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ALERT STEEL HOLDINGS LIMITED - Revised trading statement

Release Date: 26/03/2013 11:08
Code(s): AET     PDF:  
Wrap Text
Revised trading statement

ALERT STEEL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/005144/06)
JSE code: AET
ISIN: ZAE000092847
(Alert Steel or the Company)

REVISED TRADING STATEMENT
    
Shareholders are referred to the trading statement released on 20 
March 2013 in which shareholders were advised that the financial 
results for the half year ended 31 December 2012 will differ by at 
least 20% from those of the previous corresponding period.                    

Shareholders were advised that:  
                                  
* the results will show an improvement in loss per share (LPS) 
of between 62% and 69% to a loss of between 0.6 and 0.8 cents per 
share (December 2011: LPS of 2.0 cents per share). 

* Headline loss per share (HLPS) has improved between 67% and 73% 
to a loss of between 0.5 to 0.7 cents per share (December 2011: HLPS 
of 2.0 cents per share).
 
For purposes of comparison, the same number of shares in issue, 
namely 4 092 550 566 shares, were used. It should however be pointed 
out that 1 108 840 297 additional shares were issued on 28 November 
2012. On 10 December 2012 the 5 201 390 863 shares in issue were 
consolidated on the basis of 1 share for every one hundred shares held. 
The issued shares were therefore reduced by 5 149 376 948 shares to 
52 013 915 shares as a result of the share increase and consolidation.

After the share increase and consolidation the results will therefore 
be as follows:
* the results will show an improvement in loss per share (LPS) of 
between 65% and 72% to a loss of between 69.1 and 56.5 cents per share 
(December 2011: comparable LPS of 199.6 cents per share). 

* Headline loss per share (HLPS) has improved between 74% and 78% to 
a loss of between 67.8 to 55.5 cents per share (December 2011: comparable 
HLPS of 256.6 cents per share). 

Shareholders are advised that the information included in this announcement 
has not been reviewed or reported on by the Company`s auditors. 

The results for the six months ended 31 December 2012 are expected to be 
released at the end of March 2013.
     

Pretoria
26 March 2013

Designated Advisor
Exchange Sponsors

   

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