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SPANJAARD LIMITED - Updated Trading Statement for the year ended 29 February 2020

2020/06/30 09:00:00

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                    Updated Trading Statement for the year ended 29 February 2020

SPANJAARD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1960/004393/06)
Share code: SPA ISIN: ZAE000006938
('the Company”)

UPDATED TRADING STATEMENT FOR THE YEAR ENDED 29 FEBRUARY 2020

We refer to our trading statement issued on 23 June 2020 in which we advised
shareholders that the earnings per share and headline earnings per share for the
29 February 2020 was expected to be to reflect earnings of 8.5 cents and 9.9 cents
respectively, which were more than 65% lower than the earnings and headline
earnings from those of the previous corresponding period.

In terms of paragraph 3.4(b)(iv) of the JSE Limited’s Listings Requirements, issuers are
required to publish another trading statement if it is reasonably certain that the
previously issued trading statements is no longer correct.

Due to a material adjustment that needed to be made to taxation and deferred
taxation, the earnings per share and headline earnings per share is now expected to
reflect earnings of 26.1 cents and 27.5 cents respectively for the year ended
29 February 2020, which is within 20% of the earnings and headline earnings of
30.7 cents per share and 31.6 cents per share respectively for the audited results for
the year ended 28 February 2019.

The financial information on which this trading statement is based, has not been
reviewed and reported on by the Company’s auditors.

The results for the year ended 29 February 2020 are expected to be published on or
about 14 July 2020.

By Order of the Board
Johannesburg
30 June 2020

Sponsor
Arbor Capital Sponsors

Date: 30-06-2020 09:00:00
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