MUSTEK LIMITED - Updated trading statement

Updated trading statement

   MUSTEK LIMITED
   (Incorporated in the Republic of South Africa)
   (Registration number 1987/070161/06)
   Share code: MST
   ISIN: ZAE000012373
   (“Mustek” or “the company”)

UPDATED TRADING STATEMENT
Shareholders are referred to the trading statement published on SENS on 19 August 2016 where it
was announced that for the year ended 30 June 2016, Mustek’s headline earnings per share and
basic earnings per share are expected to be at least 20% lower than the headline earnings per share
of 125,05 cents and the basic earnings per share of 124,94 cents reported in the previous
corresponding period.

The company now has reasonable certainty to provide the range required in terms of Paragraph
3.4(b)(iii)(2) of the JSE Limited’s Listings Requirements.

In light of the above, Mustek’s shareholders are informed that, for the year ended 30 June 2016,
Mustek’s headline earnings per share is expected to be between 33% and 43% lower than the
previous financial year at between 71,28 cents and 83,78 cents (2015: 125,05 cents). Earnings per
share is expected to be between 35% and 45% lower than the previous financial year at between
68,72 cents and 81,21 cents (2015: 124,94 cents).

Net asset value per share is expected to be between 4,5% and 6,0% higher than the previous
financial year at between 1 002,16 cents and 1 016,54 cents (2015: 959,00 cents).

The previous financial year (30 June 2015) included a once-off after tax income of R19,3 million that
arose from certain disputes that were settled between Mustek and various parties.

The Group has been negatively affected by an increase in net finance charges after average working
capital levels were well above that of the previous corresponding period. Working capital levels have
since normalised and for the year ended 30 June 2016, both inventory and accounts receivable are at
lower levels when compared to the previous financial year.

The improvement in working capital levels contributed to cash generated from operations of between
R170,0 million and R180,0 million and is an improvement of between R588,7 million and R598,7
million compared to the cash used in operations of R418,7 million reported at 31 December 2015.

The above information has not been reviewed or reported on by the company’s auditors. The
company’s financial results for the year ended 30 June 2016 are expected to be published on or
about 31 August 2016.


Midrand
25 August 2016


                                               Sponsor
                     Deloitte & Touche Sponsor Services (Proprietary) Limited
                            (Incorporated in the Republic of South Africa)
                                (Registration number 1996/000034/07)

Date: 25/08/2016 04:54:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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