| Wed 22 Feb 2012, 8:00 | | MPT - Mpact - Trading Statement |
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MPT
MPT
MPT - Mpact - Trading Statement
Mpact Limited
(Incorporated in the Republic of South Africa)
(Registration number 2004/025229/06)
JSE share code: MPT ISIN: ZAE000156501
("Mpact" or "the Company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited ("JSE"), companies are
required to publish a trading statement as soon as they become reasonably
certain that the financial results for a reporting period will differ by at
least 20% from the results of the previous corresponding reporting period.
Mpact successfully listed as a public company on the main board of the
securities exchange operated by the JSE on 11 July 2011, following a demerger
from Mondi Limited. This event gave rise to special items of cost that will not
recur. These include listing costs and the costs of restructuring debt. In order
to reflect the earnings effect of these special items, the directors of Mpact
have elected to provide an additional measure of underlying earnings per share.
In terms of a special resolution passed on 28 April 2011 the number of ordinary
shares in issue was increased from 159,950 ordinary shares to 23,192,750
ordinary shares following a share split.
Furthermore, on 5 July 2011 an additional 140,853,726 ordinary shares were
issued to the then shareholders as part of Mpact`s capital restructuring prior
to listing. Consequently the Company listed on 11 July 2011 with 164,046,476
ordinary shares.
On the basis of 164,046,476 issued ordinary shares, shareholders are advised
that Mpact expects earnings per share ("EPS"), headline earnings per share
("HEPS")and underlying EPS for the year ended 31 December 2011 to be within the
ranges shown below:
Basic EPS (cents) 52.0 to 56.0 (2010: 22.4)
Basic HEPS (cents) 52.0 to 56.0 (2010: 23.1)
Underlying EPS (cents) 100.0 to 104.0 (2010: 24.3)
The increase in EPS over the prior year is due primarily to lower finance costs
attributable to the recapitalisation of the Company prior to listing.
Basic HEPS has been calculated in accordance with Circular 3/2009 as issued by
the South African Institute of Chartered Accountants.
It is anticipated that Mpact will release its results for the year ended 31
December 2011 on SENS on or about 8 March 2012.
Shareholders are advised that the financial information on which this trading
statement is based has not been reviewed and reported on by the Company`s
external auditors.
Melrose Arch
22 February 2012
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 22/02/2012 08:00:02 Produced by the JSE SENS Department.
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