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BRT BRN
BRT
BRT / BRN - Brimstone - Trading Statement And Withdrawal Of Cautionary
Announcement
Brimstone Investment Corporation Limited
(Registration number 1995/010442/06)
(Incorporated in the Republic of South Africa)
ISIN Number: ZAE000015277 Share Code: BRT
ISIN Number: ZAE000015285 Share Code: BRN
("Brimstone" or the "Company")
Trading statement and withdrawal of cautionary announcement
1. Trading statement
In terms of the JSE Limited Listings Requirements, companies are required
to publish a trading statement as soon as they are reasonably certain that
the financial results for the current reporting period will be more than
20% different than that of the prior comparative period.
Further to the above, Brimstone expects a loss per share of between 42.2
cents and 50.5 cents, and a headline loss per share of between 38 cents and
45.5 cents, for the year ended 31 December 2008, which is down from the
earnings per share and headline earnings per share of 359.8 cents and 321.5
cents respectively reported for the year ended 31 December 2007.
The reduction in earnings is primarily as a result of a reduction in fair
value gains in underlying investments.
2. Withdrawal of cautionary
Brimstone shareholders are referred to the announcement dated 30 January
2009 which set out information regarding the entities placed into
liquidation by Brimstone`s wholly-owned subsidiary House of Monatic
(Proprietary) Limited, being Fifth Element Marketing (Proprietary) Limited,
Canterbury International SA (Proprietary) Limited and O`Neill South Africa
(Proprietary) Limited (collectively "the businesses") at which stage the
financial impact of the liquidation of the businesses on Brimstone`s
results for the year ended 31 December 2008 was not quantifiable. It is now
estimated that the businesses contributed a loss of 22.1 cents and 19.9
cents per share to Brimstone`s loss and headline loss per share for the
year ended 31 December 2008 respectively. Further to this information,
caution is no longer required to be exercised by Brimstone shareholders
when dealing in their Brimstone securities.
Shareholders are advised that the above information has not been reviewed
or reported on by the Company`s auditors and that the Company`s results for
the year ended 31 December 2008 are expected to be published on or about 23
February 2009.
19 February 2009
Cape Town
Investment bank and sponsor
Nedbank Capital
Date: 19/02/2009 17:19:56 Produced by the JSE SENS Department.
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