SENS Announcements

Trading Statement

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: AEE
ISIN: ZAE000195731
("AEEI" or “the Company”)

TRADING STATEMENT

In terms of paragraph 3.4(b) of the JSE Listings Requirements,
listed companies are required to publish a trading statement
as soon as the board of directors is satisfied that a
reasonable degree of certainty exists that the financial
results for the period to be reported on next will vary by 20%
or more when compared to those of the prior reporting period.

The directors of AEEI believe, with a reasonable degree of
certainty, that the Group’s basic earnings per share (“EPS”)
for the year ended 31 August 2018 will be between 1006.30
cents and 1 025.72 cents per share, compared to 97.10 cents in
the prior year. The expected increase in EPS is mainly as a
result of a once-off gain from a deemed disposal of a
subsidiary.

The Company also expects that the Group’s headline earnings
per share (“HEPS”) for the year ended 31 August 2018 will be
between 14.75 cents and 33.73 cents per share, compared to
94.89 cents per in the prior corresponding period,
representing a decrease of between 64% and 84%. The expected
decrease in HEPS is mainly as a result of an once-off fair
value adjustments included in the prior year.

The Company further expects that the Group’s normalised
headline earnings per share for the year ended 31 August 2018,
will be between 27.85 cents and 29.93 cents per share,
compared to the 10.38 cents in the prior corresponding period.
Normalised headline earnings are defined as earnings from
operations excluding non-recurring items and once-off
adjustments.

The abovementioned financial information on which this trading
statement is based has not been reviewed or reported on by the
Company’s auditors. The financial results for AEEI for the
year ended 31 August 2018 is expected to be released on SENS
on or about 13 November 2018.

Cape Town
09 November 2018

PSG Capital

Date: 12/11/2018 07:05:00
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