Phumelela Gaming and Leisure Limited - Trading Update and Cautionary
Announcement
Phumelela Gaming and Leisure Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/016610/06)
Share code: PHM ISIN: ZAE000039269
Trading Update and Cautionary Announcement
We refer to the previous trading update released on SENS on 18 December 2003,
wherein it was stated that due to the impact of the outbreak of equine flu, it
was anticipated that the effect on earnings for the six months ending 31 January
2004 would be material. Subsequently, equine flu also spread to the horses
stabled at the Turffontein racecourse. We are now reasonably confident that the
virus has run its course. The limited racing programme in Gauteng, which has
been in operation from 3 January 2004, should be back to normal from 24 February
2004. The racing programme in the Eastern Cape resumed on 23 January 2004 and
racing in the Western Cape will be resuming on 8 February 2004. Steps are being
taken, where possible, to include additional race meetings for the balance of
the year. These are all encouraging developments, however, the impact on
earnings for the six months ending 31 January 2004 remains material as
previously announced. As the forecast has not been reviewed or reported on by
Phumelela"s auditors, shareholders are advised to continue exercising caution
when dealing in Phumelela shares until the release of the interim announcement
of results, which are due to be published on or about 17 March 2004.
By order of the board
Johannesburg
6 February 2004
Sponsor : Investec Bank Limited
Date: 06/02/2004 11:05:03 AM Supplied by www.sharenet.co.za
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