VOX - Vox Telecom Limited - Trading statement

VOX - Vox Telecom Limited - Trading statement                                   
VOX TELECOM LIMITED                                                             
(Incorporated in the Republic of South Africa)                                  
(Registration Number: 1998/016433/06)                                           
JSE Code: VOX       ISIN Code: ZAE 000097234                                    
("Vox" or "the Company")                                                        
TRADING STATEMENT                                                               
In accordance with paragraph 3.4 (b) of the Listings Requirements of the        
JSE Limited ("the JSE"), a listed company is required to publish a              
trading statement as soon as it becomes aware, with a reasonable degree         
of certainty, 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.                                                           
Accordingly, shareholders are advised that the Company expects to report,       
for the year ended 31 August 2011, an increase in basic earnings per            
share of more than 100% (as the Company expects to generate a basic             
profit per share), when compared to the results published in respect of         
the year ended 31 August 2010 (loss per share of 61.32 cents) and a             
decrease in headline earnings per share of at least 19%, when compared to       
the result published in respect of the year ended 31 August 2010                
(headline earnings per share of 6.45 cents).                                    
The expected increase in the basic earnings per share will be as a result       
of the prior year impairments of goodwill and intangibles amounting to          
R512,618,380 and R328,553,459 (before tax adjustments of R91,994,969)           
which will not be applicable in respect of the current year`s earnings.         
The expected decrease in headline earnings per share will be as a result        
of the loss in earnings due to the change in interconnect rates, the            
decline of customers and gross margins in consumer facing entities, the         
effect of deflation on data revenues and the impact of professional fees        
incurred relating to the proposed transaction as per the circular posted        
to Vox shareholders on 9 September 2011.                                        
When the Company is able to quantify the expected basic earnings per            
share and headline earnings per share with a greater degree of certainty,       
a further announcement containing such details will be made.                    
This trading statement has not been reviewed or reported on by the              
Company`s external auditors.                                                    
Johannesburg                                                                    
11 October 2010                                                                 
Designated Adviser: Grindrod Bank Limited                                       
Date: 11/10/2011 10:49:01 Supplied by www.sharenet.co.za                     
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