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PROTECH KHUTHELE HOLDINGS LIMITED - Further announcement regarding once-off costs incurred during the year ended 28 February 2013

Release Date: 12/07/2013 17:15
Code(s): PKH     PDF:  
Wrap Text
Further announcement regarding once-off costs incurred during the year ended 28 February 2013

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Protech Khuthele Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2000/024352/06)
JSE code: PKH & ISIN: ZAE000101986
("Protech" or "the company")

FURTHER ANNOUNCEMENT WITH RESPECT TO ONCE-OFF COSTS INCURRED DURING THE
YEAR ENDED 28 FEBRUARY 2013

Shareholders are referred to the SENS announcement released on 17 May 2013 relating to a trading
update for the year ended 28 February 2013, wherein it was stated that Protech had incurred “once-
off costs, including ongoing professional fees incurred relating to the Eqstra Holdings Limited’s
general offer to acquire the entire issued ordinary share capital of the company that it does not
already own” (“the transaction”).

Although the once-off costs referred to above and the circumstances surrounding the incurrence of
those once-off costs have been disclosed, Protech specifically quantified those once-off costs at a
results presentation in May 2013, and a webcast of the results presentation was posted on Protech’s
website in May 2013. Protech wishes to ensure that all shareholders have been made aware of the
specific amounts of the once-off costs, which are more fully explained in this announcement.

The audited abridged report for the company was released on SENS on 20 May 2013 (“the results”).
The results take into account once-off costs incurred throughout the 2013 financial year amounting to
R21.3 million before tax. These costs relate primarily to the fees incurred in respect of a forensic
audit, transaction related fees and separation agreements. It should be noted that these costs were
not excluded from the 2013 financial year headline earnings determination in terms of Circular 3/2012
Headline Earnings.

Due to the extension of the transaction to September 2013, Protech anticipates that it will continue
incurring transaction related costs in the 2014 financial year.

Johannesburg
12 July 2013

Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

Date: 12/07/2013 05:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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