SFH - S A French Limited - Trading Update and Change to Board of Directors
SFH
SFH
SFH - S A French Limited - Trading Update and Change to Board of Directors
S A FRENCH LIMITED
Incorporated in the Republic of South Africa
(Registration number 1982/009174/06)
Share code: SFH & ISIN: ZAE000108890
("SA French" or "the company")
TRADING UPDATE AND CHANGE TO BOARD OF DIRECTORS
In terms of the Listings Requirements of JSE Limited, companies are required to
publish a trading statement as soon as they become reasonably certain that the
financial results for the period to be reported on will differ by more than 20%
from that of the previous corresponding period. Accordingly, a review of the
financial results for the year ended 30 June 2009 by management has indicated
that SA French will report a loss per share of between 6.29 and 7.69 cents per
share and a headline loss per share of between 6.65 and 8.13 cents per share for
the period.
Due to the nature of SA French`s business, management have decided that it is
relevant to announce trading updates using net asset value per share and hence
the company has adopted this measure for financial periods commencing on 1 July
2009. Accordingly, a review of the financial position of the company as at 30
June 2009 by management has indicated that SA French will report net asset value
per share of between 28.18 and 34.45 cents per share for the period.
Trading conditions, particularly in the area of new equipment sales remain
difficult. Positively however, SA French made considerable progress during the
period in growing its rental fleet.
The financial information on which this trading statement is based has not been
reviewed or reported on by the company`s auditors. SA French`s audited financial
results are expected to be released on SENS on or about 30 September 2009.
In compliance with section 3.59 of the Listings Requirements of JSE Limited, the
board of directors of SA French ("the board") hereby notifies its shareholders
that Mr Hans Prinsloo has resigned as financial director. Hans will remain on at
the company until 31 December 2009 to complete his notice period. The board
thanks Hans for his contribution and wishes him well in his future endeavours.
Johannesburg
28 August 2009
Designated Adviser
Merchantec (Proprietary) Limited
Date: 28/08/2009 16:05:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
