EQS
EQS
EQS - Eqstra Holdings Limited - Trading statement
Eqstra Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/011672/06)
Share code: EQS & ISIN: ZAE000117123
("Eqstra")
TRADING STATEMENT
In compliance with section 3.4(b) of the JSE Listings Requirements, issuers are
required to publish a trading statement as soon as they are satisfied, with a
reasonable degree of certainty that the financial results for the period
reported on will differ by at least 20% from those of the previous corresponding
period.
Shareholders are referred to the trading statement announcement dated 29 June
2010 and are further advised that although the group is profitable before
taxation, there are impairments to deferred tax assets in the construction and
mining distributorships that have resulted in the group anticipating negative
earnings per share ("EPS") of between 15 and 25 cents and negative headline
earnings per share ("HEPS") of between 25 and 35 cents for the year ended 30
June 2010.
As a result of the rights offer, detailed in the circular to shareholders dated
7 June 2010, the previous corresponding period`s EPS and HEPS have been restated
in terms of circular CC03/09 issued by SAICA and IAS 33 to 15.1 cents and 10.9
cents respectively.
Management can confirm that, in spite of the rights offer proceeds received on
25 June 2010, banking covenants for the period ended 30 June 2010 have been met.
The financial information, on which this trading statement is based, has not
been reviewed or reported on by Eqstra`s auditors. The statement is based on
financial information available at the time of this publication. Eqstra`s
financial year end results are expected to be released on SENS on or about 24
August 2010.
Johannesburg
26 July 2010
Sponsor - Merrill Lynch South Africa (Pty) Limited
Date: 26/07/2010 15:44:01 Produced by the JSE SENS Department.
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