TIDMPTMN 
 
RNS Number : 6114Y 
Petmin Limited 
07 September 2009 
 
 
 
PET - Petmin - UPDATED TRADING STATEMENT 
Petmin Limited 
(Incorporated in the Republic of South Africa) 
(Registration number: 1972/001062/06) 
Share code JSE: PET          ISIN: ZAE000076014 
Share code AIM: PTMN 
("Petmin" or "the company") 
 
Updated Trading statement 
In accordance with the JSE`s listing requirements, which stipulate that a 
company has to publish a trading statement if an increase or decrease of more 
than 20% (compared with the previous reporting period) in its basic earnings per 
share and headline earnings per share is expected, and with reference to the 
trading statement published on 7 July 2009, shareholders are hereby advised that 
Headline Earnings per share for the year ended 30 June 2009 are expected to be 
in excess of 22 cents per share, up from 15.31 cents per share for the 12 months 
ended 30 June 2008, an increase in excess of 40% (on 7 July the Trading Update 
indicated an increase in excess of 30%) . 
This growth in headline earnings per share was achieved as a result of managing 
operational costs down and optimising revenues through the considered use of 
long-term off-take agreements (for Petmin's products) with financially sound 
counterparties and currency hedging strategies. The Group's Headline Earnings 
were R121 million, up from R77 million in 2008, an increase of 57%. 
On 7 July it was reported that "Earnings per share" for 30 June 2009 could not 
be determined at the time as the relevant IFRS fair value adjustments had not 
been finalised yet. Petmin can now report that during the year under review 
Petmin increased its interest to an effective 34.9% (2008: 25%) economic 
interest in Veremo Minerals (Pty) Ltd. The resultant fair value on acquisition 
of the additional interest resulted in a share of profit of equity accounted 
investee of R78 million (2008: R303 million) being recognised in income. This is 
an accounting profit and has no impact on cash or Headline Earnings going 
forward. 
 
 
On 7 July it was reported that the company had concluded the sale of Springlake 
Holdings (Pty) Limited ("Springlake") and as a result of delays in meeting all 
the conditions precedent (the sale agreements were signed in the early part of 
2008) , during which period global market conditions dramatically declined, the 
final purchase consideration was adjusted in line therewith and as a result the 
company received proceeds of R 85 million on the sale, resulting in an 
accounting  loss of approximately R 79 million. 
 
 
As a result of the above, Earnings per share for the year ended 30 June 2009 are 
expected to be 21.86 cents per share, down from 75.43 cents per share for the 
year ended 30 June 2008, a decrease of 71%. This is due to the inclusion of R303 
million recognised in income in 2008, on the initial acquisition of the 25% 
investment in Veremo Holdings (Pty) Ltd. 
 
 
It is expected that the Reviewed Results will be published on or about 9 
September 2009. 
 
 
Enquiries: 
Petmin                               Nominated Adviser 
Bradley Doig (COO)                   Numis Securities Limited 
+27 824 597 818                      John Harrison 
                                     +44 207 260 1000 
Sponsor and Corporate Adviser 
River Group 
Andrew Lianos +27 83 44083 65 
07 September 2009 
Johannesburg 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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