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Stenprop Limited Issues Financial Forecast Information for The Year Ending 31 March 2016
Hamilton, Bermuda: 14 August, 2015 - Stenprop currently holds a primary listing on the Bermuda Stock Exchange (“BSX”) and a secondary listing on the Alternative Exchange (“AltX”) of the JSE. Stenprop intends transferring its listing from the AltX to the “Real Estate – Real Estate Holdings and Development” sector of the Main Board of the JSE during the third quarter of the current financial year. The JSE will designate the Company’s Main Board listing as its primary listing; the Company will therefore have dual primary listings.
In order to qualify for the JSE’s Main Board, the JSE Listings Requirements require that three years of audited financial statements are presented. To date, the Company has published two years of audited financial statements, being for the period from incorporation to 31 March 2014 and for the year ended 31 March 2015. The Company is therefore required by the JSE to publish a forecast statement of comprehensive income for the year ending 31 March 2016.
Accordingly, the purpose of this announcement is to present such forecast statement of comprehensive income, including the notes thereto (the “Forecast”). The Forecast was reported on by Deloitte & Touche (South Africa), who have issued an unmodified independent reporting accountants’ report (the “Report”). The Forecast and Report have been published and are available on the Company’s website at www.stenprop.com/investor-relations; alternatively they are available for inspection at the Company’s registered address being 20 Reid Street, Williams House, 3rd Floor, Hamilton, HM 11, Bermuda.
The Forecast, including the assumptions on which it is based and the financial information from which it is prepared, are the responsibility of the directors. The Forecast has been prepared in compliance with IFRS, JSE Listings Requirements and in accordance with the group’s accounting policies.
The details may be found under Regulatory Announcements here:
http://stenprop.com/investor-relations/