Rmb Holdings Limited - Trading Statement In Respect Of The Six-Month Period
Ended 31 December 2004
RMB HOLDINGS LIMITED
(`RMBH` or `the Company`))
(Incorporated in the Republic of South Africa)
Registration number: 1987/005115/06
Share code: RMH
ISIN: ZAE000024501
TRADING STATEMENT IN RESPECT OF THE SIX-MONTH PERIOD ENDED
31 DECEMBER 2004
Shareholders are referred to the trading statement issued by the Company`s 34,4%
held associate FirstRand Limited (`FirstRand`) on 22 February 2005.
In that announcement, FirstRand, in compliance with the JSE Securities Exchange
South Africa Listings Requirements, advised that:
FirstRand headline earnings per share (which includes translation losses), as
well as fully diluted headline earnings per share, for the six-month period
ended 31 December 2004 are expected to exceed the comparative period by
marginally more than 20%. It reported that this was due to the FirstRand
portfolio of businesses benefiting from a favourable financial services
operating environment.
Furthermore FirstRand had sold its wholly-owned subsidiary, Ansbacher, during
the period under review. The sale increased FirstRand`s attributable earnings by
R396 million as a result of a transfer (net of transaction costs) from its
currency translation reserves. FirstRand`s attributable earnings and earnings
per share will, therefore, exceed the comparative period by 30% - 36%. This
transfer is excluded from the calculation of headline earnings as the transfer
is not part of the operational performance of FirstRand.
As its investment in FirstRand produces the bulk of RMBH`s earnings, it is
anticipated that the impact outlined by FirstRand will, to a large extent,
proportionately flow through into RMBH`s results for the six-month period ended
31 December 2004.
The financial information on which this trading statement is based has not been
reviewed and reported on by the Company`s auditors.
Full details of RMBH`s financial results will be released on SENS on 2 March
2005 and in the press on 3 March 2005.
Sandton
23 February 2005
Merchant Bank and Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 23/02/2005 10:33:54 AM
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