SENS Note - 24 May 2013

Trading Update

 

Infrasors Holdings Limited

(Incorporated in the Republic of South Africa)

(Registration number: 2007/002405/06)

Share Code on the JSE: IRA ISIN: ZAE000101507

("Infrasors" or "the Company")

 

 

FURTHER TRADING UPDATE

 

In terms of the JSE Listings Requirements, companies are required to

publish a trading statement as soon as they are satisfied within a

reasonable degree of certainty that the financial results of the period

to be reported upon will differ by 20% or more from the financial

results of the previous corresponding period.

 

Shareholders are referred to the trading update published on SENS on 25

April 2013, and are advised that the company has obtained more certainty

regarding their financial results for the year ended 28 February 2013.

 

Accordingly, Infrasors shareholders are advised that for the year ended

28 February 2013 (“the year”):

 

-   Earnings per share (“EPS”) is expected to be a loss of between 175.0

    cents per share and 155.0 cents per share (previous trading update

    reflect a loss of between 185.0 cents per share and 165.0 cents per

    share), compared to a profit of 15.0 cents per share for the

    previous year;

 

-   Headline earnings per share (“HEPS”) is expected to be a loss of

    between 60.0 cents per share and 40.0 cent per share (previous

    trading update reflect a loss of between 30.0 cents per share and

    20.0 cents per share), compared to a profit of 10.3 cents per share

    for the previous year.

 

The key reasons for the decline in EPS and HEPS since the previous year

include additional costs, increased depreciation/amortisation and

impairments incurred during the year (in respect of property, investment

property, plant & equipment assets, mineral rights, loans receivable and

deferred tax assets) due to Delf Sand mine nearing the end of its

economic live, non-core projects being suspended and a loan written down

to market value.

 

 

The financial information on which this further trading update is based

has not been reviewed, audited and reported on by the Company’s auditors.

 

Shareholders are advised that the results for the year ended 28 February

2013 will be released towards the end of May 2013.

 

By Order of the Board of Directors

Johannesburg

24 May 2013

 

 

Sponsor

Sasfin Capital (a division of Sasfin Bank Limited)

 

Date: 24/05/2013 04:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

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