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DELTA EMD LIMITED - Trading update and trading statement for the period from 28 December 2017 to 27 March 2019.

Release Date: 19/06/2019 13:02
Code(s): DTA     PDF:  
 
Wrap Text
Trading update and trading statement for the period from 28 December 2017 to 27 March 2019.

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” or “the Group”)


TRADING UPDATE AND TRADING STATEMENT FOR THE PERIOD FROM 28 DECEMBER
2017 TO 27 MARCH 2019.


Trading update


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


The only assets remaining in the Company at year end is the cash
balance.
At the general meeting held on 10 June 2019 shareholders approved the
payment of a special dividend which constitute the disposal by Delta
EMD of the greater part of its assets, the voluntary winding-up of
Delta EMD, the appointment of the liquidator and the delisting form
the JSE Limited of the Delta EMD shares. The results of this meeting
were published on SENS on 10 June 2019 and in the press on 11 June
2019. Finalisation announcement will be published once all conditions
precedent have been fulfilled, including the issue of Compliance
certificate by the Takeover Regulation Panel.

As set out in the detailed timetable in the circular dated Thursday,
18 April 2019, the Delta EMD shares will be delisted from JSE at
commencement of trade on Tuesday, 23 July 2019.



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 15 month period
up to 27 March 2019 (“the period”). Shareholders are advised that Delta
EMD’s loss per share for the period is expected to be between 48 cents
and 52 cents, representing a reduction from the previous 12 month
period’s earnings per share of 6.8 cents.

Delta EMD also expects headline loss per share for the period to be
between 11.5 cents and 12 cents, representing a reduction from the
previous 12 month period’s headline earnings per share of 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 results for the period ended 27 March 2019 are expected to
be released before the end of June 2019.

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


19 June 2019
Nelspruit

Sponsor
Deloitte & Touche Sponsor Services Proprietary Limited

Date: 19/06/2019 01:02:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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