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SEP
SEP
SEP - Sephaku Holdings - Trading statement for the year ended 30 June 2011
Sephaku Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/003306/06)
Share code: SEP
ISIN: ZAE000138459
("Sephaku Holdings" or "the Company" or "the Group")
Trading Statement For The Year Ended 30 June 2011
In accordance with paragraph 3.4(b) of the JSE Limited Listings
Requirements, companies are required to publish a trading statement as soon
as they become reasonably certain that the financial results for the
reporting period will differ by more than 20% from that of the previous
corresponding period.
As per the SENS announcement, dated 28 August 2009, the Company has adopted
the net asset value per share ("NAVPS") measure for trading statements. The
NAVPS measure for trading statement purposes is considered a more relevant
yardstick of the performance of the Group than headline earnings per share
and earnings per share.
Shareholders of Sephaku are advised that the Company is expecting an
increase in NAVPS of between 60% and 80% compared to the NAVPS at 30 June
2010. Shareholders are also referred to the trading statement dated 9 March
2011 relating to interim period ended 31 December 2010.
The increase in NAVPS is mainly attributable to the corporate actions
undertaken by the Company during 2010, namely, the issue of shares for cash
by Sephaku Cement (Pty) Limited to Dangote Industries Limited in order to
settle a loan of R75.6 million and the subscription of shares in an amount
of R703.4 million, and the payment to shareholders by way a dividend in
specie of one ordinary share in Incubex Minerals Limited for every ten
Sephaku Holdings shares held.
Shareholders are referred to the circular issued on 30 September 2010 and
the pro forma effects on page 93 of the circular, and the SENS announcements
dated, 25 August 2010 and 30 September 2010.
The results for the year ended 30 June 2011 will be published towards the
end of September 2011.
This trading statement has not been reviewed or reported on by the Group`s
external auditors.
20 September 2011
Pretoria
Sponsor to Sephaku Holdings
QuestCo Sponsors (Pty) Limited
Date: 20/09/2011 15:00:01 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.
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