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MIDDLE EAST DIAMOND RESOURCES LIMITED - Trading statement

Release Date: 01/12/2020 09:45
Code(s): MED     PDF:  
Wrap Text
Trading statement

MIDDLE EAST DIAMOND RESOURCES LIMITED
(Incorporated in the Republic of South Africa) (Registration
number: 2001/006539/06)
(Share Code: MED ISIN Code: ZAE000211876)
(“MEDR” or “the company”)



TRADING STATEMENT 2020-2017 AND RESTATEMENT OF 29 FEBRUARY 2016 AUDITED RESULTS



MEDR has been suspended since 2016 and has not released certain required financial information to
shareholders.

Shareholders are referred to the SENS announcement released on 1 December 2020 regarding the re-
statement of the 29 February 2016 audited results.

Shareholders are advised that the company is in the process of finalising its results for the years ended 29
February 2020, 28 February 2019, 28 February 2018 and 28 February 2017.

In terms of section 3.4(b) of the Listings Requirements of the JSE Limited, companies 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 will differ by at least 20% from the financial
results for the previous corresponding period.

The table below illustrates the ranges anticipated for the audited results for the years ended 2016 – 2020:


                                                            % Increase /                       % Increase /
                         28 Feb 2016
                                          28 Feb 2017      (decrease) as     28 Feb 2018      (decrease) as
                            (restated
                                               (cents)      compared to           (cents)      compared to
                               cents)
                                                             29 Feb 2016                        28 Feb 2017
 Earnings per
                                 0.13      (1.8) - (1.9)         (100%)       (0.6) - (0.7)          100%
 share
 -Continued
                                (0.93)     (1.8) - (1.9)          (100%)      (0.6) - (0.7)          100%
 operations
 -Discontinued
                                 1.06                  -         (100%)                   -               -
 operations
 Headline Loss
                                (6.07)     (1.5) - (1.6)           100%       (0.6) - (0.7)          100%
 per share
 -Continued
                                (3.76)     (1.5) - (1.6)           100%       (0.6) - (0.7)          100%
 operations
 -Discontinued
                                (2.31)                 -           100%                   -               -
 operations
                                                           % Increase /                      % Increase /
                                         28 Feb 2019      (decrease) as    29 Feb 2020      (decrease) as
                                              (cents)     compared to           (cents)      compared to
                                                           28 Feb 2018                        28 Feb 2019

 Loss per share                         (0.40) - (0.60)     14%- 33%      (0.50) - (0.70)   (17% - 25%)
 - Continued operations                 (0.40) - (0.60)     14%- 33%      (0.50) - (0.70)   (17% - 25%)

 - Discontinued operations                            -              -                  -              -

 Headline Loss per share                (0.40) - (0.60)     14%- 33%      (0.50) - (0.70)    (17%- 25%)
 - Continued operations                 (0.40) - (0.60)     14%- 33%      (0.50) - (0.70)   (17% - 25%)
 - Discontinued operations                            -              -                  -              -


The financial information on which this trading statement is based has not been reviewed or reported on
by the company`s auditors.


The results are expected to be released in early December 2020.


1 December 2020
Johannesburg


Sponsor
Exchange Sponsors

Date: 01-12-2020 09:45:00
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