Mathomo - Adjustment of Headline Earnings per Shar
Mathomo Group Limited
("Mathomo" or "the company")
(Reg. No. 1995/004783/06)
Share Code MTO
ISIN Code ZAE000010542
Adjustment of Headline Earnings per Share ("HEPS")
The reviewed Mathomo results for the year ended 30 September 2002 included a
number of adjustments to the net loss for the period in order to obtain the
headline earnings. Included in the adjustments was R3,074 million added to
headline earnings in respect of directors termination of contract payments ("the
payments").
JSE Securities Exchange South Africa ("JSE"), having obtained a ruling from The
GAAP Monitoring Panel, have advised the company that although the payments are
not of a recurring nature, in both their opinions, the payments should not have
been included in the adjustments made in order to arrive at headline earnings
and HEPS.
Accordingly and at the request of the JSE, Mathomo has agreed to adjust the
headline earnings and HEPS calculations by excluding the adjustment in respect
of the payments.
The effect of the adjustments is to reduce headline earnings from R3,633,000 to
R559,000 and HEPS from 13,9 to 2,1 cents. The statutory financial statements to
be issued to shareholders shortly will contain these adjusted calculations.
Sponsor to Mathomo
Corpcapital Corporate Finance
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