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Trading Update
BEIGE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/006871/06)
(“Beige” or “the company”)
ISIN Code: ZAE 000034161 Share code: BEG
FURTHER TRADING UPDATE
Shareholders are referred to the trading statement published on 21 April 2015 advising of an
expected increase in the loss per share of between 104% (-2.42 cents per share) and 125%
(-2.68 cents per share) compared to the loss of -1.19 cents per share in the prior comparative
period. At the time of the release of the initial trading statement, the directors had relied on a
‘valuation in use’ value of the property, plant and equipment at both the Chloorkop Cash
Generating Unit (“the Chloorkop assets”) and the QP Durban Cash Generating Unit (“the QP
Durban assets”), which value is higher than the carrying values disclosed in the audited financial
statement for the year ended 30 June 2014.
In their review of the interim financial statements, the auditors have used the ‘valuation less
cost to sell’ value for the both the Chloorkop assets and the QP Durban assets, which has
resulted in an impairment charge of approximately R9.5m. This impairment charge will result in
a higher than expected increase in the loss per share than previously reported. The loss per
share is now expected to reflect an increase of between 155% (-3.03 cents per share) and 165%
(-3.15 cents per share) compared to the loss of -1.19 cents per share in the prior comparative
period.
The financial information on which this trading statement is based has not been reviewed and
reported on by the company’s auditors.
The company will release its results for the year ended 30 December 2014 on SENS before the
close of business today.
30 April 2015
Designated Advisor
Arbor Capital Sponsors Proprietary Limited
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