| Thu 24 Mar 2011, 12:38 | | AND - Andulela - Trading Statement |
|
AND
AND
AND - Andulela - Trading Statement
ANDULELA INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1950/037061/06)
Share code: AND ISIN code: ZAE000125894
("Andulela" or "the company")
TRADING STATEMENT
Andulela`s financial results for the eighteen months ended 31 December 2010 are
expected to be released by no later than 31 March 2011.
In compliance with the Listing Requirements of the JSE Limited and in respect of
the eighteen months ended 31 December 2010, compared to the previous twelve
months ended 30 June 2009 ("previous corresponding period"), because of the
change in financial year end during 2010 from 30 June to 31 December,
shareholders are accordingly advised that:
The company expects a loss for the eighteen months ended 31 December 2010 of
between 6.0 cents and 8.0 cents per share and a headline loss of between 0.45
and 0.6 cents per share, compared to a loss and headline loss of 85.16 and 1.82
cents per share respectively for the audited results of the previous
corresponding period.
During the period under review, Andulela completed the put option transaction
previously reported on SENS and in terms of which it acquired a controlling
interest in Abalengani Mining Investments (Pty) Ltd ("AMI"), JB Platinum
Holdings (Pty) Ltd ("JBPH") and Kilken Platinum (Pty) Ltd ("Kilken"). The
business combination has contributed to the improved performance of Andulela for
the period under review and AMI, JBPH and Kilken have been consolidated into the
results of Andulela from 1 May 2010. The purchase consideration in respect of
the options exercised, being an aggregate of R425 million, was settled by the
issue and allotment of 3,531,660,296 ordinary shares. This resulted in the
weighted average number of ordinary shares in issue as at 31 December 2010 being
2,790 million compared to 338 million ordinary shares in issue as at 30 June
2009 being the principal factor resulting in the movement in loss and headline
loss as detailed above.
The financial information on which this trading statement is based, has not been
audited or reviewed by the company`s auditors.
24 March 2011
Sponsor
Investec Bank Limited
Date: 24/03/2011 12:38:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
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.
