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IPL
IPL
IPL - Imperial Holdings Limited - Trading statement and comment on the Lereko
BEE Transaction
Imperial Holdings Limited
Registration number: 1946/021048/06
JSE share code: IPL
ISIN: ZAE000067211
("Imperial" or "the group")
TRADING STATEMENT AND COMMENT ON THE LEREKO BEE TRANSACTION
This trading statement is published in compliance with Rule 3.4(b) of the JSE
Listings Requirements.
Imperial is pleased to provide the following guidance regarding the range of
the expected increase in headline earnings per share ("HEPS") and earnings
per share ("EPS") for the half year ending on 31 December 2010:
TOTAL Half year ended December Half year ending December
2009 2010
HEPS 503 cents 25% to 45%
EPS 523 cents 20% to 40%
Operating profit is expected to be between 30% and 50% higher than the R1
441m in the comparative period in 2009.
The financial information, on which the trading statement is based, has not
been reviewed or reported on by Imperial`s auditors. This update is based on
available information at the time of publication. Imperial`s interim results
are expected to be released on SENS on or about 23 February 2011.
LEREKO MOBILITY BEE TRANSACTION
The third party funders of Lereko, being debenture holders and preference
shareholders, were settled on 1 October 2010 from the proceeds of the sale of
8.6 million converted Imperial ordinary shares by Lereko. Lereko continues to
hold 5.9 million Imperial ordinary shares, which will be accounted for by
Imperial as treasury stock.
Earnings of approximately 148 cps (R280 million) from a final revaluation
gain of a financial instrument relating to the Lereko BEE transaction will be
included in HEPS and EPS for the half year to December 2010 and has been
taken into account in the calculation of the growth rates stated above.
RA Venter
Company Secretary
Bedfordview
10 November 2010
Sponsor to Imperial
MERRILL LYNCH SOUTH AFRICA (PTY) LIMITED
Date: 10/11/2010 17:05:01 Produced by the JSE SENS Department.
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