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ROYAL BAFOKENG PLATINUM LIMITED - Restatement of diluted Headline earnings per share

Release Date: 08/03/2019 16:00
Code(s): RBP RBPCB     PDF:  
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Restatement of diluted Headline earnings per share

ROYAL BAFOKENG PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2008/015696/06)
JSE share code: RBP ISIN: ZAE000149936
JSE bond code: RBPCB ISIN: ZAE000243853
("RBPlat" or the "Company")

Restatement of diluted Headline earnings per share

Security holders are referred to the Company announcement released on the Stock Exchange News
Service (SENS) on Tuesday, 5 March 2019, regarding the audited annual results for the year ended
31 December 2018.

In terms of the International Financial Reporting Standards (“IFRS”) the diluted headline earnings per
shares (“HEPS”) of 27.4 cents should have been capped to the same level as basic HEPS at 25.0 cent
per share. Due to this oversight security holders are advised that diluted HEPS per share is restated
from 27.4 cents per share to 25.0 cents per share.

The necessary corrections have been made to the consolidated annual financial results for the year
ended 31 December 2018 which are available on the company’s website,
www.bafokengplatinum.co.za/investorsandmedia/Reporting.

Below is the extract of the table that changed as a result of this correction:
 
Reconciliation of Basic earnings to headline earnings
                                                                                            2018                   2017
                                                                                      Gross        Net       Gross        Net
 Headline earnings
 (Loss)/profit attributable to owners of the Company R (million)                                 155.6                 (752.7)
 Adjustments:
 Profit on disposal of property, plant and equipment and other assets R (million)      (0.4)      (0.4)       (1.8)      (1.8)
 Impairment of non-financial assets R (million)                                        26.3       12.8       863.3      863.3
 Gain on bargain purchase                                                            (118.3)    (118.3)          -          -
 Headline earnings R (million)                                                                    49.7                  108.8


 Net interest on convertible bond (refer to Note 27.2)                                  7.1        5.1        45.9       33.0
 Derivative fair value (refer to Note 26)                                                 -          -       (19.5)     (14.0)
 Interest on RPM deferred consideration                                                11.5        8.3
 Diluted Profit/(loss) R (million)                                                                63.1                  127.8


 Basic headline earnings per share (cents/share)                                                  25.0                   56.4
 Diluted headline earnings per share (cents/share)                                                25.0                   56.4



For further information, please contact:


Lindiwe Montshiwagae
Executive: Investor Relations
Tel: +27 (0)10 590 4510
Email: lindiwe@bafokengplatinum.co.za

8 March 2019
JSE Sponsor:
Merrill Lynch South Africa (Pty) Ltd

Date: 08/03/2019 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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