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Availability of integrated annual report, change statement and notice of annual general meeting

30 April 2019

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor” or “the Company”)

AVAILABILITY OF INTEGRATED ANNUAL REPORT, CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING

AVAILABILITY OF INTEGRATED ANNUAL REPORT

Trencor will on Friday, 3 May 2019, post to shareholders its integrated annual report, incorporating its audited annual financial statements for the year ended 31 December 2018 (“audited results”), which has changed from the reviewed condensed consolidated financial statements for the year ended 31 December 2018 (“reviewed results”) released on the Stock Exchange News Service on 29 March 2019 as presented in the Change Statement below.

The integrated annual report is available on the Company’s website: http://www.trencor.net/financial-reports/2018-reports/

The Company’s independent auditors have issued an unmodified audit opinion.  We confirm that there has been no change to the unmodified review conclusion expressed by the independent auditors referenced in the reviewed results.

CHANGE STATEMENT

The audited results contain the following changes from the reviewed results, namely:

Condensed consolidated statements of profit or loss and other comprehensive income for the year ended 31 December 2018:

Audited results Reviewed results
30 April 2019 29 March 2019 Change
Rm Rm Rm
Revenue 543 619 (76)
Other operating expenses (108) (184) 76

The change in presentation of revenue and other operating expenses resulted from the application of the revised accounting treatment of revenue from managed leases. In the reviewed results leasing income was disclosed on a gross basis but is now disclosed net of direct leasing expenses in the audited results.

The reclassification above has no other impact on the condensed consolidated statements of profit or loss and other comprehensive income for the year ended 31 December 2018, including specifically no impact on profit before tax, profit for the year, total comprehensive loss for the year, basic earnings and headline loss. The condensed consolidated statements of financial position, changes in equity and cash flows for the year ended 31 December 2018 are unaffected.

NOTICE OF ANNUAL GENERAL MEETING

The annual general meeting of the Company will be held on Tuesday, 25 June 2019 at Trencor, 13th Floor, The Towers South, Heerengracht, Cape Town, commencing at 10:00 to transact the business as stated in the notice of the annual general meeting forming part of the integrated annual report. The salient dates pertaining to the annual general meeting are as follows:

2019
Record date to determine which shareholders are entitled to receive the notice of the annual general meeting Tuesday, 18 April
Last day to trade in order to be eligible to attend and vote Tuesday, 11 June
Record date to determine which shareholders are entitled to attend and vote Friday, 14 June
Forms of proxy to be lodged, for administrative purposes, by 10:00* on Monday, 24 June

* proxies not lodged by this time may be handed to the scrutineers of the annual general meeting immediately prior to the meeting.

Trencor Services (Pty) Ltd
Secretaries

30 April 2019

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)