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RMH
RMH
RMH - RMB Holdings Limited - Trading statement: Financial year ended 30
June 2011
RMB HOLDINGS LIMITED
(Incorporated in South Africa)
Registration number: 1987/005115/06
ISIN: ZAE000024501
JSE Ordinary Share Code: RMH
("RMBH" or "the Company")
TRADING STATEMENT: FINANCIAL YEAR ENDED 30 JUNE 2011
Shareholders were previously advised that:
* The Company`s associate, FirstRand Limited ("FirstRand") has unbundled
its interest in MMI Holdings Limited ("MMI") to shareholders as a
dividend in specie;
* RMBH has unbundled its interest in Rand Merchant Insurance Holdings
Limited ("RMI Holdings") to shareholders as a dividend in specie; and
that
* FirstRand has disposed of its 45% share in OUTsurance Holdings Limited
(the "investment"), resulting in a significant gain on sale arising in
its accounts.
Shareholders are advised that:
* The receipt by RMBH of MMI shares unbundled by FirstRand gives rise to
once-off negative goodwill in the Company.
* The RMI Holdings unbundling, which, in terms of "IFRIC 17:
Distributions of Non-Cash Assets to Owners" is accounted for at fair
value, gives rise to a significant non-recurring gain in the Company.
* Similarly, the gain on the sale of the investment by FirstRand also
gives rise to a significant non-recurring gain in the Company.
All these gains impacts RMBH`s basic earnings per share.
In compliance with the Listing Requirements of the JSE Limited,
shareholders are advised that RMBH`s basic earnings per share for the year
ended 30 June 2011 is expected to be between 870 cents and 930 cents per
share (2010: 300.8 cents).
As the gains did not arise from the performance of the RMBH`s ongoing
operations, they do not impact either headline earnings per share (2010:
299.8 cents) or normalised earnings per share (2010: 295.0 cents) for the
year.
The financial information on which this trading statement is based has not
been reviewed and reported on by the Company`s independent auditors.
Details of RMBH`s results for the financial year ending on 30 June 2011 are
expected to be released on SENS and published in the press on or about 14
September 2011.
Sandton
9 September 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 09/09/2011 11:24:01 Produced by the JSE SENS Department.
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