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MET
MET
MET - Metropolitan Holdings Limited - Trading Statement
Metropolitan Holdings Limited
Incorporated in the Republic of South Africa
Registration Number: 2000/031756/06
JSE share code: MET
NSX share code: MTD
ISIN: ZAE000050456
("Metropolitan" or "the company")
Trading statement in terms of the JSE Listing Requirements
Metropolitan`s results for the year ended 31 December 2008 will be released on
11 March 2009. In terms of 3.4(b)(i) of the JSE Listings Requirements, listed
companies must publish a trading statement as soon as they are satisfied that a
reasonable degree of certainty exists that the financial results for the period
to be reported upon next will differ by at least 20% from the financial results
for the previous corresponding period.
Despite the severity of the market conditions during 2008 and the associated
lower average asset levels, the Metropolitan group achieved sound operating
results for the year. Diluted core headline earnings per share will be broadly
in line with the figure reported for the 2007 financial year.
Global investment market values declined significantly over the year, resulting
in lower overall investment returns and a net capital depreciation on the
group`s shareholder funds. This contrasts with the significant gains reported
in 2007.
Shareholders are therefore advised that the group`s diluted earnings per share
and diluted headline earnings per share will reflect a decrease of between 105%
and 115% on the comparative 2007 results. Notwithstanding the impact of the
adverse market conditions, the Metropolitan group remains well capitalised.
The forecast financial information on which this trading statement is based has
not been reviewed and reported on by Metropolitan`s external auditors either in
accordance with paragraph 3.4(b)(vi)(1)(aa) or 3.4(b)(vi)(1)(bb) of the JSE
Listings Requirements.
Bellville
20 February 2009
Sponsor
Merrill Lynch South Africa (Pty) Ltd
Please note: Diluted earnings per share and core headline earnings per share are
defined on page 27 of the 2007 annual report. Diluted earnings per share are
figures that have been adjusted for convertible redeemable preference shares,
staff share scheme shares and treasury shares in issue. Core headline earnings
per share eliminate items of both a once-off and an inherently volatile nature,
such as changes to the valuation basis, capital appreciation/depreciation and
investment variances.
end
DATE 20 FEBRUARY 2009
QUERIES WILHELM VAN ZYL
GROUP CHIEF EXECUTIVE
METROPOLITAN HOLDINGS LIMITED
TEL 021 9406637
PRESTON SPECKMANN
GROUP FINANCE DIRECTOR
METROPOLITAN HOLDINGS LIMITED
TEL 021 9406634 OR 083 285 6454
TYRREL MURRAY
GENERAL MANAGER: GROUP FINANCE
METROPOLITAN HOLDINGS LIMITED
TEL 021 9405083 OR 082 889 2167
Date: 20/02/2009 16:01:48 Produced by the JSE SENS Department.
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