SAN - Sanyati Holdings Limited - Trading statement
SAN
SAN
SAN - Sanyati Holdings Limited - Trading statement
SANYATI HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/002538/06)
JSE Share code: SAN ISIN: ZAE000081055
("Sanyati" or the Company)
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited ("JSE"), companies are
required to 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 on will differ by 20% or more from the financial results for the
previous corresponding period.
Shareholders are advised that Sanyati is currently finalising its annual results
for the year ended 28 February 2009 and that the following effects on earnings
and headline earnings per share are anticipated:
- Earnings per share are expected to be between 30% and 50% below those
of the previous corresponding period. The decline in earnings per
share is due to the impairment of goodwill of approximately R 36
million.
- Headline earnings per share are expected to be in line with those of
the previous corresponding period.
- Diluted headline earnings per share and fully diluted headline
earnings per share are expected to be between 25% and 45% above those
of the previous corresponding period.
The impairment of goodwill is based on the findings of an independent evaluation
of the group`s goodwill raised on acquisitions performed by BDO Spencer Steward,
at the request of the company directors, taking current projections, economic
climate and market trading conditions into account.
The financial information on which this trading statement is based has not been
reviewed or reported on by Sanyati`s auditors.
The results for the year ended 28 February 2009 are expected to be published on
SENS on 19th May 2009.
8th May 2009
Durban
Sponsor
Exchange Sponsors
Date: 08/05/2009 12:10:01 Produced by the JSE SENS Department.
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