Corpcapital - Trading Statement
CORPCAPITAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1983/011384/06)
JSE Share code: CPA
ISIN: ZAE000034260
(`Corpcapital`)
TRADING STATEMENT
Corpcapital is currently finalising its financial results for the year ended 31
August 2004. The financial results will be published before the end of November
2004.
In terms of the Listings Requirements of the JSE Securities Exchange South
Africa, shareholders are advised that it is anticipated that in respect of the
year ended 31 August 2004 (`the current period`), Corpcapital`s:
- headline earnings per share will improve from a headline loss per share of
25 cents for the year ended 31 August 2003 to headline earnings per share
of between 25 and 27 cents;
- earnings per share will improve from a loss per share of 58.8 cents for the
year ended 31 August 2003 to earnings per share of between 60 and 63 cents.
This trading statement, which has not been reported on or reviewed by
Corpcapital`s auditors, needs to be viewed in the context of Corpcapital`s
strategy to responsibly realise its investments and return capital to
shareholders.
The increase in earnings and headline earnings does not materially affect the
estimate of ultimate realisable net asset value of 72.4 cents published on 29
February 2004. The increase is predominantly a result of the timing of the
realisation by the Corpcapital group of its interests in Corpbuild and Vestacor.
Although the agreements in relation to these realisations were concluded during
the 12 months ended 31 August 2003, they only became unconditional during the
current period and accordingly the profit on these realisations was only
accounted for in the current period.
Rosebank
27 October 2004
Sponsor
Java Capital (Pty) Limited
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