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PLD
PLD
PLD - Paladin Capital Limited - Trading Statement
PALADIN CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2007/032836/06)
Share Code: PLD
ISIN Number: ZAE000138970
("Paladin" or "the Company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, a listed company is
required to publish a trading statement as soon as it becomes aware that the
financial results for the next period to be reported on will show a 20% or
more difference from those of the previous corresponding period.
Paladin hereby advises that a reasonable degree of certainty exists that, for
the six months ended 31 August 2010:
- recurring headline earnings will be between 6.5 cents and 6.9 cents per
share or between 9.2% to 14.5% lower than that for the six months ended
31 August 2009;
- headline earnings will be between 17.4 cents and 17.8 cents per share or
between 39.7% to 41% lower than that for the six months ended 31 August
2009; and
- attributable earnings will be between 11.8 cents and 12.2 cents per
share or between 44.8% to 46.6% lower than that for the six months ended
31 August 2009.
Both headline and attributable earnings per share were negatively affected by
a performance fee provision of R46.2 million payable to PSG Corporate
Services (Pty) Ltd, a wholly-owned subsidiary of PSG Group Ltd, in terms of
the existing management agreement. The performance fee calculation is based
on the appreciation of Paladin`s share price, with the first measurement date
on 28 February 2011. Management has decided to be prudent and calculated the
provision as if the measurement date had been 31 August 2010, using Paladin`s
30-day volume weighted average price of R2.33 per share as at that date.
Attributable earnings per share was further affected by net impairment write
downs of certain of Paladin`s investments in associated companies.
This financial information has not been reviewed or reported on by the
auditors of Paladin. The results for the six months ended 31 August 2010 will
be published on or about 6 October 2010.
Stellenbosch
5 October 2010
Questco Sponsors (Pty) Limited
Designated advisor to Paladin Capital Limited
Date: 05/10/2010 17:41:01 Produced by the JSE SENS Department.
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