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Adoption of net asset value per share as key performance measure for trading statement purposes
SANDOWN CAPITAL LIMITED
(Incorporated in South Africa)
(Registration number 2000/013674/06)
Share code: SDC
ISIN: ZAE000249645
(“Sandown Capital” or “the Company”)
ADOPTION OF NET ASSET VALUE PER SHARE AS KEY PERFORMANCE MEASURE FOR TRADING STATEMENT PURPOSES
In terms of the JSE Listings Requirements, entities are required to publish a trading statement as soon as they
are satisfied that a reasonable degree of certainty exists that the financial results for the period to be
reported on next will differ by at least 20% from the most recent financial results for the previous corresponding
period.
Given the nature of Sandown Capital’s business as an investment holding company focused on generating long-
term growth in net asset value (“NAV”) per share (as further disclosed in the company’s pre-listing statement
published on 14 November 2017), Sandown Capital does not consider earnings-based financial metrics to be a
suitable measure of the Company’s performance for determining whether or not a trading statement is required.
Consequently, as it is considered a more relevant performance measure than earnings per share and headline
earnings per share, the Company has elected to adopt the NAV per share measure for trading statement
purposes.
13 March 2018
Sponsor
Java Capital
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