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PETMIN LIMITED
Incorporated in the Republic of South Africa
Registration Number 1972/001062/06
Share Code JSE: PET
ISIN: ZAE000076014
("Petmin" or "the Company")
Trading Update
In terms of the Listings Requirements of 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 period to be reported on will differ by 20% or more from the financial results of the previous corresponding period.
Shareholders are advised that following a solid operational performance at its Somkhele anthracite mine, Petmin's headline earnings for the six months ended 31 December 2015 are expected to increase by approximately 70% to approximately 14 cents per share (2014: 8.4 cents).
Earnings per share (after impairments) for the six months ended 31 December 2015 is expected to be a loss of approximately 7 cents per share compared to the earnings per share of 8.40 cents for the six months ended 31 December 2014. The loss for the six months ended 31 December 2015 is as a result of the decision taken to fully impair the investment in the Veremo project of R115 million due to the lack of acceptable progress in discussions with the majority shareholders of Veremo on how best to take the Veremo project forward and the ongoing litigation relating to the guaranteed payment of R195 million due to Petmin. Notwithstanding the impairment, Petmin is continuing with the arbitration to recover the monies due.
This trading statement and SENS announcement has not been reviewed or audited by the Company`s auditors.
The Company's interim results for the six months ended 31 December 2015 are expected to be published on SENS on 7 March 2016.
Investors, analysts and media are invited to join a 10h00 call with Petmin management on Monday 7 March 2016 following the release of Petmin financial results for the six months ended 31 December 2015.
Dial in details for Petmin results call
10h00 Monday 7 March 2015
Country Access Number
South Africa - Cape Town 021 819 0900
South Africa - Durban 031 812 7600
South Africa - Johannesburg Neotel 011 535 3600
South Africa - Johannesburg Telkom 010 201 6800
UK - Toll-Free 0808 162 4061
USA and Canada - Toll Free 1 855 481 5362
Australia - Toll-Free 1 800 350 100
Other Countries - International +27 11 305 2030
Other Countries - International +27 10 201 6800
Playback Access Numbers (code 45555#)
Country Access Number
Other Countries - International +27 11 305 2030
South Africa 011 305 2030
UK - Toll Free 0808 234 6771
USA and Canada - Toll Free 1 855 481 5363
Enquiries:
Petmin: Bradley Doig
+27 11 706 1644
+27 11 706 1644
Media: Jonathon Rees (Communications and investor relations)
Jonathon Rees (Communications and investor relations)
+27 76 185 1827
+27 76 185 1827
Sponsor and Corporate Adviser
River Group
Johannesburg
3 March 2016
Date: 03/03/2016 03:15:00 Supplied by www.sharenet.co.za
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