CALGRO M3 HOLDINGS LIMITED - Further trading update

Further trading update

CALGRO M3 HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2004/030045/06)
Share code: CGR ISIN: ZAE000109203
(“Calgro M3” or “the company”)



                                   FURTHER 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 6 months ended 31 August 2014 is expected to be between 46.96 cents per share and 54.97
cents per share compared to HEPS of 40.16 cents per share reported in the previous corresponding
period. This equates to an increase of between 16.93% and 36.88%, respectively.

Earnings per share (“EPS”) for the 6 months ended 31 August 2014 are expected to be between 51.88
cents per share and 59.92 cents per share compared to 40.16 cents per share as reported in the
previous corresponding period. This equates to an increase of between 29.18% and 49.18%,
respectively.

The difference in HEPS and EPS is due to a fair value adjustment as a result of the buyout of our 24%
joint venture partners (International Housing Solutions) in the Summerset project (Clidet
(Proprietary) Limited).

The company did not undertake any further corporate action during the current 6 months ended 31
August 2014.


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

Johannesburg
26 September 2014

Sponsor
Grindrod Bank Limited

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