SILVERBRIDGE HOLDINGS LIMITED - Trading Statement

Release Date: 28/08/2017 09:30
Code(s): SVB
 
Wrap Text
Trading Statement

SILVERBRIDGE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1995/006315/06)
Share code: SVB     ISIN: ZAE000086229
(“SilverBridge”)

TRADING STATEMENT

In terms of paragraph 3.4 (b) of the Listings Requirements
of the JSE Limited, companies are required to publish a
trading statement as soon as they are satisfied that there
is a reasonable degree of certainty that the financial
results for the next reporting period will differ by more
than 20% from those of the previous corresponding period.

Accordingly, a review of the financial results for the year
ended 30 June 2017 by management has indicated that the
earnings and headline earnings per share are expected to be
between 41.1 cents and 42.1 cents, compared to the earnings
and headline earnings per share of 29.1 cents, being between
41% and 45% higher than the year ended 30 June 2016.

The following once-off, non-cash flow items impacted
positively on the current year’s results:

1. The decreased number of shares used in the earnings per
   share and headline earnings per share calculation, due
   to the increase in the number of treasury shares after
   the share purchase by the Silverbridge Employee Share
   Trust. These shares will vest in employees and not be
   seen as treasury share anymore as they pay back the
   respective loan amounts related to the shares purchased
   and as outstanding share options vest.

2. The recognition by SilverBridge of a deferred tax asset
   resulted from an incurred assessed tax loss that was
   carried forward from prior periods.

The following once-off, non-cash flow items impacted
negatively on the current year’s results:

1. The increase in the office rental expense due to the
   smoothing of the expense over the newly entered five-
   year lease period as required in terms of IAS 17 Leases.
2. The increase in IFRS 2 share base payment charges
   resulting from the acquisition of shares by employees in
   terms of the share ownership scheme as well as
   calculations related to the share option scheme.

If the effect of all of the above are excluded, the headline
earnings are expected to be between 9% and 12% higher than
the reported headline earnings, for the year ended 30 June
2016.

The financial information on which this trading statement is
based has not been reviewed or reported on by SilverBridge’s
auditors. SilverBridge’s financial results are expected to
be released on SENS on or about 18 September 2017.


Pretoria
28 August 2017

Designated Advisor: PSG Capital Proprietary Limited

Date: 28/08/2017 09:30:00 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.

Email this JSE Sens Item to a Friend.

Share This Story