| Fri 27 Jun 2008, 8:15 | | SNU - Sentula Mining Limited - Profit forecast and cautionary announcement |
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SNU
SNU
SNU - Sentula Mining Limited - Profit forecast and cautionary announcement
SENTULA MINING LIMITED
(Registration number 1992/001973/06)
(Incorporated in the Republic of South Africa)
Share code: SNU & ISIN code: ZAE000107223
("Sentula" or "the company")
PROFIT FORECAST AND CAUTIONARY ANNOUNCEMENT
1. Background
Shareholders are referred to the reviewed results of Sentula for the year
ended 31 March 2008 which were released on the Securities Exchange News
Service of the JSE Limited ("JSE") on 25 June 2008 and published in the
press on 26 June 2008.
2. Suspension of trading in Sentula shares on the JSE
Sentula`s management held a conference call with certain investors on 25
June 2008, during which discussions certain comments were made on behalf of
Sentula regarding future earnings which constituted a profit forecast, as
envisaged by the Listings Requirements of the JSE ("Listings
Requirements").
The recorded teleconference call is available on Sentula`s website at the
link: www.sentula.co.za,
Investor conference call playback, dial - 011 305 2030 and account Code:
22507#.
This information was not published as part of the reviewed results of
Sentula referred to above.
In compliance with the Listings Requirements, Sentula herewith announces a
profit forecast, which will be reviewed by a reporting accountant, as set
out below.
The JSE halted trading in Sentula`s shares until the publication of this
announcement. The halt will be lifted by the JSE following the publication
of this announcement.
3. Profit forecast
Consolidated income statement for the year ended 31 March 2009:
R`000
Profit before tax 476,924
Tax expense -145,462
Profit from continuing operations 331,462
Income from investments in associates 69,000
Profit for the year 400,462
Weighted average number of shares (`000) 235 566
Earnings per share (cents) 170
Headline earnings per share (cents) 170
Notes:
1. The expected increase in the earnings would be as a result of the
following:
- expansion of the operating fleet, in line with 2008 capital
expenditure;
- full year consolidation of 2008 acquisitions;
- full year accounting for investment in associated company
(Koornfontein); and
- awarding of additional contracts, the full benefit of which will come
through in the 2009 financial year.
2. The profit forecast does not include any potential negative goodwill.
3. Attention is drawn to the fact that the above information has not been
reviewed or reported on by reporting accountants. The JSE has requested
Sentula, in terms of paragraph 8.41 of the Listings Requirements, to obtain
a reporting accountants` report on the profit forecast.
4. Cautionary announcement
Shareholders are advised to exercise caution when dealing in the company`s
securities until such time as the company has obtained a reporting
accountants` report on the profit forecast.
A reporting accountants` report will, when issued, be made available for
inspection at the registered offices of Sentula at 28 Patrick Road, Jet
Park, Boksburg, 1459.
Johannesburg
27 June 2008
Sponsor:
BJM Corporate Finance (Pty) Ltd
Date: 27/06/2008 08:15:01 Produced by the JSE SENS Department.
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