AFRICAN DAWN CAPITAL LIMITED - Trading statement and cautionary announcement
ADW 201411250053A
Trading statement and cautionary announcement
AFRICAN DAWN CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/020520/06)
Share code: ADW
ISIN Code: ZAE000060703
(?Afdawn? or ?the Company?)
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, a
listed company is required to publish a trading statement as
soon as it becomes aware that the financial results for the
financial period to be reported on next will vary by 20% or
more from those of the previous comparable period.
Shareholders are hereby advised that a reasonable degree of
certainty exists that for the six month period ended 31 August
2014, the Company will report a basic loss per share of
between 1.23 cents and 1.39 cents, being an increase of
between 52% and 72%, and a headline loss per share of between
1.69 cents and 1.84 cents, being a increase of between 125%
and 145%, as opposed to basic loss per share of 0.81 cents and
headline loss per share of 0.75 cents published for the
previous corresponding period.
The increase in both basic loss per share and headline loss
per share can mostly be attributed to a more prudent
provisioning policy in the Elite Group given market conditions
in micro finance.
The financial information on which this trading statement is
based has not been reviewed and reported on by the Company?s
auditor. The financial results for the six months ended 31
August 2014 are expected to be published on or about 28
November 2014.
CAUTIONARY ANNOUNCEMENT
Shareholders are hereby advised that Afdawn received
communication from South African Revenue Services (?SARS?)
regarding settlement of tax obligations in terms of Section
200 of the Income Tax Act. The SARS liability has been fully
provided for in our accounts. Final agreements are currently
being drawn up, which if successfully concluded may have a
material positive effect on the price of the Company?s
securities. Accordingly, shareholders are advised to continue
exercising caution when dealing in the Company?s securities
until a full announcement is made.
25 November 2014
Johannesburg
Designated Advisor
PSG Capital
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