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COMAIR LIMITED - Trading Statement

Release Date: 04/07/2019 15:01
Code(s): COM     PDF:  
 
Wrap Text
Trading Statement

Comair Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1967/006783/06)
ISIN: ZAE00002983
Share Code: COM
(“Comair” or “the Company”)

TRADING STATEMENT

In terms of the JSE Limited Listings Requirements, companies are required to provide
guidance to the market when they are satisfied that a reasonable degree of certainty exists
that the financial results for the current reporting period will differ by at least 20% from the
results of the previous corresponding reporting period.

Further to the trading statement released on SENS on 15 February 2019 wherein
shareholders were advised of the court awarded settlement in respect of SAA’s anti-
competitive travel agent incentive schemes (“the Award”), shareholders are advised that as
a direct result of the Award, earnings per share (“EPS”) and headline earnings per share
(“HEPS”) for the financial year ending 30 June 2019 are expected to be more than 20%
higher than the EPS of 69.8 cents and HEPS of 69.5 cents in the previous corresponding
period. The Award, a once off item, is expected to increase EPS and HEPS by 277.43
cents.

Shareholders are further advised that EPS and HEPS excluding the Award for the financial
year ending 30 June 2019 are expected to be more than 20% lower than the previous
corresponding period. The effects of the settlement will be fully disclosed in the financial
results.

Comair is currently finalising its results for the year ended 30 June 2019. An expected
earnings and headline earnings range will be published when the Group has reasonable
certainty pertaining to the results.

The financial information on which this trading statement is based has not been reviewed
and reported on by Comair’s external auditors.

Bonaero Park
4 July 2019

Sponsor
PSG Capital

IMPORTANT NOTICE TO FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS

FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS IN COMAIR LIMITED (“COMAIR”) SHOULD
NOTE THAT, IN ORDER TO ENABLE COMAIR (AS A LICENSED AIR SERVICES OPERATOR IN SOUTH
AFRICA) TO REMAIN COMPLIANT WITH THE FOREIGN OWNERSHIP RESTRICTION CONTAINED
SECTIONS 16(4)(c) AND 19(a) OF THE AIR SERVICES LICENSING ACT, NO. 115 OF 1990, THE VOTING
RIGHTS OF FOREIGN SHAREHOLDERS MAY BE DECREASED PROPORTIONATELY SUCH THAT THE
VOTING RIGHTS OF FOREIGN SHAREHOLDERS DO NOT, IN AGGREGATE, EXCEED 24.99%. FOREIGN
SHAREHOLDERS AND PROSPECTIVE INVESTORS ARE REFERRED TO THE COMAIR’S MEMORANDUM
OF INCORPORATION AND WEBSITE (www.comair.co.za) FOR FURTHER DETAILS. IF FOREIGN
SHAREHOLDERS OR PROSPECTIVE INVESTORS ARE IN ANY DOUBT AS TO WHAT ACTION TO TAKE
THEY SHOULD SEEK ADVICE FROM THEIR BROKER, ATTORNEY OR OTHER PROFESSIONAL ADVISER.

Date: 04/07/2019 03:01:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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