YORK TIMBER HOLDINGS LIMITED - Trading statement and trading update

Trading statement and trading update

York Timber Holdings Limited
Incorporated in the Republic of South Africa)
(Registration number 1916/004890/06)
Share code: YRK
ISIN: ZAE000133450
(“York” or “the Company”)

TRADING STATEMENT AND TRADING UPDATE

York is in the process of finalising its results for the year
ended 30 June 2017 for release prior to 30 September 2017.

In terms of paragraph 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 to be reported upon next will differ by at least 20%
from the previous corresponding period.

Shareholders are advised that earnings per share (“EPS”) and
headline earnings per share (“HEPS”) are expected to increase
from 73.0 cents to between 113.2 cents and 116.8 cents, for
the year ended 30 June 2017. EPS and HEPS are expected to be
between 55% and 60% higher than the previous corresponding
period, driven by an increase in the biological asset
valuation.

Furthermore, Shareholders are advised that:

-   The biological asset valuation as at 30 June 2017 is
    expected to exceed that as at 30 June 2016, and is likely
    to be between 18% and 23% higher than the previous
    corresponding period of R2.3 billion. This increase in
    value includes a once-off adjustment as a result of an
    improvement achieved in the plantation rotation age. The
    higher plantation value reflects the benefits of precision
    forestry and improved genetic planting material, and is a
    fair reflection of current market value.

-   Core earnings per share (based on EPS attributable to
    ordinary shareholders less the fair value adjustment to
    the biological assets, net of tax) is likely to be between
    16.4 and 18.0 cents, being between 47% and 42% lower than
    the previous corresponding period of 31.0 cents, as a
    result of increases     in   taxation,   depreciation   and
    financing costs.

-   Earnings   before   interest,   taxation,   depreciation,
    amortisation and fair value adjustments is expected to be
    between 0% and 2% higher than the previous corresponding
    period of R242.8 million.

Shareholders are advised that the information included in
this announcement has not been reviewed or reported on by the
Company’s auditors and is the responsibility of the directors
of the Company.


Sabie, Mpumalanga
4 September 2017

Sponsor
One Capital

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