CLR CLRP
CLR
CLR / CLRP - Clover Industries Limited - Trading statement
CLOVER INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/030429/06)
JSE Ordinary share code: CLR ISIN: ZAE000152377
JSE Preference share code: CLRP ISIN: ZAE000152385
("Clover Industries" or "the Company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, companies are obliged
to provide guidance to the market when they are satisfied that a reasonable
degree of certainty exists that the financial results for a reporting period
will differ by at least 20% from the results of the previous corresponding
reporting period.
Accordingly, shareholders are advised that headline earnings per ordinary share
("HEPS") for the six months ended 31 December 2010 is expected to be between
73.11 and 73.29 cents (2009: HEPS 0.9 cents) and the Earnings per ordinary share
("EPS") for the same period is expected to be between 75.1 cents and 75.5 cents
(2009: EPS 2 cents).
It should be noted that during the six months to 31 December 2009 the preference
shares were entitled to 97% of ordinary dividends declared. EPS calculations are
based on the dividend rights attached to the different classes of shares and
accordingly 97% of the earnings during the comparative period accrued to the
preference shares. Following the capital restructuring on 31 May 2010 the
preference shares are no longer entitled to share in ordinary dividends leading
to the very significant increases in both basic EPS and HEPS for ordinary
shares. The weighted average number of ordinary shares used to calculate the 31
December 2009 EPS and HEPS were adjusted to take into consideration the 2 for 1
subdivision of the ordinary shares effective the 4th of November 2010.
It is anticipated that Clover Industries will release its interim results on
SENS on or about 14 March 2011.
Shareholders are advised that the financial information on which this trading
statement is based has not been reviewed and reported on by the Company`s
external auditors.
Johannesburg
18 February 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 18/02/2011 09:00:02 Produced by the JSE SENS Department.
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