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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Liberty One Lithium Corp | NEO:LBY | NEO | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
RNS Number:3870U Liberty Group Ld 19 January 2004 LBH LIBU LIBERTY GROUP LIMITED AND LIBERTY HOLDINGS LIMITED - TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT LIBERTY GROUP LIMITED Registration number 1957/002788/06 Alpha Code LGL Issuer Code LIBU ISIN Code ZAE000024543 Incorporated in the Republic of South Africa LIBERTY HOLDINGS LIMITED Registration number 1968/002095/06 Alpha Code LBH ISIN Code ZAE000004032 Incorporated in the Republic of South Africa TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT Liberty Group"s results for the year ended 31 December 2003 will be released on 3 March 2004, but the Board has deemed it appropriate to give shareholders an early indication of the year"s performance. Notwithstanding the fact that the long-term insurance industry has experienced a tough operating environment in 2003, Liberty"s new business premiums were marginally higher than in 2002 (both in absolute terms and on an indexed basis), and initial indications are that new business margins were maintained in the range experienced in recent years and net cash inflows from insurance operations remained strong. Expenses have been curtailed and are within the actuarial assumption on a per policy basis. The weighted average investment return for 2003 on the equity, managed and foreign assets portfolios for 2003 was +12,5% versus -9,5% in 2002. Despite the positive impact on the life fund operating surplus of the turnaround in investment returns, a year-on-year reduction in headline earnings is still anticipated as a result of the inclusion in 2002 of releases from the life fund, due mainly to reduced expenses on a per policy basis in that year (as per the Group"s interim announcement). Initial estimates of headline earnings per share (which take the impact of investment returns on the life fund operating surplus into account) indicate that the year-on-year decrease is expected to be between 10% and 15%. Shareholders are cautioned that the year-end actuarial valuation has not been completed and finalisation of this valuation may impact upon the initial estimate of headline earnings per share. The company"s capital position remains strong and it is not anticipated that the capital adequacy cover will have deteriorated from the level at 30 June 2003 of 2,6. Similarly, embedded value per share is expected to be higher than the value shown at 30 June 2003 of R53,42. The information contained in this announcement has not been reviewed and reported on by the company"s auditors and consequently holders of securities must exercise caution in their securities dealings until the publication of the financial results for the year ended 31 December 2003. Liberty Holdings Limited is the holding company of Liberty Group Limited and has no other investments and carries on no other business other than that related to its investment in Liberty Group Limited. Consequently, Liberty Holdings Limited shareholders are referred to the comments made above in respect of Liberty Group Limited. Date: 19 January 2004 SPONSOR: Merrill Lynch South Africa (Proprietary) Limited This information is provided by RNS The company news service from the London Stock Exchange END TSTSFAFLUSLSEDF
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