MTN
MTN
MTN - MTN Group Limited - Trading Statement
MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
Share code: MTN
ISIN ZAE000042164
("MTN")
TRADING STATEMENT
MTN is currently finalising its financial results for the year ended 31
December 2010, expected to be announced on Wednesday 9 March 2011.
In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE
Limited, issuers 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 upon next will differ by at least 20%
from those of the previous corresponding period.
Shareholders are advised that MTN expects an increase of between 18% and 23%
in Adjusted headline earnings per share ("Adjusted HEPS") for the year ended
31 December 2010 when compared against the previously reported corresponding
period. Attributable earnings per share is expected to differ by between a
negative 5% and a positive 1% and Basic HEPS to decrease by between 3% and 8%
for the same period against those reported for the previous corresponding
period.
The adjustments between Basic HEPS and Adjusted HEPS for the year ended 31
December 2010 are the reversal of the impact of the put options that
shareholders have on the MTN Nigeria and MTN Afghanistan operations, as well
as the impact of MTN Zakhele and the ESOP scheme ("the MTN Zakhele
adjustment"). The MTN Zakehele adjustment includes a reversal of all of the
costs incurred but does not include the reversal of the impact of the shares
issued under the Notional Vendor Finance as these are already reversed in
terms of IFRS.
This trading statement has neither been reviewed nor reported on by MTN`s
external auditors.
The information provided in this announcement does not contain and should not
be construed as containing any forward looking statements or projections of
any nature whatsoever for periods beyond 31 December 2010.
Fairland
4 March 2011
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 04/03/2011 09:10:48 Produced by the JSE SENS Department.
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