08 Jun - 3 min read

Trading Statement

Trading Statement

NUTRITIONAL HOLDINGS LIMITED
(Registration number: 2004/002282/06)
(Incorporated in the Republic of South Africa)
(Share Code: NUT ISIN Code: ZAE000298568)
(“Nutritional Holdings” or “the Company”)


TRADING STATEMENT


In terms of paragraph 3.4(b) of the JSE Listing Requirements, companies are required to
publish a trading statement as soon as they are satisfied that a reasonable degree of
certainty exists that the financial results for the period to be reported on will differ by at least
20% from the financial results for the previous corresponding period or a profit forecast
previously provided to the market in relation to such period.

Shareholders are advised that as a result of the Company’s auditors having expressed a
qualified opinion on the Abridged Audited Consolidated Financial Statements for the year
ended 29 February 2020 due to a change in auditors and the current auditors being unable
to satisfy themselves by alternative means concerning quantities of inventory held at 29
February 2020; and in accordance with the provisions of paragraph 3.18 of the JSE Listing
Requirements, the interim results for the six months ended 31 December 2020, published on
SENS on 14 December 2020 were required to be reviewed by the Company’s auditors.

During the review process and a review of the control element in terms of IFRS 10, it was
noted that the holding company has no control over its subsidiary company, Nutritional
Foods (Pty) Ltd (“Nutritional Foods”). As a result, Nutritional Foods has become an
investment only and no longer a consolidating entity. Shareholders are furthermore
referred to the announcement published on SENS on 19 May 2021, wherein they were
advised that an offer to purchase Nutritional Foods has been conditionally accepted. In
accordance with IFRS 5, Nutritional Foods is accordingly deemed to be held for sale with a
fair value of R15.2 million.

As a result of the above adjustments, the adjusted reviewed condensed interim results for
the six months ended 31 August 2020 (“reviewed interim results”) will differ from the
previously published unaudited reviewed condensed interim results for the six months
ended 31 August 2020 (“unaudited interim results”) and the unaudited condensed
consolidated interim results for the six months ended 31 August 2019 (“prior period results”),
as set out below.

-   the basic and headline earnings per share will be 0.04 cents, being a decrease of 50%
    to the 0.08 cents per share reported in the unaudited interim results, but in excess of a
    300% improvement on the loss of (0.03) cents per share reported in the in the prior
    period results

This financial information has not been reviewed or reported on by the Company’s auditors.

The reviewed interim results are expected to be published on or before 9 June 2021.

JOHANNESBURG
8 June 2021

Designated Advisor
AcaciaCap Advisors (Pty) Ltd

Date: 08-06-2021 04:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.
Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from Nutritional Holdings Limited (JSE:NUT) when you join Listcorp.