To view the PDF file, sign up for a MySharenet subscription.

IMBALIE BEAUTY LIMITED - Trading update, proposed recapitalisation and cautionary announcement

Release Date: 31/05/2018 08:31
Code(s): ILE     PDF:  
Wrap Text
Trading update, proposed recapitalisation and cautionary announcement

IMBALIE BEAUTY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/025374/06)
JSE Share code: ILE ISIN: ZAE000165239
("Imbalie Beauty” or “the Company” or “Group”)

Trading update, proposed recapitalisation and cautionary announcement

1.        Trading update

In terms of paragraph 3.4 (b) of the JSE Limited Listings Requirements, companies are required
to publish a trading statement as soon as a reasonable degree of certainy exists that the financial
results for the period to be reported on will differ by more than 20% from the previous
corresponding period.

Shareholders are advised that Imbalie Beauty is in the process of finalising its results for the year
ended 28 February 2018. It is anticipated, with a reasonable degree of certainty, that the
anticipated basic and headline loss per share will be as follows:

-     Basic loss per share is expected to be in excess of 4 cents per share (28 February 2017:
      2.5 cents per share), being an increase in loss of more than 60%;
-     Headline loss per share is expected to be more than 2.5 cents (28 February 2017: 2.5
      cents), being worse than the loss in the comparable period.

The Company’s financial results for the year ended 28 February 2018 are expected to be
released only after the Group has resolved the liquidity and capitalisation issues referred to
below.

The financial information on which this trading statement is based has not been reviewed by
Imbalie Beauty’s auditors.

2.        Discussion with major shareholders

Shareholders are advised that following these losses and further losses since 28 February 2018,
the Company is experiencing liquidity issues.

Shareholders are advised that the Company has entered into discussions with its major
shareholders regarding the future direction of the Company and the possible recapitalisation of
the Group. Shareholders will be updated regarding the outcome of these discussions.

3.        Cautionary announcement

Shareholders are advised that the outcome of the above discussions with major shareholders
may have an effect on the price of the Company’s securities. Accordingly, shareholders are
advised to exercise caution when dealing in the Company’s securities until a full announcement is
made.


31 May 2018
Woodmead

Designated Advisor
Exchange Sponsors

Date: 31/05/2018 08:31:00 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.

Share This Story