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SOUTH OCEAN HOLDINGS LIMITED - Trading Statement

Release Date: 08/08/2017 16:45
Code(s): SOH     PDF:  
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Trading Statement

South Ocean Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/002381/06)
Share code: SOH
ISIN: ZAE000092748



Trading Statement

South Ocean Holdings’ headline loss per share for the 6 months ended 30th June 2017 is expected to be
between 5.3 cents and 6.5 cents higher than the headline loss per share for the corresponding prior
period. The loss per share is expected to be between 13.8 cents and 16.8 cents higher compared to the
loss per share for the corresponding prior period.

To comply with IAS 36, the Group performed an impairment test of its assets in subsidiaries, as a result a
net impairment charge of R14.5 million was recognized in the Statement of Comprehensive Income
which contributed to an increase in the loss per share. The impairment was due to the value in use of
the subsidiaries being lower than the subsidiaries’ enterprise value.


As reported in the corresponding prior period, headline loss per share was 4.3 cents and loss per share
was 4.2 cents.

The financial information on which this trading statement is based has not been reviewed or reported
on by South Ocean Holdings’ external auditors. The audited results for the 6 months ended 30th June
2017 are expected to be published on or about the 14th of August 2017.



By order of the Board



8 August 2017
Alrode

Sponsor
Investec Bank Limited

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