Late submission of reviewed provisional results for the year ended 31 December 2017
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
(“Trencor” or “the Company”)
LATE SUBMISSION OF REVIEWED PROVISIONAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2017, POSSIBLE SUSPENSION OF SHARES AND CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the announcement released on the Stock Exchange News Service on 18 April 2018 advising, inter alia, of a delay in the publication of Trencor’s reviewed provisional results for the year ended 31 December 2017 and confirming that the Company intends publishing its provisional financial results and audited annual financial statements as soon as practically possible.
The reason for the delay in publication is the onerous and time-consuming exercise of converting to IFRS the US GAAP-compliant results of Textainer Group Holdings Limited. The Company expects to be in a position to publish reviewed provisional results for the year ended December 2017 on or before 31 May 2018 and to distribute its audited annual financial statements on or before 30 June 2018.
The Company has lodged a formal objection to a decision taken by the JSE Limited (“JSE”) to suspend trade in Trencor’s shares, with effect from commencement of business on 2 May 2018, in accordance with the Listings Requirements of the JSE pertaining to the periodic publication of financial information and until such time as the Company’s provisional financial results are published and after consideration of any other applicable JSE Listings Requirements.
On the basis of the Company’s formal objection, the JSE has undertaken not to suspend trade in Trencor’s shares, pending its consideration of further representations by the Company herein. The JSE’s final determination is expected within the next few business days.
In view of the above, shareholders are advised to exercise caution when dealing in Trencor shares until a further announcement is made.
Trencor Services (Pty) Ltd
2 May 2018
Rand Merchant Bank (A division of FirstRand Bank Limited)