Delta EMD - Share Price and SENS


DTA - Delta EMD Limited - Further cautionary announcement DTA DTA - Delta EMD Limited - Further cautionary announcement Delta EMD Limited (Incorporated in the Republic of South Africa) Registration number 1919/006020/06 ISIN: ZAE000132817 Share code: DTA ("the Company") FURTHER CAUTIONARY ANNOUNCEMENT Shareholders are referred to the cautionary announcements released on SENS on 18 January 2010, 1 March 2010, 14 April 2010, 27 May 2010 and 6 July 2010, wherein shareholders were advised that the Company has commenced a process intended to realise value from its last remaining operation, being Delta EMD South Africa, which process might result in the disposal of that operation. Further to the aforementioned announcements, shareholders are advised that the process is ongoing and might have a material effect on the price of the Company's securities and should continue to exercise caution when dealing in the Company's securities until a further announcement is made. 18 August 2010 Nelspruit Merchant bank and sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Legal advisor Webber Wentzel Attorneys Date: 18/08/2010 10:00:02 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. 10:00:00 2010/08/18
DTA - Delta EMD Limited - Unaudited group results for the six months ended 27 DTA DTA - Delta EMD Limited - Unaudited group results for the six months ended 27 June 2010 and declaration of a special dividend DELTA EMD LIMITED (Formerly Delta Electrical Industries Limited) Registration number: 1919/006020/06 Share code: DTA ISIN: ZAE000132817 ("Delta EMD" or "the Group") UNAUDITED GROUP RESULTS FOR THE SIX MONTHS ENDED 27 JUNE 2010 AND DECLARATION OF A SPECIAL DIVIDEND Condensed Group Statement of Comprehensive Income Unaudited Audited six months to year to June December 2010 2009 2009 Note R'000 R'000 R'000 Revenue 198 898 276 702 478 122 Profit before interest, depreciation, closure costs, impairment and taxation 120 683 101 117 154 854 Depreciation (9 931) (11 950) (20 915) Closure costs reversal 51 975 - 81 748 Impairment reversal 316 627 7 155 Net foreign exchange gains/(losses) 1 672 (3 136) (4 783) Operating profit 164 399 86 658 218 059 Interest received 5 748 9 835 17 123 Profit before taxation 170 147 96 493 235 182 Taxation (31 736) (38 145) (67 493) Normal taxation (24 803) (28 312) (42 910) Secondary taxation on companies (3 933) (9 833) (24 583) Capital gains taxation on disposal of the industrial services division (3 000) - - Profit for the period 138 411 58 348 167 689 Other comprehensive income (Decrease)/Increase in foreign currency translation reserve (1 898) (264) 1 512 Proceeds on disposal of treasury shares - 2 280 3 949 Total comprehensive income for the period 136 513 60 364 173 150 Attributable to equity holders of parent company Profit for the period 138 411 58 348 167 689 Total comprehensive income for the period 136 513 60 364 173 150 Headline earnings attributable to ordinary shareholders 1 81 780 56 840 90 389 Number of shares in issue (`000) 49 166 49 166 49 166 Weighted number of shares in issue (`000) 49 144 49 060 49 083 Dilutive number of shares in issue (`000) 49 144 49 060 49 105 Attributable earnings per share (cents) - basic 281.6 118.9 341.6 - diluted 281.6 118.9 341.5 Dividend per share (cents) 80.0 - - Special dividend per share (cents) - 200.0 500.0 Condensed Group Statement of Financial Position Unaudited Audited six months to year to June December 2010 2009 2009 R'000 R'000 R'000 ASSETS Property, plant and equipment 278 265 287 079 282 412 Non-current assets held for sale 9 856 9 599 15 957 Non-current asset 1 051 1 051 1 051 Bank balances and cash 213 109 351 254 216 846 Current assets 194 578 211 496 222 664 Outstanding proceeds from asset disposal 80 450 - - Total assets 777 309 860 479 738 930 EQUITY AND LIABILITIES Total shareholders' funds 620 164 557 602 522 964 Deferred taxation liabilities 57 085 61 220 57 085 Non-current liabilities 7 605 23 758 7 229 Capital reduction liability - - - Current liabilities - Trade and other 84 434 96 233 95 245 - Short-term provisions 8 021 121 666 56 407 Total equity and liabilities 777 309 860 479 738 930 Net asset value per share (cents) 1 261 1 134 1 064 Condensed Group Statement of Cash Flows Unaudited Audited six months to year to June December 2010 2009 2009 R'000 R'000 R'000 Cash generated by trading 45 055 96 653 140 803 Decrease in working capital 34 158 119 096 105 760 Cash (utilised)/generated by operations 79 213 215 749 246 563 Net interest received 5 748 9 835 17 123 Taxation paid - normal (49 611) (776) (774) Taxation refund - capital gains taxation - - (24 583) Cash (outflow)/inflow from operating activities 35 350 224 808 238 329 Replacement capital expenditure (5 784) (5 366) (13 056) Proceeds on disposal of land, property, plant and equipment 6 440 2 073 2 313 Net cash inflow before financing activities 36 006 221 515 227 586 Dividend paid - normal (39 313) - - - special - (98 162) (245 586) Proceeds on disposal of treasury shares - 701 1 509 Net (decrease)/increase in cash and cash equivalents (3 307) 124 054 (16 491) Cash and cash equivalents at beginning of period 216 846 230 077 230 077 Currency translation of cash in foreign subsidiary (430) (2 877) 3 260 Cash and cash equivalents at end of period 213 109 351 254 216 846 Group Statement of Changes in Equity Share Foreign capital currency and translation Treasury premium reserve shares R'000 R'000 R'000 Balance at 27 December 2008 4 856 56 254 (1 135) Total comprehensive income for the period - (30 696) 954 Dividend paid - special - - - Balance at 27 December 2009 4 856 25 558 (181) Total comprehensive income for the period - (1 898) - Dividend paid - - - Balance at 27 June 2010 4 856 23 660 (181) Accumu- lated profit Total R'000 R'000 Balance at 27 December 2008 535 425 595 400 Total comprehensive income for the period 202 892 173 150 Dividend paid - special (245 586) (245 586) Balance at 27 December 2009 492 731 522 964 Total comprehensive income for the period 138 411 136 513 Dividend paid (39 313) (39 313) Balance at 27 June 2010 591 829 620 164 Notes Unaudited Audited six months to year to June December 2010 2009 2009 R'000 R'000 R'000 1. Reconciliation between attributable earnings and headline earnings Attributable earnings after taxation 138 411 58 348 167 689 Impairment (overprovided) (316) (627) (7 155) Profit on disposal of fixed assets (80 450) (881) (1 695) Taxation effect 24 135 - - Headline earnings attributable to ordinary shareholders 81 780 56 840 158 839 Attributable headline earnings per share (cents) - basic 166.4 115.9 323.6 - diluted 166.4 115.9 323.5 2. Basis of presentation The Group is a company domiciled in South Africa. The unaudited condensed consolidated interim financial results at and for the half-year ended 27 June 2010 comprise the company and its subsidiaries (the `Group'). The Group's principal accounting policies have been applied consistently over the current and prior financial years. The Group's condensed consolidated interim financial results have been prepared in accordance with the recognition and measurement criteria of International Financial Reporting Standards (IFRS), interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC) and the presentation and disclosure requirements of International Accounting Standard (IAS) 34: Interim Financial Reporting, the Companies Act of South Africa, as well as the AC 500 standards as issued by the Accounting Practices Board or its successor. 2.1 New accounting policies adopted The Group has adopted IAS 1 Presentation of Financial Statetments (Revised) (IAS 1). This standard requires the preparation of a "Statement of Comprehensive Income" which replaces the income statement. It had no impact on the recognition and measurement of assets and liabilities and consequently had no impact on profit or loss or equity for the period. 2010 2009 2009 R'000 R'000 R'000 3. Commitments Capital commitments - authorised but not contracted 8 285 1 705 6 442 Capital commitments - contracted 3 890 10 827 5 194 12 175 12 532 11 636 Operating lease commitment 609 797 1 207 Other - 1 156 - Comment on results HALF-YEAR RESULTS The gain realised on the sale of the Group's Kooragang Island residue disposal site, together with a write back of the remaining rehabilitation provision for that site, provided exceptional earnings of R108.3 million. Inclusive of those exceptional earnings, the Group's earnings for the half-year totalled R138.4 million (2009: R58.3 million), and the Group's headline earnings, which exclude the gain realised on the sale of the Kooragang Island residue disposal site, totalled R81.8 million (2009: R56.8 million). The Group's earnings per share for the half-year were 281.6 cents (2009: 118.9 cents), and headline earnings per share for the half-year were 166.4 cents (2009: 115.9 cents). First half sales volumes were not enhanced by the one-off sales enjoyed during the same period last year and were further reduced by relatively soft market demand and Delta EMD's less attractive Rand denominated selling prices. Gross sales revenue reduced to R198.9 million due to reduced sales volumes and lower average selling prices, which resulted from a less favourable sales mix. Operating profit, inclusive of the R132.4 million profit related to the disposal of the Kooragang Island residue disposal site, totalled R164.4 million (2009: R86.7 million). The Group's operating profit also includes R3.21 million of ongoing overhead costs associated with the Group's former Australian operation (2009: R6.24 million), which continue to be reduced. Interest income for the half-year totalled R5.7 million (2009: R9.8 million), and profit before taxation totalled R170.1 million (2009: R96.5 million). The Group's first half taxation charge totalled R31.7 million (2009: R38.1 million) and included a R3.9 million secondary taxation charge in respect of the Group's 2009 final dividend (2009: R9.8 million). The Group's cash balances reduced to R213.1 million from the 2009 year-end cash balances of R216.8 million, after payment of R39.3 million of dividends and R49.6 million of taxation. PERFORMANCE OF THE DELTA EMD BUSINESS Poor global economic conditions resulted in lower demand for alkaline batteries and a contraction of the global alkaline grade EMD market. The majority of Delta EMD's sales were made in Rand denominated selling prices and the continued strengthening of the Rand against the US Dollar, Euro and Yen reduced Delta EMD's price competitiveness and our alkaline grade market share. Contribution during the period reduced as a result of lower sales volumes, the lower average selling prices that resulted from a less favourable sales mix, and higher costs of sales. Increased energy costs, reduced production levels and additional planned maintenance contributed to the higher costs of sales. Production levels were reduced during the first half as planned to maintain desired stock levels, to allow for equipment maintenance, and to prepare for the production of a new premium grade product. Reduced production resulted in a substantial under-recovery of manufacturing overheads, which further reduced Delta EMD's operating profit. Operating cash flows remained favourable with effective management of working capital and well managed capital expenditures. PROSPECTS Delta EMD's second half sales volumes are expected to be broadly in line with first half sales volumes, as a recovery in demand for alkaline grade EMD is not expected until 2011, and absent a weakening of the Rand, Delta EMD's Rand denominated selling prices are likely to remain less competitive. Sales volumes are expected to be sustained through additional sales of lower grade EMD, resulting in a less favourable sales mix and lower average selling prices. Delta EMD's operating profit for the second half is expected to be broadly in line with first half levels due to better recovery of manufacturing overheads. Increased production during the second half is expected to require some additional working capital. Delta EMD's development of a premium alkaline grade product continues successfully and is expected to present additional market opportunities during 2011. The above forecast has not been reviewed and reported on by the company's external auditors. DISPOSAL OF THE GROUP'S REMAINING AUSTRALIAN PLANT SITE The demolition of structures and equipment on the Group's former Australian plant site is expected to conclude during the year, and efforts to market the site continue. An environmental assessment was completed successfully during 2009 and no further remediation or rehabilitation of the site will be required for future use of the site for commercial or industrial purposes. DISPOSAL OF THE DELTA EMD BUSINESS As previously advised, the Group has commenced a process intended to realise value from the Delta EMD business, the Group's last remaining operation. The disposal process is ongoing, having been slowed somewhat by more difficult market and trading conditions. DIRECTORATE As announced on 3 May 2010, Mr Chris Jacobs has resigned as a non-executive director from the board of Delta EMD with effect from 29 April 2010. SPECIAL DIVIDEND Following the disposal of the Kooragang Island site and the resolution of the 2005 tax matter, previously noted as a contingent liability, the board is pleased to announce a special dividend of 300 cents per share. The salient dates for the payment of the special dividend will be as follows: 2010 Last date to trade to qualify for the special dividend Thursday, 16 September Shares to commence trading ex-dividend on the JSE Limited Friday, 17 September Record date Thursday, 23 September Payment date Monday, 27 September The special dividend is declared in the currency of the Republic of South Africa. Share certificates may not be dematerialised or rematerialised between Friday, 17 September 2010 and Thursday, 23 September 2010, both days inclusive. The Group also anticipates the payment of a final dividend, representing an appropriate payout from the Group's underlying 2010 earnings following publication of the Group's 2010 annual results, as well as possibly a special dividend from any surplus cash realised through the eventual sale of the Australian plant site. TG Atkinson P Baijnath Chairman Chief Executive Officer Johannesburg 17 August 2010 Registered office Transfer secretaries 15 Heyneke Street Computershare Investor Industrial Site Services (Proprietary) Limited Nelspruit 70 Marshall Street, Johannesburg, 2001 1200 Marshalltown, 2107 Directors Independent non-executive LB Bird, AC Hicks, BR Wright Non-executive TG Atkinson* (Chairman) Executive P Baijnath (Chief Executive Officer), JS Seymore (CA)SA *USA Sponsor RAND MERCHANT BANK A division of FirstRand Bank Limited Date: 17/08/2010 12:45:02 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. 12:45:00 2010/08/17
DTA - Delta EMD Limited - Fulfilment of Condition Precedent DTA DTA - Delta EMD Limited - Fulfilment of Condition Precedent Delta EMD Limited (Incorporated in the Republic of South Africa) Registration number: 1919/006020/06 ISIN: ZAE000132817 Share Code: DTA ("Delta") FULFILMENT OF CONDITION PRECEDENT Shareholders are referred to the announcement released on SENS on 8 June 2010, wherein shareholders were advised that Delta's subsidiary Delta EMD Australia (Pty) Ltd entered into a contract for sale with Port Waratah Coal Services Limited("PWCS")to sell the Kooragang residue disposal site to PWCS for an amount of AU$ 12 million plus 10% goods and services tax. Shareholders are further advised that the condition precedent to the transaction had been fulfilled on 2 July 2010. Accordingly, the full purchase price of AU$ 12 million plus 10% goods and services tax was received by Delta EMD Australia (Pty) Limited by the completion date. The AU$ 12 million gain on the sale of the Kooragang residue disposal site is expected to incur AU$3.6 million of tax. Nelspruit 7 July 2010 Merchant bank and sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 07/07/2010 10:00:01 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. 10:00:00 2010/07/07
DTA - Delta EMD Limited - Further cautionary announcement DTA DTA - Delta EMD Limited - Further cautionary announcement Delta EMD Limited (Incorporated in the Republic of South Africa) Registration number 1919/006020/06 ISIN: ZAE000132817 Share code: DTA ("the Company") FURTHER CAUTIONARY ANNOUNCEMENT Shareholders are referred to the cautionary announcements released on SENS on 18 January 2010, 1 March 2010, 14 April 2010 and 27 May 2010, wherein shareholders were advised that the Company has commenced a process intended to realise value from its last remaining operation, being Delta EMD South Africa, which process might result in the disposal of that operation. Further to the aforementioned announcements, shareholders are advised that the process is ongoing and might have a material effect on the price of the Company's securities and should continue to exercise caution when dealing in the Company's securities until a further announcement is made. 06 July 2010 Nelspruit Merchant bank and sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Legal advisor Webber Wentzel Attorneys Date: 06/07/2010 09:00:01 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. 09:00:00 2010/07/06
DTA - Delta - Disposal of the group's Australian residue disposal site and DTA DTA - Delta - Disposal of the group's Australian residue disposal site and trading statement Delta EMD Limited (Incorporated in the Republic of South Africa) Registration number: 1919/006020/06 ISIN: ZAE000132817 Share Code: DTA ("Delta" or "the Company" or "the Group") DISPOSAL OF THE GROUP'S AUSTRALIAN RESIDUE DISPOSAL SITE AND TRADING STATEMENT 1. INTRODUCTION In December 2007 Delta shareholders ("shareholders") were informed of the closure of the Group's Australian manufacturing plant, which is owned and operated by Delta EMD Australia (Pty) Limited ("Delta EMD Australia"), including the demolition of plant and equipment and the subsequent sale of the plant site as well as the Kooragang Island residue disposal site ("Kooragang residue disposal site" or "the site"). Shareholders are advised that on 4th June 2010 Delta EMD Australia entered into a contract for sale with Port Waratah Coal Services Limited ("PWCS") to sell the Kooragang residue disposal site (the "Disposal") to PWCS for an amount of AU$12 million plus 10% goods and services tax ("the purchase price"). 2. THE DISPOSAL 2.1 Background The Kooragang residue disposal site is subject to both an Environmental Licence and an Environmental Deed. The Environmental Licence regulates the use of the site and requires the rehabilitation of the site following discontinuation of use. The Environmental Licence was amended during July 2009 allowing for a lower cost rehabilitation of the site. At the time of the amendment the Group's provision for rehabilitation was reduced from AUS$18.6 million to AUS$7.7 million, and the Group recognized AU$10.9 million of operating income in the 2009 financial year. The Environmental Deed was agreed in 1988 by Delta, Delta EMD Australia and the former owner of the site ("Former Owner") and sets out the environmental responsibilities and liabilities of each party with respect to the site. On completion of the contract for sale, Delta, Delta EMD Australia, Former Owner and PWCS, will enter into a new Environmental Deed ("the 2010 Environmental Deed"). Under the 2010 Environmental Deed, PWCS will agree to release and indemnify Delta EMD Australia and Delta from and against all environmental liabilities arising at the site. PWCS has undertaken environmental due diligence and has reviewed Delta EMD Australia's historic compliance with the Environmental Licence. 2.2 Settlement of the purchase price Ten percent of the purchase price was paid to Delta EMD Australia by way of a deposit on 4th June 2010. The balance of the purchase price will be paid to Delta EMD Australia on the date of completion, which is expected to be 10 (ten) business days after the condition precedent listed in paragraph 2.3 below is satisfied. 2.3 Condition precedent Completion is subject to the execution of the 2010 Environmental Deed by Delta, Delta EMD Australia, PWCS and Former Owner. 2.4 Environmental Licence Delta EMD Australia is obligated under the contract for sale to procure the transfer of the Environmental Licence to PWCS. Delta EMD Australia and PWCS will apply to the regulator to have the Environmental Licence transferred to PWCS with effect on the date on which the contract for sale completes and it is currently anticipated that this application will be approved by the regulator. On and from the completion date, PWCS will assume all responsibilities under the Environmental License and will release and indemnify Delta and Delta EMD Australia from and against any liabilities arising from PWCS's failure to fulfill any such responsibilities. Delta EMD Australia will have residual responsibilities under the Environmental Licence until it is transferred. 2.5 Pro forma financial effects of the Disposal The table below sets out the unaudited pro forma financial effects of the Disposal on earnings per share ("EPS"), headline EPS, and net asset value ("NAV") based on the audited results of the Company for the period ended 27 December 2009. The unaudited pro forma financial effects are the responsibility of the directors and have been prepared for illustrative purposes only to provide information about how the Disposal may impact shareholders on the relevant reporting date and because of its nature may not give a fair reflection of the Company's financial position, changes in equity, results of operations or cashflows after implementation of the Disposal or of the Company's future earnings. Before the After the Change Disposal(1) Disposal (2,3,) (%) (cents) (cents) EPS 341.6 554.9 62% Headline EPS 323.6 426.0 32% NAV per share 1 064 1 277 20% Weighted average number of 49 083 000 49 083 000 shares in issue Notes: 1. Extracted from the published audited results of the Company for the period ended 27 December 2009. 2. Adjustments to EPS and headline EPS have been made on the assumption that: 2.1. the Disposal was effective on 27 December 2009 2.2. a company tax rate of 30% was applied. 3. Adjustments to NAV per share have been made on the assumption that: 3.1. the Disposal was effective on 27 December 2009 and 3.2. the proceeds from the Disposal were held as cash on hand. 4. FURTHER TRADING STATEMENT Shareholders are referred to the Group's 2009 Annual Report and the Chairman's Review contained therein, dated 19 February 2010, and to the Trading Statement released by the Group on SENS on 27 May 2010. Shareholders are advised that the Group will recognise a AUS$12 million gain on the sale of the Kooragang residue disposal site, and is expected to incur AUS$3.6 million of tax. Further, given PWCS's assumption of responsibility for rehabilitation of the site, the Group will reduce the outstanding provision for the rehabilitation of the site from AUS$7.7 million to zero, recognizing AUS$7.7 million of operating income, which will not be subject to tax. Consequently, earnings after taxation for the six months ending 27 June 2010 are forecast to be between R130 million and R141 million (2009 R58 million) and headline earnings after taxation for the six months ending 27 June 2010 are forecast to be between R76 million and R87 million (2009 R56 million). EPS for the six months ending 27 June 2010 are forecast to be between 265 cents and 288 cents (2009 118.9 cents) and headline EPS for the six months ending 27 June 2010 are forecast to be between 154 cents and 177 cents (2009 115.9 cents) The forecast financial information on which this Trading Statement is based has not been reviewed and reported on by the Group's external auditors. Nelspruit 7 June 2010 Merchant bank and sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 08/06/2010 09:00:02 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. 09:00:00 2010/06/08
DTA - Delta EMD Limited - Trading Statement for the half year ending 27 June DTA DTA - Delta EMD Limited - Trading Statement for the half year ending 27 June 2010 Delta EMD Limited Incorporated in the Republic of South Africa Registration number 1919/006020/06) Share code: DTA ISIN: ZAE000132817 ("Delta" or "the Group") TRADING STATEMENT FOR THE HALF YEAR ENDING 27 JUNE 2010 Delta shareholders are referred to the Group's 2009 Annual Report, and the Chairman's Review contained therein, dated 19 February 2010. Global economic conditions continue to soften demand for disposable alkaline batteries, with a corresponding contraction of global demand for alkaline grade EMD. The Group's sales of lower priced zinc carbon EMD have replaced alkaline grade EMD sales, resulting in a less attractive sales mix and lower average selling prices during the half year. Production volumes were reduced during the first half as planned to maintain desired stock levels and to allow for equipment maintenance as well as the set up required for the production of the Group's new premium grade product. Reduced production has affected the Group's operating profit due to under-recovery of manufacturing overheads. Operating profit for the half year ending 27 June 2010 is forecast to be lower than for the same period in 2009 due to the one-off sales of offshore stocks made during the first six months of 2009, as well as the less attractive sales mix and increased under-recovery of manufacturing overheads. Product exports from the Nelspruit plant have been affected by the Transnet strike action. The following forecasts anticipate that the current shipment backlog, together with planned volumes, will be shipped and recorded as revenue before 27 June 2010. Earnings and Headline earnings after taxation for the six months ending 27 June 2010 are forecast to be between R26 million and R37 million (2009: Earnings R58 million, Headline Earnings R56 million). Earnings and Headline earnings per share for the six months ending 27 June 2010 are forecast to be between 52 cents and 75 cents (2009: EPS 118.9 cents, HEPS 115.9 cents) The forecast financial information on which this trading statement is based has not been reviewed and reported on by the Group's auditors. Delta's interim results for the six months ending 27 June 2010 are expected to be released on SENS on 11 August 2010. Nelspruit 27 May 2010 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 27/05/2010 09:25:01 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. 09:25:00 2010/05/27
DTA - Delta EMD Limited - Further Cautionary Announcement DTA DTA - Delta EMD Limited - Further Cautionary Announcement Delta EMD Limited (Incorporated in the Republic of South Africa) Registration number 1919/006020/06 ISIN: ZAE000132817 Share code: DTA ("the Company") FURTHER CAUTIONARY ANNOUNCEMENT Shareholders are referred to the cautionary announcements released on SENS on 18 January 2010, 1 March 2010 and 14 April 2010, wherein shareholders were advised that the Company has commenced a process intended to realise value from its last remaining operation, being Delta EMD South Africa, which process might result in the disposal of that operation. Further to the aforementioned announcements, shareholders are advised that the process is ongoing and might have a material effect on the price of the Company's securities and should continue to exercise caution when dealing in the Company's securities until a further announcement is made. 27 May 2010 Nelspruit Merchant bank and sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Legal advisor Webber Wentzel Attorneys Date: 27/05/2010 08:00:01 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. 08:00:00 2010/05/27
DTA - Delta EMD - Change to the board of directors DTA DTA - Delta EMD - Change to the board of directors Delta EMD Limited (Formerly Delta Electrical Industries Limited) Registration number: 1919/006020/06 Share code: DTA ISIN: ZAE000132817 ("Delta EMD") CHANGE TO THE BOARD OF DIRECTORS In compliance with the JSE Limited Listings Requirements, the following information is disclosed: Chris Jacobs has resigned as a non-executive director from the board of Delta EMD with effect from 29 April 2010. Johannesburg 03 May 2010 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 03/05/2010 14:50:01 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. 14:50:00 2010/05/03
DTA - Delta EMD Limited - Report on Proceedings at Annual General Meeting DTA DTA - Delta EMD Limited - Report on Proceedings at Annual General Meeting Delta EMD Limited (Incorporated in the Republic of South Africa) Registration number 1919/006020/06 ISIN: ZAE000132817 Share code: DTA REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETING At the ninety third (93rd) annual general meeting of the shareholders of Delta EMD Ltd held today, 29 April 2010, all the resolutions proposed at the meeting were approved by the requisite majority of votes. The special resolution will be lodged for registration with the Companies and Intellectual Property Registration Office in due course. Nelspruit 29 April 2010 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 29/04/2010 15:29:01 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. 15:29:00 2010/04/29
DTA - Delta EMD Limited - Further cautionary announcement DTA DTA - Delta EMD Limited - Further cautionary announcement Delta EMD Limited (Incorporated in the Republic of South Africa) Registration number 1919/006020/06 ISIN: ZAE000132817 Share code: DTA ("the Company") FURTHER CAUTIONARY ANNOUNCEMENT Shareholders are referred to the cautionary announcements released on SENS on 18 January 2010 and 1 March 2010, wherein shareholders were advised that the Company has commenced a process intended to realise value from its last remaining operation, being Delta EMD South Africa, which process might result in the disposal of that operation. Further to the aforementioned announcements, shareholders are advised that the process is ongoing and might have a material effect on the price of the Company's securities and should continue to exercise caution when dealing in the Company's securities until a further announcement is made. 14 April 2010 Nelspruit Merchant bank and sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Legal advisor Webber Wentzel Attorneys Date: 14/04/2010 08:00:01 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. 08:00:00 2010/04/14

Delta EMD Financial Information

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