Tiger Wheels Limited - Trading Update
TIGER WHEELS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1970/011662/07)
(`TIWHEEL` OR `THE COMPANY`)
SHARE CODE: TIW ISIN NUMBER: ZAE 000007407
TRADING UPDATE
Due to the effects of non-recurring factors referred to below, the Tiwheel board
wishes to issue this trading update. Although, in the normal course, this may
not have been considered material or necessary, nevertheless, due to a possible
large trade in Tiwheel shares covered by the option granted to Bidvest Ltd,
which expires on 30 April 2005, it is deemed prudent to do so.
Shareholders are advised that due to the combined effects of a settlement
reached with the German tax authorities in respect of transfer pricing and other
taxes pertaining to prior periods, a loss arising out of the bankruptcy of MG-
Rover and short-term order cutbacks in certain overseas markets, headline
earnings per share for the full year ending 30 June 2005 are expected to be
between 12% and 22% lower than those achieved in the previous financial year.
However, the medium term prognosis for the group remains sound.
The information in this trading statement has not been reviewed or reported on
by Tiwheel`s auditors.
Johannesburg
25 April 2005
Sponsor
Sasfin Corporate Finance
A Division of Sasfin Bank Limited
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