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SOUTH OCEAN HOLDINGS (Registration number 2007/002381/06) Incorporated in the Republic of South Africa
('South Ocean Holdings', 'the Group' or 'the Company') Share code: SOH ISIN: ZAE000092748 Trading Statement
South Ocean Holdings' headline earnings per share for the 12 months ended 31st December 2012 is expected to be between 20% to 30% higher than for the corresponding prior year and earnings per share is expected to be between 100 cents to 110 cents lower than for the corresponding prior year. The decrease in earnings relates to an impairment charge of R175 million to goodwill arising on the acquisition of the Radiant Group in 2007. The impairment was necessitated due to a decrease in earnings of the subsidiary, resulting from current market conditions and the further disruption due to the nationwide transport sector strike in September 2012. As reported in the corresponding prior year, headline earnings per share was 30.6 cents and earnings per share was 29.3 cents.
The financial information on which this trading statement is based has not been reviewed or reported on by South Ocean Holdings' external auditors. The audited results for the 12 months ended 31 December 2012 are expected to be published on or about the 28th February 2013. By order of the board 26th February 2013 Alrode Sponsor Investec Bank Limited
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