Mustek - Trading Statement And Cautionary Announce
Mustek - Trading Statement And Cautionary Announcement
MUSTEK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/070161/06)
Share code: MST
ISIN: ZAE000012373
(`Mustek` or `the company`)
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
Shareholders of Mustek are advised that basic earnings per ordinary share for
the year ended 30 June 2004 will be substantially lower (`substantially` being a
decrease equal to or greater than 30% as defined in the JSE Securities Exchange
South Africa (`JSE`) Listings Requirements) than those of the previous
comparative period.
Shareholders of Mustek are further advised that headline earnings per ordinary
share for the year ended 30 June 2004 will be materially lower (`materially`
being a decrease between 10% and 30% as defined in the JSE Listings
Requirements) than those of the previous comparative period.
The decrease in basic earnings per ordinary share and headline earnings per
ordinary share is a result of the effect that the strengthening Rand had on the
selling prices of personal computers and computer components as well as Mustek`s
policy to take out forward cover on US dollar exposure for imports.
Subsequently, Mustek has amended its forward cover policy and does not take out
forward cover for periods exceeding 120 days.
The board of directors are of the opinion that the final results will not affect
the company`s ability to declare and pay a final dividend, of at least the same
amount as the previous comparative period.
Further details will be provided when Mustek publishes the final results for the
year ended 30 June 2004, which is expected towards the first week of September
2004.
As a result of the above and due to the fact that the earnings estimate has not
been reviewed and reported on by Mustek`s auditors, shareholders are advised to
exercise caution when dealing in the company`s shares until the aforementioned
interim results are published.
Midrand
17 August 2004
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1996/000034/07)
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