ADRENNA PROPERTY GROUP LIMITED - Trading Statement

Trading Statement

ADRENNA PROPERTY GROUP LIMITED
(Registration Number 1998/012245/06)
Share Code: ANA ISIN: ZAE000163580
“Adrenna” or “the Group”

TRADING STATEMENT

In terms of paragraph 3.4(b) of the JSE Listings Requirements, a listed company is required to publish
a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the
financial results for the period to be reported upon next will differ, by at least 20%, from those of the
previous corresponding period.

Shareholders are advised that:
-    the Group’s headline earnings per share (“HEPS”) for the year ended 28 February 2018 are
     expected to be between 40% and 50% lower (7.86 and 6.55 cents per share) than the HEPS of
     13.1 cents per share reported for the previous year ended 28 February 2017;
-    basic earnings per share (“EPS”) for the year ended 28 February 2018 are expected to be
     between 20% and 30% lower (30.16 and 26.39 cents per share) than the EPS of 37.7 cents per
     share reported for the previous year ended 28 February 2017; and
-    Net asset value and tangible net asset value per share is expected to be between 6% and 16%
     higher (278 and 304 cents per share) than the net asset value and tangible net asset value per
     share of 262 cents reported for the previous financial year ended 28 February 2017.

The final announcement of the results for the year ended 28 February 2018 will be released on SENS
on 29 May 2018 with a short-form announcement being published on the same day.

This trading statement and the forecast financial information contained herein has not been reviewed
and reported on by the Group’s external auditors.

Johannesburg
22 May 2018


Sponsor
Arbor Capital Sponsors Proprietary Limited

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