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BEG
BEG
Beige - Trading update for six months to 30 September 2006
BEIGE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/006871/06)
("Beige" or "the company")
ISIN Code: ZAE000034161
Share code: BEG
TRADING UPDATE FOR SIX MONTHS TO 30 SEPTEMBER 2006
In terms of the Listings Requirements of the JSE Limited ("the JSE"), listed
companies are required to publish a trading statement as soon as they become
reasonably certain that the financial results for the next period to be
reported on will be more than 20% different from those of the previous
corresponding period or from a profit forecast previously provided to the
market in relation to such period. Whilst Beige did not publish a profit
forecast for the six months ended 30 September 2006, a profit forecast for the
year ended 31 March 2007 was published.
The board is pleased to advise shareholders that the results for the six
months ended 30 September 2006, after the consolidation of 100% of Quality
Products (Pty) Ltd ("Quality Products"), are expected to show a complete
turnaround from a loss and headline loss per share of 0.5 cents to earnings
and headline earnings per share of between 240% and 260% better than the prior
comparative six month period ended 31 August 2005.
In addition, Beige shareholders are advised that the company published a
profit forecast on 07 December 2005, whereby earnings and headline earnings
for the year ending 31 March 2007 were anticipated to be 1.15 cents per share.
On the assumption that half of this relates to the first six months ended 30
September 2006, shareholders are advised that Beige expects earnings and
headline earnings to be between 25% and 45% better than the projected 0.58
cents per share.
This trading statement is based on the fact that irrevocable undertakings to
vote in favour of the empowerment transaction with Thebe, incorporating the
acquisition of an additional 50% plus one share shareholding in Quality
Products (Proprietary) Limited ("Quality Products") have been received from
shareholders and/or their nominees holding 308 048 147 of the issued shares in
Beige, representing approximately 52% of the issued share capital. Thus the
trading statement takes into account the consolidation of 100% of Quality
Products.
Shareholders are advised that the circular detailing the transaction was
posted to shareholders on 27 October 2006 and that the general meeting to
approve the transaction will be held at 10.00 on Monday, 13 November 2006 at
Arcay House II, Number 3 Anerley Road, Parktown, Johannesburg.
The financial information on which this trading statement is based has not
been reviewed nor reported on by the company"s auditors. A revised profit
forecast has been prepared by the company and will be published following the
approval of the acquisition of the remaining shareholding in Quality Products
on 13 November 2006.
In accordance with AltX Listings Requirements, shareholders are advised of the
risks of investing in a company listed on AltX and are advised that the JSE
does not guarantee the viability or the success of a company listed on AltX.
In terms of JSE Listings Requirements a Designated Adviser has to be retained
by the company. The Designated Adviser is required to, inter alia, attend all
board meetings held by the company to ensure that all JSE Listings
Requirements and applicable regulations are complied with, approve the
financial director of the company and guide the company in a competent,
professional and impartial manner. If the company fails to retain a
Designated Adviser it must make arrangements to appoint a new Designated
Adviser within 10 business days, failing which the company faces suspension of
trading of its securities. If a Designated Adviser is not appointed within 30
days of its suspension the company faces the termination of its listing
without an offer to minorities.
Johannesburg
6 November 2006
Designated Advisor
Arcay Corporate Services
Date: 06/11/2006 12:50:05 PM Produced by the JSE SENS Department
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