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OPT - Optimum Coal Holdings Limited - Trading Statement

Release Date: 02/02/2012 13:22
Code(s): OPT
Wrap Text

OPT - Optimum Coal Holdings Limited - Trading Statement Optimum Coal Holdings Limited (Registration number: 2006/007799/06) JSE share code: OPT ISIN: ZAE000144663 ("Optimum Coal" or "the Company") TRADING STATEMENT Optimum Coal is currently finalising its interim results for the 6 months ended 31 December 2011, which will be released on SENS on or about Thursday, 9 February 2012. In this regard, shareholders are advised that operating cash generated during the 6 month period to 31 December 2011 ("the current reporting period") has surged 62% to R716 million, up from R443 million generated in the period to 31 December 2010 ("the corresponding reporting period"). Operating cash flow has been driven by an increase in Rand export prices and strong export railings which have seen export stocks at operations reduce to 105kt at 31 December 2011 from 503kt as at 30 June 2011. Furthermore, shareholders are advised that earnings per share ("EPS") and headline earnings per share ("HEPS") for the current reporting period are likely to be lower than the EPS and HEPS generated in the corresponding reporting period. The reduction in calculated EPS and HEPS has been considerably impacted by non-cash movements in the statement of comprehensive income. Optimum Coal hereby advises that the forecast ranges of EPS and HEPS for the current reporting period are expected to be as follows: Reviewed period ended Reviewed period ended 31 31 December 2011 December 2010 EPS - IFRS (cps) 66.71 - 81.53 137.47 HEPS - IFRS (cps) 68.44 - 83.65 139.22 Normalised EPS 52.93 - 64.69 109.08 (cps)* 54.30 - 66.37 110.47
Normalised HEPS (cps)* 251 786 186 251 786 186 Weighted average number of ordinary shares in issue (# shares) Effect of own (52 000 000) (52 000 000) shares held** (# shares) Weighted average 199 786 186 199 786 186 number of shares for IFRS purposes (# shares) * The Company feels that is useful and appropriate to disclose normalised EPS and HEPS. Normalised EPS and HEPS are calculated using IFRS earnings, however are based on the total number of issued shares outstanding during the year, ignoring the IFRS accounting effects of the consolidation of the Employee, Community and Executive Share Incentive trusts. The consolidation of these trusts in terms of IFRS results in a deemed reduction in issued share capital of 52 million shares. **52 million shares collectively owned by the Employee, Community and Executive Share Incentive Trusts are deemed to be under the control of the Company and are therefore excluded from the calculation of shares outstanding for IFRS purposes. Headline earnings have been adjusted for the effects of one-off items recognised during the financial year. The financial information on which this trading statement is based has not been reviewed and reported on by the Company`s external auditors. 2 February 2012 Johannesburg Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Financial Communications Advisers COLLEGE HILL Date: 02/02/2012 13:22:01 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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