Sharenet Sites 
Sharenet Sites
Trading statement for the period ended 28 February 2026
Trematon Capital Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/008691/06
Share code: TMT
ISIN: ZAE000013991
Main Board – General Segment
("Trematon" or "the Trematon group")
TRADING STATEMENT FOR THE PERIOD ENDED 28 FEBRUARY 2026
In terms of the Listing Requirements of the JSE Limited ("Listings
Requirements"), a listed company is required to publish a trading
statement as soon as it becomes satisfied that a reasonable degree of
certainty exists that the financial results for the period to be
reported on next will differ by at least 20% from those of the previous
corresponding period.
Shareholders are hereby advised that the Trematon group is currently
finalising its interim financial results for the period ended 28
February 2026 ("the current period").
Trematon is an investment holding company and uses earnings, headline
earnings and the intrinsic value model to provide management and
investors with a realistic and transparent way of evaluating
Trematon's performance. Trematon's earnings and headline earnings are
inherently volatile and do not provide an accurate indication of the
operations of the Trematon group. Management considers the intrinsic
net asset value ("INAV") to be the most important financial measure
of value for shareholders. The INAV is compiled using a combination
of listed market prices, external professional valuations and
directors valuations, where applicable, and reflects the realisable
value of the company based on an efficient disposal of the assets.
In terms of the board's strategy to dispose of Trematon's investments
and return capital to shareholders, and in line with the announcements
released on SENS on 26 March 2026 (relating to the Club Mykonos
Langebaan disposal) and 22 May 2026 (being the cautionary announcement
relating to negotiations around the potential disposal of the
Generation Education group), these investments have been disclosed
and classified as discontinued operations for the current period in
accordance with IFRS. Accordingly, the prior period has been restated
to disclose discontinued operations separately from continuing
operations.
The Trematon group expects the following results for the current
period:
Current period Prior period % change
Expected range Restated
Continuing (6.0) to (6.5) (17.2) (65)% to (62)%
operations EPS
(cents)
Continuing HEPS (0.05) to (0.07) (0.17) (71)% to (59)%
(cents)
Net asset value 125 to 129 288 (57)% to (55)%
("NAV")
(cents)
INAV per share 145 to 155 344 (58)% to (55)%
(cents)*
* Subsequent to the prior year's interim results the company made
distributions to shareholders of 133 cents per share resulting in the
large decrease in INAV.
Further details will be provided in the Trematon interim results for
the 6-months ended 28 February 2026, due to be published on SENS on
or about 29 May 2026.
The financial information on which this trading statement is based
has not been reviewed or reported on by the Trematon group's auditors.
Cape Town
25 May 2026
JSE Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 25-05-2026 09:18:00
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.
