MORVEST GROUP LIMITED - Trading Statement

Trading Statement

Morvest Group Limited
(Previously Morvest Business Group Limited)
(Incorporated in the Republic of South Africa)
(Registration No. 2003/012583/06)
Share code: MOR ISIN code: ZAE000152567
(“Morvest” or “the Company”)

TRADING STATEMENT

Morvest shareholders are advised that for the six month period ended 30 November 2014 (“Interim
Results”) the company expects:

-    Revenue is expected to be between 1% and 2% lower compared to revenue of R545 million in the
     previous corresponding period, being the six months ended 30 November 2013 (“previous
     corresponding period”);

-    Headline earnings per share (“HEPS”) is expected to be between 6,55 cents and 6,60 cents
     compared to HEPS of 6,48 cents in the previous corresponding period, an increase of between 1%
     and 2%;

-    Earnings per share (“EPS”) is expected to be between 11,60 cents and 11,70 cents compared to
     EPS of 6,48 cents in the previous corresponding period, an increase of between 79% and 81%.
     The profit on the sale of R and S Consulting is included in the EPS;

-    Net asset value per share is expected to be between 35,0 cents and 35,5 compared to 28.6 cents
     in the previous corresponding period;

-    Net tangible asset value per share is expected to be between 15,0 cents and 16,0 cents compared
     to 11.3 cents in the previous corresponding period;

-    Diluted headline earnings per share is expected to be between 5,5 cents and 6,0 cents compared
     to 6.2 cents in the previous corresponding period;

-    Diluted earnings per share is expected to be between 10,5 cents and 11,0 cents compared to 6.2
     cents in the previous corresponding period;

-    The fully diluted effect on EPS and HEPS is based on 880 million actual shares in issue and is
     expected to be between 6,0 and 6,5 cents per share and 3,0 and 3,5 cents per share.

The financial results on which this trading update has been based have not been reviewed or reported
on by the Company’s auditors. This trading update is required in terms of the JSE Limited Listings
Requirements.

The interim results of the Company will be published on SENS on or about 19 February 2015.

12 February 2015

Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)

Date: 12/02/2015 12:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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