Corpcapital Limited - Trading Statement And Cautio
Corpcapital Limited - Trading Statement And Cautionary Announcement
Corpcapital Limited
(Registration No. 1983/011384/06)
Share code: CPA ISIN code: ZAE000034260
("Corpcapital")
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
Shareholders are advised that it is anticipated that Corpcapital"s earnings to
be reported for the six months ended 29 February 2004 ("the period") will be
substantially higher than the earnings for the corresponding period of the
previous financial year ("the corresponding period"). In terms of the JSE
Listing Requirements "substantially" is a change of 30% or more.
The increase in earnings is attributable to profits on the realisation of a
number of Corpcapital"s investments, in particular the realisations of Corpbuild
and Vestacor which were concluded during the year ended 31 August 2003 and were
the cause of the distribution ("the previous distribution") to shareholders made
on 9 February 2004. The realisations only became unconditional during the
period. The increase in earnings, which is a result of the accounting
recognition of the profit on these previously announced realisations, has no
bearing on the anticipated realisation of Corpcapital"s remaining assets as the
proceeds have already been incorporated in the previous distribution.
Corpcapital"s headline earnings for the period, which exclude the profits earned
on the realisation of the investments, are substantially lower than for the
corresponding period. This is mainly as a result of the cessation of the
income flow from the investments sold.
This trading statement has not been reviewed or reported on by Corpcapital"s
auditors and, as a result, holders of shares in Corpcapital are advised to
exercise caution when dealing in such shares until the interim results are
published.
Rosebank
20 April 2004
Sponsors
Java Capital
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
