Investment holdings firm Remgro said on Monday it expected full-year headline earnings per share for the period to end-June to be up to 35% higher than the previous period, largely as a result of a positive fair value adjustment. The R687m adjustment related to the decrease in value of bondholders’ exchange options, the company said in a Sens statement. That compares with a negative option remeasurement of R730m in 2016. The previous year’s results were also affected by one-off transaction costs amounting to R788m, which related to the Mediclinic International Limited rights issue and Al Noor Hospitals Group transaction, the company said. In 2016 Remgro issued exchange bonds in terms of its acquisition of Mediclinic shares, and obtained bridge financing as part of its acquisition of Al Noor shares. Headline earnings per share were expected to be between R146.67 and R151.15, or between 31% and 35% higher, the company said. In late-morning JSE trade Remgro was up 0.33% at R215.95, but...
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