BASIL READ HOLDINGS LIMITED - Trading Statement

Trading Statement

Basil Read Holdings Limited
(Incorporated in the Republic of South Africa)
Registration Number 1984/007758/06
Share Code: BSR ISIN: ZAE000029781
("Basil Read" or "the Company")


TRADING STATEMENT

In terms of the Listings Requirements of JSE Limited, companies are
required to publish a trading statement as soon as they become reasonably
certain that the financial results for the period to be reported on will
differ by more than 20% from that of the previous corresponding period.

The company is finalising its results for the year ended 31 December 2016
and is required, in terms of paragraph 3.4(b) of the Listings Requirements
of JSE Limited (“JSE”), to provide the guidance as set out therein.

Basil Read expects a loss per share for the year ended 31 December 2016, of
between 84 and 103 cents (and a loss per share from continuing operations
of between 39 and 48 cents) compared to the earnings per share of 137.27
cents for the previously reported corresponding period.

Shareholders are advised that Basil Read expects its headline loss per
share for the year ended 31 December 2016, to be between 80 and 98 cents
(and headline loss per share from continuing operations of between 35 and
42 cents), compared to the headline earnings per share of 143.87 cents for
the previously reported corresponding period.

The financial information on which this trading statement is based has not
been audited nor reviewed by the external auditors.

Shareholders are advised that the operating profit from continuing
operations was negatively affected by the losses incurred on the Olifant’s
River water resource development project for the Trans Caledon Tunnel
Authority (“TCTA”) of R100 million, where the full loss is a subject of a
claims process;

Further the profit before tax was affected by the following material and
/or non-recurring items:

  - A present value charge of R41 million (R120 million payable over 12
    years) for the expense pertaining to the settlement agreement (the
    “Settlement”) concluded on 11 October 2016 with the South African
    government;
  - A non-recurring loss of R32 million on the discontinued operations of
    the Pipeline business which now forms part of the Civils sub-division
    within Construction;
  - A non-recurring loss of R34 million on the disposal of SprayPave (Pty)
    Ltd concluded on 1 February 2016.

Date of results and presentation

Basil Read will publish its reviewed results for the year ended 31 December
2016, on Friday, 10 March 2017 on the Stock Exchange News Service (“SENS”)
of the JSE. An investor presentation will be hosted in Johannesburg only at
10:00 (SA time) on the same day. The company will provide the following
investor services on Friday 10 March 2017, at 10:00 (SA time):

1. Live Call Access
PARTICIPANT TELEPHONE NUMBERS (Assisted)
Johannesburg (Telkom)    010 201 6800
South Africa (Toll Free) 0 800 200 648
Johannesburg (Neotel)    011 535 3600
USA and Canada (Toll Free)    1 855 481 5362
UK (Toll Free) 0 808 162 4061
Other Countries (Neotel) +27 11 535 3600
Other Countries (Telkom) +27 10 201 6800
Please instruct Participants to ask to be joined into the Basil Read call.

CONFERENCE REPLAY
South Africa: 011 305 2030
UK Toll Free: 0 808 234 6771
Australia Toll Free:      1 800 091 250
USA and Canada Toll Free:      1 855 481 5363
International Toll: +27 11 305 2030
Replay Access Code: 11094
End Date: Mar 16, 2017
Available 1 hour after the end of the conference.
Participants will be required to state their name and company upon entering
the call.

3. Live Webcast
A live webcast will also be available on www.basilread.co.za.

All   related  documents   will    be   made   available   for   download   from
www.basilread.co.za.



Johannesburg
28 February 2017

Company Secretary
Andiswa T Ndoni

JSE Sponsor
Grindrod Bank Limited

Date: 28/02/2017 03:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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