News
Net asset value (NAV) of Trencor
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor”)
NET ASSET VALUE (“NAV”) OF TRENCOR
Based on the relevant spot exchange rates and the listed share prices of Textainer Group Holdings Limited (NYSE: TGH) (“Textainer”), the NAV of Trencor at these dates were as follows:
| 31 December 2017 | 30 September 2017 | |||
| Textainer share price | US$21,70 | US$17,15 | ||
| Spot exchange rate US$1 equals | R12,37 | R13,52 | ||
| R million | R per Trencor share | R million | R per Trencor share | |
| Beneficiary interest in Textainer | 7 323 | 41,35 | 6 325 | 35,72 |
| Beneficiary interest in TAC Limited (“TAC”) (US GAAP NAV) | 1 004 | 5,67 | 1 095 | 6,18 |
| Cash (excluding in Textainer and TAC) | 1 095 | 6,19 | 1 235 | 6,98 |
| Other net assets (refer to note below) | 195 | 1,10 | 245 | 1,38 |
| Total NAV | 9 617 | 54,31 | 8 900 | 50,26 |
Note: All numbers at 31 December 2017 are actuals with the exception of the provisional R195 million described as “Other net assets”. Included in this number is the IFRS adjustment required to convert the results of TAC from US GAAP into IFRS. Any change to this provisional number is expected to be immaterial.
These numbers have been prepared by management and are unaudited.
Trencor Services (Pty) Ltd
Secretaries
8 May 2018
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)