Winhold - Trading Statement
WINHOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1945/019679/06)
(Share code: WNH/WNHP)
ISIN: ZAE000033916/ZAE000008041
(`Winhold` or `the company`)
TRADING STATEMENT, PROPOSALS AND CAUTIONARY ANNOUNCEMENT
1. Shareholders are advised that the company`s earnings and headline
earnings per share for the year ending 30 September 2004 are expected to be
substantially greater than those for the comparative period (`substantially`
is defined in the Listings Requirements of the JSE Securities Exchange South
Africa as being 30% or more).
The reasons for this can be attributed mainly to the continuing
improvement in the results of the wholly-owned Gundle Limited Group and to the
increased holding in its subsidiary, Inmins Limited (`Inmins`), because of its
repurchase of shares during the previous year.
The projected results for the year to 30 September 2004 on which this
trading statement is based have not been reviewed or reported on by the
auditors of the company.
2. The boards of directors of Winhold and Inmins (collectively `the Winhold
Group`) are considering proposals which, if implemented, may have a material
effect on the share price of Winhold.
The proposals comprise the following elements:
- the restructure of the Winhold Group leading to one listed entity;
- an odd lot offer to the shareholders of the remaining listed entity in
order to reduce the disproportionate costs of servicing a multiplicity of
small shareholders.
It is anticipated that the format and timing of these proposals will be
formulated in the near future.
3. Shareholders are accordingly advised to exercise caution when dealing in
the company`s shares until further announcements are made regarding the
proposals referred to in paragraph 2 above.
By order of the board
DJ de Villiers
Secretary
Germiston
26 July 2004
Sponsor
LPC Manhattan Sponsors (Pty) Ltd
(Registration number 1999/024792/07)
Date: 26/07/2004 05:15:02 PM Produced by the JSE SENS Department
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