| Tue 8 May 2018, 13:08 | | TRENCOR LIMITED - Net asset value (NAV) of Trencor |
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TRE 201805080030A
Net asset value (“NAV”) of Trencor
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
NET ASSET VALUE ("NAV") OF TRENCOR
Based on the relevant spot exchange rates and the listed share prices of Textainer Group
Holdings Limited (NYSE: TGH) ("Textainer"), the NAV of Trencor at these dates were as
follows:
31 December 2017 30 September 2017
Textainer share price US$21,70 US$17,15
Spot exchange rate US$1 equals R12,37 R13,52
R per R per
Trencor Trencor
R million share R million share
Beneficiary interest in Textainer 7 323 41,35 6 325 35,72
Beneficiary interest in TAC Limited
(“TAC”) (US GAAP NAV) 1 004 5,67 1 095 6,18
Cash (excluding in Textainer and
TAC) 1 095 6,19 1 235 6,98
Other net assets (refer to note below) 195 1,10 245 1,38
Total NAV 9 617 54,31 8 900 50,26
Note: All numbers at 31 December 2017 are actuals with the exception of the provisional R195
million described as "Other net assets". Included in this number is the IFRS adjustment
required to convert the results of TAC from US GAAP into IFRS. Any change to this
provisional number is expected to be immaterial.
These numbers have been prepared by management and are unaudited.
Trencor Services (Pty) Ltd
Secretaries
8 May 2018
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
www.trencor.net
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