In terms of the Listings Requirements of the JSE Limited (“JSE Listings Requirements”), companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on next will differ by more than 20% from those of the previous corresponding period.
Shareholders are hereby advised that a reasonable degree of certainty exists that the earnings per share for the year ended 31 December 2015 is expected to be 6.92 cents per share (2014: 190.61 cents), being a decrease of 96.37%. Headline earnings per share is expected to be 1.4 cents per share (2014: 190.61 cents), being a decrease of 99.27%. The reason for the material decrease in earnings and headline earnings per share in the current financial period is due to the settlement agreement concluded with PricewaterhouseCoopers in the 2014 financial period for the amount of R150 million received by the Company. This was a once off event.
The information contained in this trading statement has not been reviewed or reported on by the Company’s external auditors. R&E expects to release its financial results for the year ended 31 December 2015 on or about 23 March 2016.
10 March 2016