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TREMATON CAPITAL INVESTMENTS LIMITED - Trading Statement

Release Date: 12/11/2020 15:00
Code(s): TMT     PDF:  
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Trading Statement

Trematon Capital Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/008691/06
Share code: TMT
ISIN: ZAE000013991
("Trematon" or "the Trematon group")


TRADING STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020

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

Shareholders are hereby advised that the Trematon group is currently
finalising its annual financial results for the year ended 31 August
2020.

Trematon is an investment holding company and uses earnings, headline
earnings and the intrinsic value model to provide management and
investors with a realistic and transparent way of evaluating
Trematon’s performance. Trematon’s earnings and headline earnings are
inherently volatile and do not provide an accurate indication of the
operations of the Trematon group. Management considers the intrinsic
net asset value (“INAV”) to be the most important financial measure
of value for shareholders. The INAV is compiled using a combination
of listed market prices, external professional valuations and/or
directors valuations, where applicable and reflects the realisable
value of the company based on an efficient disposal of the assets.

The Trematon group expects:

  •   basic loss per share for the year ended 31 August 2020 to be
      between 1.8 cents and 2.2 cents, as compared to basic earnings
      of 10.2 cents for the year ended 31 August 2019 ("the previous
      comparable period”) ;
  •   headline loss per share for the year ended 31 August 2020 to
      be between 3.1 cents and 3.5 cents,    as compared to headline
      earnings of 2.0 cents in the previous comparable period.

The group as a whole achieved operating profits and is cash flow
positive which is reflected in increased cash on hand at year end.
However, due to various non-cash IFRS adustments, the group’s final
results reflected an accounting loss.

  •   intrinsic net asset value per share for the year ended 31 August
      2020 to be between 517 cents and 521 cents, which is between
      0.7% and nil% lower than the previous comparable period’s 521
      cents; and
  •   net asset value per share for the year ended 31 August 2020 to
      be between 414 cents and 418 cents, which is between 0.7% and
      1.7% higher than the previous comparable period’s 411 cents.

Further details will be provided in the final Trematon group results
for the year ended 31 August 2020, due to be published on SENS on or
about 24 November 2020.

The financial information on which this trading statement is based
has not been reviewed or reported on by the Trematon group's auditors
in accordance with either 3.4b(viii)(1)(aa) or 3.4b(viii)(1)(bb) of
the Listings Requirements of the JSE Limited.

Cape Town
12 November 2020

JSE Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)

Date: 12-11-2020 03:00:00
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