Trading Statement ADRENNA PROPERTY GROUP LIMITED (Registration Number 1998/012245/06) Share Code: ANA ISIN: ZAE000163580 “Adrenna” or “the Group” TRADING STATEMENT In terms of paragraph 3.4(b) of the JSE 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. Shareholders are advised that: - the Group’s headline earnings per share (“HEPS”) for the year ended 28 February 2018 are expected to be between 40% and 50% lower (7.86 and 6.55 cents per share) than the HEPS of 13.1 cents per share reported for the previous year ended 28 February 2017; - basic earnings per share (“EPS”) for the year ended 28 February 2018 are expected to be between 20% and 30% lower (30.16 and 26.39 cents per share) than the EPS of 37.7 cents per share reported for the previous year ended 28 February 2017; and - Net asset value and tangible net asset value per share is expected to be between 6% and 16% higher (278 and 304 cents per share) than the net asset value and tangible net asset value per share of 262 cents reported for the previous financial year ended 28 February 2017. The final announcement of the results for the year ended 28 February 2018 will be released on SENS on 29 May 2018 with a short-form announcement being published on the same day. This trading statement and the forecast financial information contained herein has not been reviewed and reported on by the Group’s external auditors. Johannesburg 22 May 2018 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 22/05/2018 11:26:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
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