AFRICAN DAWN CAPITAL LIMITED - Trading Statement and Restatement of Prior Year Interim Results

Trading Statement and Restatement of Prior Year Interim Results

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


TRADING STATEMENT AND RESTATEMENT OF PRIOR YEAR INTERIM RESULTS


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.

For the purposes of this trading statement it is necessary to compare the loss per share and
headline loss per share for the six-month period ended 31 August 2019 to the restated figures
for the six-month period ended 31 August 2018 as set our below.

Accordingly, the Company hereby advises that a reasonable degree of certainty exists that for
the six-month period ended 31 August 2019:

-       loss per share will be between 9.1 cents and 13.1 cents, representing a decrease of
        between 34.8% and 54.8% compared to the restated loss per share of 20.1 cents
        reported for the six-month period ended 31 August 2018; and

-       headline loss per share will be between 9.2 cents and 13.0 cents, representing a
        decrease of between 32.5% and 52.5% compared to the restated headline loss per
        share of 19.3 cents reported for the six-month period ended 31 August 2018.


The headline and earnings loss per share decrease is not due to operational performance but
mainly due to the additional shares that were issued by Afdawn during the period.

RESTATEMENT OF PRIOR YEAR INTERIM RESULTS

Due to the adoption of IFRS updates as well as the correction of the sale of the subsidiary
SME Snapshot Proprietary Limited in March 2018, various items in the unaudited results of
the six-month period ended 31 August 2018 will be restated. The effect of the restatement on
loss per share and headline loss per share are shown below:

                                    Previously reported results Restated results 31 August
                                    31 August 2018              2018
    Loss per share (cents)                                19.8                        20.1
    Headline loss per share (cents)                       19.8                        19.3


The financial information on which this trading statement is based has not been reviewed or
reported on by the auditor of the Company. The unaudited results for the six-month period
ended 31 August 2019 are expected to be published on or about 29 November 2019.

Johannesburg
25 November 2019

Designated Advisor
PSG Capital

Date: 25-11-2019 05:05:00
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