RBP - Royal Bafokeng Platinum Limited - Trading Statement for the financial year
RBP
RBP
RBP - Royal Bafokeng Platinum Limited - Trading Statement for the financial year
ended 31 December 2010
ROYAL BAFOKENG PLATINUM LIMITED
(formerly Royal Bafokeng Platinum (Proprietary) Limited
and formerly Lisinfo 223 (Proprietary) Limited and
formerly Lisinfo 223 Property (Proprietary) Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2008/015696/06)
JSE share code: RBP ISIN: ZAE000149936
("RBPLAT" or "the company" or "the Group")
TRADING STATEMENT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2010
RBPLAT is in the process of finalising its annual financial results for the year
ended 31 December 2010 and, based on the latest estimate of results for that
period. RBPLAT hereby advises shareholders that earnings per share for the year
ended 31 December 2010 are expected to increase to between 2197 cents and 2268
cents from the loss per share of 1072 cents for the year ended 31 December 2009.
Consolidated headline earnings per share ("HEPS") for the Group for the year
ended 31 December 2010 are expected to increase to between 186 cents and 215
cents from the headline loss per share of 1072 cents for the year ended 31
December 2009. In evaluating this HEPS increase, shareholders should bear in
mind that the company had issued a substantial amount of ordinary shares in
December 2009 (137 million ordinary shares) following the restructuring of
Bafokeng Rasimone Platinum Mine ("BRPM") whereby the company assumed operational
control in January 2010. In November 2010 a further 26.6 million shares were
issued, attributable to the Initial Public Offering and listing of the company`s
entire issued share capital on the JSE Limited. The results were also impacted
by a change in the accounting treatment of the Group`s investment in BRPM from
proportionate consolidation up to listing, to full consolidation after listing
due to the change of control of BRPM.
RBPLAT expects to release its financial results on or about 8 March 2011.
The information above has not been reviewed and reported on by the Group`s
external auditors.
Johannesburg
4 February 2011
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 04/02/2011 15:17:01 Produced by the JSE SENS Department.
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