RAND MERCHANT INVESTMENT HOLDINGS LIMITED - Trading statement for the year ended 30 June 2020

Trading statement for the year ended 30 June 2020

RAND MERCHANT INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2010/005770/06
ISIN: ZAE000210688
Share code: RMI
("RMI" or "the group")

TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2020

RMI shareholders are referred to the trading statements released on SENS by
Momentum Metropolitan Holdings Limited ("MMH") and Discovery Limited
("Discovery") on 17 August 2020 and 28 August 2020 respectively and the
interim results announcement of Hastings Group Holdings plc ("Hastings")
released on RNS on 5 August 2020.

RMI regards normalised earnings per share (which excludes non-operational
items and accounting anomalies) as the key indicator of the group’s
operational performance.

The MMH and Discovery trading statements describe the negative impact of
the significant provisions for the expected future effects of Covid-19 on
normalised earnings. These trading statements also refer to the negative
impact of certain owner-occupied property and goodwill impairments and the
continued volatility in long-term interest rates in both South Africa and
the United Kingdom on earnings and headline earnings.

Pursuant to paragraph 3.4(b) of the JSE Limited Listings Requirements, the
following guidance is provided to RMI shareholders regarding the expected
outcome for the year ended 30 June 2020:

                                Year ended   Guidance for the year ended
                                   30 June          30 June 2020
                                      2019
                                   (cents)   % decrease      Range (cents)

Normalised earnings per share       266.9    20% to 30%     186.8 to 213.5
Headline earnings per share         249.0    45% to 55%     112.1 to 137.0
Earnings per share                  265.1    55% to 65%      92.8 to 119.3

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

RMI’s audited results for the year ended 30 June 2020 are expected to be
released on SENS on Friday, 25 September 2020.

Sandton
2 September 2020

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 02-09-2020 03:18:00
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