EQSTRA HOLDINGS LIMITED - Updated trading statement

Release Date: 08/09/2016 17:07
Code(s): EQS
Wrap Text
Updated trading statement

Eqstra Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/011672/06)
Share code: EQS, EQS05, EQS06, EQS07, EQS08A, EQS09
ISIN: ZAE000117123
("Eqstra" or "the group" or "the company")


Shareholders are referred to the announcement released on the Stock
Exchange News Service ("SENS") on 1 June 2016 in which Eqstra reported that
both headline earnings per share ("HEPS") and earnings per share ("EPS")
for the year ended 30 June 2016 ("the year") are expected to be at least
20% lower than the HEPS and EPS reported for the previous corresponding
reporting year (the year ended 30 June 2015). At that time it was not
possible to quantify anticipated HEPS or EPS with the degree of certainty
required to specify a 20% range.

Shareholders are now advised that the group anticipates for the year a
headline loss per share of between 28 and 31 cents per share (HEPS 2015:
78.7 cents), constituting a decrease of between 135.6% and 139.4%.

The group anticipates for the year a loss per share of between 574 and 578
cents per share (EPS 2015:61.3 cents), constituting a decrease of between
1036.4% and 1 042.9%.

The main reasons for the expected loss for the year are asset impairments
and an IFRS5 adjustment arising from the proposed corporate transaction
with the enX Group Limited.

Operationally the divisions continued to deliver solid performances in
continuing operations despite challenging economic conditions.

The financial information on which this trading statement is based has not
been reviewed and reported on by Eqstra’s external auditors. The statement
is based on financial information available at the time of publication.

Eqstra’s audited financial results for the year ended 30 June 2016 will be
released on SENS on or about 22 September 2016.

Kempton Park
08 September 2016

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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