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SEP
SEP
SEP - Sephaku Holdings - Trading Statement for the Six Months Ended 31 December
2010
Sephaku Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/003306/06)
Share code: SEP
ISIN: ZAE000138459
("Sephaku Holdings" or "the Company" or "the Group")
Trading Statement For The Six Months Ended 31 December 2010
In accordance with paragraph 3.4(b)of the JSE Limited Listings Requirements,
companies are required to publish a trading statement as soon as they become
reasonably certain that the financial results for the reporting period will
differ by more than 20% from that of the previous corresponding period.
As per the SENS announcement, dated 28 August 2009, the Company has adopted the
net asset value per share ("NAVPS") measure for trading statements. The NAVPS
measure for trading statement purposes is considered a more relevant yardstick
of the performance of the Group than headline earnings per share and earnings
per share.
Due to the change in the Company`s year end from 28 February to 30 June, as
decided at the shareholders meeting held on 29 January 2009, the NAVPS for the
six months ended 31 December 2010 has been compared to the NAVPS for the Company
at 28 February 2010.
Shareholders of Sephaku are advised that the Company is expecting an increase in
NAVPS of between 40% and 50% compared to the NAVPS at 28 February 2010.
The increase in NAVPS is mainly attributable to the corporate actions undertaken
by the Company during 2010, namely, the issue of shares for cash by Sephaku
Cement (Pty) Limited to Dangote Industries Limited in order to settle a loan of
R75.6 million and the subscription of shares in an amount of R703.4 million, and
the payment to shareholders by way a dividend in specie of one ordinary share in
Incubex Minerals Limited for every ten Sephaku Holdings shares held.
Shareholders are referred to the circular issued on 30 September 2010 and the
pro forma effects on page 93 of the circular, and the SENS announcements dated,
25 August 2010 and 30 September 2010.
The results for the six months ended 31 December 2010 will be published towards
the end of March 2011.
This trading statement has not been reviewed or reported on by the Group`s
external auditors.
09 March 2011
Pretoria
Sponsor to Sephaku Holdings
QuestCo Sponsors (Pty) Limited
Date: 09/03/2011 16:00:02 Produced by the JSE SENS Department.
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JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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