Further Trading Statement

20 April 2016

(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506


Shareholders are referred to the Further Trading Statement published on 4 April 2016 wherein it was advised that earnings per share (“EPS”), headline earnings per share (“HEPS”) and adjusted HEPS for the year ended 31 December 2015 were expected to be within the ranges set out below:

2015 Expected 2014 Actual
% decrease cps cps
HEPS 5 – 10 493 – 521 548
Adjusted HEPS (which excludes net unrealised foreign exchange gains on translation of long-term receivables) 12 – 17 432 – 458 521
Basic EPS 144 – 149 (239) – (266) 543

It is now advised that Basic EPS for 2015 are expected to be between -69 and -96 cents per share (a decrease between 113% and 118% from that reported for 2014).  The remaining indicators are expected to be within the ranges previously announced.

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

On behalf of the Board

NI Jowell   Chairman

20 April 2016

Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)