ABL / ABLP - African Bank Investments - Trading Statement
ABL ABLP
ABL
ABL / ABLP - African Bank Investments - Trading Statement
AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank controlling company)
(Registration number 1946/021193/06)
Ordinary share code : ABL ISIN : ZAE000030060
Preference share code : ABLP ISIN : ZAE000065215
("ABIL")
TRADING STATEMENT
In terms of the Listing Requirements of the JSE Limited, ABIL is currently
finalising its results for the financial year ended 30 September 2008. In this
regard, shareholders are advised that earnings per share and headline earnings
per share are expected to be 21% lower than the previous financial year.
This is largely attributable to the previously disclosed BEE charge of R291
million, after tax, relating to the issue of 11,6 million ABIL ordinary shares
to Masonge - ABIL`s second BEE programme, which in terms of IFRS 2-Share-based
payments will be expensed through the income statement in the year ending 30
September 2008.
Excluding this once-off charge, earnings per share and headline earnings per
share are expected to be 6% lower than the previous financial year, reflecting
the dilutive impact of the consolidation of Ellerines for the nine month period
ending 30 September 2008.
The African Bank business unit is expected to report an increase in earnings and
headline earnings of 8% for the year ending 30 September 2008.
These results are due to be released on Monday 24th November 2008.
The forecast financial information on which this trading statement is based has
not been reviewed and reported on by ABIL`s auditors.
Midrand
7 November 2008
Merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 07/11/2008 11:45:01 Produced by the JSE SENS Department.
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