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Trading statement
WESIZWE PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/020161/06)
JSE code: WEZ ISIN: ZAE000075859
(the "Company" or "Wesizwe")
TRADING STATEMENT
In accordance with paragraph 3.4(b) of the Listings Requirements
of the JSE Limited, companies are required to inform shareholders
as soon as there is a reasonable degree of certainty that the
earnings of the company are likely to vary by more than 20%
compared to the previous corresponding period.
The Board of Directors therefore wishes to advise shareholders
that the Company expects to report a basic earnings per share
attributable to ordinary shareholders for the six months ended 30
June 2012 of between a loss of 3.45 cents and a profit of 3.95
cents per share compared to a basic loss per share of 36.97 cents
for the previous comparable period.
The change from a basic loss per share in June 2011 to basic
earnings per share in June 2012 is as a result of interest income
recognised in the Statement of Comprehensive Income for the period
under review as well as a once-off share based payment expense of
R408.0 million that was recognised in the Statement of
Comprehensive Income according to IFRS 2 in June 2011. The share-
based payment expense arose as a result of the subscription for
829 884 460 new shares by Jinchuan, Cadfund and Micawber in
Wesizwe on 4 May 2011 at an effective subscription price of R1.81
per share, compared to a market price of R2.30 per share on the
date of closure.
Headline earnings per share attributable to ordinary shareholders
for the six months ended 30 June 2012 is expected to be between a
loss of 3.41 cents and a profit of 3.91 cents per share compared
to a headline loss per share of 36.61 cents for the previous
comparable period.
The financial information included in this trading statement has
not been reviewed and reported on by the Company’s external
auditors.
The interim results for the six months ended 30 June 2012 will be
released on SENS on or about 27 September 2012.
Johannesburg
19 September 2012
Sponsor: PSG Capital Proprietary Limited
Date: 19/09/2012 05:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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