To view the PDF file, sign up for a MySharenet subscription.

TELEMASTERS HOLDINGS LIMITED - Further Trading Statement

Release Date: 28/09/2021 14:15
Code(s): TLM     PDF:  
Wrap Text
Further Trading Statement

TELEMASTERS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 2006/015734/06
Share code: TLM & ISIN Number: ZAE000093324
(“TeleMasters” or “the Company” or “the Group”)


FURTHER TRADING STATEMENT


Shareholders are referred to the initial trading statement published on SENS on 25 August 2021
and are advised that the Board is now in a position to inform shareholders that for the year
ended 30 June 2021, the Company will report:

      -   a loss per share (“LPS”) of (7.82) cents per share (“cps”), reflecting a decrease of 402%
          on the earnings per share of 2.59 cps for the year ended 30 June 2020; and

      -   a headline loss per share (“HLPS”) of (7.82) cents per share, reflecting a decrease of 414%
          on the headline earnings per share of 2.49 cps for the year ended 30 June 2020.

As previously advised, the decrease is attributable, inter alia, to:

(a)        a once-off provision for the failure to collect revenues arising from a breach of contract
           by one customer in relation to one specific contract concluded with Catalytic
           Connections (Pty) Limited (“Catalytic Connections”), a wholly-owned Company
           subsidiary. Catalytic Connections has initiated legal proceedings in the North Gauteng
           High Court (Pretoria) to collect said revenues which proceedings comprise of an
           application to liquidate the customer and concurrently realise a personal suretyship
           signed by the CEO of the customer. While the outcome and timing of the outcome of
           such legal proceedings remain uncertain, Catalytic Connections would not have
           launched such legal proceedings without being confident of its position and ability to
           collect some or all of such revenues in due course;

(b)        following its acquisition of the remaining 75% shareholding in Conexlink (Pty) Limited
           (subsequently renamed Ultra DataCentre (Pty) Ltd (“Ultra DC”), the Company’s
           continued investment in the infrastructure and operations of the wholly-owned Ultra DC
           data centre, resulting in higher depreciation; and

(c)        a reduction in revenues earned from lower variable usage services incurred by some
           customers arising as a result of the various lockdown regulations imposed by the
           Government of South Africa in response to the COVID-19 pandemic.

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

Further details of the Group’s financial position and performance will be made available in the
annual financial results for the year ended 30 June 2021, which are anticipated to be published
on or about 30 September 2021.

Waterfall City
28 September 2021

Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 28-09-2021 02:15:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story