Sharenet Sites 
Sharenet Sites
Trading Update
CALGRO M3 HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2005/027663/06)
Share code: CGR ISIN: ZAE000109203
(“Calgro M3” or “the Company”)
TRADING UPDATE
In accordance with paragraph 3.4 of the Listings Requirements of the JSE Limited, a listed company is
required to publish a trading statement as soon as it becomes aware, with a reasonable degree of
certainty, that the financial results for the next period to be reported on are likely to vary by more
than 20% from the previous corresponding period.
Calgro M3 wishes to advise shareholders that the Company’s headline earnings per share (“HEPS”)
for the six months ending 31 August 2018, is expected to be 3.11 cents per share compared to 47.71
cents per share reported in the previous corresponding period. This equates to a decrease of 93.48%.
Earnings per share (“EPS”) for the six months ending 31 August 2018, is expected to be 23.78 cents
per share compared to 47.71 cents per share as reported in the previous corresponding period. This
equates to a decrease of 50.16%.
The period under review was one of the most difficult ever experienced due to:
1) Macro and micro economic uncertainty coupled with uncertainty pertaining to land expropriation;
2) Scottsdene and Fleurhof projects being shut down as a result of “illegal occupation” with
additional security and repair cost, which was slightly offset by a variation order received on
Fleurhof;
3) Major electrification challenges on Fleurhof which resulted in standing time cost;
4) Impact of the adoption of IFRS 15;
5) Drought in the Western Cape; and
6) Cancellation of the Executive share scheme and corresponding fast-tracked expense.
Furthermore, this had a negative impact on our operational cash flow, leading to the deliberate
slowdown in levels of activity on other sites.
Despite these uncertainties and challenges, management has worked tirelessly to ensure that the
Company has:
- A healthy Balance Sheet;
- 10 projects in the ground at various phases to mitigate risk; and
- Expanded its Memorial Parks business
An analysis on the impact of all extraordinary items (including the impact of the adoption of IFRS 15)
during the period will be detailed in the interim results announcement.
The Company did not undertake any corporate action during the current six months when compared
to the prior period.
The financial information on which this trading statement is based has not been reviewed or
reported on by the Company’s auditors.
Johannesburg
18 October 2018
Sponsor
Grindrod Bank Limited
Date: 18/10/2018 10:50:00 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.
