AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED - Updated Trading Statement

Updated Trading Statement

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: AEE
ISIN: ZAE000195731
("AEEI" or “the Company”)

UPDATED TRADING STATEMENT

In terms of paragraph 3.4(b) of the JSE Listings Requirements,
listed companies are required to publish a trading statement
as soon as the Board of directors is satisfied that a
reasonable degree of certainty exists that the financial
results for the period to be reported on next will vary by 20%
or more when compared to those of the prior reporting period.

Further to the trading statement released on SENS on 18
December 2019 (“Original Trading Statement”), shareholders are
hereby advised that for the year ended 31 August 2019, AEEI
expects:

•   Earnings per share will be within the range provided in the
    Original Trading Statement;

•   that headline earnings per share (“HEPS”) for the year ended
    31 August 2019 will be between 88.74 cents and 93.58 cents
    per   share,  compared   to   24.24  cents   in  the   prior
    corresponding year, representing an increase of between 266%
    and 286%; and

•   that normalised headline earnings per share for the year
    ended 31 August 2019, will be between 97.70 cents and 102.73
    cents per share, compared to the 25.09 cents in the prior
    corresponding period, representing an increase of between
    289% and 309%.

Normalised earnings are defined as earnings excluding non-
recurring items and once-off adjustments.

The abovementioned financial information on which this trading
statement is based has not been reviewed or reported on by the
Company’s auditors. The financial results for AEEI for the
year ended 31 August 2019 is expected to be released on SENS
by 24 December 2019.

Cape Town
23 December 2019

Sponsor
Vunani Sponsors

Date: 23-12-2019 10:15:00
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