| Tue 28 Sep 2010, 17:09 | | ACT/ACTP - AfroCentric - Revised Trading Statement |
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ACT ACTP
ACT
ACT/ACTP - AfroCentric - Revised Trading Statement
AFROCENTRIC INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT, ACTP ISIN: ZAE000078416, ZAE000082269
("AfroCentric" or "the Company")
REVISED TRADING STATEMENT
In terms of paragraph 3.4(b) of the JSE Limited ("JSE") Listings Requirements,
companies are required to publish a trading statement as soon as they are
satisfied that a reasonable degree of certainty exists that the financial
results for the period to be reported on will differ by at least 20% from that
of the previous corresponding period.
Furthermore, in terms of paragraph 3.4(b)(iv) of the JSE Listings Requirements,
if after publication of a trading statement but before publication of the
relevant periodic financial results, a company becomes reasonably certain that
their previously published number in the trading
statement is no longer accurate, the company must publish another trading
statement in accordance with paragraph 3.4(b).
Further to the SENS announcement published on 22 September 2010, shareholders
are hereby advised that AfroCentric is currently finalising its results for the
year ended 30 June 2010. Accordingly, a review of the financial results for the
year ended 30 June 2010, has indicated that a final audit adjustment has
marginally impacted on the basic loss per share and the diluted basic loss per
share for the financial year ended 30 June 2010. The basic earnings per share
("EPS") and basic diluted earnings per share will now be between 85% and 115%
lower than that reported for the previous corresponding period.
Notwithstanding this dramatic impact on the company`s basic EPS, headline
earnings per share ("HEPS") and diluted HEPS will remain unchanged between 50%
and 70% higher than that reported for the previous corresponding reporting
period.
The financial information on which this trading statement is based, has not been
reviewed by the company`s auditors.
Sandton
28 September 2010
Sponsor:
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 28/09/2010 17:09:02 Produced by the JSE SENS Department.
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