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MINE RESTORATION INVESTMENTS LTD - New Trading Statement

Release Date: 27/11/2012 11:17
Code(s): MRI     PDF:  
Wrap Text
New Trading Statement

MINE RESTORATION INVESTMENTS LIMITED
(formerly Capricorn Investment Holdings Limited)
(Registration Number 1987/004821/06)
(“MRI” or “the Company”)
Share code: MRI     ISIN: ZAE000164562


NEW TRADING STATEMENT


In terms of the JSE Listings Requirements, 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 will
differ by at least 20% from the financial results for the
previous corresponding period.

Shareholders are advised that in compliance with IFRS 3:
Business Combinations, the period that will be used by MRI
in reporting its interim results will be the eight month
period ended 31 August 2012, whilst the comparative period
will be the results of Western Utilities Corporation
Proprietary Limited (“WUC”), the wholly owned subsidiary
company of MRI, for the six-month period to June 2011. WUC
was reverse-listed into MRI during June 2012.

Notwithstanding the reporting methodology in the preceding
paragraph, the Company is required insofar as a trading
update is required, to compare the results of MRI for the
eight-month period to 31 August 2012 with the results
published   by  MRI  under   its  former   name,  Capricorn
Investment Holdings Limited, for the six-month period ended
31 August 2011.

Accordingly, shareholders are advised that earnings per
share and headline earnings per share for the eight month
period ended 31 August 2012 are both expected to be between
80% and 90% lower than the earnings per share and headline
earnings per share for the six-month period ended 31 August
2011.

The financial information on which this trading statement
is based has not been reviewed or reported on by the
Company’s auditor.

Johannesburg
27 November 2012
Designated Advisor
Arcay Moela Sponsors (Pty) Ltd
(Registration number 2006/033725/07)

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