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MKL
MKL
MKL - Makalani Holdings - Trading statement for the interim period ended 31
december 2009 and further cautionary announcement
Makalani Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/000726/06)
Share code: MKL
ISIN: ZAE000066700
("Makalani" or "the Company")
TRADING STATEMENT FOR THE INTERIM PERIOD ENDED 31 DECEMBER 2009 AND FURTHER
CAUTIONARY ANNOUNCEMENT
Trading Statement
Makalani is currently finalising its results for the 6 months ended 31 December
2009. Unitholders are advised that headline earnings per linked unit (HEPLU) is
anticipated to increase within the range of 367 cents per linked unit to 421
cents per linked unit. This compares to HEPLU of 268 cents as reported for the 6
months to 31 December 2008.
The increase is largely attributable to the low base that was reported in the
comparative period, as a result of the appropriate write-downs of the equity
investments during that period.
The net asset value (NAV) of the Company is anticipated to be between R98.90 to
R99.44 per linked unit. The NAV for the comparative period was R106.97.
The financial information on which this trading statement is based has neither
been reviewed by nor reported on by the Company`s external auditors.
The Company`s results will be released on SENS on or about the 22nd of February
2010.
Further cautionary announcement
Unitholders are referred to the detailed cautionary announcement released on
SENS on 14 December 2009, wherein unitholders were advised of the proposed
delisting of Makalani from the JSE Limited and the proposed offer by Makalani to
unitholders to repurchase their Makalani units ("the Transaction".)
The final terms relating to the Transaction including the financial effects on
unitholders have not yet been finalised, but once finalised may have a material
effect on the price of the Company`s linked units. Accordingly, unitholders are
advised to continue to exercise caution when dealing in the Company`s linked
units until a further announcement is released on SENS.
Illovo
1 February 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Legal advisor
Edward Nathan Sonnenbergs Inc
Date: 01/02/2010 08:30:03 Produced by the JSE SENS Department.
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