W G Wearne Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005983/06)
(JSE code: WEA ISIN: ZAE000078002)
(“Wearne” or “the company”)
Trading update
In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on will differ by at least 20% or more from a profit forecast previously provided to the market.
Shareholders are referred to the forecast financial information for the year ended 28 February 2006, published in the prospectus to shareholders dated 10 February 2006, wherein it was advised that earnings per share (“EPS”) would be 12.25 cents (2005: 8.56 cents) and headline earnings per share (“HEPS”) would be 11.90 cents (2005: 7.14cents).
Shareholders are advised that Wearne is currently finalising its results for the year ended 28 February 2006 and are advised that it is expected that EPS and HEPS would be 15% – 25% higher than those of the forecast financial information respectively.
The above information has not been reviewed or reported on by the company’s auditors. The company’s results for the year ended 28 February 2006 are expected to be published on SENS in the middle of May 2006.
25 April 2006
Designated Adviser
Exchange Sponsors
Warning: The listing of ordinary shares in the company is on ALTx. Investors are advised of the risks of investing in a company listed on ALTx. Investors are advised that the JSE does not guarantee the viability or the success of a company listed on ALTx. In terms of the Listings Requirements, the company is obliged to appoint and retain a Designated Adviser, which is required to, inter alia, attend all board meetings held by the company to ensure that all the Listings Requirements and applicable regulations are complied with, approve the Financial Director of the company and guide the company in a competent, professional and impartial manner. If the company fails to retain a Designated Adviser, it must make arrangements to appoint a new Designated Adviser within 10 business days, failing which the company faces suspension of trading of its securities. If a Designated Adviser is not appointed within 30 days of its suspension, the company faces the termination of its listing without the prospect of an appropriate offer to minority shareholders.