Mathomo - Disposal Of A Property Letting Business, Trading Update And Further
Cautionary Announcement
MATHOMO GROUP LIMITED
(Registration Number. 1995/004783/06)
Share Code: MTO
ISIN Code: ZAE000037214
("Mathomo" or "the company")
DISPOSAL OF A PROPERTY LETTING BUSINESS, TRADING UPDATE AND FURTHER CAUTIONARY
ANNOUNCEMENT
Disposal
Java Capital is authorised to announce that the company has concluded an
agreement for the disposal of Mathomo Properties (Pty) Limited"s property
letting business ("property") to Key Lettings CC, with effect from the date of
transfer for an aggregate price of R2 300 000, to be settled by the payment of
R2 200 000 in cash on transfer and R100 000 by the issue of 18 post dated
cheques together with interest at prime plus 2% starting on 31 May 2004 (the
"disposal").
The disposal is not subject to any conditions precedent.
The disposal is in line with Mathomo"s strategy of disposing of non-core assets
in order to reduce borrowings within the Mathomo Group.
The financial effects of the disposal on the historical earnings, headline
earnings and net asset value per Mathomo share are not significant and financial
effects have therefore not been included in this announcement.
Trading update
In terms of the Listings Requirements of the JSE Securities Exchange South
Africa ("JSE"), a listed company is required to publish a trading update as soon
as it becomes aware that the financial results for the next period to be
reported on will be substantially (substantially being equal to or above 30% as
defined in the Listings requirements of the JSE) different from those of the
previous corresponding period.
Accordingly shareholders are advised that the company anticipates the headline
earnings for the six months ended 31 March 2004 will be substantially lower than
those of the previous corresponding period.
This trading update has not been reviewed or reported on by Mathomo"s auditors.
Further Cautionary Announcement
Accordingly shareholders are reminded to continue exercising caution in their
dealings in Mathomo shares until such time as further announcements have been
made.
5 May 2004
Sponsor
Java Capital
Date: 05/05/2004 04:44:07 PM Produced by the JSE SENS Department
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