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MPT - Mpact - Trading Statement

Release Date: 22/02/2012 08:00
Code(s): MPT
Wrap Text

MPT - Mpact - Trading Statement Mpact Limited (Incorporated in the Republic of South Africa) (Registration number 2004/025229/06) JSE share code: MPT ISIN: ZAE000156501 ("Mpact" or "the Company") TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited ("JSE"), companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for a reporting period will differ by at least 20% from the results of the previous corresponding reporting period. Mpact successfully listed as a public company on the main board of the securities exchange operated by the JSE on 11 July 2011, following a demerger from Mondi Limited. This event gave rise to special items of cost that will not recur. These include listing costs and the costs of restructuring debt. In order to reflect the earnings effect of these special items, the directors of Mpact have elected to provide an additional measure of underlying earnings per share. In terms of a special resolution passed on 28 April 2011 the number of ordinary shares in issue was increased from 159,950 ordinary shares to 23,192,750 ordinary shares following a share split. Furthermore, on 5 July 2011 an additional 140,853,726 ordinary shares were issued to the then shareholders as part of Mpact`s capital restructuring prior to listing. Consequently the Company listed on 11 July 2011 with 164,046,476 ordinary shares. On the basis of 164,046,476 issued ordinary shares, shareholders are advised that Mpact expects earnings per share ("EPS"), headline earnings per share ("HEPS")and underlying EPS for the year ended 31 December 2011 to be within the ranges shown below: Basic EPS (cents) 52.0 to 56.0 (2010: 22.4) Basic HEPS (cents) 52.0 to 56.0 (2010: 23.1) Underlying EPS (cents) 100.0 to 104.0 (2010: 24.3) The increase in EPS over the prior year is due primarily to lower finance costs attributable to the recapitalisation of the Company prior to listing. Basic HEPS has been calculated in accordance with Circular 3/2009 as issued by the South African Institute of Chartered Accountants. It is anticipated that Mpact will release its results for the year ended 31 December 2011 on SENS on or about 8 March 2012. Shareholders are advised that the financial information on which this trading statement is based has not been reviewed and reported on by the Company`s external auditors. Melrose Arch 22 February 2012 Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Date: 22/02/2012 08:00:02 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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