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REM
REM
REM - Remgro Limited - Trading statement
Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
Share code: REM
("Remgro" or "the Company")
TRADING STATEMENT
As previously communicated to shareholders the financial year-end of the
Company was changed from 31 March to 30 June. The rationale for the
change was to comply with the revised International Auditing Standard
600, as fully set out in the announcement released on SENS on 16 March
2011. As a result of the change in year-end and in order to comply with
the Listings Requirements of the JSE Limited ("JSE Listings
Requirements") Remgro published a second set of interim results to
shareholders for the twelve month period ended 31 March 2011 during June
2011.
Remgro is currently finalising its audited financial results for the
fifteen months ended 30 June 2011, which is due to be released on SENS on
or about 20 September 2011. Paragraph 3.4 (b) of the JSE Listings
Requirements requires companies to publish a trading statement as soon as
they become reasonably certain that the financial results for the period
to be reported upon next will differ by at least 20% from that of the
previous corresponding period.
In compliance with the JSE Listings Requirements, shareholders are
advised that Remgro`s reported headline earnings per share ("HEPS") for
the fifteen months ended 30 June 2011 is expected to be at least 20%
higher than the HEPS of the comparative twelve months ended 31 March
2010. This increase in HEPS is mainly due to the extension of the
financial reporting period by three months.
As Remgro is still awaiting the results of certain investee companies, it
is not possible to quantify with reasonable certainty the extent of its
results for the fifteen months ended 30 June 2011 within the 20% range
required by the JSE Listings Requirements at this stage. A further
trading statement will be released on SENS as soon as there is more
certainty in this regard.
The financial information on which this trading statement is based has
not been reviewed and reported on by the Company`s auditors.
Stellenbosch
28 July 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 28/07/2011 17:05:01 Produced by the JSE SENS Department.
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