BRN BRT
BRT
Brimstone Investment Corporation Limited - Trading Statement
Brimstone Investment Corporation Limited
(Registration number 1995/010442/06)
(Incorporated in the Republic of South Africa)
ISIN Number: ZAE000015277 Share Code: BRT
ISIN Number: ZAE000015285 Share Code: BRN
("Brimstone" or the "Company")
Trading Statement
In terms of the JSE Limited ("the JSE") Listings Requirements, companies are
required to publish a trading statement as soon as they are reasonably certain
that the financial results for the current reporting period will be more than
20% different than that of the prior comparative period.
Pursuant to the Old Mutual Group BEE transaction, the Brimstone Consortium (made
up of Brimstone (67%) and Mtha-we-Mpumelelo Investments (Proprietary) Limited
(33%)), acquired an effective 0.47% interest in the issued share capital of Old
Mutual plc ("Old Mutual") and an effective 0.61% interest in the issued share
capital of Nedbank Group Limited ("Nedbank") ("the interests"). The interests
will be accounted for as options by Brimstone.
As the share prices of Old Mutual and Nedbank have increased over and above the
reference price of R14.95 for the Old Mutual plc interest and R74.75 for the
Nedbank interest, the value of the respective options has increased by R105.6
million. This increased value of the options will lead to headline earnings per
share and earnings per share for the year ended 31 December 2005 increasing by
42.2 cents and 41.8 cents respectively. This increase only takes into account
the effect of the value of the options.
The results of the remaining Brimstone operations for the year ended 31 December
2005 are not yet known with reasonable certainty and a further trading update
will be made as soon as there is reasonable certainty regarding this.
Shareholders are advised that the above information has not been reviewed or
reported on by the Company"s auditors and that the Company"s results for the
year ended 31 December 2005 are expected to be published on 06 March 2006.
05 January 2006
Cape Town
Investment bank and sponsor
Nedbank Capital
Date: 05/01/2006 04:49:45 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
