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Trading Statement
Adcock Ingram Holdings Limited
(Registration number 2007/016236/06)
(Incorporated in the Republic of South Africa)
Share code: AIP
ISIN: ZAE000123436
(“Adcock Ingram” or “the Company”)
TRADING STATEMENT
In terms of paragraph 3.4(b) of the JSE Limited (JSE) Listings Requirements, an issuer is
required to publish a trading statement as soon as the issuer and its directors are satisfied
that there is a reasonable degree of certainty that the financial results for the next reporting
period will differ by at least 20% from those of the previous corresponding period.
Shareholders of Adcock Ingram (“Shareholders”) are referred to the announcements
published on the Stock Exchange News Service (SENS) on 20 and 27 May 2014, wherein
Shareholders were advised that the financial year end of the Company was changed from
30 September to 30 June and that substantive structural and other changes were being
effected within the business. Pursuant thereto, a final assessment on the extent of the
financial impact of providing for these corrective actions remains work in progress.
The board of directors of Adcock Ingram (“Board”) has concluded with absolute certainty
that the financial results for the nine-month period ended 30 June 2014 will result in a basic
and headline loss per share, indicating a significant reversal in the Company’s operating
performance compared to the corresponding nine-month period ended 30 June 2013 and
the year ended 30 September 2013. Furthermore, the effects of the corrective action
referred to above are unlikely to yield significant improvement in the short term. The Board
however remains optimistic about the Company’s long term prospects.
The Board is mindful of the disappointment with which this Trading Statement is likely to be
received, but it is important that the information be released to Shareholders as soon as it
became known. A detailed Trading Statement will be published on SENS in due course.
The financial information on which this Trading Statement is based has not been reviewed
or reported on by the Company's external auditors. The Company's Audited Financial
Results for the nine-month period ended 30 June 2014 are expected to be released on SENS
on or about 28 August 2014.
Midrand
5 August 2014
Sponsor
Deutsche Securities (SA) Proprietary Limited
Date: 05/08/2014 04:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
