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ANDULELA INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1950/037061/06)
JSE share code: AND ISIN: ZAE000172870
('Andulela')
TRADING STATEMENT
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 Andulela expects that its loss and diluted loss for the year ended
31 December 2014 will be between 25 cents per share and 29 cents per share, being between 434% and 488%
lower than its earnings and diluted earnings of 7.48 cents per share for the year ended 31 December 2013.
Andulela also expects that its headline loss and diluted headline loss for the year ended 31 December 2014 will
be between 21 cents per share and 25 cents per share, being between 397% and 454% lower, than its headline
earnings and diluted headline earnings of 7.07 cents per share for the year ended 31 December 2013.
The weaker results expected for the 2014 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 platinum sector strike was resolved by the end of June 2014 and production started up again in July 2014.
Management anticipate a steady recovery back to the pre-strike production output levels in the near future.
The steel processing operations of Pro Roof Steel Merchants (Pty) Ltd also experienced a one month strike in
the steel and engineering sector during 2014 which contributed to the weaker results compared to the prior year.
The financial information on which this trading statement is based has not been reviewed or reported on by
Andulela's auditors.
Andulela's reviewed provisional results for the year ended 31 December 2014 are expected to be released by no
later than 31 March 2015.
20 March 2015
Sponsor
Java Capital
Date: 20/03/2015 05:10:00 Supplied by www.sharenet.co.za
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