BIO - BioScience Brands Limited - Further Trading Statement
BIO
BIO
BIO - BioScience Brands Limited - Further Trading Statement
BioScience Brands Limited
(Registration number 2005/005805/07)
Incorporated in the Republic of South Africa
Share code: BIO
ISIN code: ZAE000115036
("BioScience" or "the Company")
FURTHER TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited ("the JSE"), listed
companies are required to publish a trading statement as soon as they become
reasonably certain that the financial results for the next period to be
reported on will be more than 20% different from those of the previous
corresponding period or from a profit forecast previously provided to the
market in relation to such period.
On 3 September 2009 BioScience announced a trading update with the results
for the twelve months ended 30 June 2009 expected to improve on the prior 16
month period loss per share and headline loss per share of between 70% to
80% and the results for the twelve months ended 30 June 2009 expected to be
substantially lower than the profit forecast contained in the Circular to
Shareholders dated 13 August 2008, with earnings per share and headline
earnings per share expected to decrease by between 350% to 370%, moving to
an expected loss per share.
Shareholders are advised that upon further review by management earnings per
share and headline earnings per share are expected to decrease on the profit
forecast contained in the Circular to Shareholders dated 13 August 2008, by
between 430% and 450% due to management raising a provision for a previously
negotiated tax settlement which has recently been disputed by SARS and
further final audit adjustments. The accounting treatment of these late
entries was subject to investigation and resolution by management and to
Audit Committee approval on 23 September 2009 and final Board approval on 29
September 2009.
The financial information on which this trading statement is based has not
been reviewed or reported on by the Group`s auditors. The results for the
year ended 30 June 2009 will be published on 30 September 2009.
Durban
29 September 2009
Designated Advisor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 29/09/2009 17:36:15 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.
