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Trading statement
Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
Share code: REM
(“Remgro” or “the Company”)
TRADING STATEMENT
Paragraph 3.4 (b) of the Listings Requirements of the JSE Limited (“JSE Listings Requirements”)
requires companies to publish a trading statement as soon as they become reasonably certain that
their financial results for the period to be reported upon next will differ by at least 20% from those
of the previous corresponding period.
Remgro’s results for the six months ended 31 December 2016 are due to be released on the Stock
Exchange News Service on or about 16 March 2017. In compliance with the JSE Listings
Requirements, Remgro shareholders are advised that Remgro’s reported headline earnings per share
(“HEPS”) for the six months ended 31 December 2016 is expected to be between 852.3 cents
(+21%) and 887.5 cents (+26%) compared to the HEPS of 704.4 cents reported for the six months
ended 31 December 2015.
The increase in HEPS is mainly due to a positive fair value adjustment of R667 million, relating to
the decrease in value of the bondholders’ exchange option (accounted for as a derivative liability) of
the bonds that were issued during March 2016 to partially refinance the foreign bridge funding that
was raised for the Al Noor Hospitals Group plc transaction. The bonds are exchangeable into
Mediclinic International plc (Mediclinic plc) shares and/or cash and fair value adjustments on the
option (reflecting inter alia the movement in the underlying Mediclinic plc share price) are
expected to cause volatility in headline earnings during its five-year term.
The financial information on which this trading statement is based has not been reviewed and
reported on by the Company’s external auditors.
Stellenbosch
7 March 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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