| Fri 28 Nov 2008, 9:22 | | ELE - ElementOne - Trading Statement |
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ELE
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ELE - ElementOne - Trading Statement
ElementOne Limited
(Formerly Avusa Limited, formerly Johnnic Communications Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1889/000352/06)
Share Code: ELE ISIN: ZAE000115887
("ElementOne" or "the company")
TRADING STATEMENT
Shareholders are advised that, for the six months ended 30 September 2008, the
company` made a profit before exceptional items and tax of R13 million. In
addition a realised profit of R30 million was made from the sale of a current
asset, being the company`s holding of MTN shares. After a downward fair value
adjustment of the investment in the Caxton group of R418 million and after
taking tax into account, the attributable loss for the period was R324 million
which translates into an attributable and headline loss of 312 cents per share.
As advised in the company`s financial results announcement for the year ended 31
March 2008, ElementOne undertook two major corporate restructurings during the
year ended 31 March 2008, being the sale of its interests in Electronic Media
Network Limited and SuperSport International Holdings Limited, and the
subsequent unbundling to shareholders of Avusa Limited, a company comprising
ElementOne`s operating media and entertainment assets.
In light of the above, the company`s earnings and headline earnings for the six
months ended 30 September 2008 are not comparable with those of the prior
comparative period.
The financial information on which this trading statement is based has been
reviewed by the company`s auditors.
ElementOne`s financial results for the six months ended 30 September 2008 are
scheduled to be released on or about Monday, 1 December 2008.
Johannesburg
28 November 2008
Sponsor
Nedbank Capital
Date: 28/11/2008 09:22:02 Produced by the JSE SENS Department.
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