN code: ZAE000090692 ("Metair" or "the Group") TRADING STATEMENT In terms of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are reasonably certain that the financial results for the current reporting period will differ by more than 20% from those of the previous corresponding period. Metair is expected to produce solid operating results for the financial period ending 30 June 2011 despite the uncertainty brought about as a result of the fire at the First National Battery ("FNB") plant in Benoni, as announced on SENS on 5 May 2011, and the earthquake and subsequent tsunami in Japan. Accordingly, Metair is pleased to advise its shareholders that it is reasonably certain that the Group`s headline earnings per share ("HEPS") and earnings per share ("EPS") for the six months ending 30 June 2011, will be higher by at least 40% and 45% respectively, compared to the previous corresponding period. The EPS expectation remains subject to the finalisation of Metair`s best estimate of the insurance proceeds relating to the property, plant and equipment ("PPE") portion of the insurance claim relating to the fire at FNB. The best estimate of the amount payable to Metair by its insurers in respect of the damaged PPE will be recognised as income in accordance with International Financial Reporting Standards. For the purposes of this trading statement the insurance proceeds relating to the PPE portion of the insurance claim have been assumed to be the net book value of the affected PPE. However the proceeds, once finally determined, are expected to be higher than the book value as they will represent replacement value. A further trading update will be published by Metair once further certainty regarding the insurance proceeds value, and the actual operating results for the six months ending 30 June 2011 is obtained. The above information has not been reviewed or reported on by the Group`s auditors. 14 June 2011 Johannesburg Sponsor One Capital Date: 14/06/2011 15:25:00 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.
