TREMATON CAPITAL INVESTMENTS LIMITED - Trading Statement for the year ended 31 August 2023

Trading Statement for the year ended 31 August 2023

Trematon Capital Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/008691/06
Share code: TMT
ISIN: ZAE000013991
("Trematon" or "the Trematon group")

TRADING STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023

In terms of the Listing Requirements of the JSE Limited ("Listings
Requirements"), a listed company is required to publish a trading
statement as soon as it becomes satisfied that a reasonable degree of
certainty exists that the financial results for the period to be
reported on next will differ by at least 20% from those of the previous
corresponding period.

Shareholders are hereby advised that the Trematon group is currently
finalising its annual financial results for the year ended 31 August
2023.

Trematon is an investment holding company and uses earnings, headline
earnings and the intrinsic value model to provide management and
investors with a realistic and transparent way of evaluating
Trematon's performance. Trematon's earnings and headline earnings are
inherently volatile and do not provide an accurate indication of the
operations of the Trematon group. Management considers the intrinsic
net asset value ("INAV") to be the most important financial measure
of value for shareholders. The INAV is compiled using a combination
of listed market prices, external professional valuations and/or
directors valuations, where applicable and reflects the realisable
value of the company based on an efficient disposal of the assets.

The Trematon group expects:

  •   basic earnings per share for the year ended 31 August 2023 to
      be between 31.5 cents and 32.0 cents as compared to basic
      earnings of 8.3 cents for the year ended 31 August 2022
      ("previous comparable period");

  •   headline earnings per share for the year ended 31 August 2023
      is expected to be between 3.5 cents and 3.8 cents as compared
      to headline earnings of 8.7 cents in the previous comparable
      period;

  •   net asset value ("NAV") per share for the year ended 31 August
      2023 to be between 365 cents and 370, which is between 1% and 0%
      lower than the previous comparable period's 370 cents; and

  •   INAV per share for the year ended 31 August 2023 to be between
      435 cents and 440 cents, which is between 11% and 10% lower than
      the previous comparable period's 487 cents.

Further details will be provided in the Trematon group results for
the year ended 31 August 2023, due to be published on SENS on or about
23 November 2023.

The financial information on which this trading statement is based
has not been reviewed or reported on by the Trematon group's auditors
in accordance with either 3.4b(viii)(1)(aa) or 3.4b(viii)(1)(bb) of
the Listings Requirements.

Cape Town
14 November 2023

JSE Sponsor
Questco Corporate Advisory Proprietary Limited

Date: 14-11-2023 04:00:00
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