In terms of the Listings Requirements of the JSE Limited, 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 Company expects to report a loss and headline loss per share of between 8.62 cents and 8.72 cents for the six months ended 30 June 2016 compared to an earnings and headline earnings per share of 0.47 cents for the six months ended 30 June 2015, being a decrease of between 1935% and 1955%.The decrease in headline earnings amounts to approximately R6m, as a result of minimal recoveries during the current reporting period and an increase in expenditure, partly offset by increased interest received. The net asset value changed with 7 cents from R2.34 at 31 December 2015 to R2.27 at 30 June 2016.
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 six months ended 30 June 2016 on or about 13 September 2016.
02 September 2016
PSG Capital Proprietary Limited