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NUTRITIONAL HOLDINGS LIMITED - Trading Statement

Release Date: 15/09/2017 13:15
Code(s): NUT     PDF:  
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Trading Statement

Nutritional Holdings
(Registration number 2004/002282/06)
(Incorporated in the Republic of South Africa)
Share Code: NUT   ISIN: ZAE000156485
(“Nutritional Holdings” or “the Company”)

TRADING STATEMENT

In terms of the Listing Requirements of the JSE Limited,
a listed company is required to inform shareholders as
soon as there is a reasonable degree of certainty that
the earnings of the company are likely to vary by more
than 20% compared to the previous reporting period.

Shareholders are hereby advised that the basic earnings
per share and headline earnings per share attributable to
ordinary shareholders for the six months ended 31 August
2017 are expected to differ by more than 20%, as compared
to those reported for the previous corresponding period.

The Board of Directors (“the Board”) of the Company
considers it pertinent to bring to the attention of
shareholders that the Company has continued to generate
losses in the current period which has had a further
negative impact on the cash resources available to the
Company.

Accordingly, shareholders are advised that the Board is
busy with discussions relating to all options available
to re-capitalize the Company and will revert to
Shareholders in due course, once progress made.

Shareholders are referred to the SENS announcements
released on the 30 August 2016 and 7 November 2016,
wherein Shareholders were advised of the Board’s decision
to diversify the Company’s exposure to include
investments outside the food manufacturing sector to that
of industrial, manufacturing and renewable energy, which
to date have not been successful.

It should be noted that the executive directors have
agreed to forgo their monthly salaries for a further
period of 3 months in an effort to reduce the monthly
cash flow pressure of the Company whilst the Board
pursues the re-capitalisation of the Company as well as
the finalization of it’s discussions on the possible
reversal of the proposed renewable energy assets into the
Company.

The information in this trading statement has neither
been reviewed nor reported on by the Company’s external
auditors.

Durban
15 September 2017

Designated adviser: PSG Capital Proprietary Limited

Date: 15/09/2017 01:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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