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AME:  3,350   0 (0.00%)  01/01/1970 00:00

AFRICAN MEDIA ENTERTAINMENT LIMITED - Trading Statement

Release Date: 08/06/2020 14:33
Code(s): AME     PDF:  
Wrap Text
Trading Statement

AFRICAN MEDIA ENTERTAINMENT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1926/008797/06)
Share code AME ISIN ZAE000055802

(“the company”)


TRADING STATEMENT


In terms of the Listings Requirements of the JSE Limited (“JSE”), companies
are required to publish a trading statement as soon as there is a reasonable
degree of certainty that the financial results for the period to be reported upon
next will differ by at least 20% from the financial results for the previous
corresponding period.

On 30 September 2019 Classic FM South Africa (Pty) Ltd was placed under
voluntary business rescue, which resulted in substantial losses, and the prior
year's results contained a material and non-recurring gain as a result of the
reversal of many years of industry specific levies of the radio stations. As a
result, shareholders are advised that it is reasonably certain that, for the
financial year ended 31 March 2020:

   -   the headline earnings per share will be between 350 cents and 400 cents
       per share, representing a decrease of between 26% and 36% as
       compared to the headline earnings of 544,1 cents per share reported for
       the financial year ended 31 March 2019, and

   -   the earnings per share will be between 120 cents and 140 cents per
       share, representing a decrease of between 50% and 57% as compared
       to the earnings of 280,8 cents per share reported for the financial year
       ended 31 March 2019.

Shareholders are advised that the company is in the process of finalising its
results for the period concerned and it is expected that these results will be
released on SENS on or about 12 June 2020.

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


By order of the board.

Johannesburg
8 June 2020

Sponsors
Arbor Capital Sponsors

Date: 08-06-2020 02:33:00
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