Trading Statement and Notification of Reliance on the FSCA Market Notice Dated 7 July 2020
(Incorporated in the Republic of South Africa)
(Registration number 1989/000100/06)
(“AH-Vest” or “the Company”)
Share code: AHL ISIN code: ZAE000129177
FINANCIAL RESULTS: TRADING STATEMENT AND NOTIFICATION OF RELIANCE ON THE FINANCIAL SECTOR
CONDUCT AUTHORITY (“FSCA”) MARKET NOTICE DATED 7 JULY 2020
In terms of paragraph 3.4(b)(i) of the Listings Requirements of the Johannesburg
Stock Exchange (“JSE”), listed 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 at least 20% from those of the previous
corresponding period or from a profit forecast previously provided to the market in
relation to such period.
Shareholders are advised that for the financial year ended 30 June 2020, the
Company expects to report:
- earnings per share (“EPS”) of between 7.7 cents per share (“cps”) and 8.2 cps,
being between 32% and 41% higher than the EPS of 5.81 cps reported for the
comparative year ended 30 June 2019 and the EPS of 5.85 cps included in the
profit forecast published on SENS on 14 August 2020 (“profit forecast”); and
- headline earnings per share (“HEPS”) of between 7.7 cps and 8.2 cps, being
between 31% and 39% higher than the HEPS of 5.90 cps reported for the
comparative year ended 30 June 2019 and the HEPS of 5.85 cps included in the
The improved results are due to improved production efficiencies, improved service
levels, cost containment and a continued focus on working capital management.
The financial information on which this trading statement is based has not been
reviewed and reported on by the Company’s auditors.
Extension of Financial Reporting Period
Shareholders are referred to the announcements released by the JSE on 3 April 2020
and 8 July 2020, in which it advised that the FSCA had granted companies with
financial year ends of 31 May 2020, 30 June 2020 and 31 July 2020 an extension of
two months to complete their financial reporting process.
Shareholders are advised that the Company will be utilising the extension to
reporting obligations afforded by the FSCA and expects to publish its financial
statements and integrated report, incorporating the final annual financial
statements and the notice of annual general meeting by 30 October 2020 and 31
December 2020 respectively.
As advised by the JSE, the Company emphasises that market participants should
not draw undue adverse inferences as a result of it making use of the extension
periods available to it.
14 October 2020
AcaciaCap Advisors Proprietary Limited
Date: 14-10-2020 12:31:00
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