ARB HOLDINGS LIMITED
(Registration number: 1986/002975/06)
Share code: ARH ISIN: ZAE000109435
(“ARB” or “the company”)
In accordance with paragraph 3.4 of the Listings Requirements
of the JSE Limited, a listed company is required to publish a
trading statement as soon as it becomes aware, with a reasonable
degree of certainty, that the financial results for the next
period to be reported on are likely to vary by more than 20%
from the previous corresponding period.”
Shareholders are advised that ARB expects its earnings per share
(“EPS”) for the six months ended 31 December 2019, to be between
31.39 cents and 33.60 cents which is between 35% and 45% higher
than the EPS reported for the six months ended 31 December 2018,
of 23,25 cents.
It further expects its headline earnings per share (“HEPS”) for
the six months ended 31 December 2019, to be between 31.28 cents
and 33.59 cents which is between 35% and 45% higher than the
HEPS reported for the six months ended 31 December 2018, of
The expected increase arises primarily from the effects of the
non-cash IFRS adjustment arising from a decrease in the
valuation of the put option liability issued to the non-
controlling interest in Eurolux of between R4m and R8m, compared
to the R10.6m expense (increase in valuation) for the
comparative period last year. This represents an increase in EPS
and HEPS of between 6,21 cents and 7,91 cents per share. This
increase in the valuation of the put option liability is
primarily as a result of the decrease in the price earnings
ratio applicable in terms of the put option
Shareholders are again cautioned that the put option liability
calculations are very sensitive to movements in the share price.
ARB’s results for the six months ended 31 December 2019 are
expected to be released on or about Thursday, 19 February 2019.
The information on which this trading update has been based has
not been reviewed or reported on by the company’s auditors.
3 February 2020
Grindrod Bank Limited
Date: 03-02-2020 05:20:00
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