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SOV
SOV
SOV - Sovereign Food Investments Limited - Trading Statement
SOVEREIGN FOOD INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number 1995/003990/06
JSE Code: SOV
ISIN Number: ZAE000009221
("the Company")
TRADING STATEMENT
Shareholders are referred to the trading statement released by the Company on 21
July 2010, and in accordance with paragraph 3.4(b) of the JSE Limited Listings
Requirements, shareholders are further advised that headline earnings per share
and earnings per share for the six months ended 31 August 2010 are expected to
be between 80% and 100% lower than the comparative figures for the six months
ended 31 August 2009.
Further to the above, shareholders should note that headline earnings and
earnings for the six months ended 31 August 2010 are expected to be between 140%
to 160% higher and 100% to 120% higher, respectively, than the pro forma
comparative figures for the six months ended 28 February 2010 ("Pro Forma
Information"). The Pro Forma Information is set out below.
The financial information on which this trading statement is based has not been
reviewed and/or reported on by the Company`s auditors.
The results for the six months ended 31 August 2010 are expected to be published
on SENS on or about 23 September 2010.
PRO FORMA INFORMATION
6 months ended Year ended Pro forma for
31 August 2009 28 February 2010 the 6 months
(3) (4) ended 28
February 2010
(5)
R`000
Earnings 23 249 11 069 (12 180)
Headline 23 249 11 658 (11 591)
Earnings
Notes:
1 The Pro Forma Information has been prepared for illustrative purposes only
and because of its nature may not give a fair presentation of the Company`s
financial position for the 6 months ended 28 February 2010.
2 The Pro Forma Information is the responsibility of the Company`s directors.
3 Extracted from the published unaudited consolidated interim results for the
6 months ended 31 August 2009.
4 Extracted from the published audited consolidated results for the year
ended 28 February 2010.
5 The Pro Forma Information was calculated by subtracting the unaudited
consolidated earnings and headline earnings for the 6 months ended 31
August 2009 from the audited consolidated earnings and headline earnings
for the year ended 28 February 2010.
Port Elizabeth
20 September 2010
Sponsor
One Capital
Date: 20/09/2010 17:15:03 Produced by the JSE SENS Department.
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employees and agents accept no liability for (or in respect of) any direct,
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howsoever arising, from the use of SENS or the use of, or reliance on,
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