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AFRICAN DAWN CAPITAL LIMITED - Trading Statement And Renewal Of Cautionary Announcement

Release Date: 09/06/2015 17:30
Code(s): ADW     PDF:  
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Trading Statement And Renewal Of Cautionary Announcement

AFRICAN DAWN CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/020520/06)
Share code: ADW
ISIN Code: ZAE000060703
(“Afdawn” or “the Company”)

TRADING STATEMENT AND RENEWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the detailed cautionary
announcement dated 15 May 2015 relating to the finalisation of
the financial information for the year ended 28 February 2015,
wherein shareholders were advised, inter alia, that there are
material prior period accounting errors in Elite Group
(Proprietary) Limited which are likely to have a substantial
impact (“the Announcement”).

In terms of the Listings Requirements of the JSE Limited, a
listed company is required to publish a trading statement as
soon as it becomes aware that the financial results for the
financial period to be reported on next will vary by 20% or
more from those of the previous comparable period.

Shareholders are hereby advised that a reasonable degree of
certainty exists that for the year ended 28 February 2015, the
Company will report a basic loss per share of between 2.7
cents and 3.3 cents, being an increase of between 15% and 31%,
and a headline loss per share of between 2.8 cents and 3.4
cents, being between an increase of 10% and a decrease of 10%,
compare to the basic loss per share of 3.9 cents and the
headline loss per share of 3.1 cents published for the
previous corresponding period.

Shareholders are advised that the aforementioned trading
statement ranges have been based on the previous comparative
periods’ published results for the year ended 28 February 2014
in accordance with the JSE Listings Requirements and do not
take into consideration any restatement of financial
information as detailed in the Announcement (“Prior Year
Restatement”). Shareholders will be advised in due course once
the Prior Year Restatement is finalised.

The financial information on which this trading statement is
based has not been reviewed and reported on by the Company’s
auditor.

Accordingly, further to the cautionary announcement dated 15
May 2015, shareholders are advised that impact of the Prior
Year Restatement is still in progress of finalisation, which
may have a material effect on the price of the Company’s
securities. Accordingly, shareholders are advised to continue
exercising caution when dealing in the Company’s securities
until a full announcement relating to the Prior Year
Restatement is made.

9 June 2015
Johannesburg

Designated Advisor
PSG Capital

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