Matodzi - Trading Update And Cautionary Announceme
Matodzi - Trading Update And Cautionary Announcement
MATODZI RESOURCES LIMITED
(Formerly New Mining Corporation Limited)
(Registration number 1933/004523/06)
Share code: MTZ ISIN: ZAE000042412
(`MATODZI` or `the Company`)
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
Following an initial review of the annual results by the Company`s directors,
shareholders are advised that Matodzi`s results in relation to headline earnings
per share for the year ended 31 March 2004 will be substantially higher
(`substantially` being an increase of equal to or greater than 20% as defined in
the JSE Securities Exchange South Africa (`JSE`) Listings Requirements), when
compared to the prior comparative period.
The main reasons for the increase in headline earnings are:
- The positive fair value adjustments required to be made to investments, in
terms of AC133 `Financial Instruments - Recognition and Measurement` which was
adopted in the current year; less
- Finance costs resulting from the purchase of 126 million JCI Limited shares in
August 2003.
The Matodzi board is presently finalising their review of the Company`s results
for the year ended 31 March 2004. Shareholders are accordingly advised to
exercise caution when dealing in the Company`s securities until the final
results which will be published on or about 30 June 2004.
Johannesburg
28 June 2004
Sponsor
River Group
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