ING - Ingenuity Property Investments Limited - Trading Statement

ING - Ingenuity Property Investments Limited - Trading Statement                
INGENUITY PROPERTY INVESTMENTS LIMITED                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 2000/018084/06)                                            
ISIN:   ZAE 000127411   JSE share code:  ING                                    
("Ingenuity" or "the company")                                                  
TRADING STATEMENT                                                               
In terms of the JSE Limited Listings Requirements, companies are required to    
publish a trading statement as soon as they are reasonably certain that the     
financial results for the current reporting period will be more than 20%        
different than that of the previous corresponding period or a profit            
forecast previously provided for such period.                                   
In light of the above, Ingenuity expects earnings per share ("EPS") for the     
six months ended 29 February 2012 to be between 60% to 70% lower than the       
prior comparative period. The main reason for the change in the EPS is due      
to the increase in the tax rate computation of Capital Gains Tax which was      
announced in the Budget in February 2012, increasing the inclusion rate from    
50% to 66.67%. The investment properties held by the company are valued         
after providing for deferred taxes on any capital gains and the increase in     
the effective tax rate has been provided for through the income statement.      
The impact is an additional tax charge of R 4.0 million in this period.         
Headline EPS for the six months ended 29 February 2012 is expected to be the    
same as the prior comparative period.                                           
The above information has not been reviewed or reported on by the company`s     
auditors and the company`s results for the six months ended 29 February 2012    
are expected to be published on or about 30 April 2012.                         
Cape Town                                                                       
20 April 2012                                                                   
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 20/04/2012 15:30:02 Supplied by www.sharenet.co.za                     
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