In accordance with paragraph 7.2.1.12 of the ZAR X Listings Requirements, shareholders are hereby advised that a reasonable degree of certainty exists that the Basic Earnings per share will be approximately 324% higher and Headline Earnings 50% lower for the year ended 30 June 2022 than for the comparative nine-month period ended 30 June 2021. Shareholders are reminded that the Company changed its year-end from September to June during the comparative period.
The decreased Basic Earnings per share is primarily due to extensive repairs and renovation costs mostly incurred at several of the retail properties. These are mostly considered once-off in nature and the Company continues to experience sustainable growth, expecting an improvement in the next year due to lower vacancies and new tenants.
Orion expects to publish its audited financial results for the year ended 30 June 2022 on or before 30 September 2022.
BY ORDER OF THE BOARD
Johannesburg
6 September 2022
Appointed Advisor
AcaciaCap Advisors Proprietary Limited
Johannesburg
6 September 2022