DELTA EMD LIMITED - Trading Update And Trading Statement For The Interim Period Ending 27 December 2018

Trading Update And Trading Statement For The Interim Period Ending 27 December 2018

Delta EMD Limited
(Incorporated in the Republic of South Africa)
Registration number 1919/006020/06
ISIN: ZAE000132817
Share code: DTA
(“Delta EMD” or “the Company”)


TRADING UPDATE AND TRADING STATEMENT FOR THE INTERIM PERIOD ENDING 27
DECEMBER 2018.


Trading update


Shareholders are referred to the SENS announcement issued on 27
December 2018 wherein the company announced the extension of its
financial year-end to 27 March 2019.

During the last quarter of 2018 Delta EMD successfully completed the
sale of 2,129,101 ordinary par value shares of R1 each in EMD
Investments (Pty) Ltd (constituting the entire issued share capital of
EMD Investments) to Viridi Developments (Pty) Ltd, which in turn
resulted in the indirect disposal of the Nelspruit Plant Site held by
Delta EMD South Africa (Pty) Ltd (a wholly owned subsidiary of EMD
Investments (Pty) Ltd).

The only asset remaining in the Company as at 27 December 2018 is the
cash balance.


Trading Statement

Paragraph 3.4 (b) of the Listings Requirements of the JSE Limited
requires companies to publish a trading statement in the event that
they are satisfied with a reasonable degree of certainty that the
earnings per share and headline earnings per share for the period to
be reported on next will differ from the previous corresponding
reporting period by at least 20%.

Delta EMD is currently finalising its results for the twelve month
period ended 27 December 2018 (“the period”). Shareholders are advised
that Delta EMD’s loss per share for the period is expected to be between
35 cents and 41 cents, representing a reduction from the previous
corresponding reporting period’s profit per share of 6.8 cents.

Delta EMD also expects headline earnings per share for the period to
be between 0.1 cents and 0.4 cents, representing a reduction of between
94% and 99% from the previous corresponding reporting period (2017:
6.8 cents).

The main contributors to the loss per share were the impairment on the
fixed assets held for sale, principally the Nelspruit Plant Site, and
the loss on sale of EMD Investments (Pty)Ltd.

Delta EMD’s interim report for the period is expected to be released
on SENS before the end of March 2019.

The forecast financial information on which this trading statement is
based has not been reviewed nor reported on by the Company’s external
auditors.


25 February 2019
Nelspruit

Sponsor
Deloitte & Touche Sponsor Services Proprietary Limited

Date: 25/02/2019 03:49:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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