AFRICAN DAWN CAPITAL LIMITED - Trading Statement

Trading Statement

AFRICAN DAWN CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/020520/06)
Share code: ADW
ISIN Code: ZAE000223194
(“the Company”)




TRADING STATEMENT


In terms of the JSE Limited Listings Requirements, a listed company is required to publish a trading
statement as soon as it becomes reasonably certain that the financial results for the next period to be
reported on will differ by 20% or more from the financial results for the previous corresponding period.

The Company hereby advises that a reasonable degree of certainty exists that for the year ended 28th
February 2019

-     headline losses per share will be between (33.24) cents and (32.45) cents, representing an
      increase in losses as compared to the headline loss per share of (7.9) cents reported for the year
      ended February 2018; and

-     losses per share will be between (34.1) cents and (32.9) cents, representing an increase in
      losses as compared to the loss per share of (12.1) cents reported for the year ended February
      2018.

Headline loss per share increased mainly due to lack of new funding available to the Company and its
subsidiaries during the period and once off benefit of the SARS settlement in the previous period and
not repeated during this period.

The weighted average shares in issue increased from 21,925 million to 28,019million after taking into
consideration the partial dilution due to the specific issue of 26,8 million share for cash at 35 cent per
share in December 2018.

Loss per share increased by a smaller margin than headline loss per share mainly as a result of the
prior year loss per share being significantly higher than the prior year headline loss per share due to
goodwill written off.

There are no discontinued operations reported on in this financial period.

The financial information on which this trading statement is based has not been reviewed or reported
on by the auditor of the Company. The audited results for the year ended 28 February 2019 are
expected to be published on or about 31 May 2019.

Johannesburg
29 May 2019

Designated Adviser

PSG Capital

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