Sharenet Sites 
Sharenet Sites
Further Trading Statement
AFRICAN PHOENIX INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1946/021193/06)
Ordinary share code: AXL ISIN: ZAE000221370
Hybrid instrument code: AXLP ISIN: ZAE000221388
(“Phoenix” or “the Company”)
FURTHER TRADING STATEMENT
Further to the trading statement released on SENS on 31 January 2017 (“Initial Trading Statement”), a
review by management of the financial results for the six months ended 31 March 2017 has indicated
that the earnings per share (“EPS”) and headline earnings per share (“HEPS”) are expected to be
between 2.95 cents and 4.43 cents, reflecting a decrease of between 85% and 90% compared to the
EPS and HEPS of 29.5 cents for the six months ended 31 March 2016.
Further information
The improvement in expected EPS and HEPS since the Initial Trading Statement was driven by better
than anticipated sales volumes achieved by The Standard General Insurance Company Limited
(Stangen) which resulted in a greater than anticipated release of the Special Actuarial Reserve.
The financial information on which this trading statement is based has not been reviewed or reported on
by Phoenix’s auditors. Phoenix's financial results are expected to be released on SENS on or about 23
June 2017.
Johannesburg
14 June 2017
Sponsor
Merchantec Capital
Date: 14/06/2017 05:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
