BOWLER METCALF LIMITED - Trading Statement

Trading Statement

BOWLER METCALF LIMITED
(Registration number 1972/005921/06)
Share code: BCF ISIN number: ZAE000030797
(“Bowler Metcalf” or “the Company”)

TRADING STATEMENT

In terms of rule 3.4(b) of the Listings Requirements of the JSE Limited, a listed company is required
to publish a trading statement as soon as a reasonable degree of certainty exists that the financial
results for the next reporting period to be reported on will differ by at least 20% from those of the
previous corresponding period.

Shareholders are advised that, as a result of an impairment to the Company’s associate
investment in SoftBev Proprietary Limited (with the fair value of the investment currently assessed to
be at the same level which led to the impairment as previously notified to shareholders in the
trading statement dated 7 March 2017), the Company’s earnings/(loss) per share, for the twelve
months ended 30 June 2017 is expected to be between earnings of 6,6 cents per share and a loss
of 9,3 cents per share, being between -91,7% and -111,7% lower compared to earnings per share
of 79,2 cents for the twelve months ended 30 June 2016.

The Company’s headline earnings per share for the twelve months ended 30 June 2017 is
expected to be between 82,8 cents and 65,1 cents, being between -6,7% and -26,7% lower
compared to headline earnings per share of 88,7 cents for the twelve months ended 30 June
2016.

The information on which this announcement has been based has not been reviewed or reported
on by the group’s auditors.

Cape Town
28 August 2017

Sponsor
Arbor Capital Sponsors Proprietary Limited

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