AFRICAN AND OVERSEAS ENTERPRISES LD - Trading statement

Trading statement

AFRICAN & OVERSEAS ENTERPRISES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/027461/06)
JSE share code: AOO   ISIN: ZAE000000485
JSE share code: AON   ISIN: ZAE000009718
JSE share code: AOVP  ISIN: ZAE000000493
(“AOE”)


TRADING STATEMENT

In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading
statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial 
results for the current reporting period will differ by at least 20% from the financial results for the
previous corresponding period.

Accordingly, shareholders are advised that AOE’s headline earnings per share for the six months ended 31
December 2015 have improved by 57.5%, from headline earnings of 36.7 cents per share for the six months
ended 31 December 2014 to headline earnings of 57.8 cents per share for the six months ended 31 December
2015.

Shareholders are further advised that:

1.    while the basic earnings of 57.8 cents per share for the six months ended 31 December 2015 will not
      differ materially on a percentage basis from the basic earnings of 52.3 cents per share for the six
      months ended 31 December 2014 to such an extent that the publication of a similar trading statement
      in respect thereof would be required, the amount thereof is nevertheless detailed in this trading
      statement for sake of completeness; and

2.    the main reason for the larger percentage difference in AOE’s headline earnings per share for the six
      months ended 31 December 2015 as opposed to the percentage difference in its basic earnings per
      share for the same period, is that the once-off profit from the sale of a property by AOE’s subsidiary,
      Rex Trueform Clothing Company Limited, in the previous corresponding period was taken into
      account for the purposes of calculating its basic earnings per share in this period, but was not taken
      into account in the calculation of AOE’s headline earnings per share for such period.

The information on which this trading statement has been based has not been reviewed or reported on by
AOE’s auditors. The financial results for the six months ended 31 December 2015 are expected to be
published on or about 4 March 2016.

2 March 2016


Sponsor
Java Capital

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