VISUAL INTERNATIONAL HOLDINGS LIMITED - Further trading statement

Further 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

FURTHER 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.

For the year ending 28 February 2015 has indicated that the company will report a loss and
headline loss of 3.71 cents and 4.00 cents per share respectively 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 ended 28 February 2015.

This will represent a decline of 128.34% and 130.56% respectively compared to the profit
forecast. The main reasons for the loss are 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 63.47% to a loss of 4.00 cents per share, with an expected decline of 134.04%
from positive earnings per share of 10.90 cents in the prior year to a loss per share of3.71 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 construction activities can only commence once all town council approvals
are in place, which process took nine months longer than expected. As indicated in the
prospectus, the projects are not lost but the revenue recognition and associated costs will move
into the following year.

The financial information, on which this trading statement is based, has not been reviewed or
reported on by the company’s auditors.

Johannesburg
27 May 2015


Designated Advisor
Arbor Capital Sponsors Proprietary Limited

Date: 27/05/2015 11:40:00 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.