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NETCARE LIMITED - Trading Statement

Release Date: 08/11/2013 16:30
Code(s): NTC     PDF:  
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Trading Statement

NETCARE LIMITED
(Registration number 1996/008242/06)
Code: NTC
ISIN number: ZAE000011953
("Netcare" or "the company")


TRADING STATEMENT

Netcare is in the process of finalising its results for the year ended 30 September 2013. The audited
results for the year ended 30 September 2013 will be released on SENS on or about 18 November
2013.

In terms of rule 3.4 (b) of the JSE Listings Requirements, companies are required 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.

Netcare Limited’s results for the year ended 30 September 2013 will include a non-cash profit of R3
257 million arising on the deconsolidation of the GHG Property Businesses. This profit results from
the decision taken by the Board following an evaluation of the overall factors of control, including a
decision to sell down Netcare’s interests in GHG PropCo 1 to 50.0% (as disclosed together with the
2012 results), that it would no longer be appropriate to consolidate the GHG Property Businesses,
consisting of 41 UK hospital properties acquired between 2006 and 2008. The deconsolidation took
effect from 16 November 2012. Furthermore, certain non-cash adjustments amounting to an
aggregate after-tax charge of R11 428 million were recognized in Netcare’s 2012 results arising from
changes in the underlying accounting assumptions concerning the maturity of certain debt related to
the UK property portfolio. There is no comparable charge in the 2013 financial results.

Shareholders are advised that, predominantly as a consequence of these exceptional non-cash
transactions relating to the GHG Property Businesses, Netcare’s earnings per share (“EPS”) for the
year ended 30 September 2013 will be between 211% and 221% higher than the EPS for the prior
year. Headline earnings per share (“HEPS”) for the year ended 30 September 2013, which excludes
these exceptional non-cash adjustments, will be between 40% and 50% higher than the prior year.

The above information has not been reviewed or reported on by Netcare’s auditors.

Johannesburg
8 November 2013

Sponsor
Nedbank Capital

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