(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
SHARE CODE: AEG
("Aveng", "the Company" or "the Group")
In accordance with section 3.4 (b) of the JSE Listings Requirements, shareholders are advised that
the basic loss in earnings will improve by more than 100% and will be between R1 631 million and
R1 731 million compared to a R3 523 million loss reported in the same comparative period.
The headline loss for the period will be between R1 495 million and R1 595 million, compared to a
restated headline loss of R1 563 million in the comparative period. The prior year headline loss has
been restated from R 1 679 million to R1 563 million (HEPS loss decreasing to 290.1cps from
311.6cps). This follows from an extensive assessment of asset health within Moolmans carried out at
the end of the prior year and beginning of the current year. This resulted in certain costs being
disaggregated within already recorded cost of sales to better reflect how the asset components are
utilised. Consequently these costs have been reflected as a loss on derecognition of components
following early component failure.
It should be noted that the HEPS loss and EPS loss values have been impacted by an increase in the
weighted average number of shares in the period. The weighted average number of shares in issue at
30 June 2019 has increased to 15 995.5 million (538.8 million at 30 June 2018). The increase in the
number of shares in issue is as a result of 4 926.8 million shares issued in the previously announced
rights issue on 4 July 2018 and the 14 046 million shares issued relating to the early redemption of
the convertible bond on 25 September 2018. As a result, the headline loss per share and the basic
loss per share for the year ended 30 June 2019 have improved by more than 100% compared to the
The HEPS loss will be between 9.3cps and 10.0cps, compared to a restated loss of 290.1cps at 30
June 2018, while the EPS loss will be between 10.2cps and 10.8cps, compared to a reported loss of
653.9cps in the comparative period.
The Group will release its results for the year ended 30 June 2019 on 28 August 2019.
The financial information contained in this trading statement has not been reviewed nor reported on
by Aveng's independent external auditors.
UBS South Africa Proprietary Limited
27 August 2019
Group Executive: Strategy & Investor Relations
Tel: 011 779 2979
Date: 27/08/2019 02:40:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.