Aveng - trading statement

Thursday 21st February, 2019
Shareholders are advised that the headline loss and basic loss for the six months ended 31 December 2018 have worsened by more than 100% compared to the six months ended 31 December 2017. The headline loss for the period will be between R742 million and R820 million, compared to a loss of R335 million reported in the comparative period, whilst the basic loss in earnings will be between R876 million and R967 million, compared to a loss of R347 million reported in the same comparative period.

It should be noted that the HEPS loss and EPS loss figures 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 31 December 2018 has increased to 12 676.3 million (396.8 million at 31 December 2017). 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 redemption of the convertible bond on 25 September 2018.

As a result, the headline loss per share (\"HEPS loss\") and the basic loss per share (\"EPS loss\") for the six months ended 31 December 2018 will be more than 100% better than the comparative period.

The HEPS loss will be between 5.9cps and 6.5cps, compared to a reported loss of 84.4cps to 31 December 2017, while the EPS loss will be between 6.9cps and 7.6cps, compared to a reported loss of 87.7cps to 31 December 2017.

The Group will release its results for the six months ended 31 December 2018 on 25 February 2019.
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