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CLR/CLRP - Clover Industries Limited - Restatement of diluted earnings per share and diluted headline earnings per share. CLOVER INDUSTRIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 2003/030429/06) Ordinary Share code: CLR ISIN: ZAE000152377 Preference Share Code: CLRP ISIN: ZAE000152385 ("Clover Industries" or "the Company") RESTATEMENT OF DILUTED EARNINGS PER SHARE AND DILUTED HEADLINE EARNINGS PER SHARE FOR THE UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2010, PUBLISHED ON 14 MARCH 2011 It has come to the attention of the Company that the diluted earnings per share as disclosed in the interim financial statements for the period ending 31 December 2010 was incorrectly calculated. The diluted earnings and diluted headline earnings per share did not take into consideration the dilutive effect of the Share Appreciation Rights Plan ("SARs Plan"). The weighted average number of shares used in the calculation of diluted earnings and diluted headline earnings per shares should have been 139 703 240 ordinary shares instead of 129 064 377 ordinary shares, taking into consideration the potential dilutive effect of the SARs Plan of 10 638 863 ordinary shares. Taking the above dilutive effect into consideration the diluted earnings and diluted headline earnings per share for the six months ended 31 December 2010 should have been as follow; As per published Restated interim financial statements
Diluted EPS from 75.0 69.2 continuing operations (Cents per share) Diluted EPS (Cents per 75.0 69.2 share) Diluted HEPS from 72.8 67.3 continuing operations (Cents per share) Diluted HEPS (Cents per 72.8 67.3 share) The diluted earnings and diluted headline earnings per share in the audited consolidated financial statements for the financial year ending 30 June 2011, published on 19 September 2011, and set out below are correct: As per published audited annual financial statements for the year ended 30 June 2011
Diluted EPS from continuing 108.9 operations (Cents per share) Diluted EPS (Cents per share) 108.9 Diluted HEPS from continuing 106.2 operations (Cents per share) Diluted HEPS (Cents per share) 106.2 Johannesburg 3 October 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 03/10/2011 16:00:01 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.
