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REMGRO LIMITED - Updated trading statement for the year ended 30 June 2021

Release Date: 13/09/2021 07:05
Code(s): REM     PDF:  
Wrap Text
Updated trading statement for the year ended 30 June 2021

Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
Share code: REM
(“Remgro” or “the Company”)

UPDATED TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2021

Paragraph 3.4 (b) of the Listings Requirements of the JSE Limited (“JSE”) requires companies to
publish a trading statement as soon as they become reasonably certain that their financial results for
the period to be reported upon next will differ by at least 20% from those of the previous
corresponding period.

Further to the trading statement released on the Stock Exchange News Service (“SENS”) of the JSE
on 30 June 2021, Remgro is now able to provide further guidance on the estimated results for the year
ended 30 June 2021.

Shareholders are advised that Remgro’s headline earnings per share (“HEPS”) from continuing
operations for the year ended 30 June 2021 is expected to be between 494.2 cents and 524.9 cents
compared to the HEPS from continuing operations of 307.5 cents reported for the year ended
30 June 2020 (an increase of between 61% and 71%). The headline earnings from continuing
operations for the comparative year ended 30 June 2020 were significantly impacted during the
second six months to 30 June 2020 by the Covid-19 pandemic and the resultant lockdown measures
as well as by a once-off donation of R500 million to The South African SME Relief Trust. From this
low base, the expected increase in headline earnings from continuing operations for the year ended
30 June 2021 is mainly due to the recovery of the earnings of most of Remgro’s underlying investee
companies. This expected increase is partly offset, mainly by a lower contribution from Mediclinic
International plc (“Mediclinic”) (Mediclinic’s contribution includes the full impact of the Covid-19-
related lockdown measures on its results for the year ended 31 March 2021).

However, total HEPS is expected to be between 494.2 cents and 524.9 cents compared to the reported
HEPS of 560.6 cents for the year ended 30 June 2020 (an expected decrease of between 6% and 12%).

Remgro’s financial results for the year ended 30 June 2021 are expected to be released on SENS on
or about 22 September 2021.

The financial information on which this trading statement is based has not been reviewed and reported
on by the Company’s external auditors.

Stellenbosch
13 September 2021

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 13-09-2021 07:05:00
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