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REM - Remgro Limited - Trading statement

Release Date: 28/07/2011 17:05
Code(s): REM
Wrap Text

REM - Remgro Limited - Trading statement Remgro Limited (Incorporated in the Republic of South Africa) (Registration number 1968/006415/06) ISIN: ZAE000026480 Share code: REM ("Remgro" or "the Company") TRADING STATEMENT As previously communicated to shareholders the financial year-end of the Company was changed from 31 March to 30 June. The rationale for the change was to comply with the revised International Auditing Standard 600, as fully set out in the announcement released on SENS on 16 March 2011. As a result of the change in year-end and in order to comply with the Listings Requirements of the JSE Limited ("JSE Listings Requirements") Remgro published a second set of interim results to shareholders for the twelve month period ended 31 March 2011 during June 2011. Remgro is currently finalising its audited financial results for the fifteen months ended 30 June 2011, which is due to be released on SENS on or about 20 September 2011. Paragraph 3.4 (b) of the JSE Listings Requirements requires companies to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported upon next will differ by at least 20% from that of the previous corresponding period. In compliance with the JSE Listings Requirements, shareholders are advised that Remgro`s reported headline earnings per share ("HEPS") for the fifteen months ended 30 June 2011 is expected to be at least 20% higher than the HEPS of the comparative twelve months ended 31 March 2010. This increase in HEPS is mainly due to the extension of the financial reporting period by three months. As Remgro is still awaiting the results of certain investee companies, it is not possible to quantify with reasonable certainty the extent of its results for the fifteen months ended 30 June 2011 within the 20% range required by the JSE Listings Requirements at this stage. A further trading statement will be released on SENS as soon as there is more certainty in this regard. The financial information on which this trading statement is based has not been reviewed and reported on by the Company`s auditors. Stellenbosch 28 July 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 28/07/2011 17:05:01 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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