4SIGHT HOLDINGS LIMITED - Initial Trading Statement

Release Date: 22/03/2019 08:09
Code(s): 4SI
 
Wrap Text
Initial Trading Statement

4SIGHT HOLDINGS LIMITED
(Incorporated in the Republic of Mauritius)
(Registration number: C148335 C1/GBL)
(“4Sight” or “the Company”)
ISIN Code: MU0557S00001       JSE Code: 4SI

INITIAL TRADING STATEMENT

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 will differ by at least 20% from the financial results for the previous
corresponding period or a profit forecast previously provided to the market in relation to such period.

Shareholders are advised that the Company published a profit forecast in its prospectus dated
21 September 2017 for the year ending 31 December 2018. Following the conclusion of certain
acquisitions that were planned post the listing of 4Sight, the company voluntarily published a revised
profit forecast on 7 March 2018. Accordingly, the Company is publishing an initial trading statement
compared to the revised profit forecast. In addition, the Company was required to publish results for
the six months ended 31 December 2017 (which period was from date of incorporation of 4Sight as
a holding company to its first period end).

Shareholders are reminded that the Company is a Mauritian company and reports in US Dollars.

Shareholders are accordingly advised of the following:

Comparison against prior period:
-     The earnings and headline earnings per share for the prior year ended 31 December 2017
      was USD 0.51 cents per share and USD 0.50 cents per share respectively, based on
      360 695 468 shares in issue.
-     The headline earnings per share for the year ended 31 December 2018 is expected to be at
      least 100% higher than the USD 0.50 cents per share for the prior comparative period based
      on 486 807 063 weighted average shares in issue.
-     The earnings per share for the year ended 31 December 2018 is expected to be at least 100%
      lower than the USD 0.51 cents per share for the prior comparative period based on
      486 807 063 weighted average shares in issue. This is mainly due to once off impairments,
      including the impairment of goodwill on one of the acquisitions which has not met its profit
      warranty for the year ended 31 December 2018, with the remainder of the acquisitions
      achieving their profit warranties.

Comparison against the revised profit forecast:
-     The forecast earnings per share and headline earnings per share for the year ending
      31 December 2018 as detailed in the revised profit forecast was USD 0.67 cents per share
      based on 455 048 276 weighted average shares in issue;
-     The headline earnings per share for the year ended 31 December 2018 is expected to be at
      least 70% higher than the revised profit forecast based on 486 807 063 weighted average
      shares in issue.
-     The earnings per share for the year ended 31 December 2018 is expected to be at least 100%
      lower than the revised profit forecast based on 486 807 063 weighted average shares in issue
      for the reasons mentioned above.
A further trading statement will be issued in due course.

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

Mauritius
22 March 2019

Designated Advisor
Arbor Capital Sponsors Proprietary Limited

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