INGENUITY PROPERTY INVESTMENTS LIMITED - Trading statement

Trading statement

INGENUITY PROPERTY INVESTMENTS LIMITED
 (Incorporated in the Republic of South Africa)
(Registration number 2000/018084/06)
ISIN: ZAE 000127411 JSE share code: ING
(“Ingenuity” or “the company”)


TRADING STATEMENT

In terms of the JSE Limited Listings Requirements, companies are required to publish a
trading statement as soon as they are reasonably certain that the financial results for
the current reporting period will be more than 20% different than that of the previous
corresponding period or a profit forecast previously provided for such period.

In light of the above, Ingenuity expects to announce for the six months ended 29
February 2016, earnings per share (“EPS”) of between 4.9 cents and 5.9 cents (2015: 7.2
cents) which is a decrease of between 18% and 32% over the prior comparative period.

This decrease is due to an adjustment to deferred tax liability on the fair value
adjustments to investment properties as a result of the increase in the CGT (capital
gains tax) inclusion rate from 66.6% to 80% announced by the Minister of Finance in his
recent budget introduced in the National Assembly in February 2016. The
announcement in the budget speech constitutes substantively enacted change in the
effective CGT rates at 28 February 2016 in terms of Financial Reporting Guide 1
Substantively Enacted Tax Rates and Tax Laws. The increase in the CGT inclusion rate
has no impact on Headline earnings per share.

The above information has not been reviewed or reported on by the company’s auditors
and the company’s consolidated results for the six months ended 29 February 2016 are
expected to be published on or about 29 April 2016.

Cape Town
21 April 2016

Sponsor
Nedbank Corporate and Investment Banking

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