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ROYAL BAFOKENG PLATINUM LIMITED - Trading statement for the six months ended 30 June 2015

Release Date: 13/07/2015 11:30
Code(s): RBP     PDF:  
Wrap Text
Trading statement for the six months ended 30 June 2015

ROYAL BAFOKENG PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2008/015696/06)
JSE share code: RBP ISIN: ZAE000149936
("RBPlat" or the "company")

Trading statement for the six months ended 30 June 2015

In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, a listed company is
required to publish a trading statement as soon as it is 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 those of the previous corresponding period and can with a reasonable degree of
certainty provide an estimated range with a maximum variance of 20%.

RBPlat is in the process of finalising its financial results for the six months ended 30 June 2015.
The company advises that it anticipates a loss per share ("LPS") and headline loss per share
("HLPS") for the six months ended 30 June 2015, to be between 52 cents and 69 cents
(between negative 144.8% and 159.5%), compared to an earnings per share (“EPS”) and
headline earnings per share (“HEPS”) of 116 cents for the previous corresponding period (the
six months ended 30 June 2014).

The expected decrease from an EPS and HEPS in 2014 to the LPS and HLPS in 2015 is
primarily attributable to the following:
- a lower realised revenue basket price;
- the impact of a once-off current and deferred tax charge related to the settlement of a
    taxation dispute with SARS relating to the tax assessments for the 2008, 2009 and 2010 tax
    years;
- reduced ounce production due to on-going and intermittent safety stoppages following the
    fatality during the first quarter resulting in a higher proportion of lower grade UG2 reef
    mining and reduced Merensky reef production;
- reduced concentrator plant availability and output due to recurrent stoppages related to the
    increased frequency of Eskom load curtailments together with more unscheduled
    maintenance and repairs; and
- cost increases primarily attributable to the front-end loaded nature of wage increases in
    terms of the 5-year wage agreement combined with above inflationary utility cost increases.

Normalised EPS for the six months ended 30 June 2015, after adjusting for an additional after
tax effect of amortisation and depreciation charge related to a fair value adjustment as well as
the once-off tax charge related to the settlement of a taxation dispute with SARS regarding the
2008, 2009 and 2010 tax years, are anticipated to be between 4 cents and 21 cents (between
97.0% and 84.2% lower) compared to Normalised EPS of 133 cents for the previous
corresponding period.

The information set out in this announcement has not yet been reviewed and reported on by the
company's external auditors.

RBPlat expects to release its interim results on or about 4 August 2015.
Johannesburg
13 July 2015

JSE Sponsor:
Merrill Lynch South Africa Proprietary Limited

For further information, please contact:

Lindiwe Montshiwagae
Investor Relations Manager
Tel: +27 (0)10 590 4517
Mobile: +27 (0)82 920 7803

Date: 13/07/2015 11:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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