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CLR CLRP
CLR
CLR/CLRP - Clover Industries Limited - Restatement of diluted earnings per
share and diluted headline earnings per share.
CLOVER INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/030429/06)
Ordinary Share code: CLR
ISIN: ZAE000152377
Preference Share Code: CLRP
ISIN: ZAE000152385
("Clover Industries" or "the Company")
RESTATEMENT OF DILUTED EARNINGS PER SHARE AND DILUTED HEADLINE EARNINGS PER
SHARE FOR THE UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED
31 DECEMBER 2010, PUBLISHED ON 14 MARCH 2011
It has come to the attention of the Company that the diluted earnings per
share as disclosed in the interim financial statements for the period
ending 31 December 2010 was incorrectly calculated. The diluted earnings
and diluted headline earnings per share did not take into consideration the
dilutive effect of the Share Appreciation Rights Plan ("SARs Plan"). The
weighted average number of shares used in the calculation of diluted
earnings and diluted headline earnings per shares should have been 139 703
240 ordinary shares instead of 129 064 377 ordinary shares, taking into
consideration the potential dilutive effect of the SARs Plan of 10 638 863
ordinary shares. Taking the above dilutive effect into consideration the
diluted earnings and diluted headline earnings per share for the six months
ended 31 December 2010 should have been as follow;
As per published Restated
interim financial
statements
Diluted EPS from 75.0 69.2
continuing operations
(Cents per share)
Diluted EPS (Cents per 75.0 69.2
share)
Diluted HEPS from 72.8 67.3
continuing operations
(Cents per share)
Diluted HEPS (Cents per 72.8 67.3
share)
The diluted earnings and diluted headline earnings per share in the audited
consolidated financial statements for the financial year ending 30 June
2011, published on 19 September 2011, and set out below are correct:
As per published audited annual
financial statements for the year
ended 30 June 2011
Diluted EPS from continuing 108.9
operations (Cents per share)
Diluted EPS (Cents per share) 108.9
Diluted HEPS from continuing 106.2
operations (Cents per share)
Diluted HEPS (Cents per share) 106.2
Johannesburg
3 October 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 03/10/2011 16:00:01 Produced by the JSE SENS Department.
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