IDION - United States Dollar Reporting and Trading Update
IDION Technology Holdings Limited
(Registration Number: 1998/013846/06)
Share Code: IDI ISIN Code: ZAE000022513
(`IDION` or `the Group`)
United States Dollar (`US$`) Reporting
Shareholders are informed that IDION has changed its measurement currency from
South African Rand (`Rand`) to US$ with effect from 1 January 2004, due to the
fact that the major part of IDION`s existing business activities are carried out
in US$ (100% of the Group`s revenue being derived in US$ and in excess of 97% of
Group expenses being incurred in US$). This change has been instituted so as to
ensure that financial information is presented in a manner consistent with the
economic substance of the underlying events and circumstances of the Group`s
business. IDION, as a result of the change in measurement currency, also
changed its reporting currency to US$.. The Group will also report its 2003
comparative results in US$. The change of reporting currency to US$ not only
reduces the distorting effects of fluctuations in currency exchange rates, but
also assists in the simplification of financial analysis of IDION.
IDION, consistent with past results, continues to report its results in
compliance with International Financial Reporting Standards.
Trading Update
IDION recorded headline earnings per share of 0.1 US cent for the six months
ended 30 June 2003. Shareholders are advised that it is expected that headline
earnings for the period ended 30 June 2004 will be more than 180% but less than
200% higher than the corresponding period. The information contained herein has
not been reviewed by IDION`s auditors. Further details of the aforementioned
will be provided when IDION`s results for the six months ended 30 June 2004 are
published on or about 18 August 2004.
11 August 2004
Sunninghill
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
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