REM
REM
Remgro Limited - Trading Statement
Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
Share code: REM
("Remgro" or "the Company")
Trading Statement
Paragraph 3.4 (b) of the Listings Requirements of the JSE Limited ("JSE
Listings Requirements") requires companies to publish a trading statement
as soon as they become reasonably certain that the financial results for
the period to be reported upon next will differ by at least 20% from that
of the previous corresponding period.
Remgro is currently finalising its results for the six months ended 30
September 2006, which is due to be released on or about 29 November 2006.
In compliance with the JSE Listings Requirements, shareholders are advised
that Remgro"s reported headline earnings per share ("HEPS") is expected to
be between 35% and 45% higher than the HEPS of the comparative interim
period ended 30 September 2005.
On an adjusted basis, i.e. before taking into account the non-recurring
portion of BEE costs of R318.6 million in the comparative period, HEPS is
expected to be between 20% and 30% higher than the HEPS of the comparative
interim period ended 30 September 2005.
It should be noted that Remgro has restated its headline earnings for the
comparative interim period ended 30 September 2005 due to the restatement
by FirstRand Limited and RMB Holdings Limited of their results to comply
with the revised accounting circular on headline earnings. Profits and
losses on the realisation of equity accounted private equity or venture
capital investments were therefore excluded from headline earnings.
Accordingly Remgro"s comparative headline earnings was reduced by R42
million, or 8.7 cents per share.
The financial information on which this trading statement is based has not
been reviewed and reported on by the Company"s auditors.
Stellenbosch
9 November 2006
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 09/11/2006 05:05:03 PM Produced by the JSE SENS Department
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