Scharrig Mining Limited - Trading Update And Furth
SCN
SCN
Scharrig Mining Limited - Trading Update And Further Announcement Regarding The
Benicon Transaction And The Transbor Acquisition
SCHARRIG MINING LIMITED
(Registration number 1992/001973/06)
Share code: SCN & ISIN: ZAE000006474)
("Scharrig" or "the Company")
TRADING UPDATE AND FURTHER ANNOUNCEMENT REGARDING THE BENICON TRANSACTION AND
THE TRANSBOR ACQUISITION
In compliance with paragraph 3.4 of the Listing Requirements of the JSE Limited,
a listed company is required 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% from those of the previous reported period.
Scharrig wishes to advise shareholders that the headline earnings per share and
the earnings per share for the 12 months ended 31 March 2006 are expected to be
between 45% and 55% higher than the headline earnings of 46.6 cents and the
earnings of 46.6 cents per share for the 12 months ended 31 March 2005.
The financial information on which this trading statement has been based has not
been reviewed or reported on by the group"s auditors.
Shareholders are also advised that the Benicon transaction has been finalised,
and that the company is awaiting Competition Commission approval thereof. The
proposed acquisition by Scharrig of certain assets and liabilities Transbor
(Pty) Limited and Geosearch International ("the Transbor acquisition") as
announced on 27 February 2006 has been delayed by the preparation of financial
information in compliance with IFRS. Once this has been finalised, the circular
to shareholders in this regard will be posted on or about 12 June 2006.
Germiston
12 May 2006
Sponsor
VUNANI CORPORATE FINANCE (PTY) LIMITED
Date: 15/05/2006 07:41:10 AM Produced by the JSE SENS Department
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