Spescom Trading Update, Cautionary Announcement An
Spescom Trading Update, Cautionary Announcement And Appointment Of New Sponsor
SPESCOM LIMITED
Incorporated in the Republic of South Africa
Registration number 1987/001083/06
Share code: SPS ISIN: ZAE000017919
("Spescom" or "the Company")
SPESCOM TRADING UPDATE, CAUTIONARY ANNOUNCEMENT AND APPOINTMENT OF NEW SPONSOR
1. Trading update
In terms of the Listings Requirements of the JSE Securities Exchange, South
Africa ("JSE Listings Requirements"), companies are required to publish a
trading statement as soon as they become aware that the financial results for
the period to be reported upon next will be materially different from that of
the previous corresponding period.
Spescom is currently finalising its results for the year ended 30 September
2003, which are expected to be released on or about 20 November 2003. Spescom
accordingly advises that it expects both earnings per share and headline
earnings per share for the year ended 30 September 2003 to be substantially
above earnings per share and headline earnings per share for the year ended 30
September 2002. In terms of the JSE Listings Requirements, "substantially" is
defined as an increase or decrease of more than 30%.
2. Cautionary announcement
The above information has not been reviewed or reported on by the Company"s
auditors.
Shareholders are also advised that Spescom has commenced discussions and
negotiations regarding the introduction of a black economic empowerment partner
to the Company which, if successfully concluded, may have an effect on the price
of the Company"s shares.
Accordingly, shareholders are advised to exercise caution when dealing in the
Company"s shares until the later of publication of the Company"s results for the
year ended 30 September 2003 or a further announcement being made.
3. Appointment of new sponsor
Notification is hereby given that Spescom has, with effect from 3 November 2003,
appointed Investec Bank Limited as the Company"s sponsor.
Johannesburg
5 November 2003
Sponsor
Investec Bank Limited
Date: 05/11/2003 11:57:04 AM Supplied by www.sharenet.co.za
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