Shareholders are reminded that the Company has changed its year end to 30 September and accordingly the results for the six months ended 31 March 2020 are compared to the first six months of the prior comparable period being the six months ended 31 December 2018.
In accordance with paragraph 18.104.22.168 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 2020 will be materially higher than for the previous six-month period ended 31 December 2018.
The increase is primarily 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 on 23 April 2020 and regaining its REIT status. For purposes of clarification, the deferred taxation liability was raised during the 12 month interim period ended 30 June 2019 and not during the six months ended 31 December 2018 as at this date the Company was a REIT.
Orion expects to publish its financial results for the six months ended 31 March 2020 on or about 3 June 2020
BY ORDER OF THE BOARD
01 June 2020
Arbor Capital Sponsors
02 June 2020