| Thu 12 May 2011, 16:00 | | ERB - Erbacon - Revised trading statement |
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ERB
ERB
ERB - Erbacon - Revised 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")
REVISED 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.
Further to the trading statement published on SENS on 11 March 2011, the board
wishes to revise its prior trading statement. The board has obtained a
reasonable degree of certainty that the Group will now report a basic loss per
share of between 33 cents per share and 36 cents per share, and a headline
loss per share of between 32 cents per share and 35 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 34,2% in the weighted
average number of ordinary shares in issue at 28 February 2011 to 193,494,218
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 financial results for the year ended 28 February 2011 will be announced on
or about 16 May 2011.
Shareholders were advised on SENS on 25 February 2011 and 12 April 2011
(renewal) 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.
12 May 2011
Designated adviser:
PSG Capital (Pty) Limited
Date: 12/05/2011 16:00:01 Produced by the JSE SENS Department.
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