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OAKBAY RESOURCES AND ENERGY LIMITED - Trading Statement

Release Date: 20/11/2015 16:48
Code(s): ORL     PDF:  
Wrap Text
Trading Statement

Oakbay Resources and Energy Limited
(Incorporated in the Republic of South Africa)
Registration number: 2009/021537/06
Share code: ORL
ISIN: ZAE000196085
(“the Company”)


TRADING STATEMENT


In accordance with paragraph 3.4(b) of the JSE Limited (“JSE”) Listings
Requirements, companies are required to inform shareholders as soon as there is a
reasonable degree of certainty that the results to be reported on next, are likely to vary
by at least 20% in comparison to those of the previous corresponding period.

Further to the above, it is expected that the Company will report:

-   a loss attributable to equity holders of the parent and a headline loss attributable
     to ordinary shareholders for the six months ended 31 August 2015 of
     R26.8 million being an improvement of 77.13% in comparison to the loss
     attributable to equity holders of the parent and the headline loss attributable to
     ordinary shareholders of R117.1 million as reported for the six month period
     ended 31 August 2014; and
-    a basic loss per share and headline loss per share for the six months ended
     31 August 2015 of 3.35 cents being an improvement of 99.9999% in comparison
     to the basic loss per share and headline loss per share of 11 708 400 cents per
     share as reported in the comparative six month period ended 31 August 2014.

The main reasons for the above differences are:

-   the effects of the restructure of the Company’s share capital (“Restructure”) on
    basic loss per share and headline loss per share. The Restructure took place after
    the six months ended 31 August 2014 in anticipation of the Company’s listing on
    the exchange operated by the JSE on 28 November 2014. There were 1 000
    ordinary shares in issue as at 31 August 2014 while following the Restructure,
    800 000 000 ordinary shares were in issue as at 31 August 2015. Details of the
    Restructure are set out in the Pre-listing Statement; and
-   the improvement in profitability from increased operating capacity.

The above information has not been reviewed or reported on by the Company’s
auditors.

The Company’s results for the six months ended 31 August 2015 are expected to be
published on SENS on or about 30 November 2015.

Johannesburg
20 November 2015

Sponsor Sasfin Capital (a division of Sasfin Bank Limited)

Date: 20/11/2015 04:48:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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