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ANS - Update on the restructuring of the Group and the trading statement
Ansys Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/001222/06)
(JSE code: ANS ISIN: ZAE 000097028)
(“Ansys” or “the Group”)
Update on the restructuring of the Group and the trading statement
1) Group restructuring completed
Shareholders are referred to the announcement published on SENS on 12 July
2012 regarding the restructuring of the Group. After a strategic review of the
business of Ansys and the business environment in which it operates, the Board
of Ansys decided to restructure the Group, in order to strategically align the
capabilities of Ansys with the operating environment.
The restructuring of the Group also affected the composition of the Board, with
the result that Mr. Rudi Barnard has stepped down from the Board. Once the
position of CEO has been filled, the Board will comprise of two executive
directors and three non-executive directors, of whom two are independent.
The restructuring process has reduced the headcount by 17% and the total
monthly savings on the Group’s salary bill is estimated at 20% from 1 September
2012 onwards.
2) 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 are satisfied that a
reasonable degree of certainty exists that the financial results for the period to be
reported on will differ by 20% or more from the financial results for the previous
corresponding period.
Shareholders are advised that Ansys is currently in the process of finalising its
results for the six months ended 31 August 2012. It is anticipated, with a
reasonable degree of certainty, that Ansys will reflect a basic loss of between 5.5
and 6.5 cents and headline loss per share of between 0.98 cents and 1.15 cents
per share (31 August 2011: basic earnings and headline earnings per share of
3.96 cents per share).
The basic loss per share is due to an impairment of goodwill in Emerging Signals
as a result of the slowdown of business in this division.
Ansys is expecting an improvement in results in the second half of the financial
year to 28 February 2013 due to the costs savings resulting from the
restructuring detailed above.
The financial information on which this trading update is based has not been
reviewed or reported on by the company`s auditors. The company`s results for
the six months ended 31 August 2012 are expected to be released on SENS in
the middle of November 2012.
29 October 2012
Pretoria
Designated Advisor
Exchange Sponsors
Date: 29/10/2012 01:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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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,
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