In accordance with paragraph 220.127.116.11 of the ZAR X Listings Requirements, shareholders are hereby advised that a reasonable degree of certainty exists that the profit after tax for the six months ended on 31 March 2021 will be materially lower than for the comparative six-month period ended 31 March 2020, although the operating results are improved.
The decreased profit in comparison with the six-month period ended 31 March 2020 is due to the reversal of the deferred taxation liability of R89.2 million in the 6 months ended 31 March 2020 as a result of Orion listing on ZAR X and the and regaining of its REIT status. For purposes of clarification, the deferred taxation liability was raised during the prior period ended 30 September 2019 when the Company delisted from the JSE.
Orion expects to publish its financial results for the six months ended 31 March 2021 on or about 31 May 2021.
BY ORDER OF THE BOARD
AcaciaCap Advisors Proprietary Limited
31 May 2021