CMO
CMO
CMO - Chrometco Limited - Trading statement
Chrometco Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/026265/06)
Share code: CMO ISIN: ZAE00007020249
("Chrometco" or "the company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited relating to
Trading Statements, a listed company is required to publish a Trading
Statement as soon as it becomes aware that the financial results for the
next period to be reported on will differ by at least 20% or more from
those of the previous corresponding period.
Shareholders are advised that the company expects that, for the six months
ended 31 August 2011:
-loss per share ("LPS") will be between 5.00 cents and 5.50 cents
compared to the prior period LPS of 2.03 cents
-headline loss per share ("HLPS") will be between 5.00 cents and 5.50
cents compared to HLPS of 2.04 cents in the previous corresponding
period.
The increase in LPS and HLPS is due to the measurement of deferred taxation
liabilities relating to the Rooderand proceeds (received to date under the
mining and management agreement with DCM Chrome) at normal tax rates. Prior
to the outcome of the general meeting of shareholders in May of this year,
these deferred taxation liabilities were previously measured at capital
gains tax rates.
The financial information on which this trading statement is based has not
been reviewed or reported upon by Chrometco`s auditors. The company`s
results for the six month period ended 31 August 2011 are expected to be
published on or about 29 November 2011.
25 November 2011
Designated Advisor
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 25/11/2011 15:53:31 Produced by the JSE SENS Department.
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