DENEB INVESTMENTS LIMITED - Trading statement

Trading statement

DENEB INVESTMENTS LIMITED
Registration number: 2013/091290/06
(Incorporated in the Republic of South Africa)
JSE share code: DNB   ISIN: ZAE000197398
(“Deneb” or the “Company”)

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 period to be reported upon next will differ by at least 20% from the
financial results for the previous corresponding period.

Deneb advises that for the year ended 31 March 2016, the Company expects its financial results to
fall within the following ranges:


                                           2016            % decrease         2015

                                           Cents                              Cents

Earnings per share                         9.2 – 11.1      70.9% - 75.9%      38.14

Headline earnings per share                7.3 – 8.9       67.7% - 73.5%      27.55


The decline in earnings is largely attributable to taxation. Included in the prior year’s results
was the recognition of a deferred tax asset, recognizing historical assessed losses. This resulted
in a once-off deferred tax income that equated to 21.1 cents per share. Having recognised the
deferred taxation asset in the prior period, the current periods’ results include a taxation
charge releasing a portion of the deferred taxation asset.

The financial information on which this trading statement is based has not been reviewed or
reported on by the Company`s auditors. Shareholders are further advised that the results for the
year ended 31 March 2016 are scheduled to be released by end of May 2016.

Cape Town
11 May 2016

Sponsor
PSG Capital

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