| Fri 11 Mar 2011, 17:45 | | ERB - Erbacon - Trading Statement |
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ERB
ERB
ERB - Erbacon - Trading Statement
ERBACON INVESTMENT HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2007/014490/06)
Share Code: ERB ISIN: ZAE000111571
("Erbacon" or "the Company" or "the Group")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, a listed company is
required to publish a trading statement as soon as it becomes reasonably certain
that the financial results for the next period to be reported on will show a 20%
or more difference from those of the previous corresponding period.
In terms of the `Further Trading Statement` published on SENS on 18 October
2010, and the subsequent release of the unaudited condensed interim results for
the period ended 31 August 2010, shareholders were advised that management
anticipated that construction activity in the second half of the year would
prove more beneficial to Erbacon than the first half year.
Further to the aforementioned trading statement, the board has established
reasonable certainty that the Group will report a basic loss per share of
between 21,75 cents per share and 30,8 cents per share, and a headline loss per
share of between 19,3 cents per share and 28,3 cents per share, respectively for
the financial year ended 28 February 2011 compared to basic and headline
earnings per share of 45,33 cents per share and 45,1 cents per share
respectively for the prior corresponding period.
Included in the calculations above is an increase of 33.8% in the weighted
average number of ordinary shares in issue at 28 February 2011 to 192,959,500
ordinary shares (2010: 144,151,421 ordinary shares).
The financial information on which this trading statement is based has not been
reviewed or reported on by the Company`s auditors.
The results for the financial year ended 28 February 2011 will be announced in
due course.
Shareholders were advised via SENS on 25 February 2011 that Erbacon had entered
into preliminary negotiations relating to a possible acquisition by the Company.
Accordingly, shareholders are advised to continue to exercise caution when
dealing in the Company`s securities until a further announcement is made.
11 March 2011
Designated adviser:
PSG Capital (Pty) Limited
Date: 11/03/2011 17:45:01 Produced by the JSE SENS Department.
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