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Release Date: 16/03/2018 13:45
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Trading Statement

(Incorporated in the Republic of South Africa)
(Registration number: 1950/037061/06)
JSE share code: AND ISIN: ZAE000172870
(“Andulela” or “the company”)


In terms of the JSE Listings Requirements, 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 financial results for the previous corresponding

Accordingly, shareholders are advised that Andulela expects that its headline loss for the year ended
31 December 2017 will be between 8.70 and 10.45 cents per share, compared to its headline loss of 4.02
cents per share for the year ended 31 December 2016.

The loss per share for the year ended 31 December 2017 will be between 290 and 300 cents per share as a
result of the impairment of goodwill of R300 million during the current year, compared to the loss and
diluted loss of 63.12 cents per share for the year ended 31 December 2016.

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

The financial results for the year ended 31 December 2017 are expected to be released on or about 29 March

16 March 2018
Sponsor: Bridge Capital Advisors Proprietary Limited

Date: 16/03/2018 01:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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