WEZ
WEZ
WEZ - Wesizwe Platinum Limited - Trading statement
WESIZWE PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/020161/06)
JSE code: WEZ ISIN: ZAE000075859
(the "Company" or "Wesizwe")
TRADING STATEMENT
In line with JSE disclosure requirements, shareholders are advised that the
Company expects to report basic earnings per share attributable to ordinary
shareholders for the six months ended 30 June 2010 of between 49 cents and 51
cents per share compared to a basic loss per share of 2.55 cents for the
previous comparable period.
The comprehensive profit position arises from recognising the purchase of
Rustenburg Platinum Mine`s 37% interest in the Western Bushveld Joint Venture
("WBJV")according to IFRS 3 as well as the purchase consideration being fixed in
shares (211 850 125 ordinary shares at approximately R5.48). At the time of
closure of the transaction, the applicable share price was R2.20. This
difference in share price resulted in a bargain purchase which had to be
accounted for through the statement of comprehensive income.
The financial information included in this trading statement has not been
reviewed and reported on by the Company`s external auditors.
The results for the half year ended 30 June 2010 will be released on SENS before
the end of September.
Johannesburg
23 September 2010
Sponsor:
Investec Bank Limited
Date: 23/09/2010 16:46:01 Produced by the JSE SENS Department.
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