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Trading Update

Thursday, 1 September 2016

In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on will differ by 20% or more from the financial results of the previous corresponding period.

Shareholders are advised that following a solid operational performance at its Somkhele anthracite mine, Petmin’s headline earnings for the year ended 30 June 2016 are expected to decrease by approximately 3% to approximately 23.7 cents per share (2015: 24.28 cents).

Earnings per share for the year ended 30 June 2016 is expected to reduce by approximately 91% to approximately 2 cents per share compared to the earnings per share of 22.98 cents for the year ended 30 June 2015. The reduction in earnings per share is as a result of the decision taken in December 2015 to fully impair the investment in the Veremo project of R115 million due to the lack of acceptable progress in discussions with the majority shareholders of Veremo on how best to take the Veremo project forward. This impairment has no impact on cash.

This trading statement and SENS announcement has not been reviewed or audited by the Company`s auditors.

The Company's preliminary results for the year ended 30 June 2016 are expected to be published on SENS on 5 September 2016.

Investors, analysts and media are invited to join a 10h00 call with Petmin management on Monday 5 September 2016 following the release of Petmin financial results for the year ended 30 June 2016.

 

Dial in details for Petmin results call 10h00 Monday 5 September 2016  
Country Access Number
South Africa - Johannesburg Neotel 011 535 3600
South Africa - Johannesburg Telkom 010 201 6800
UK - Toll-Free 0808 162 4061
USA and Canada - Toll Free 1 855 481 5362
Australia - Toll-Free 1 800 350 100
Other Countries - International +27 11 305 2030
Other Countries - International +27 10 201 6800

Playback Access Numbers (code 45555#)  
Country Access Number
Other Countries - International +27 11 305 2030
South Africa 011 305 2030
UK - Toll Free 0 808 234 6771
USA and Canada - Toll Free 1 855 481 5363

Enquiries:
Petmin: Bradley Doig

+27 11 706 1644

Media: Jonathon Rees (Communications and investor relations)
Jonathon Rees (Communications and investor relations)
+27 76 185 1827
jonathon@proofafrica.co.za

Sponsor and Corporate Adviser
River Group
Johannesburg
1 September 2016

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