In terms of the JSE Limited Listings Requirements, a listed company is required to publish a trading statement as soon as it becomes reasonably certain that the financial results for the next period to be reported on will differ by 20% or more from the financial results for the previous corresponding period.
Accordingly, 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 21.67 cents and 28.35 cents, being an improvement of between 35.14% (11.8 cents) and 15.14% (5.06 cents) for the year ended 31 December 2020, compared to the loss and headline loss per share of 33.41 cents reported for the year ended 31 December 2019.
The reason for the improvement in the current reporting period is mainly as a result of significant less operating expenditure, which includes legal expenses incurred.
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 2020 on or about 31 March 2021.
25 March 2021