| Fri 31 Jul 2009, 16:13 | | TDH - Tradehold - Restatement Of Headline Earnings |
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TDH
TDH
TDH - Tradehold - Restatement Of Headline Earnings
Tradehold Limited
(Incorporated in the Republic of South Africa)
(Registration number 1970/009054/06)
JSE code: TDH
ISIN: ZAE000026902
("Tradehold" or "the Company")
RESTATEMENT OF HEADLINE EARNINGS
Shareholders are referred to the audited annual financial statements of the
Company for the year ended 28 February 2009 (posted to shareholders on 29 May
2009) wherein it was reported that the headline loss per share for that
period amounted to 2,8 pence per share.
Tradehold has subsequently been informed by its auditors that in the
calculation of the headline loss for the year ended 28 February 2009,
impairment losses on loans and legal and professional expenditure, in the
amount of GBP1,1 million, were erroneously excluded.
In terms of Circular 8/2007 Headline Earnings as issued by SAICA items of
this nature should be included in headline earnings. Taking this expenditure
into account, the headline loss per share in respect of the year ended 28
February 2009 is restated to 3,1 pence. No adjustment to the basic loss per
share is required.
The headline loss is made up as follows (GBP`million):
Net loss for the year ended 28 February 2009 (19,5)
Loss on disposal of discontinued operations 1,2
Fair value adjustment on investment properties after taxation and
minority interest 7,2
Loss on sale and scrapping of fixed assets after taxation and
minority interest 0,2
Headline loss (10,9)
The revised condensed financial information for the year ended 28 February
2009 that reflects the restated headline loss per share has been reviewed by
the Company`s auditors. Their unqualified report is available on request from
the company secretary.
Cape Town
31 July 2009
Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Ltd
Date: 31/07/2009 16:13:04 Produced by the JSE SENS Department.
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