Yorkcor - Trading Statement and Further Cautionary Announcement
The York Timber Organisation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1916/004890/06)
Share code YRK ISIN Code: ZAE000008108
(`Yorkcor` or `the Company`)
Trading Statement
Further Cautionary Announcement
The JSE Limited (`JSE`) requires a listed company to publish a trading statement
as soon as it becomes aware that the financial results for the next period to be
reported on will differ by at least 20% or more from those of the previous
corresponding period.
Results for first half year 2005
It is expected that basic and diluted headline earnings per share for the six
months ended 30 June 2005 will reflect an increase of between 715% and 725% over
the prior corresponding period. Basic and diluted earnings per share are
expected to reflect a similar increase. The reported earnings per share for the
corresponding period last year amounted to 9.16 cents per share and the headline
earnings totalled 8.87 cents per share.
Change in accounting policies
The figures in this announcement and those to be reflected in the forthcoming
interim report are prepared in accordance with International Financial Reporting
Standards (IFRS) as well as the requirements of the Companies Act (as amended).
The comparative figures are also expressed in compliance with IFRS. The effects
arising from the change to IFRS convention are not material. The above figures
have not been reviewed or audited by the company`s auditors.
Further cautionary announcement
Shareholders are referred to the cautionary announcements published on SENS on
1 June 2005, 25 July 2005 and 6 September 2005 wherein it was advised that the
company had entered into discussions. The talks relate to the establishment of a
significant Black Empowerment Enterprise. Progress in the talks has been
overtaken by competing overtures by rival third parties. The Company is still
engaged in the original discussions which, if successfully concluded, may have
an impact on the price of the company`s securities. Accordingly, shareholders
are advised to continue to exercise caution when dealing in their shares until a
further announcement is made.
The publication of the interim results is expected on or about 23 September
2005.
15 September 2005
Pretoria
Sponsor: Sasfin Corporate Finance:
A division of Sasfin Bank Ltd
Date: 15/09/2005 01:05:47 PM
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