REUNERT LIMITED - Trading Statement

Trading Statement

REUNERT LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1913/004355/06
ISIN: ZAE000057428
Share code: RLO
("Reunert" or "the Company")

TRADING STATEMENT

Reunert is currently in the process of finalising its results for the year-ended 30 September 2014,
which are expected to be released on SENS on 18 November 2014.

In this regard, shareholders are advised that:
-   Headline earnings per share is expected to be between 452.4 cents and 511.2 cents, reflecting
    a decrease of between 13% and 23% compared to headline earnings per share of 587.8 cents
    in the prior year;
-   Normalised headline earnings per share is expected to be between 500.4 cents and
    557.6 cents, reflecting a decrease of between 2% and 12% compared to normalised headline
    earnings per share of 569.1 cents in the prior year; and
-   Earnings per share is expected to be between 1 172.4 cents and 1 230.8 cents, reflecting an
    increase of between 101% and 111% compared to the earnings per share of 583.2 cents in the
    prior year.

This is largely attributable to:
-  Headline earnings per share and normalised headline earnings per share being affected by:
        o The labour disruptions in the manufacturing and mining industry, which dominated the
            lower performance in the CBI-electric segment.
        o Challenging market conditions, which lead to revenue and margins in the Nashua
            segment not meeting expectations.
        o Delays of a major export order, which resulted in an earnings shortfall in the Reutech
            segment.
        o Further, the combination of these factors lead to certain once-off costs and goodwill
            impairments.
-  In the case of earnings per share, in addition to the above points, the recognition of the sale
   transaction in respect of the customer bases of Nashua Mobile to the networks and Autopage
   as announced earlier this year affected this earnings measure. The Competition Tribunal
   approved the transaction, without conditions, on 26 September 2014.


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

By order of the board of the Company

Woodmead, Sandton
27 October 2014

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

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