QPG - Quantum Property Group Limited - Trading statement
QPG
QPG
QPG - Quantum Property Group Limited - Trading statement
QUANTUM PROPERTY GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number 1984/002788/06)
Share code: QPG ISIN: ZAE000125647
("QPG" or "the company")
TRADING STATEMENT
In terms of the Listings Requirements of JSE Limited, companies are required to
publish a trading statement as soon as they become reasonably certain that the
financial results for the period to be reported on will differ by more than 20%
from the previous corresponding period.
In order to determine the fair value for the 15 on Orange property, the new
board of directors conducted a valuation based on current market conditions and
extensive market research. The expertise of independent professionals was relied
upon to arrive at a R226 million fair value adjustment of investment property
and a R3 million write-down of inventory.
Primarily as a result of the revaluation of the abovementioned property, QPG
expects a loss of R225.3 million which translates into a loss per share of 147
cents and a headline loss per share of 39 cents compared to the basic and
headline loss per share of 19 cents for the year ended 31 August 2010.
The financial information on which this trading statement is based has not been
reviewed or reported on by the company`s auditors.
QPG`s financial results are expected to be released on SENS on or about 30
November 2011.
Johannesburg
28 November 2011
Designated Advisor
Merchantec Capital
Date: 28/11/2011 17:30:01 Produced by the JSE SENS Department.
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