|
OMNIA HOLDINGS LIMITED - INFORMATION RELEASE
OMNIA HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/003680/06)
Share Code: OMN
ISIN Code: ZAE000005153
("Omnia" or the "Company")
INFORMATION RELEASE
Despite the turndown in world markets the outlook for the markets in which the
Omnia Group does business looks bright. The shortage of grain products in
Southern Africa coupled with higher agricultural prices is expected to lead to
increased maize plantings in South Africa with the resulting increase in
fertilizer demand. Demand for the Group`s Speciality Fertilizer products and
services continue to gain momentum. Our approach to improving the bottom line
profitability of our farming clients by leveraging our intellectual capital and
technology is proving its worth particularly in a world of increasing
volatility.
The outlook for mining explosives also looks positive with the development of
new mines and in particular the growth within the platinum sector together with
an improving gold price. The chemicals business is also showing pleasing growth
with increased sales into the animal feeds sector.
The board advises that a material increase in Group earnings relative to the
previous year`s comparable six month period is expected for this six month
period ending 30 September 2002. Although weather patterns are particularly
unstable and unpredictable at the moment, it is expected that the improvement
achieved in the six months to September 2002 will have a positive impact on the
full year earnings ending March 2003.
The sale of Alpha`s 34,5% equity stake in Omnia was successfully concluded in
July 2002. An analysis of the trading in Omnia shares subsequent to the release
of our annual results for the period ending 31 March 2002 shows a remarkable
improvement in the trading turnover with some 4,6m shares or 11% of the
company`s shares changing hands between 12 June 2002 and 17 September 2002. An
analysis of the Company`s shareholders also shows that one of the primary
objectives, namely to increase liquidity in the Omnia shares by selling Alpha`s
34,5% equity stake, has been met in that the number of public shareholders as
interpreted by the JSE Securities Exchange South Africa increased from 20,80% at
the end of March 2002 to 54,01% at the end of August 2002.
We would also like to take this opportunity to welcome Frank Butler who was
voted on to the Board today as a new independent non-executive director. Frank
brings years of experience in corporate risk management, having been the CEO of
CRM International Group (now Alexander Forbes Business Risk Solutions) a leading
provider of risk management solutions. He also brings a good deal of
international and general business experience. We look forward to the
contribution that Frank will undoubtedly make in this new exciting growth phase
that the Omnia Group is entering.
JOHANNESBURG
27 September 2002
Date: 27/09/2002 12:38:25 PM Produced by the JSE SENS Department
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
