BELL EQUIPMENT LIMITED - Trading statement

Trading statement

BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1968/013656/06
ISIN: ZAE000028304
Share Code: BEL
(“the Company”)

TRADING STATEMENT

In terms of the JSE Limited Listing Requirements (“Listings
Requirements”), companies are obliged 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 reporting
period.

Shareholders are accordingly advised that the Company’s earnings
per share (“EPS”) and headline earnings per share (“HEPS”) are
expected to be at least 20% lower (21 cents lower) for the half
year ended 30 June 2016 when compared to the EPS and HEPS of 106
cents and 101 cents, respectively, for the half year ended 30
June 2015. A further trading statement for the half year ended
30 June 2016 will be released on SENS once the Company has
reasonable certainty regarding the extent of the expected
decrease in its results for the half year ended 30 June 2016.

The expected decrease in earnings is due to a fraud in the
Company’s subsidiary in the Democratic Republic of Congo and the
related   deterioration  in   the  financial   results  of  that
operation. An independent forensic investigation is still in
progress and a number of employees, including the entire
management team in the DRC operation, have been dismissed.

The financial information on which this trading statement is
based has not been reviewed and reported on by the Company’s
external auditors.

The results for the half year ended 30 June 2016 are expected to
be announced on SENS on or about 26 September 2016.

Richards Bay
18 August 2016
Sponsor: RAND MERCHANT BANK (A division of FirstRand Limited)





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