MMH - Miranda Mineral Holdings Limited - Trading Statement
MMH
MMH
MMH - Miranda Mineral Holdings Limited - Trading Statement
Miranda Mineral Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/001940/06)
Share code: MMH ISIN: ZAE000074019
("Miranda" or "the Company")
TRADING STATEMENT
Miranda is in the process of finalising its financial results for the six
months ended 29 February 2012 and wishes to advise shareholders that when
compared to the previously published reviewed interim results for February 2011,
Net Asset Value per share for the six month period ending 29 February 2012
decreased from 120.3 cents per share ("cps") at 28 February 2011 to between
(3.0) cps and (1.0) cps, and Net Tangible Asset Value decreased from 0.9 cps at
28 February 2011 to between (15.0) and (12.0) cps.
The main reason for the decrease is as a result of the derecognition of the
Rozynenbosch asset from the Group`s intangible assets as disclosed in the
Group`s latest Annual Financial Statements for the year ended 31 August 2011
which would have had the effect of reducing the net asset value of the Group`s
previously published interim results by approximately R284 million, equivalent
to a decline of 100 cps, from 120.3 to 20.3 cps.
We confirm that the financial information on which this trading statement is
based has not been reviewed and reported on by the Group`s auditors and the
reviewed results for the six month period ended 29 February 2012 are expected to
be released shortly.
Centurion
24 May 2012
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 24/05/2012 14:16:01 Produced by the JSE SENS Department.
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