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Trading statement for six months ended 30 September 2024 and change in key performance metric
Goldrush Holdings Limited
(previously RECM and Calibre Limited)
(Incorporated in the Republic of South Africa)
Registration number 2009/012403/06
Preference Share Code: GRSP
ISIN: ZAE000145041
("Goldrush" or "the Company")
TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2024 AND CHANGE IN KEY
PERFORMANCE METRIC FOR TRADING STATEMENT PURPOSES
Shareholders are referred to the announcement released on SENS on 24 July 2024 wherein, inter alia,
they were advised that the Company had changed its name from RECM & Calibre Limited to Goldrush
Holdings Limited, following a decision by the board of directors ("the Board") and ordinary
shareholders of Goldrush that Goldrush Group (Pty) Ltd should be regarded as a permanent asset of
the Company. As a consequence of this decision, the Company is deemed not to be an Investment
Entity anymore and has to change its accounting policy from that of an Investment Entity to one of
consolidation.
CHANGE IN KEY PERFORMANCE METRIC FOR TRADING STATEMENT PURPOSES
As an Investment Entity, Goldrush had adopted Net Asset Value ("NAV") per share as its key
performance metric for trading statement purposes with effect from the initial listing of its preference
shares on the JSE Limited ("JSE"). Following the change in accounting policy and Goldrush no longer
being regarded as an Investment Entity, the Board is of the view that using NAV per share as the
Company's key performance metric is no longer appropriate.
Shareholders are advised that the Company will adopt headline earnings per share and earnings per
share as its key performance metrics for trading statement purposes with effect from the 31 March
2025 reporting period.
TRADING STATEMENT
In terms of 3.4(b) of the Listings Requirements of the JSE ("the Listings Requirements"), a listed
company is required to publish a trading statement as soon as it is satisfied that a reasonable degree
of certainty exists that the financial results for the next period to be reported on will differ by at least
20% from the previous corresponding period as they relate to its existing trading statement metric.
Accordingly, in compliance with the Listings Requirements, shareholders are advised that, as at 30
September 2024, Goldrush expects its NAV per share to be between 1 467 and 1 600 cents. This
represents an increase of between 20% and 30% from its NAV per share of 1 223 cents as at 30
September 2023. A contributing factor to the increase in NAV per share is the change in accounting
policy from that of an Investment Entity to one of consolidation and the corresponding reversal of a
deferred tax liability amounting to R52,7m.
The contents of this trading statement and the financial information on which it has been based have
not been reviewed, audited or reported on by the Company's auditors.
Shareholders are advised that the results for Goldrush for the six months ended 30 September 2024
are expected to be released on SENS within the next 7 days.
Cape Town
14 November 2024
JSE Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 14-11-2024 07:05:00
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