Release Date: 19/09/2014 15:50
Code(s): AND
Wrap Text
Trading statement

(Incorporated in the Republic of South Africa)
(Registration number: 1950/037061/06)
JSE share code: AND ISIN: ZAE000172870
(“Andulela” or “the company”)


In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon
as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported 
upon next will differ by at least 20% from the financial results for the previous corresponding period.

Accordingly, shareholders are advised that for the six months ended 30 June 2014 the company expects that its basic loss
per share and headline loss per share will be between 20 cents and 24 cents, compared to its basic earnings per share and
headline earnings per share of 3.69 cents and 3.39 cents respectively for the six months ended 30 June 2013.

The weaker results expected for the first six months of the current financial year were predominantly the result of the
extended platinum sector strike during which the Platinum Group Metals tailings retreatment operation of Kilken
Platinum (Pty) Ltd posted its first ever trading loss since its acquisition by Andulela in 2008.

The strike was resolved by the end of June 2014 and production started up again in July 2014. The board of directors are
confident of a steady recovery back to the pre-strike levels of production in the near future.

The financial information on which this trading statement is based has not been reviewed or reported on by the
company`s auditors.

Andulela’s interim results for the six months ended 30 June 2014 are expected to be released by no later than
30 September 2014.

19 September 2014

Java Capital

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