AFRICAN AND OVERSEAS ENTERPRISES LD - Trading statement

Trading statement

AFRICAN & OVERSEAS ENTERPRISES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/027461/06)
JSE share code: AOO   ISIN: ZAE000000485
JSE share code: AON   ISIN: ZAE000009718
JSE share code: AOVP  ISIN: ZAE000000493
(“AOE”)


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 current reporting period
will differ by at least 20% from the financial results for the previous corresponding period.

In its commentary to the reviewed condensed consolidated preliminary financial results for the year ended 30 June 2016
(published on SENS on the 8 September 2016) AOE noted that its subsidiary, Rex Trueform Clothing Company
Limited, had reported that, in relation to its retail segment prospects, the tough economic trading conditions and
regulatory changes to credit legislation will, amongst other things, continue to impact its business in the short-term.

The economic trading conditions continue to be tough and, accordingly, shareholders are advised that:

1.    AOE’s earnings per share are expected to decrease by at least 20%, from earnings of 57.8 cents per share reported
      by AOE for the six months ended 31 December 2015 to earnings of 46.2 cents per share for the six months ended
      31 December 2016; and

2.    AOE’s headline earnings per share are expected to decrease by at least 20%, from headline earnings of 57.8 cents
      per share reported by AOE for the six months ended 31 December 2015 to headline earnings of 46.2 cents per
      share for the six months ended 31 December 2016.

Shareholders are further advised that AOE does not have reasonable certainty to provide guidance as to either the
specific percentage and numbers, or the range and numbers, to describe the difference in the financial results in such
periods. Once AOE obtains reasonable certainty in this regard it will issue a further trading statement.

The information on which this trading statement has been based has not been reviewed or reported on by AOE’s
auditors.

17 November 2016


Sponsor
Java Capital

Date: 17/11/2016 10:13:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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