Sharenet Sites 
Sharenet Sites
Initial Trading Statement
VISUAL INTERNATIONAL HOLDINGS LIMITED
(Formerly Presto Financing Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
(“the Company” or “Visual”)
ISIN Code: ZAE000187407 Share code: VIS
INITIAL TRADING STATEMENT
In terms of paragraph 3.4(b)(i) of the Listings Requirements of the Johannesburg Stock
Exchange, listed companies are required to publish a trading statement as soon as they
become reasonably certain that the financial results for the next period to be reported
on will be more than 20% different from those of the previous corresponding period or
from a profit forecast previously provided to the market in relation to such period.
A review of the management accounts and consideration of expected results for the
year ending 28 February 2015 has indicated that the company will report a loss and
headline loss in excess of 6.5 cents per share compared to forecast earnings and
headline earnings per share of 13.09 cents per share as detailed in the Company’s
prospectus for the year ending 28 February 2015. This will represent a decline of more
than 150% compared to the profit forecast. The main reasons for the anticipated loss is
as follows:
- the substantial delay in the transfer of the properties, which in turn delayed the
listing; and
- the length of time for approval of the development plans for the Stellendale
2 Lifestyle Estate, which approval only came through after 9 months in late January
2015. Construction on the Lifestyle Estate is expected to commence shortly.
In comparison to the prior year headline loss of 10.95 cents per share, Visual is expecting
an improvement of at least 30% to a loss of 6.5 cents per share, with an expected decline
of at least 160% from positive earnings per share of 10.90 cents to a loss per share of
6.5 cents.
Shareholders are reminded that the nature of property development results in lumpy
revenue recognition, as revenue is only recognised on the transfer of the property
through the deeds office and that the commencement of construction activities can
only commence once all town council approvals are in place. As indicated in the
prospectus, the projects are not lost but the revenue recognition and associated costs
will move into the following reporting period.
The above information is intended to be an initial trading statement and is subject to
change once the company is closer to finalising its results for the year ending 28 February
2015. The financial information, on which this trading statement is based, has not been
reviewed or reported on by the company’s auditors.
Johannesburg
18 February 2015
Designated Advisor
Arbor Capital Sponsors Proprietary Limited
Date: 18/02/2015 05:45:00 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.
