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REMGRO LIMITED - Trading statement

Release Date: 07/03/2014 17:05
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
their financial results for the period to be reported upon next will differ by at least 20% from those
of the previous corresponding period.

Remgro's interim results for the six months ended 31 December 2013 are due to be released on the
Stock Exchange News Service on or about 18 March 2014. It should be noted that, during the
period under review, Remgro implemented certain new and revised IFRS accounting standards,
which resulted in the restatement of its results for the six months ended 31 December 2012. In
compliance with the JSE Listings Requirements, Remgro shareholders are advised that Remgro's
reported headline earnings per share ("HEPS") is expected to be between 125% and 129% higher
than the restated HEPS of the comparative six months ended 31 December 2012.

As previously reported, Mediclinic International Limited ("Mediclinic") incurred material once-off
charges relating to the refinancing of its Swiss and South African debt during the previous financial
year. Remgro's share of these once-off items included in its results for the six months ended
31 December 2012 amounted to a loss of R1 423 million. Excluding the effect of the once-off items
relating to Mediclinic's refinancing transaction, Remgro's HEPS for the six months ended
31 December 2013 is expected to be between 18% and 22% higher than the restated HEPS of the
comparative six months ended 31 December 2012.

Prior to the restatement of the comparative results for the six months ended 31 December 2012,
Remgro's reported HEPS is expected to be between 111% and 115% higher than the HEPS of the
six months ended 31 December 2012. Excluding the effect of the once-off items relating to
Mediclinic's refinancing transaction and also prior to the restatement of the comparative results,
Remgro's HEPS for the six months ended 31 December 2013 is expected to be between 14% and
18% higher than the HEPS of the six months ended 31 December 2012.

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


Stellenbosch
7 March 2014

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

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