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Further trading statement in respect of the year ended 29 February 2020
RAUBEX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/023666/06)
JSE Share code: RBX
ISIN: ZAE000093183
(“Raubex” or “the Company”)
FURTHER TRADING STATEMENT IN RESPECT OF THE YEAR ENDED 29 FEBRUARY 2020
Further to the trading statement released on 20 April 2020 in which shareholders were advised that Raubex
expects its earnings per share for the year ended 29 February 2020 to be between 325% and 355% higher than
the earnings per share from the previous corresponding period and its headline earnings per share for the year
ended 29 February 2020 to be between 120% and 140% higher than the headline earnings per share from the
previous corresponding period, the Company now provides the following updated guidance on its trading
range in terms of paragraph 3.4(b)(iv) of the JSE Limited Listings Requirements.
Shareholders are now advised that Raubex expects its earnings per share for the year ended 29 February 2020
to be approximately 335,7% higher than the earnings per share from the previous corresponding period and its
headline earnings per share for the year ended 29 February 2020 to be approximately 183,7% higher than the
headline earnings per share from the previous corresponding period. This translates to earnings per share of
139,0 cents (2019: 31,9 cents) and headline earnings per share of 161,7 cents (2019: 57 cents).
The increase in headline earnings per share compared to the previous guidance range is due to a revision of
the financial effects of the disposal of Raubex Property Investments Proprietary Limited to Acorn Black
Investments Proprietary Limited (the “Transaction”) and the treatment of these financial effects with regards
to the calculation of headline earnings per share.
Shareholders are referred to the SENS announcement released on 20 April 2020 titled ”Further trading
statement in respect of the year ended 29 February 2020 including update on the financial effects of the
disposal of Raubex Property Investments Proprietary Limited to Acorn Black Investments Proprietary Limited
and the impact of the novel coronavirus (“Covid-19”) on Raubex.”
Previously the financial effects of the Transaction were considered to result in a profit on disposal of assets of
R3,7 million after tax, which was excluded from the calculation of headline earnings per share, and a fair value
charge on the financing structure of the Transaction of R57,1 million after tax which was included in the
calculation of headline earnings per share.
Following a further technical review of the International Financial Reporting Standards (“IFRS”) applicable to
the Transaction, shareholders are now advised that the Transaction is not to be separated into components
but is to be treated as one sale and leaseback transaction under IFRS 16. The Transaction has resulted in a loss
on sale and leaseback of R68,5 million before tax (R53,5 million after tax), a right of use asset of R283,5 million
and a lease liability of R357,9 million. The loss on sale and leaseback has been excluded from the calculation of
headline earnings per share.
The release of the audited results for the year ended 29 February 2020 is anticipated to be published on or
about 29 May 2020.
Centurion
26 May 2020
Sponsor
Investec Bank Limited
Date: 26-05-2020 01:43:00
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