NEW FRONTIER PROPERTIES LIMITED - Trading update and cautionary announcement
NFP 201811080029A
Trading update and cautionary announcement
NEW FRONTIER PROPERTIES LTD
(Incorporated in the Republic of Mauritius on 5 June 2014)
(Registration number 123368C1/GBL)
SEM share code: NFP.N000
JSE share code: NFP
ISIN: MU0453N00004
("New Frontier" or the "company")
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
As indicated in the company's results for the 9 months ended 31 May 2018, the company continues to operate in a
challenging retail environment, caused in part by a weaker sterling due to the uncertainty caused by the vote to leave
the European Union, a fall in consumer confidence, increased costs and declining national footfall, impacted by a shift
in consumer shopping habits.
The external valuations for New Frontier's property portfolio are still in the process of being finalised. However, due
to the previously indicated fall in income following a number of Company Voluntary Arrangements (CVAs) taking
place, it is anticipated that the aggregate external valuation of New Frontier's property portfolio may decline materially.
Given the challenging retail environment in which the company is operating and anticipated decline in value of New
Frontier's property portfolio, the directors of New Frontier do not intend declaring a distribution for the year ended
31 August 2018.
New Frontier's results for the year ended 31 August 2018 will be published once the external valuations for New
Frontier's property portfolio and audit process have been finalised. It is anticipated that New Frontier's results will be
published no later than 30 November 2018.
Shareholders are advised to exercise caution when dealing in the company's securities until a further announcement is
made.
New Frontier holds primary listings on the SEM and the Alternative Exchange of the JSE.
8 November 2018
This notice is issued pursuant to SEM Listing Rules 11.3. The board of directors of New Frontier Properties Ltd accepts
full responsibility for the accuracy of the information in this notice.
For further information, please contact:
JSE sponsor
Java Capital +27 11 722 3050
Company secretary
Osiris Corporate Solutions (Mauritius) Ltd +230 650 4030
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