Trading Statement

PRL is reasonably certain that its net profit after tax will be US$45 million for the year ended 31 December 2017 compared to a net profit after tax of US$45 million for the year ended 31 December 2016. In ZAR terms, net profit after tax will be ZAR600 million (ZAR656 million net profit after tax for the comparative year), a decrease of 9%.

Pallinghurst is reasonably certain that its loss and headline loss per share will be USc 10.6 for the period to 30 June 2017 compared to a loss and headline loss per share of USc 4.3 for the comparative period to 30 June 2016. In ZAR terms the loss and headline loss per share will be ZAR1.39 (ZAR0.67 loss and headline loss per share for the comparative period).

Pallinghurst is reasonably certain that its net profit after tax will be US$45 million for the year ended 31 December 2016 compared to a net loss after tax of US$149 million for the year ended 31 December 2015, an increase of 130%. In ZAR terms net profit after tax will be ZAR656 million (ZAR1.9 billion net loss after tax for the comparative period), an increase of 135%.

Pallinghurst is reasonably certain that its loss and headline loss per share will be USc 4.33 for the period to 30 June 2016 compared to earnings and headline earnings per share of USc 0.04 for the comparative period to 30 June 2015. In ZAR terms loss and headline loss per share will be ZAR0.67 (ZAR0.05 earnings and headline earnings per share for the comparative period).

Shareholders are informed that Pallinghurst’s Annual Report for the year ended 31 December 2015 (the “Annual Report”) is now available on the Pallinghurst website. The Financial Statements contained within the Annual Report contain no modifications to Pallinghurst’s Audited Annual Results for the year ended 31 December 2015 which were published on the Securities Exchange News Services of the JSE Limited on 30 March 2016.

Pallinghurst is reasonably certain that its loss per share and headline loss per share will be USc 20.0 for the year ended 31 December 2015 compared to earnings and headline earnings per share of USc 7.0, a decrease of 370%, for the year ended 31 December 2014. In ZAR terms Headline Loss Per Share ZAR2.50 (ZAR0.79 Headline Earnings Per Share for the comparative period), a decrease of 417%. This is primarily attributable to decreases in the valuation of Pallinghurst’s investments in Sedibelo Platinum Mines Ltd, Gemfields plc and Jupiter Mines Limited, which are held at fair value.  

In compliance with paragraph 3.63 – 3.66 of the JSE Listing Requirements, the following information is disclosed by the Company: Name : Mr Arne H. Frandsen Category of person : Chief Executive Nature of transaction : Purchase of shares Nature of interest : Direct, beneficial Date of transaction : 11 December 2015 Class of security    : Ordinary shares: on‐market Number of shares : 509,909 Volume weighted average price per share : R3.12 Total value of transaction : R1,591,353.90 Highest price per share : R3.30 Lowest price per share : R3.06 Pre‐approval obtained : Yes

Pallinghurst is reasonably certain that earnings and headline earnings per share will be USc 7.00 for the year ended 31 December 2014 an increase of 250% compared to earnings and headline earnings per share of USc 2.00 for the year ended 31 December 2013. The significant increase in earnings and headline earnings year on year is primarily attributable to increases in the valuation of Pallinghurst’s investments in Gemfields plc and Jupiter Mines Limited, which are held at fair value. The financial information on which this trading statement is based has not been reviewed or reported on by Pallinghurst’s auditors. Pallinghurst’s financial results for the year ended 31 December 2014 are expected to be released on SENS during the week commencing...Read More →