REM
REM
REM - Remgro Limited - Trading statement
Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
Share code: REM
("Remgro" or "the Company")
TRADING STATEMENT
Paragraph 3.4 (b) of the Listings Requirements of the JSE Limited ("JSE Listings
Requirements") requires companies to publish a trading statement as soon as they
become reasonably certain that the financial results for the period to be
reported upon next will differ by at least 20% from that of the previous
corresponding period.
Remgro is currently finalising its results for the year ended 31 March 2010,
which is due to be released on SENS on or about 21 June 2010.
In compliance with the JSE Listings Requirements, shareholders are advised that
Remgro`s reported headline earnings per share ("HEPS") is expected to be between
28% and 32% lower than the HEPS of the comparative year ended 31 March 2009.
This decrease in HEPS is mainly due to the unbundling of the investment in
British American Tobacco Plc ("BAT") to Remgro shareholders as an interim
dividend in specie on 3 November 2008 ("the BAT transaction"). As a result no
income from BAT was accounted for during the year under review, while BAT was
still being equity accounted for the seven months ended 31 October 2008 in the
comparative year.
HEPS from continuing operations, which excludes the equity accounted income of
BAT, as well as all non-recurring costs relating to the BAT transaction, is not
expected to differ by more than 20% from the HEPS of the comparative year ended
31 March 2009.
The financial information on which this trading statement is based has not been
reviewed and reported on by the Company`s auditors.
Stellenbosch
9 June 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 09/06/2010 08:46:01 Produced by the JSE SENS Department.
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