ABK
ABK
ABK - African Brick - Trading Update
AFRICAN BRICK CENTRE LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 1999/006214/06)
Share Code: ABK ISIN: ZAE000105169
("African Brick" or "the Company")
TRADING UPDATE
In accordance with paragraph 3.4 of the Listings Requirements of the JSE Limited
("JSE), a listed company is required to publish a trading statement as soon as
it becomes aware, with a reasonable degree of certainty, that the financial
results for the next period to be reported on are likely to vary by more than
20% from the previous corresponding period.
African Brick`s loss per share ("LPS") for the financial year ended 28 February
2011 ("the 2011 financial year") is expected to be between 2.0 cents and
2.2cents compared to 4.9 cents as reported in the previous corresponding period.
Headline loss per share ("HLPS") for the 2011 financial year is expected to be
between 1.5 cents and 1.7 cents compared to 3.8 cents reported in the previous
corresponding period.
Shareholders are referred to the rights offer completed in September 2010. As
per IAS 33, the LPS and HLPS for the financial year ended 28 February 2010 ("the
2010 financial year") have been restated by an adjustment factor reflecting the
difference between the market price and rights offer exercise price per share.
Consequently, for the 2010 financial year, the restated LPS is 3.82 cents and
HLPS is 2.95 cents.
It is anticipated that the financial results for the year ended 28 February 2011
will be published on or about 31 May 2011.
The financial information on which this trading update is based has not been
reviewed or reported on by the company`s auditors.
Johannesburg
27 May 2011
Designated Adviser
Grindrod Bank Limited
Date: 27/05/2011 15:39:01 Produced by the JSE SENS Department.
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