SPANJAARD LIMITED - Trading Statement

Trading Statement

SPANJAARD LIMITED
(Registration Number 1960/004393/06)
Share code: SPA ISIN: ZAE000006938
("the Company")

TRADING STATEMENT

Shareholders are advised that it is reasonably certain that, for the financial
year ended 28 February 2017, as compared to the financial information
released for the financial year ended 29 February 2016:

-   headline earnings per share are expected to be between 8.06 and
    4.34 cents per share, being between 87% and 93% lower than the
    headline earnings per share of 62.10 cents reported for the financial year
    ended 29 February 2016, and

-   earnings per share are expected to be between 6.95 cents per share and
    3.26 cents per share, being between 89% and 95% lower than the
    earnings per share of 61,5 cents reported for the financial year ended
    29 February 2016.

Shareholders are advised that the Company is in the process of finalising its
results for the period concerned. It is expected that these results will be
released on SENS on or about 31 May 2017.

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


By order of the board.

Johannesburg
18 May 2017


Sponsor
Arbor Capital Sponsors Proprietary Limited

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