AFROCENTRIC INVESTMENT CORP LIMITED - Trading Statement

Trading Statement

AFROCENTRIC INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT, ISIN: ZAE000078416,
(“AfroCentric” or “the Company”)

TRADING STATEMENT
In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE Limited, a listed
company is required to issue a Trading Statement as soon as it is satisfied that a reasonable
degree of certainty exists that headline earnings per share and/or earnings per share, for the
next reporting period will differ by at least 20% from those of the previous corresponding
period.

The Company's Basic earnings in Rand for the year ended 30 June 2015 is likely to be
marginally better than the comparative Basic earnings in Rand for the year ended 30 June
2014. Notwithstanding the aforesaid, this is the first full reporting period for which the fully
dilutive impact of the 2014 share issues for the Preference Share Redemptions and Second
Tranche Payments, will be applied.

As a result thereof, after taking into account the approximately 200 million more shares in
issue during the period under review (being a 73% dilution in total issued shares and a 22%
dilution in weighted average shares), the dilutive effect, on both Basic earnings and Diluted
basic earnings per share and Headline earnings and Diluted headline earnings per share,
has resulted in a decline in each case, and is expected to be between 15% and 20% for
Basic earnings and Diluted basic earnings per share and between 23% and 27%
for Headline earnings and Diluted headline earnings per share for the year ended June
2015.

The following guiding estimates are accordingly provided for the year ended 30 June 2015.


                                                           June 2015               June 2014
                                                range cents per Share*        cents per Share


    Basic earnings                                       32.00 to 34.00                  40.00

    Diluted basic earnings                               32.00 to 34.00                  40.00

    Headline earnings                                    35.00 to 37.00                  47.83

    Diluted headline earnings per share                  35.00 to 37.00                  47.83

*All based on weighted average number of shares in issue

The financial information on which this Trading Statement is based has not been reviewed or
reported on by AfroCentric's Auditors. The Audited Annual Financial Results for the year
ended 30 June 2015 are expected to be published on or about 23 September 2015.

Johannesburg
10 September 2015



Sponsor:
Sasfin Capital
(a division of Sasfin Bank Limited)

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