RMH - RMB Holdings Limited - Trading statement: six months ended 31 December
RMH
RMH
RMH - RMB Holdings Limited - Trading statement: six months ended 31 December
2010
RMB HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1987/005115/06)
ISIN: ZAE000024501
JSE Ordinary Share Code: RMH
("RMBH" or the "Company")
TRADING STATEMENT: SIX MONTHS ENDED 31 DECEMBER 2010
During the interim reporting period ended 31 December 2010, the Company`s
associate, FirstRand Limited distributed its interest in MMI Holdings Limited
("MMI") to shareholders as a dividend in specie. This resulted in MMI becoming
a directly held associate of RMBH. In addition, another RMBH associate,
Discovery Holdings Limited concluded a business combination whereby it acquired
the Standard Life Healthcare group and merged that with the PruHealth Group
(Discovery`s UK based joint venture).
Accounting for these transactions in conformity with International Financial
Reporting Standards gives rise to significant non-recurring gains in the RMBH
accounts. While such gains did not arise from the performance of RMBH`s ongoing
operations and are accordingly excluded from headline earnings per share (as
well as normalised earnings per share), they do impact basic earnings per share.
In compliance with the Listing Requirements of the JSE Limited, RMBH
shareholders are advised that basic earnings per share ("EPS") for the six
months ended 31 December 2010 will increase by between 100% and 120% over the
EPS of the previous corresponding reporting period.
RMBH`s interim results for the six months ended 31 December 2010 will be
released on SENS on or about 9 March 2011.
The forecast financial information on which this trading statement is based has
not been reviewed or reported on by the Company`s external auditors.
Sandton
3 March 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 03/03/2011 07:05:01 Produced by the JSE SENS Department.
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