In terms of section 3.4 (b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are reasonably certain that the financial results for the current reporting period will be more than 20% different than that of the previous corresponding period.

Shareholders are referred to the Company’s previous trading statement on SENS on 5 June 2020 and are hereby advised that a reasonable degree of certainty exists that for the year ended 31 March 2020, the Company will report a loss per share of between 4 571.1 cents and 4 612.4 cents, as compared to basic earnings (profit) per share of 826.2 cents for the prior year, and headline earnings (profit) per share of between 1 233.8 cents and 1 293.8 cents, being an increase of between 2.8% and 7.8% as compared to headline earnings per share of 1 200.2 cents for the prior year.

Earnings per share of the Company has been negatively impacted inter alia by:

– The downward revaluation of investment properties and impairment of intangible assets and property, plant and equipment relating to its gaming operations;
– The downward revaluation of investment properties and impairment of intangible assets and property, plant and equipment relating to its hotel operations; and
– The impairment of certain exploration assets by its oil and gas exploration interests.

The above information has not been reviewed or reported on by the Company`s auditors. The Company`s provisional results are expected to be published on or about 17 June 2020.

Cape Town
11 June 2020