PMV - Primeserv Group Limited - Notice of prior year adjustment and voluntary
PMV
PMV
PMV - Primeserv Group Limited - Notice of prior year adjustment and voluntary
trading update
Primeserv Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/013448/06)
("Primeserv" or "the Company")
Share Code: PMV ISIN: ZAE000039277
NOTICE OF PRIOR YEAR ADJUSTMENT AND VOLUNTARY TRADING UPDATE
In terms of the JSE Limited Listings Requirements, companies are required to
publish an announcement of any information which may have a material effect on
the financial results of the company and its material subsidiaries to holders
of the company`s securities, and the public to avoid the creation of a false
market in its listed securities.
The Company wishes to advise that it has discovered an error in its accounting
records which require a prior year adjustment to its results. The adjustment
in relation to results for the 15 month period ended 31 March 2011 is a
reduction in profit after tax in the amount of R1,1 million (one comma one
million Rand). The adjustment gives rise to a reduction of earnings per share
and headline earnings per share to 8.05 and 7.97 cents per share respectively.
As a further result of the above, Primeserv shareholders are advised that
Primeserv`s Headline and Basic Earnings per share for the 12 month period
ended 31 March 2012 will be between 12% and 15% below the Headline and Basic
Earnings per share for the prior 15 month reported period ended 31 March 2011.
Primeserv`s Headline and Basic Earnings per share for the 12 months ended 31
March 2012 will be between 1% and 4% below the restated Headline and Basic
Earnings per share for the 15 months ended 31 March 2011.
The Company anticipates that its results for the financial year ended 31 March
2012 will be released on SENS by no later than 29 June 2012.
The above information has not been reviewed or reported on by the Company`s
auditors.
Bryanston
28 June 2012
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Registration number 1996/000034/07)
Date: 28/06/2012 07:05:03 Produced by the JSE SENS Department.
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