PLC
PLC
PLC - Placecol Holdings Limited - Revised Trading Update
PLACECOL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/025374/06)
JSE code: PLC
ISIN: ZAE00010230
("Placecol" or "the company")
REVISED TRADING UPDATE
Shareholders are referred to the announcement dated 2 June 2008, which contained
a trading update pertaining to the forecast of earnings and headline earnings
per share for the year ended 29 February 2008 of 10.4 cents, respectively. That
announcement indicated that headline earnings per share were expected to be
between 20% and 25% below the forecast.
The company`s Prospectus incorporated details of the restructuring of the
company and a potential repurchase of shares from the original vendors should
the consolidated net profit after tax for the year ended 29 February 2008 be
less than R9.2 million. The calculation of the decrease in headline earnings
set out above took into account the specific repurchase of shares in terms of
that profit warranty.
Placecol is currently finalising its audited results for the year ended 29
February 2008 and shareholders are advised that, again taking into account the
repurchase of shares in terms of the profit warranty as described above,
earnings and headline earnings per share for that year are expected to be
between 20% and 35% below the forecast, respectively. Full details of the
specific repurchase of shares, which requires shareholders` approval, will be
included in the company`s notice of annual general meeting.
The financial information on which this revised trading update is based has not
been reviewed or reported on by the company`s auditors.
The company`s audited annual financial statements for the year ended 29 February
2008 are expected to be dispatched to shareholders by no later than 8 September
2008.
Midrand
4 September 2008
Designated Adviser
Vunani Corporate Finance
Date: 04/09/2008 13:02:39 Produced by the JSE SENS Department.
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