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REMGRO LIMITED - Trading Statement

Release Date: 11/03/2013 13:52
Code(s): REM     PDF:  
Wrap Text
Trading Statement

Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
Share code: REM
(“Remgro” or “the Company”)

TRADING STATEMENT

Paragraph 3.4 (b) of the Listings Requirements of the JSE Limited (“JSE Listings Requirements”)
requires companies to publish a trading statement as soon as they become reasonably certain that
the financial results for the period to be reported upon next will differ by at least 20% from that of
the previous corresponding period.

Remgro’s interim results for the six months ended 31 December 2012 is due to be released on
SENS on or about 19 March 2013. In compliance with the JSE Listings Requirements, Remgro
released a trading statement on 28 November 2012 whereby shareholders were advised that
Remgro’s reported headline earnings per share (“HEPS”) is expected to be more than 20% lower
than the HEPS of the comparative six months ended 31 December 2011. No range for the expected
deviation in HEPS was provided as there was not reasonable certainty on the results for the six
months ended 31 December 2012 at that stage.

As most of Remgro’s investee companies have now reported their actual results, reasonable
certainty on the results for the six months ended 31 December 2012 has now been obtained.
Accordingly shareholders are advised that Remgro’s reported HEPS is expected to be between 33%
and 37% lower than the HEPS of the comparative six months ended 31 December 2011.

As previously reported, the decrease in HEPS is mainly due to once-off charges incurred by
Mediclinic International Limited (“Mediclinic”) with the refinancing of its Swiss and South African
debt during October 2012. Due to the fact that Mediclinic has a March year-end, Remgro would
normally only have accounted for Mediclinic’s results for the six months ended 30 September 2012
(without making any adjustments) when preparing its interim results for the six months ended
31 December 2012. However, due to the materiality of the amounts involved, the results of
Mediclinic for the six months ended 30 September 2012 has been adjusted with the once-off
charges referred to above before being accounted for in Remgro’s interim results for the six months
ended 31 December 2012.

Shareholders are further advised that, excluding the effect of Mediclinic’s refinancing cost referred
to above, Remgro’s HEPS for the six months ended 31 December 2012 is expected to be between
16% and 20% higher than the HEPS of the comparative six months ended 31 December 2011.

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


Stellenbosch
11 March 2013

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 11/03/2013 01:52:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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