| Fri 6 Nov 2009, 16:49 | | TDH - Tradehold Limited - Trading Statement |
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TDH
TDH
TDH - Tradehold Limited - Trading Statement
Tradehold Limited
(Incorporated in the Republic of South Africa)
(Registration number 1970/009054/06)
JSE code: TDH
ISIN: ZAE000026902
("Tradehold" or "the Company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, listed companies are
required to publish a trading statement as soon as they become aware 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.
Accordingly, shareholders are advised as follows:
- the Company expects to report headline earnings per share of 1,0 pence for
the six-month period ended 31 August 2009, compared to the restated (see
note below) loss of 1,8 pence per share in respect of the period ended 31
August 2008; and
- the Company expects to report basic earnings per share of 0,8 pence for the
six-month period ended 31 August 2009, compared to the loss of 2,4 pence
per share in respect of the period ended 31 August 2008.
Restatement of August 2008 headline earnings
During May and July 2009, Tradehold made announcements regarding the calculation
of the headline loss for the year ended 28 February 2009. Tradehold was
informed that in the calculation of the headline loss, fair value adjustments
relating to two financial assets, impairment losses on loans and legal and
professional expenditure, were erroneously excluded. In terms of Circular
3/2009, as issued by the South African Institute of Chartered Accountants, items
of this nature should be included in headline earnings. The correct application
of Circular 3/2009 results in a headline loss of 1,8 pence per share in respect
of the six months ended 31 August 2008, calculated as follows:
Unaudited Unaudited
6 months 6 months
to to
(GBP`million) 31/08/08 31/08/08
Restated As
reported
Net loss for the period (8,2) (8,2)
Loss on disposal of discontinued operations 1,2 1,2
Shortfall on revaluation of investment
properties after taxation and minority 0,9 0,9
interest - 0,9
Fair value adjustment: Instore investment
Fair value adjustment: UBS investment - 2,2
Legal and professional expenditure - 1,2
Headline loss for the period (6,1) (1,8)
Headline loss per share (pence) (1,8) (0,5)
The financial information for the six months ended 31 August 2009 contained in
this Trading Statement has not been reviewed and/or reported on by the Company`s
auditors. It is anticipated that the interim results for the six months ended 31
August 2009 will be published on or about 12 November 2009.
Cape Town
6 November 2009
Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Ltd
Date: 06/11/2009 16:49:09 Produced by the JSE SENS Department.
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