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 |
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2011
Suspension of Listing on the JSE Limited - 23/01/12
|
Report on Proceedings at Annual General Meeting - 30/06/11
|
Distribution of Annual Report, No Change Statement and Notice of Annual General Meeting - 26/05/11
|
Proposed Delisting and Members’ Voluntary Winding-Up - 09/03/11
|
Trencor Earnings Leap 149% in Strong Container Leasing Market - 28/02/11
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Trading Statement - 11/02/11
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Apportionment Ratio for Tax Purposes - 07/02/11
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Trencor's Textainer Announces Date for Release of Fourth Quarter 2010 Results and Full Year Results and Quarterly Call - 28/01/11
|
Finalisation Announcement - 18/01/11
2010
Results of General Meeting - 14/12/10
|
Circulars to Mobile Shareholders and Trencor Shareholders - 22/11/10
|
Announcements by Mobile Industries Limited (Unbundling of its Stake in Trencor) and Trencor Limited (Specific Share Repurchase) - 22/11/10
|
Third Quarter Update - 04/11/10
|
Trencor’s Textainer Announces Date For Release of Third Quarter 2010 Results and Quarterly Call - 22/10/10
|
Cautionary Announcement - 18/10/10
|
Trencor’s Textainer to Present at the Jefferies 7th Global Shipping & Logistics Conference - 06/09/10
|
Commentary on Trencor’s Interim Results to 30 June 2010 - 18/08/10
|
Trencor's Textainer Reports Quarterly and Half Year Results - 12/08/10
|
Revised Trading Statement - 12/08/10
|
Trading Statement - 04/08/10
|
Trencor's Textainer Announces Date for Release of Second Quarter 2010 Results - 30/07/10
|
Trencor's Textainer Announces Extension and Increase to Securitization Facility - Financing Facilities now Total almost $1 Billion - 30/06/10
|
Trencor's Textainer to Present at the 2010 Deutsche Bank Industrials Conference - 22/06/10
|
Trencor's Textainer to Present at the Wells Fargo Securities Industrial Conference - 10/06/10
|
Report on Proceedings at Annual General Meetings - 26/05/10
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First Quarter Update - 06/05/10
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Distribution of Annual Reports, No Change Statement and Notice of Annual General Meetings - 04/05/10
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Trencor’s Textainer Announces Date for Release of First Quarter 2010 Results and Quarterly Call - 22/04/10
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Trencor's Textainer: Annual Report for 2009 - 18/03/10
|
Trencor's Textainer to Present at the J.P. Morgan Aviation, Transportation and Defense Conference - 03/03/10
|
Trencor Lifts Dividend Despite 19% Drop in Earnings - 18/02/10
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Trading Statement - 10/02/10
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Trencor's Textainer Reports Results - 10/02/10
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Trencor’s Textainer Announces Date for Release of Fourth Quarter 2009 Results and Full Year Results and Quarterly Call - 28/01/10
2009
Trencor's Textainer to Host Investor and Analyst Event on 16 November 2009
|
Third Quarter Update - 05/11/09
|
Trencor’s Textainer Announces Date for Release of Third Quarter 2009 Results and Quarterly Call - 23/10/09
|
Trencor's Textainer to Acquire Containers from Amficon - 19/10/09
|
Trencor's Textainer Concludes Large Refrigerated Container Transaction with Hanjin Shipping - 18/08/09
|
Trencor Maintains Interim Dividend - 13/08/09
|
Trencor's Textainer Reports Quarterly and Half Year Results - 11/08/09
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Trading Statement - 04/08/09
|
Trencor's Textainer Announces Date for Release of Second Quarter 2009 Results - 28/07/09
|
Trencor's Textainer Further Expands Managed Container Fleet: Obtains Rights to Manage Capital Itermodal and Xines Fleets - 22/06/09
|
Report On Proceedings At Annual General Meetings - 11/06/09
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First Quarter Update - 06/05/09
|
Distribution of Annual Reports, No Change Statement and Notice of Annual General Meetings - 06/05/09
|
Trencor's Textainer Announces Date for Release of First Quarter 2009 Results - 23/04/09
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Trencor's Textainer Strategically Expands Managed Container Fleet: Obtains Rights to Manage Amficon's Fleet - 16/04/09
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Changes to Directorate - 01/04/09
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Textainer Annual Report for 2008 - 25/03/09
|
Trencor Lifts Dividend by 37,5% after Excellent Performance by Textainer - 19/02/09
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Trading Statement - 11/02/09
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Trencor's Textainer Reports Results - 11/02/09
|
Textainer Group Holdings Limited to Present at BB&T Capital Markets 24th Annual Transportation Services Conference - 05/02/09
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Textainer Announces Dates for Release of Fourth Quarter 2008 and Full Year Results and Quarterly Conference Call - 04/02/09
2008
Third Quarter Update - 06/11/08
|
Trencor Earnings Higher on Back of Bigger Textainer Profit, Weaker Rand - 13/08/08
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Trading Statement - 06/08/08
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Trencor's Textainer Reports Quarterly Results - 05/08/08
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Release of Textainer Quarterly Results - 30/07/08
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Trencor's Textainer Announces Extension and Size Increase of Its Securitization Facility - 03/07/08
|
Report On Proceedings At Annual General Meetings - 19/05/08
|
Sale of TrenStar South Africa - 13/05/08
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Trencor's Textainer Reports Quarterly Results - 06/05/08
|
Trencor's Textainer Receives U.S. National Defense Transportation Association Quality Award - 05/05/08
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Release of Textainer Results - 05/05/08
|
Trencor's Textainer Announces New 5-Year Financing Agreement - 23/04/08
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Distribution of Annual Reports, No Change Statement and Notice of Annual General Meetings - 10/04/08
|
Trencor's Textainer Reports Refrigerated Container ("Reefer") Market Update - 03/04/08
|
Sale of TrenStar South Africa - 02/04/08
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Textainer Annual Report for 2007 - 31/03/08
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Sale of TrenStar, Inc's Asset Based Businesses in the US - 04/03/08
|
Trencor Dividend up 40% as Textainer Profits Grow 23% - 22/02/08
|
Textainer Results Released - 21/02/08
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Release of Textainer Results - 15/02/08
|
Trencor's Textainer Re-Enters Refrigerated Container Market - 07/01/08
2007
Textainer Increases its Interest in Textainer Marine Containers Limited - 30/11/07
|
Release of Textainer Quarterly Results - 19/11/07
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Textainer Initial Public Offering: Trencor's Resultant Interest - 19/11/07
|
Textainer Finalises Initial Public Offering on the NYSE - 10/10/07
|
Filing of Registration Statement for IPO by Textainer - 27/09/07
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Trencor Lifts Interim Dividend after 55% Surge in Trading Profit - 23/08/07
|
Trencor's Textainer to Manage Capital Lease’s Container Fleet - 24/07/07
|
Report On Proceedings At Annual General Meetings - 23/05/07
|
Automatic Conversion of Trencor and Mobile Convertible Debentures into Ordinary Shares - 10/04/07
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Distribution of Annual Reports, Notice of Annual General Meetings and Modifications to Reviewed Results - 05/04/07
|
Share Capital Restructuring - Reminder of Salient Dates - 23/02/07
|
Trencor Lifts Dividend By 42,5%; May List Textainer - 22/02/07
|
Results Of General Meetings - 20/02/07
|
Share Capital Restructuring Salient Dates and Times - 22/01/07
2006
6% Convertible Debentures Interest Payment No. 30 - 23/11/06
|
Trencor Increases Interim Dividend - 24/08/06
|
Capital Restructuring and Value Enhancing Initiatives - 23/08/06
|
Review of Capital Structure and Value Optimisation - 16/08/06
|
Trading Statement - 11/08/06
|
Trencor's Textainer To Manage Gateway's Container Fleet - 19/07/06
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6% Convertible Debentures Interest Payment No. 29 - 25/05/06
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Report On Proceedings At Annual General Meetings - 17/05/06
|
Distribution of Annual Reports and Notice of Annual General Meetings - 13/04/06
|
Trencor Puts Up Dividend After Excellent Year - 27/02/06
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Trading Statement - 08/02/06
2005
6% Convertible Debentures Interest Payment No. 28 - 17/11/05
|
Trencor Interim Earnings Up - 18/08/05
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Trading Statement - 05/08/05
|
6% Convertible Debentures Interest Payment No. 27 - 26/05/05
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Report on Proceedings at Annual General Meetings - 25/05/05
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Correction to Annual Report Disclosure on Convertible Debentures - 22/04/05
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No Change Statement and Notice of Annual General Meeting - 12/04/05
|
Trencor Profits from Bumper Container Trade - 28/02/05
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Trading Statement - 10/02/05
|
Settlement of Income Tax Queries - 11/01/05
2004
Settlement of Income Tax Queries - 22/12/04
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6% Convertible Debentures Interest Payment No. 26 - 25/11/04
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Trencor Turnaround - 26/08/04
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Trading Statement and Cautionary Announcement - 13/08/04
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6% Convertible Debentures Interest Payment No. 25 - 27/05/04
|
TrenStar Chosen by Coors for Keg Management in the UK and Becomes UK’S Largest Keg Owner
and First to Offer Brewers Asset Pooling - 21/05/04
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Annual General Meetings - 20/05/04
|
Resignation of Director - 20/05/04
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No Change Statement and Notice of Annual General Meeting - 16/04/04
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Exit From Trailer Manufacturing Business - 01/04/04
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Strong Container Business Buoys Trencor's Dollar Profits - 04/03/04
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Appointment of Director - 03/03/04
|
Trading Statement and Cautionary Announcement - 16/02/04
2003
6% Convertible Debentures Interest Payment No. 24
- 27/11/03 |
Probable Sale Of Equipment and Closure of
Trencor’s Parow Tank Container Factory - 27/11/03 |
TrenStar Closes US$34 Million in Funding to Expand Mobile Asset Management Solutions - 16/09/03 | Trencor Trading Income Holds Up Despite Stronger Rand - 21/08/03 | Trading Statement in Respect of the Six Months Ended 30 June 2003 - 08/08/03 |
6% Convertible Debentures Interest Payment No. 23
- 28/05/03 |
TrenStar’s Keg Management Unit Selected by 100th Brewer - 09/05/03 | Trencor Appointment of Managing Director
- 04/04/03 |
Trencor Trading Income on the Rise, But Stronger Rand Knocks Earnings
- 10/03/03 |
Trencor Solutions launched as TrenStar South Africa
- 11/02/03
2002
6% Convertible Debentures Interest Payment No. 22 - 28/11/02 |
Change in Trencor Directorate - 20/11/02 |
Trencor in R400 Million Beer Keg Deal with another top UK Brewer - 16/09/02 |
Trencor Operations Grow But Stronger Rand Takes its Toll - 22/08/02 |
STRATE: Expiry of the Dispossessed Member’s Fund in September 2002 - 22/08/02 |
6% Convertible Debentures Interest Payment No. 21 - 29/05/02 |
Trencor Banking Facilities - 10/05/02 |
Trencor in R1 Billion Beer Keg Deal with Top UK Brewer - 02/05/02 |
Rand's Decline Boosts Trencor's Earnings - 06/03/02 |
Directorate - 06/03/02
2001
Merger of Trencor's Henred-Fruehauf Trailer Division with SA Truck Bodies - 20/12/01 |
Trencor Banking Facilities - 10/12/01 |
Textainer Completes Innovative US$600 Million Financing - 05/12/01 |
Tank Container Fleet under TPI’s Management Transferred to Exsif – 01/12/01 |
6% Convertible Debentures Interest Payment No. 20 - 30/11/01 |
Proposed Merger Of Trencor’s Henred-Fruehauf Trailer Division with SA Truck Bodies -25/10/01 |
Trencor Directorate - 01/10/01 |
Exchange Gains Boost Trencor Results - 28/08/01 |
Trencor Solutions Expands Offshore with the Formation of Trenstar Inc - 23/08/01 |
Interest in Centricity Swopped for a Minority Stake in Descartes - 04/07/01 |
Change of Auditors - 29/06/01 |
6% Convertible Debentures Interest Payment No. 19 - 25/05/01 |
Trencor Lifts Earnings - 21/02/01
2000
6% Convertible Debentures Interest Payment No.18 - 17/11/00 |
Trencor Lifts Headline Earnings - 31/08/00 |
Trencor Pick-Up Knocked By Losses From Factory Closure - 01/03/00
SUSPENSION OF LISTING ON THE JSE LIMITED
23 January 2012
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
SUSPENSION OF LISTING ON THE JSE LIMITED
|
Shareholders are referred to the announcements released on SENS on 9 March 2011
and 17 October 2011 following the unbundling by Mobile of its interest in Trencor Limited to Mobile shareholders and the stated intention that Mobile
be delisted and wound up or deregistered in due course unless other corporate action materialises.
As there has been no execution of a corporate action to date in relation to Mobile, the board has resolved that the listing of Mobile on the JSE be suspended with effect from today.
A further announcement with regard to the future of Mobile will be made in due course.
By order of the board of directors
Cape Town
23 January 2012
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETING
30 June 2011
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETING
|
At the annual general meeting of Mobile held today, all the ordinary resolutions and the special
resolution proposed at the meeting were approved by the requisite majority of votes.
Trencor Services (Pty) Ltd
Secretaries
30 June 2011
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
DISTRIBUTION OF ANNUAL REPORT, NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING
26 May 2011
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
DISTRIBUTION OF ANNUAL REPORT, NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING
|
Mobile has distributed its annual financial statements in respect of the year ended 31 December 2010 and they are
unchanged from the reviewed results released on SENS on 28 February 2011 and posted to shareholders on 4 March 2011.
The annual general meeting will be held on Thursday, 30 June 2011 at 1313 Main Tower, Standard Bank Centre, Heerengracht, Cape Town, commencing at 15:15 to transact the business
as stated in the annual general meeting notice forming part of the annual financial statements. Provision has been made for shareholders or their proxies who prefer to attend in
Johannesburg to participate in the meeting by means of a video link from Investec Bank Limited, 3rd floor M4, 100 Grayston Drive, Sandown, Sandton.
Trencor Services (Pty) Ltd
Secretaries
26 May 2011
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)
Note: The 2010 annual report can be accessed in the financial reports section of this website.
Top of Page
PROPOSED DELISTING AND MEMBERS’ VOLUNTARY WINDING-UP
09 March 2011
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
PROPOSED DELISTING AND MEMBERS’ VOLUNTARY WINDING-UP
|
Mobile shareholders (“Shareholders”) are referred to:
-
the circular dated 22 November 2010 regarding the unbundling by Mobile of 86 695 758 Trencor Limited shares held by Mobile to Shareholders by way of a distribution
in specie (“Unbundling”) wherein it was stated that if no further corporate action had taken place by or in relation to Mobile, or had been proposed, by the implementation date of the Unbundling, being Monday, 7 February 2011, then Mobile would
cease to qualify for a listing on the JSE, whether as a cash shell or otherwise, and the Mobile board intends that on or before 28 February 2011 it will send a circular to Shareholders proposing that Mobile be placed into voluntary liquidation; and
-
the reviewed results for the year ended 31 December 2010 released on SENS on Monday, 28 February 2011 wherein it was announced that Mobile will be delisted and
wound up in due course and that the total equity of Mobile at 28 February 2011 was approximately R0,2 million.
Shareholders are advised that:
-
there has been no corporate action in relation to Mobile and that, in the circumstances, it will be proposed to Shareholders that Mobile be wound up; and
-
given the abovementioned equity position of Mobile at 28 February 2011 and the anticipated costs of the delisting and members’ voluntary winding-up there
will almost definitely be no liquidation dividend.
A detailed announcement on the proposed delisting and members’ voluntary winding-up will be made in due course and full details in this regard will be communicated to
Shareholders with the 2010 annual report.
By order of the board of directors
Mobile Industries Limited
Cape Town
9 March 2011
Investment bank and transaction sponsor:
Investec Bank Limited
Corporate law adviser:
Edward Nathan Sonnenbergs Inc.
Sponsor:
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR EARNINGS LEAP 149% IN STRONG CONTAINER LEASING MARKET
28 February 2011
A stronger performance in a robust container leasing market by its New York listed business,
the 61,6% held Textainer container group, helped Trencor Ltd to increase headline earnings per share by 149% to 335,5 cents in 2010 from 134,8 cents
in 2009. Adjusted headline earnings per share increased by 81% to 369,4 cents (2009: 203,5 cents). These excluded net unrealised foreign exchange
losses and gains arising on translation of net dollar receivables and the related valuation adjustments; earnings in 2009 also excluded gains realised
by Textainer on the repurchase of portion of its own debt.
Trencor today declared a final dividend of 100 cents per share, making a total of 140 cents per share for the year, 17% higher than the 2009 total of 120 cents.
Trencor said trading profit from continuing operations after net financing costs (but excluding gains on the repurchase of debt by Textainer in 2009)
increased by 28% from R781 million in 2009 to R1 002 million.
Trencor’s chairman, Neil Jowell, said the company’s earnings for the year to December were also boosted by a reduction of R189 million in the net long-term receivable
valuation adjustment following the significantly improved outlook for collections as a result of the prevailing strong container leasing market.
This increased earnings by 72 cents per share.
Mr Jowell said the strengthening of the spot US$/R exchange rate from R7,35 to R6,61 over the year to 31 December 2010 resulted in net realised and unrealised exchange
losses of R88 million for the year arising on the translation of the long-term receivables and related valuation adjustment from US dollars into rand. The effect of these
losses on earnings per share in 2010 was 34 cents, compared with a loss in 2009 of 115 cents.
Mr Jowell said Textainer’s profit for the year, reported under IFRS, was US$128 million (2009: US$92 million including the gains on the repurchase of debt amounting to US$15,3 million).
This amount included a reversal of certain taxation provisions amounting to US$11,1 million no longer required under IFRS.
He said Textainer’s current fleet utilisation was 98,6% compared to 91% a year ago. The leasing group had spent US$503,7 million on buying a total of 214 000 TEU
(twenty foot equivalent units) of new equipment in 2010 and increased the owned portion of the total fleet to 51% as at 31 December 2010 from 45% in 2009.
Mobile Industries Ltd reported earnings per share of 23,5 cents for the year compared to 11,1 cents in 2009, but reminded shareholders that it distributed its entire
46% shareholding in Trencor to them on 7 February 2011. Mobile was thus not entitled to any dividend declared by Trencor and accordingly had not declared a dividend.
Mobile will be delisted and wound up in due course.
Top of Page
TRADING STATEMENT
11 February 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile" or "the company")
|
|
TRADING STATEMENT
|
Shareholders in Trencor and Mobile are advised that Trencor expects to report adjusted headline earnings (which excludes the effect of unrealised foreign exchange translation gains and
losses, and excludes gains realised in 2009 by Textainer on the early retirement of portion of its own debt) of between 360 and 380 cents per share for the year ended 31 December 2010 (2009: 203,5 cents per share). Headline earnings are expected
to be between 325 and 345 cents per share (2009: 134,8 cents per share). These improvements are mainly the result of the following:
-
A much stronger performance by Textainer which reported net profits under International Financial Reporting Standards (“IFRS”) of US$128 million (2009: US$ 92 million,
including gains realised on the early retirement of portion of its own debt); this included a release of certain taxation provisions, amounting to US$11,1 million (2009: nil), no longer required under IFRS following the conclusion of an audit
undertaken by the Internal Revenue Service.
-
A reduction of R189 million in Trencor’s net long-term receivable valuation adjustment following the significantly improved outlook for collections as a result
of the currently very strong container leasing market.
-
The spot US$/R exchange rate strengthened from US$1 = R7,35 at 31 December 2009 to US$1 = R6,61 at 31 December 2010. This resulted in net realised and unrealised
exchange losses of approximately R89 million for the year arising on the translation of the long-term receivables and related valuation adjustment from US dollars into rand (2009: loss R298 million). The effect of these losses on earnings per
share in 2010 is 34 cents (2009: loss 115 cents).
Trencor’s basic earnings per share are expected to be between 325 and 345 cents per share (2009: 138,1 cents per share).
Based on Trencor’s estimated headline earnings above, Mobile is expected to report headline earnings of between 26 and 28 cents per share for the year ended 31 December 2010 (2009: 11,1 cents). Earnings per share are expected to be between 26 and
28 cents per share (2009: 10,8 cents). Shareholders in Mobile are reminded, however, that the company distributed its entire shareholding in Trencor to its shareholders on 7 February 2011 and that Mobile itself will thus not become entitled to any
dividend declared by Trencor.
This forecast financial information has not been reviewed or reported on by Trencor’s or Mobile’s independent auditors. The
reviewed results in respect of the year ended 31 December 2010 are expected to be published in the second half of
February 2011.
ON BEHALF OF THE BOARDS
NI JOWELL C JOWELL |
CHAIRMAN TRENCOR LIMITED CHAIRMAN MOBILE INDUSTRIES LIMITED |
11 February 2011
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
APPORTIONMENT RATIO FOR TAX PURPOSES
07 February 2011
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
APPORTIONMENT RATIO FOR TAX PURPOSES
|
Mobile shareholders (“Shareholders”) are referred to the circular dated 22 November 2010 (“Circular”) and the subsequent
announcements released on the Securities Exchange News Service (“SENS”) relating to the unbundling and distribution in specie by Mobile of its 46,25% shareholding in Trencor Limited
(“Trencor”) to Shareholders, who were recorded in the register on Friday, 4 February 2011 (the “unbundling record date”), in terms of sections 90 and 228 of the Companies Act and
section 46 of the Income Tax Act (the “Unbundling”).
The purpose of this announcement is to notify Shareholders of the cost apportionment ratio in which the expenditure incurred and/or the valuation of Mobile shares must be allocated
to the Trencor shares received in terms of the Unbundling and the Mobile shares for South African taxation purposes (the “Apportionment Ratio”).
The Apportionment Ratio for purposes of section 46 of the Income Tax Act is 0,34% relating to a Mobile share and 99,66% to a Trencor share, based on the closing share prices of Mobile
and Trencor on the unbundling record date of R0,01 and R35,99, respectively.
The Apportionment Ratio is to be used, after the Unbundling, to apportion the expenditure incurred in respect of a Mobile share held. The expenditure must be apportioned between the
Mobile share held after the Unbundling and the Trencor share received in terms of the Unbundling for the purposes of determining the profits or losses, of a capital or trading nature,
derived from any future disposal of a Mobile share or Trencor share. The potential South African taxation considerations for Shareholders are set out in paragraph 3.3 of the Circular.
Shareholders are, however, advised in all circumstances to seek their own advice regarding taxation.
By order of the board of directors
Mobile Industries Limited
Cape Town
07 February 2011
Investment bank and transaction sponsor:
Investec Bank Limited
Corporate law adviser:
Edward Nathan Sonnenbergs Inc.
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF FOURTH QUARTER 2010 RESULTS AND FULL YEAR RESULTS AND QUARTERLY CALL
28 January 2011
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF FOURTH QUARTER 2010 RESULTS AND FULL YEAR RESULTS AND QUARTERLY CALL
|
We draw attention to the following news release issued on 27 January 2011 by Textainer Group Holdings Limited,
in which Trencor has a 60,9% interest:
“Hamilton, Bermuda - (Business Wire) -- Textainer Group Holdings Limited (NYSE: TGH) (“Textainer”), the world's largest lessor of intermodal containers based on fleet size,
today reported that it will announce results for the quarter and year ended December 31, 2010 at 9:00 am EST on February 10, 2011.
Investors' Webcast
Textainer will hold a conference call and Webcast with an accompanying slide presentation at 11:00 am EST on Thursday February 10, 2011 to discuss Textainer's 2010 fourth quarter
and full year results. An archive of the Webcast will be available one hour after the live call through February 10, 2012. For callers in the U.S. the dial-in number for the
conference call is 877-303-9078; for callers outside the U.S. the dial-in number for the conference call is 970-315-0455. To access the live Webcast or archive, please visit
Textainer's website at http://www.textainer.com.
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries
28 January 2011
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
FINALISATION ANNOUNCEMENT
18 January 2011
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
FINALISATION ANNOUNCEMENT
|
Mobile shareholders (“Shareholders”) are referred to the circular to Shareholders dated Monday,
22 November 2010 (“Circular”) and the announcements by Mobile released on the Securities Exchange News Service (“SENS”) on Monday, 22 November 2010 and Tuesday,
14 December 2010, and are advised that the special resolutions relating to the unbundling, as detailed in the Circular, were registered by the Companies and
Intellectual Property Registration Office on Wednesday, 12 January 2011.
Accordingly, Shareholders are advised that all conditions precedent to the unbundling have been fulfilled and that the unbundling will be implemented in
accordance with the timetable contained in the Circular and as summarised in the table below:
| |
2011 |
|
Last day to trade
in Mobile shares on the JSE
to participate in the unbundling |
Friday, 28 January |
|
Mobile shares
trade “ex” their entitlement to
Trencor shares received by Shareholders pursuant to
the unbundling |
Monday, 31 January |
|
Shareholders
commence trading their unbundled
Trencor Limited (“Trencor”) shares (the JSE share code
for Trencor will
remain “TRE” and the ISIN will
remain ZAE000007506) |
Monday, 31 January |
|
Unbundling record date |
Friday, 4 February |
Announcement of apportionment of cost for
taxation/base cost
for capital gains tax purposes on or
about |
Monday, 7 February |
|
Dematerialised
Shareholders will have their accounts
with their CSDP or broker updated with the unbundled
Trencor shares on |
Monday, 7 February |
|
Share certificates
in respect of the unbundled Trencor
shares will be posted, by registered post, at the risk
of
the certificated Shareholders concerned on or about |
Monday, 7 February |
Note:
No dematerialisation or re-materialisation of Mobile share certificates may take place between Monday, 31 January 2011 and Friday, 4 February 2011, both days inclusive.
Based on 86 695 758 Trencor shares held by Mobile and 1 068 039 676 Mobile shares in issue, Shareholders who are recorded in the register at the close of business on Friday,
4 February 2011 will receive 8,117 Trencor shares for every 100 Mobile shares held (“Entitlement Ratio”). If the application of the Entitlement Ratio would result in the
number of Trencor shares to be distributed to any Shareholder not being a whole number, the relevant fraction will be rounded up to the nearest whole number if the fraction
is equal to or greater than 0,5 of a Trencor share; or rounded down to the nearest whole number if the fraction is less than 0,5 of a Trencor share.
By order of the board of directors
Mobile Industries Limited
Cape Town
18 January 2011
Investment bank and transaction sponsor:
Investec Bank Limited
Corporate law adviser:
Edward Nathan Sonnenbergs Inc.
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
RESULTS OF GENERAL MEETING
14 December 2010
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
RESULTS OF GENERAL MEETING
|
Mobile shareholders are advised that at Mobile’s general meeting held on Tuesday, 14 December 2010,
the special resolutions and the ordinary resolution proposed were approved by
99,9% of the shares represented.
The special resolutions will be lodged for registration with the Companies and Intellectual Property Registration Office (“CIPRO”) in due course. The finalisation
date for the unbundling is expected to be Tuesday, 18 January 2011 and the implementation date is expected to be Monday, 7 February 2011. An announcement confirming
the finalisation date will be issued following the registration of the special resolutions by CIPRO.
By order of the board of directors
Mobile Industries Limited
Cape Town
14 December 2010
Investment bank and transaction sponsor:
Investec Bank Limited
Corporate law adviser:
Edward Nathan Sonnenbergs Inc.
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
CIRCULARS TO MOBILE SHAREHOLDERS AND TRENCOR SHAREHOLDERS
22 November 2010
The Mobile circular to shareholders regarding the unbundling by Mobile of its entire
shareholding in Trencor can be accessed here and the Trencor circular to shareholders regarding
the specific share repurchase of Trencor shares can be accessed here.
Top of Page
ANNOUNCEMENTS BY MOBILE INDUSTRIES LIMITED (UNBUNDLING OF ITS STAKE IN TRENCOR) AND TRENCOR LIMITED (SPECIFIC SHARE REPURCHASE)
22 November 2010
The Mobile unbundling announcement can be accessed here and the
Trencor specific share repurchase announcement here.
Top of Page
THIRD QUARTER UPDATE
4 November 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
THIRD QUARTER UPDATE
|
Shareholders in Trencor and Mobile are advised that Textainer Group Holdings Ltd (NYSE: TGH),
in which Trencor has a 61,8% interest, has announced net profit attributable to its shareholders in US GAAP of US$80,0 million for the nine months ended
30 September 2010 compared with US$65,4 million for the same period in 2009. Profit for the nine months last year included a US$15,3 million gain arising
on the early extinguishment of debt following the purchase and cancellation of some of the 2005-1 Series Bonds, which was not repeated in 2010.
Textainer’s results may be viewed on its website www.textainer.com.
Adjusted to conform with IFRS, Textainer’s net profit for the nine months ended 30 September 2010 was US$76,3 million (same period 2009: US$66,9 million
including the said US$15,3 million gain arising on early extinguishment of debt).
Trencor’s earnings for the 9 months to 30 September 2010 are as follows:
| |
|
9 months ended 30 September |
Year ended 31 December |
| |
|
2010 |
2009 |
2009 |
| |
|
Cents per
share |
Cents per
share |
Cents per
share |
| |
|
Unaudited |
Unaudited |
Audited |
|
HEADLINE EARNINGS |
|
164,2 |
79,6 |
134,8 |
| Add: |
|
|
|
|
|
Unrealised foreign exchange translation losses |
|
18,0 |
113,6 |
114,6 |
| |
|
182,2 |
193,2 |
249,4 |
| Deduct: |
|
|
|
|
|
Gain realised on the repurchase and early extinguishment
of debt by Textainer in 2009 |
|
- |
(45,9) |
(45,9) |
|
ADJUSTED HEADLINE EARNINGS |
|
182,2 |
147,3 |
203,5 |
| SA rand to US dollar: |
|
|
|
|
| - Period-end rate of exchange |
|
R6,95 |
R7,36 |
R7,35 |
| - Average rate of exchange for period |
|
R7,44 |
R8,62 |
R8,33 |
COMMENTS
·
Adjusted headline earnings exclude the
effect of net unrealised foreign exchange gains and losses arising on
the translation of the long-term receivables and related valuation
adjustment and in 2009, the gain on the early extinguishment of debt.
·
Textainer has ordered 212 620 TEU
in new containers year-to-date for delivery
through December 2010, 90% of which will be owned directly by Textainer;
180 732 TEU, or 85%, are committed to long-term leases.
·
Textainer’s fleet utilisation in the
last week of October 2010 was 98,5% (31 December 2009: 88,6%).
Mobile’s headline earnings per share for the 9 months were 13,2 cents (same period 2009: 5,7 cents, full year 2009: 10,8 cents).
The financial information on which this trading update is based has not been reviewed or reported on by Trencor’s or Mobile’s independent auditors.
On behalf of the Boards
NI Jowell C Jowell |
Chairman Trencor Limited Chairman Mobile Industries Limited |
4 November 2010
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF THIRD QUARTER 2010 RESULTS AND QUARTERLY CALL
22 October 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF THIRD QUARTER 2010 RESULTS AND QUARTERLY CALL
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 61,8% interest:
“Hamilton, Bermuda, October 21, 2010 (Business Wire) -- Textainer Group Holdings Limited (NYSE:TGH) (“Textainer”), the world's largest lessor of intermodal containers
based on fleet size, today reported that it will announce results for the third quarter ended September 30, 2010 at 9:00 am EDT on November 4, 2010.
Investors' Webcast
Textainer will hold a conference call and Webcast with an accompanying slide presentation at 11:00 am EDT on Thursday November 4, 2010 to discuss Textainer's 2010
third quarter results. An archive of the Webcast will be available one hour after the live call through November 4, 2011. For callers in the U.S. the dial-in number
for the conference call is 877-303-9078; for callers outside the U.S. the dial-in number for the conference call is 970-315-0455. To access the live Webcast or archive,
please visit Textainer's website at http://www.textainer.com.”
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries
22 October 2010
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
CAUTIONARY ANNOUNCEMENT
18 October 2010
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
CAUTIONARY ANNOUNCEMENT
|
Mobile shareholders are advised that Mobile is considering the unbundling (“Unbundling”) of its 46,25% shareholding in
Trencor Limited (“Trencor”).
The Unbundling is subject to various conditions precedent, including that a specific buy-back by Trencor of approximately 50% of the Trencor shares that will be held post the Unbundling
by trusts related to Neil Jowell and Cecil Jowell (directors of Mobile and Trencor), becomes unconditional in all respects (“Specific Buy-back”). In this regard Mobile shareholders are
referred to the cautionary announcement by Trencor today.
The proposed Unbundling and Specific Buy-back may have a material effect on the price at which Mobile shares trade on the JSE Limited. Accordingly, Mobile shareholders are advised to
exercise caution when dealing in their shares until a further announcement is made.
By order of the board
Mobile Industries Limited
Cape Town
18 October 2010
Investment bank and transaction sponsor:
Investec Bank Limited
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER TO PRESENT AT THE JEFFERIES 7TH GLOBAL SHIPPING & LOGISTICS CONFERENCE
06 September 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRENCOR’S TEXTAINER TO PRESENT AT THE JEFFERIES 7TH GLOBAL SHIPPING & LOGISTICS CONFERENCE
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 61,8% interest:
“Hamilton, Bermuda, September 03, 2010 (Business Wire) -- Textainer Group Holdings Limited (NYSE:TGH) (“Textainer”), the world's largest lessor of intermodal containers
based on fleet size, today announced that the Company's CFO, Ernest J. Furtado, is scheduled to present at the Jefferies 7th Global Shipping & Logistics Conference in
New York on Wednesday, September 8th at 2:00 PM EDT.
The presentation will be broadcast live over the Internet and can be accessed at http://www.wsw.com/webcast/jeff51/tgh/. In addition, the accompanying slide presentation
and webcast will be available in the Investor Relations section of Textainer's Web site at http://www.textainer.com/.”
Trencor Services (Pty) Ltd
Secretaries to Trencor and Mobile
06 September 2010
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
COMMENTARY ON TRENCOR’S INTERIM RESULTS TO 30 JUNE 2010
18 August 2010
|
TRENCOR: GROUP
-
Trading profit, which is earned in US dollars, after net finance costs, increased by 12% from US$49,8 million to US$55,8 million during the period under review.
However, translated at the much stronger average exchange rate that prevailed in the current period, this declined in rand terms by 7% to R419 million from R451 million in 2009.
-
Net exchange gains, realised and unrealised, arising on translation into rand of the net dollar receivables and the related valuation adjustment amounted
to R36 million (2009: loss R235 million); this non-cash adjustment had the effect of increasing earnings per share by 13,6 cents (2009 effect: 90,2 cents per share decrease).
-
Headline earnings per share (including the effect of realised and unrealised foreign exchange translation gains and losses and, in 2009 only,
gains realised by Textainer on the early extinguishment of debt) were 121,1 cents (2009: 68,8 cents).
-
Adjusted headline earnings per share (which excludes the effect of foreign exchange translation gains and losses and gains realised by Textainer
on the early extinguishment of debt) were 107,5 cents (2009: 113,1 cents).
-
The differing measures of earnings are better presented in tabular form:
| |
|
6 months ended 30 June |
Year ended
|
| |
|
2010 |
2009 |
2009 |
| |
|
Cents per
share |
Cents per
share |
Cents per share |
Headline earnings |
|
121,1 |
68,8 |
134,8 |
(Deduct)/Add: |
|
|
|
|
|
Unrealised foreign exchange translation (gains)/losses |
|
(13,6) |
90,2 |
114,6 |
| |
|
107,5 |
159,0 |
249,4 |
|
Deduct: |
|
|
|
|
|
Gains realised on the repurchase |
|
|
|
|
|
and early extinguishment of debt |
|
|
|
|
|
by Textainer |
|
- |
(45,9) |
(45,9) |
|
Adjusted headline earnings |
|
107,5 |
113,1 |
203,5 |
| |
R Million |
Rand per
share |
|
Net interest in Textainer |
5 484,9 |
29,26 |
|
Net interest in long-term receivables |
741,8 |
3,96 |
|
Cash |
658,2 |
3,51 |
US dollar currency note |
267,0 |
1,44 |
Net liabilities (mainly net deferred tax) |
(102,9) |
(0,55) |
| |
7 053,4 |
37,62 |
-
Consolidated gearing ratio at 30 June 2010 was 80% (2009: 82%).
-
Interim dividend of 40,0 cents per share declared (2009: 35,0 cents per share).
TEXTAINER: 61,9% interest
-
Net profit attributable to Textainer shareholders for the half year in US GAAP was
US$49,3 million (2009: US$51,9 million including US$15 million realised on the early extinguishment of debt).
Adjusted to conform with International Financial Reporting Standards, net profit was US$45,2 million (2009: US$53,0 million, including US$15 million realised on the early
extinguishment of debt).
-
Fleet utilisation currently stands at a record high of 98,6%, compared with spot
utilisation of 85,4% at 30 June 2009 and 88,6% at 31 December 2009.
-
Purchased 70 670 TEU of new containers that were delivered in the first half of 2010,
and ordered an additional 128 150 TEU for delivery in the second half of 2010, representing a total of US$458 million of capital expenditures. 90% of the total new
containers ordered in 2010 will be owned by Textainer.
-
Extended the term and increased the size of the funding facility from a total
revolving commitment of US$475 million to US$750 million for a two-year revolving period, effective 29 June 2010.
-
Declared dividends of US$0,24 and US$0,25 per share in respect of quarters 1 and 2 of 2010 respectively.
-
Textainer’s results may be viewed on its website www.textainer.com.
Top of Page
TRENCOR’S TEXTAINER REPORTS QUARTERLY AND HALF YEAR RESULTS
12 August 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER REPORTS QUARTERLY AND HALF YEAR RESULTS
|
Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 61,9% interest,
has reported its results for the second quarter and six months ended 30 June 2010. These results can be accessed on its website at www.textainer.com.
Trencor Services (Pty) Ltd
Secretaries
12 August 2010
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
REVISED TRADING STATEMENT
12 August 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
REVISED TRADING STATEMENT
|
Further to the trading statement published on SENS on 4 August 2010, shareholders in Trencor and Mobile are advised
that Trencor’s ADJUSTED HEADLINE EARNINGS (which excludes net unrealised foreign exchange gains and losses on translation of long-term receivables and, in respect of 2009, gains
arising on the early extinguishment of debt by Textainer in 2009) are now expected to be between 100,0 and 110,0 cents per share for the six months ended 30 June 2010
(2009: 113,1 cents).
HEADLINE EARNINGS are now expected to be between 115,0 and 125,0 cents per share compared to 68,8 cents for the same period in 2009. The principal reasons for this increase are
(a) that unrealised foreign exchange gains, before tax, arising on the translation of the net long-term dollar-denominated receivables amounted to R36 million for the period compared
to net unrealised foreign exchange losses, before tax, of R235 million in the corresponding period in 2009; this represents a net, non-cash, turnaround in pre-tax profit of R271 million
which (b) has been partially offset by the gains of R175 million on early extinguishment of debt by Textainer in 2009 not repeated in this period. The spot exchange rate declined by
28 cents from US$1 = R7,35 at 31 December 2009 to R7,63 at 30 June 2010. In the corresponding period last year, the spot exchange rate strengthened by 153 cents. Basic earnings are
expected to be between 115,0 and 125,0 cents per share for the six months ended 30 June 2010 (2009: 77,8 cents per share).
Based on Trencor’s estimated earnings above, Mobile is expected to report basic and headline earnings of between 9,0 and 10,0 cents per share for the half year (2009: 6,2 cents).
The financial information on which this trading statement is based has not been reviewed and reported on by Trencor’s and Mobile’s independent auditors. The unaudited interim
results in respect of the six months ended 30 June 2010 are expected to be published on or about 19 August 2010.
ON BEHALF OF THE BOARDS
NI JOWELL C JOWELL |
CHAIRMAN TRENCOR LIMITED CHAIRMAN MOBILE INDUSTRIES LIMITED |
12 August 2010
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
TRADING STATEMENT
4 August 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRADING STATEMENT
|
Shareholders in Trencor and Mobile are advised that Trencor’s ADJUSTED HEADLINE EARNINGS (which excludes net unrealised foreign
exchange gains and losses on translation of long-term receivables and, in respect of 2009, gains arising on the early extinguishment of debt by Textainer in 2009) are expected to be between
95,0 and 105,0 cents per share for the six months ended 30 June 2010 (2009: 113,1 cents).
HEADLINE EARNINGS are expected to be between 110,0 and 120,0 cents per share compared to 68,8 cents for the same period in 2009. The principal reasons for this increase are (a) that
unrealised foreign exchange gains, before tax, arising on the translation of the net long-term dollar-denominated receivables amounted to R36 million for the period compared to net
unrealised foreign exchange losses, before tax, of R235 million in the corresponding period in 2009; this represents a net, non-cash, turnaround in pre-tax profit of R271 million which
(b) has been partially offset by the gains of R174 million on early extinguishment of debt by Textainer in 2009 not repeated in this period. The spot exchange rate declined by 28 cents
from US$1 = R7,35 at 31 December 2009 to R7,63 at 30 June 2010. In the corresponding period last year, the spot exchange rate strengthened by 153 cents. Basic earnings are expected to be
between 110,0 and 120,0 cents per share for the six months ended 30 June 2010 (2009: 77,8 cents per share).
Based on Trencor’s estimated earnings above, Mobile is expected to report basic and headline earnings of between 9,0 and 10,0 cents per share for the half year (2009: 6,2 cents).
The financial information on which this trading statement is based has not been reviewed or reported on by Trencor’s and Mobile’s independent auditors. The unaudited interim results in
respect of the six months ended 30 June 2010 are expected to be published on or about 19 August 2010.
ON BEHALF OF THE BOARDS
NI JOWELL C JOWELL |
CHAIRMAN TRENCOR LIMITED CHAIRMAN MOBILE INDUSTRIES LIMITED |
4 August 2010
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF SECOND QUARTER 2010 RESULTS
30 July 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF SECOND QUARTER 2010 RESULTS
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 61,9% interest:
“Hamilton, Bermuda, July 29, 2010 (Business Wire) — Textainer Group Holdings Limited (NYSE: TGH) (“Textainer”), the world’s largest lessor of intermodal containers based
on fleet size, today reported that it will announce results for the second quarter ended June 30, 2010 at 9:00 am EDT on August 12, 2010.
Investors' Webcast
Textainer will hold a conference call and Webcast with an accompanying slide presentation at 11:00 am EDT on Thursday August 12, 2010 to discuss Textainer’s 2010 second
quarter results. An archive of the Webcast will be available one hour after the live call through August 12, 2011. For callers in the U.S. the dial-in number for the
conference call is 877-303-9078; for callers outside the U.S. the dial-in number for the conference call is 970-315-0455. To access the live Webcast or archive, please
visit Textainer’s website at http://www.textainer.com.”
Trencor Services (Pty) Ltd
Secretaries
30 July 2010
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER ANNOUNCES EXTENSION AND INCREASE TO SECURITIZATION FACILITY - FINANCING FACILITIES NOW TOTAL ALMOST $1 BILLION
30 June 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRENCOR’S TEXTAINER ANNOUNCES EXTENSION AND INCREASE TO SECURITIZATION FACILITY - FINANCING FACILITIES NOW TOTAL ALMOST $1 BILLION
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,0% interest:
“Hamilton, Bermuda, June 29, 2010 (Business Wire) -- Textainer Group Holdings Limited (NYSE: TGH) (“Textainer” ), the world’s largest lessor of intermodal containers based on
fleet size, today announced that Textainer Marine Containers Limited (“TMCL”), Textainer’s primary asset owning subsidiary, extended and increased the size of its
securitization facility.
The total commitment under the securitization facility increased from $475 million to $750 million. The interest rate is 2.75% over LIBOR during an initial two-year revolving
period. If the securitization facility is not refinanced or renewed during this two-year period, the facility is structured to amortize over 10 years, but not to exceed the
maximum term of 15 years.
“We are extremely pleased to extend and increase the size of TMCL’s securitization facility,” said John Maccarone, Textainer’s President and Chief Executive Officer.
“The $750 million facility significantly expands our access to capital during a challenging credit environment and strengthens our relationships with global lending institutions.
With this agreement, we have added five new banks to four existing banks, resulting in a stronger and more diverse lending group for the benefit of the Company and its shareholders.
We believe the success of this transaction underscores our leadership position and demonstrates the participating banks’ strong confidence in and commitment to Textainer.”
“This securitization facility further strengthens our capital structure and complements our $205 million bank revolver, which matures in 2013. These two facilities total almost
$1 billion, solidifying our ability to continue to grow both organically and through acquisitions as we have done in the past.”
Mr. Maccarone added, “We appreciate the ongoing support Textainer has received from leading banks. We would like to thank Wells Fargo Securities for structuring and placing the
facility, Fortis Bank SA/NV and ING Bank as Mandated Lead Arrangers as well as Bank of America and SunTrust Bank as Managing Agents. We would also like to thank Fortis Bank
Netherland, Credit Suisse AG, BTMU Capital Corporation and DVB Bank for their participation.”
Important Cautionary Information Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws. Forward-looking statements include statements that are not statements of historical facts,
and include, but are not limited to, statements concerning the initial and future interest rates under the securitization facility. Readers are cautioned that these forward-looking
statements involve risks and uncertainties, are only predictions and may differ materially from actual future events or results.
The Company’s views, estimates, plans and outlook as described within this document may change subsequent to the release of this press release. The Company is under no obligation to
modify or update any or all of the statements it has made in this press release despite any subsequent changes that the Company may make in its views, estimates, plans or outlook for the future.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world’s largest lessor of intermodal containers based on fleet size. We have a total of 1.5 million containers, representing over 2.2 million twenty-foot
equivalent units (TEU), in our owned and managed fleet. We lease containers to more than 400 shipping lines and other lessees, including each of the world’s top 20 container lines,
as measured by the total TEU capacity of their container vessels. We believe we are one of the most reliable lessors of containers, in terms of consistently being able to supply containers
in locations where our customers need them. We have provided an average of 96,000 TEU of new containers per year for the past 10 years and have been one of the largest purchasers of
new containers among container lessors over the same period. We are one of the largest sellers of used containers among container lessors, having sold more than 100,000 containers during
the last year to more than 1,000 customers. We provide our services worldwide via a network of regional and area offices and independent depots.
SOURCE: Textainer Group Holdings Limited
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Corporate Compliance Officer
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries to Trencor and Mobile
30 June 2010
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER TO PRESENT AT THE 2010 DEUTSCHE BANK INDUSTRIALS CONFERENCE
22 June 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRENCOR’S TEXTAINER TO PRESENT AT THE 2010 DEUTSCHE BANK INDUSTRIALS CONFERENCE
|
Textainer Group Holdings Limited (NYSE:TGH) (“Textainer”), the world’s largest lessor of
intermodal containers based on fleet size, has announced that the Company’s President and CEO, John A. Maccarone, is scheduled to present at the 2010
Deutsche Bank Industrials Conference in Chicago on Tuesday, June 23, 2010 at 8:40 a.m. EDT.
The presentation will be broadcast live over the Internet and can be accessed at http://www.corporate-ir.net/ireye/confLobby.zhtml?ticker=TGH&item_id=3082145.
In addition, the accompanying slide presentation and webcast will be available in the Investor Relations section of Textainer’s Web site at www.textainer.com.
Trencor Services (Pty) Ltd
Secretaries to Trencor and Mobile
22 June 2010
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER TO PRESENT AT THE WELLS FARGO SECURITIES INDUSTRIAL CONFERENCE
10 June 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRENCOR’S TEXTAINER TO PRESENT AT THE WELLS FARGO SECURITIES INDUSTRIAL CONFERENCE
|
We draw attention to the following news release issued by Textainer Group Holdings Limited,
in which Trencor has a 62,0% interest:
“Hamilton, Bermuda, June 09, 2010 (Business Wire) -- Textainer Group Holdings Limited (NYSE:TGH) (“Textainer”), the world’s largest lessor of intermodal containers
based on fleet size, today announced that the Company’s CFO, Ernest J. Furtado, is scheduled to present at the Wells Fargo Securities Industrial Conference in
New York on Tuesday, June 15, 2010 at 9:05 a.m. ET.
The presentation will be broadcast live over the Internet and can be accessed at http://www.wsw.com/webcast/wa64/tgh/. In addition, the accompanying slide presentation
and webcast will be available in the Investor Relations section of Textainer’s Web site at http://www.textainer.com.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world’s largest lessor of intermodal containers based on fleet size. We have a total of 1.5 million containers,
representing over 2.2 million twenty-foot equivalent units (TEU), in our owned and managed fleet. We lease containers to more than 400 shipping lines and other lessees,
including each of the world’s top 20 container lines, as measured by the total TEU capacity of their container vessels. We believe we are one of the most reliable lessors
of containers, in terms of consistently being able to supply containers in locations where our customers need them. We have provided an average of 96,000 TEU of new
containers per year for the past 10 years and have been one of the largest purchasers of new containers among container lessors over the same period. We are one of the largest
sellers of used containers among container lessors, having sold more than 100,000 containers during the last year to more than 1,000 customers. We provide our services worldwide
via a network of regional and area offices and independent depots.
Source: Textainer Group Holdings Limited
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries to Trencor and Mobile
10 June 2010
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETINGS
26 May 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETINGS
|
At the annual general meetings of Trencor and Mobile held today, all the ordinary and
special resolutions proposed at the meetings were approved by the requisite majority of votes. The special resolutions will now be lodged with the
Companies and Intellectual Property Registration Office for registration.
Trencor Services (Pty) Ltd
Secretaries
26 May 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
FIRST QUARTER UPDATE
6 May 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
FIRST QUARTER UPDATE
|
Holders of securities in Trencor and Mobile are advised that Textainer Group Holdings Ltd (NYSE: TGH),
in which Trencor has a 62,0% interest, has announced US GAAP earnings of US$24,2 million for the quarter ended 31 March 2010 compared with US$20,9 million for
the same period in 2009. Profit for the first quarter last year included a US$2,5 million gain arising on the early extinguishment of debt following the purchase
and cancellation of some of the 2005-1 Series Bonds. Textainer’s results may be viewed on its website www.textainer.com.
Adjusted to conform with IFRS, Textainer’s earnings for the quarter ended 31 March 2010 were US$21,5 million(same period 2009: US$21,2 million including
US$2,5 million gain arising on early extinguishment of debt).
Trencor’s earnings for the quarter to 31 March 2010 are as follows:
| |
Quarter ended 31 March |
Year ended 31 December |
| |
2010 |
2009 |
2009 |
| |
Cents per share Unaudited |
Cents per share Unaudited |
Cents per share Audited |
| HEADLINE EARNINGS |
46,3 |
90,9 |
134,8 |
Add/(Deduct):
Unrealised foreign exchange translation
losses/(gains) |
2,3 |
(23,2) |
114,6 |
| |
48,6 |
67,7 |
249,4 |
Deduct:
Gain realised on the repurchase and
early extinguishment of debt by
Textainer |
- |
(8,0) |
(45,9) |
| ADJUSTED HEADLINE EARNINGS |
48,6 |
59,7 |
203,5 |
| SA rand to US dollar: |
|
|
|
| - Period-end rate of exchange |
R7,30 |
R9,60 |
R7,35 |
| - Average rate of exchange for period |
R7,54 |
R9,82 |
R8,33 |
Adjusted headline earnings excludes the effect of net unrealised foreign exchange gains and losses arising on the translation of the long-term
receivables and related valuation adjustment and in 2009, the gain on the early extinguishment of debt.
The decline in adjusted headline earnings compared to the same quarter last year is mainly due to the 30% strengthening in the average
SA rand/US dollar exchange rate used to translate US dollar denominated income into rand.
In US dollar terms, adjusted headline earnings per share for the first quarter were 6,5 US cents (2009: 6,0 US cents).
Textainer’s fleet utilisation in the last week of April 2010 was 94,9% (31 December 2009: 88,6%).
Textainer has ordered more than 70 000 twenty foot equivalent units of new containers for delivery in the first half of 2010.
Mobile’s headline earnings per share for the quarter were 3,7 cents (same period 2009: 7,3 cents, full year 2009: 10,8 cents).
The financial information on which this trading update is based has not been reviewed or reported on by Trencor’s or Mobile’s independent auditors.
On behalf of the Boards
NI Jowell C Jowell |
Chairman Trencor Limited Chairman Mobile Industries Limited |
6 May 2010
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
DISTRIBUTION OF ANNUAL REPORTS, NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETINGS
04 May 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
DISTRIBUTION OF ANNUAL REPORTS, NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETINGS
|
Trencor and Mobile have distributed their annual financial statements in respect of the
year ended 31 December 2009 and they are unchanged from the reviewed results released on SENS on 19 February 2010.
The annual general meetings will be held on Wednesday, 26 May 2010, at 1313 Main Tower, Standard Bank Centre, Heerengracht, Cape Town, commencing at 15:00
to transact the business as stated in the annual general meeting notices forming part of the annual financial statements.
Trencor Services (Pty) Ltd
Secretaries
4 May 2010
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF FIRST QUARTER 2010 RESULTS AND QUARTERLY CALL
22 April 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF FIRST QUARTER 2010 RESULTS AND QUARTERLY CALL
|
We draw attention to the following news release issued by Textainer Group Holdings Limited,
in which Trencor has a 62,1% interest:
“Hamilton, Bermuda, April 21, 2010 (Business Wire) -- Textainer Group Holdings Limited (NYSE:TGH) ("Textainer"), the world's largest lessor of intermodal
containers based on fleet size, today reported that it will announce results for the first quarter ended March 31, 2010 at 9:00 am EST on May 5, 2010.
Investors' Webcast
Textainer will hold a conference call and Webcast with an accompanying slide presentation at 11:00 am EST on Wednesday May 5, 2010 to discuss Textainer's 2010
first quarter results. An archive of the Webcast will be available one hour after the live call through May 5, 2011. For callers in the U.S. the dial-in number
for the conference call is 877-303-9078; for callers outside the U.S. the dial-in number for the conference call is 970-315-0455. To access the live Webcast or
archive, please visit Textainer's website at http://www.textainer.com.
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries
22 April 2010
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
TRENCOR’S TEXTAINER: ANNUAL REPORT FOR 2009
18 March 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER: ANNUAL REPORT FOR 2009
|
Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 62,1% interest, has filed its Form 20-F (annual report for the year ended 31 December 2009) with the US SEC.
The report can be accessed on Textainer’s website http://investor.textainer.com/sec.cfm and a PDF thereof can be accessed here.
Trencor Services (Pty) Ltd
Secretaries
18 March 2010
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER TO PRESENT AT THE J.P. MORGAN AVIATION, TRANSPORTATION AND DEFENSE CONFERENCE
3 March 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRENCOR’S TEXTAINER TO PRESENT AT THE J.P. MORGAN AVIATION, TRANSPORTATION AND DEFENSE CONFERENCE
|
We draw attention to the following news release issued by Textainer Group Holdings Limited,
in which Trencor has a 62,3% interest:
“Hamilton, Bermuda, March 02, 2010 (Business Wire) -- Textainer Group Holdings Limited (NYSE:TGH) (“Textainer”), the world's largest lessor of intermodal
containers based on fleet size, today announced that the Company's President and CEO, John A. Maccarone, is scheduled to present at the J.P. Morgan Aviation,
Transportation and Defense Conference in New York on Wednesday, March 10, 2010 at 9:00 a.m. ET.
The presentation will be broadcast live over the Internet and can be accessed at http://metameetings.com/webcasts/jpmorgan/aviation10/directlink?ticker=TGH.
In addition, the accompanying slide presentation and webcast will be available in the Investor Relations section of Textainer's Web site at http://www.textainer.com/.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world's largest lessor of intermodal containers based on fleet size. We have a total of more than 1.5 million containers,
representing over 2.2 million TEU, in our owned and managed fleet. We lease containers to more than 400 shipping lines and other lessees. We principally lease dry freight
containers, which are by far the most common of the three principal types of intermodal containers, although we also lease specialized and refrigerated containers.
We have also been one of the largest purchasers of new containers among container lessors over the last 10 years. We believe we are also one of the largest sellers of used
containers, having sold more than 100,000 containers during the last year to more than 1,000 customers. We provide our services worldwide via a network of offices and
independent depots.
Source:
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries to Trencor and Mobile
3 March 2010
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR LIFTS DIVIDEND DESPITE 19% DROP IN EARNINGS
18 February 2010
Trencor Ltd, which owns 62,3% of the New York-listed Textainer container group, saw adjusted headline
earnings per share decline by 19% from 251,9 cents in 2008 to 203,5 cents in the year to December 2009.
A final dividend per share of 85 cents was declared, bringing the total for the year to 120 cents, a 9% increase on the 110 cents paid in 2008.
Trencor’s chairman, Neil Jowell, said trading profit decreased by 26% from R932 million in 2008 to R688 million. This was after net financing costs but excluding unrealised gains and
losses on interest rate swaps and gains on early extinguishment of debt in Textainer. After accounting for the unrealised gains and losses on the interest rate swaps, the decrease in
trading profit was 4% from R810 million in 2008 to R781 million in 2009.
Jowell said that over the life of an interest rate swap held to maturity, which Textainer intended to do, the unrealised gains or losses would net to zero.
Trencor’s net unrealised foreign exchange losses arising on translation of net dollar receivables and the related valuation adjustments, included in headline earnings of
134,8 cents per share (420,8 cents per share in 2008) but not in adjusted headline earnings, were R298 million before tax or 115 cents per share (2008: profit R439 million before tax
or 169 cents per share). The year-end R/US$ exchange rate was R7,35 against R9,27 in 2008.
Jowell said Trencor’s consolidated gearing ratio dropped to 88% at year-end from 101% in 2008. All of the interest-bearing debt was in Textainer.
Textainer’s net profit for the year, including net gains on repurchase and extinguishment of debt amounting to US$15,3 million, was US$92,0 million, against US$87,7 million in 2008.
“Current fleet utilisation at Textainer, the world’s largest lessor of marine containers, has improved to 91% from 86% at the end of June 2009. Every 1% change in utilisation,
based on Textainer’s fleet size and current lease rates, equates to about US$4,4 million change in the company’s annual pre-tax profit.”
Textainer expected to resume buying significant quantities of new standard dry freight containers this year and had already ordered 33 370 TEU (20-foot equivalent units) for delivery by May.
Jowell said the proportion of the total Textainer container fleet under management that is subject to long-term leases remained above 70%.
Mobile Industries Ltd which owns 46% of Trencor, reported basic earnings per share of 11,1 cents for the year (2008: 28,6 cents). Mobile declared a final dividend per share of 6,9 cents,
bringing the total payout for the year to 9,7 cents, against 8,85 cents in 2008.
Top of Page
TRADING STATEMENT
10 February 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRADING STATEMENT
|
Shareholders in Trencor and Mobile are advised that Trencor expects to report
ADJUSTED HEADLINE EARNINGS for the year ended 31 December 2009 some 20% lower at between 195 and 210 cents per share (2008: 251,9 cents per share).
Adjusted Headline Earnings is the appropriate measure of Trencor’s financial performance in that it excludes the effect of unrealised foreign exchange translation gains and losses
as well as gains realised by Textainer on the repurchase and early extinguishment of portion of its own debt. Largely due to the effect of the strengthening of the spot
US$/R exchange rate on unrealised foreign exchange translation gains and losses, HEADLINE EARNINGS are expected to be between 125 and 140 cents per share for the year ended
31 December 2009 (2008: 420,8 cents per share). BASIC EARNINGS per share are expected to be between 130 and 145 cents per share (2008: 353,8 cents per share).
These changes are mainly the result of the following:
-
The spot US$/R exchange rate strengthened from US$1 = 9,27 at 31 December 2008 to US$1 = R7,35 at 31 December 2009. This resulted in net realised and unrealised exchange
losses of approximately R298 million for the year arising on the translation of the long-term receivables and related valuation adjustment from US dollars into rand
(2008: gain R439 million). The effect of these losses on adjusted headline earnings per share in 2009 is 115 cents (2008: gain 169 cents).
-
Net gains realised in 2009 by Textainer on the repurchase and early extinguishment of a portion of its own debt had the effect of increasing earnings per share by 46,0 cents
(2008: nil).
-
More difficult trading conditions experienced during the year under review compared to 2008.
Based on Trencor’s estimated headline earnings above, Mobile is expected to report HEADLINE EARNINGS of between 10 and 12 cents per share (2008: 31,1 cents). Earnings per share
are expected to be between 10 and 12 cents per share (2008: 28,6 cents).
This forecast financial information has not been reviewed and reported on by Trencor’s and Mobile’s independent auditors. The Reviewed Results in respect of the year ended 31 December 2009
are expected to be published in the second half of February 2010.
ON BEHALF OF THE BOARDS
NI JOWELL C JOWELL |
CHAIRMAN TRENCOR LIMITED CHAIRMAN MOBILE INDUSTRIES LIMITED |
10 February 2010
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER REPORTS RESULTS
10 February 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER REPORTS RESULTS
|
Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 62,3% interest,
has reported its results for the fourth quarter and year ended 31 December 2009. These results can be accessed on its website at www.textainer.com.
Trencor Services (Pty) Ltd
Secretaries
10 February 2010
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF FOURTH QUARTER 2009 RESULTS AND FULL YEAR RESULTS AND QUARTERLY CALL
28 January 2010
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF FOURTH QUARTER 2009 RESULTS AND FULL YEAR RESULTS AND QUARTERLY CALL
|
We draw attention to the following news release issued by Textainer Group Holdings Limited,
in which Trencor has a 62,3% interest:
“Hamilton, Bermuda, Jan 28, 2010 (Business Wire) -- Textainer Group Holdings Limited (NYSE: TGH) (“Textainer”), the world's largest lessor of intermodal
containers based on fleet size, today reported that it will announce results for the fourth quarter and year ended December 31, 2009 at 9:00 am EST on February 10, 2010.
Investors' Webcast
Textainer will hold a conference call and Webcast with an accompanying slide presentation at 11:00 am EST on February 10, 2010 to discuss Textainer's 2009
fourth quarter and full year results. An archive of the Webcast will be available one hour after the live call through February 10, 2011.
For callers in the U.S. the dial-in number for the conference call is 888-240-0584; for callers outside the U.S. the dial-in number for the conference
call is 913-312-0670. To access the live Webcast or archive, please visit Textainer's website at http://www.textainer.com.
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries
28 January 2010
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER TO HOST INVESTOR AND ANALYST EVENT ON 16 NOVEMBER 2009
10 November 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRENCOR’S TEXTAINER TO HOST INVESTOR AND ANALYST EVENT ON 16 NOVEMBER 2009
|
We draw attention to the following news release issued by Textainer Group Holdings Limited,
in which Trencor has a 62,3% interest:
“Hamilton, Bermuda, Nov 10, 2009 (Business Wire) -- Textainer Group Holdings Limited (NYSE: TGH) (“Textainer”), the world's largest lessor of intermodal
containers based on fleet size, announced today that it will host an investor and analyst meeting on November 16, 2009 at 12:00 pm (EST) in New York.
The meeting will be broadcast over the Internet. The webcast and accompanying slide presentation will be available on the investor link of the Textainer
website at www.textainer.com.
The link to the webcast will be live just prior to the start of the presentation and will be available for on-demand replay within 24 hours. An archive
of the webcast will also be available through the website for a period of one year.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world's largest lessor of intermodal containers based on fleet size. We have a total of more than 1.5 million
containers, representing over 2.3 million TEU, in our owned and managed fleet. We lease containers to more than 400 shipping lines and other lessees.
We lease dry freight containers, which are by far the most common of the three principal types of intermodal containers, as well as specialized and refrigerated
containers. We have also been one of the largest purchasers of new containers among container lessors over the last 10 years. We believe we are also one of the
largest sellers of used containers, having sold more than 170,000 containers during the last two years to more than 1,000 customers. We provide our services
worldwide via a network of offices and independent depots.
Contact:
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries to Trencor and Mobile
10 November 2009
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
THIRD QUARTER UPDATE
5 November 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
THIRD QUARTER UPDATE
|
Holders of securities in Trencor and Mobile are advised that Textainer Group Holdings Limited (NYSE: TGH),
in which Trencor has a 62,3% interest, has announced US GAAP earnings of US$65,4 million for the nine months ended 30 September 2009 compared with US$72,3 million
for the same period in 2008. Profit for the nine months to 30 September 2009 includes a US$15,3 million gain arising on the early extinguishment of debt; this was
the result of the purchase and cancellation of some of Textainer’s 2005-1 Series Bonds. Textainer’s results may be viewed on its website www.textainer.com.
Adjusted to conform with IFRS, Textainer’s earnings for the nine months ended 30 September 2009 were US$66,9million (same period 2008: US$72,9 million).
Trencor’s consolidated trading results and earnings for the nine months to 30 September 2009 are as follows:
| |
|
9 months ended 30 September |
Year ended 31 December |
| |
|
2009 |
2008 |
2008 |
| |
|
Unaudited |
Unaudited |
Audited |
| Trading profit after net financing costs |
Rm |
583 |
679 |
810 |
| Net realised and unrealised foreign exchange translation (losses)/gains |
Rm |
(296) |
270 |
439 |
| Headline earnings attributable to equity holders of the company |
Rm |
149 |
552 |
788 |
| Adjusted headline earnings attributable to equity holders of the company |
Rm |
276 |
358 |
472 |
| Headline earnings per share |
Cents |
79,6 |
294,9 |
420,8 |
| Adjusted headline earnings per share |
Cents |
147,3 |
191,1 |
251,9 |
| SA rand to US dollar: |
|
|
|
|
| - Period-end rate of exchange |
|
R7,36 |
R8,29 |
R9,27 |
| - Average rate of exchange for period |
|
R8,62 |
R7,62 |
R8,12 |
Following the adoption of the 2008 improvements to IFRS with effect from 1 January 2009, headline earnings for the nine months includes net gains
and losses arising from the ongoing disposals from Textainer’s container leasing fleet; the comparative amounts for 2008 have been restated accordingly.
Adjusted headline earnings continues to include the effect of net gains and losses arising from the ongoing disposals from Textainer’s container
leasing fleet and exclude the effect of net unrealised foreign exchange gains and losses arising on the translation of the long-term receivables and
related valuation adjustment and gains realised by Textainer on the early extinguishment of debt.
Mobile’s headline earnings per share for the nine months were 5,7 cents (same period 2008: 23,9 cents, full year 2008: 34,1 cents).
The financial information on which this trading update is based has not been reviewed or reported on by Trencor’s or Mobile’s independent auditors.
On behalf of the Boards
NI Jowell C Jowell |
Chairman Trencor Limited Chairman Mobile Industries Limited |
5 November 2009
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF THIRD QUARTER 2009 RESULTS AND QUARTERLY CALL
23 October 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF THIRD QUARTER 2009 RESULTS AND QUARTERLY CALL
|
We draw attention to the following news release issued by Textainer Group Holdings Limited,
in which Trencor has a 62,3% interest:
“Hamilton, Bermuda, Oct 22, 2009 (Business Wire) -- Textainer Group Holdings Limited (NYSE: TGH) (“Textainer”), the world's largest lessor of intermodal
containers based on fleet size, today reported that it will announce results for the third quarter ended September 30, 2009 at 9:00 am EDT on November 4, 2009.
Investors' Webcast
Textainer will hold a conference call and Webcast with an accompanying slide presentation at 11:00 am EDT on Wednesday November 4, 2009 to discuss
Textainer's 2009 third quarter results. An archive of the Webcast will be available one hour after the live call through November 4, 2010.
For callers in the U.S. the dial-in number for the conference call is 800-378-6902; for callers outside the U.S. the dial-in number for the conference call is
913-312-0652. To access the live Webcast or archive, please visit Textainer's website at http://www.textainer.com.
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries
23 October 2009
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER TO ACQUIRE CONTAINERS FROM AMFICON
19 October 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRENCOR’S TEXTAINER TO ACQUIRE CONTAINERS FROM AMFICON
|
We draw attention to the following news release issued by Textainer Group Holdings Limited,
in which Trencor has a 62,3% interest:
“Hamilton, Bermuda, October 19, 2009 - Textainer Group Holdings Limited (NYSE: TGH) (“Textainer” or “the Company”), the world’s largest lessor of intermodal
containers based on fleet size, today announced that the Company has purchased 31,000 containers (53,000 TEU) it has been managing for Amphibious Container
Leasing Limited (“Amficon”). Approximately thirty-six percent of these containers are specialty containers, such as flatracks and open tops, with the balance
consisting of dry freight containers. The effective date of this transaction is October 1, 2009.
“We are pleased to once again take advantage of current industry fundamentals and enter into another accretive transaction for shareholders,” stated
John A. Maccarone, President and CEO of Textainer. “With the purchase of the 31,000 containers, we have increased the ownership portion of our fleet,
positioning Textainer to further increase its profitability. While managing containers provides distinct benefits, we will continue to seek to utilize our
strong financial flexibility to capitalize on similar opportunities aimed at continuing to grow our net income.” commented Mr. Maccarone.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world’s largest lessor of intermodal containers based on fleet size. We have a total of more than 1.5 million
containers, representing over 2.3 million TEU, in our owned and managed fleet. We lease containers to more than 400 shipping lines and other lessees.
We principally lease dry freight containers, which are by far the most common of the three principal types of intermodal containers, although we also
lease specialized and refrigerated containers. We have also been one of the largest purchasers of new containers among container lessors over the last 10 years.
We believe we are also one of the largest sellers of used containers, having sold more than 170,000 containers during the last two years to more than 1,000
customers. We provide our services worldwide via a network of offices and independent depots.
Contact:
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries to Trencor and Mobile
19 October 2009
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER CONCLUDES LARGE REFRIGERATED CONTAINER TRANSACTION WITH HANJIN SHIPPING
18 August 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRENCOR’S TEXTAINER CONCLUDES LARGE REFRIGERATED CONTAINER TRANSACTION WITH HANJIN SHIPPING
|
We draw attention to the following news release issued by Textainer Group Holdings Limited,
in which Trencor has a 62,3% interest:
“Hamilton, Bermuda, August 18, 2009 (Business Wire) -- Textainer Group Holdings Limited (NYSE: TGH) (“Textainer” or the “Company”), the world’s largest lessor
of intermodal containers based on fleet size, today reported that 650 40’ High Cube reefers have been committed to a long-term lease with Hanjin Shipping with
delivery starting in September 2009.
Hanjin Shipping is the largest container carrier in South Korea, and the 10th largest carrier in the World, operating some 60 services across the globe.
Textainer entered the refrigerated container market in 2008, and now operates a fleet of 10,000 refrigerated containers.
“We are pleased to have concluded our largest single new reefer transaction, positioning the Company to further enhance its industry leadership and earnings
potential over the long-term,” commented John A. Maccarone, President and CEO of Textainer. “The accretive reefer transaction with Hanjin Shipping, which will
result in a $10.5 million capital expenditure, meets our strict return criteria and furthers our strategy of securing a significant percentage of our fleet on
long-term leases. With more than $350 million in liquidity and low leverage, we intend to continue to seek additional opportunities to further grow the Company
in a disciplined manner.”
Mr. Maccarone continued, “Despite the downturn in the global shipping market, demand for reefers has remained relatively strong. Since dry-freight container
manufacturers remain closed, it is likely that refrigerated containers will be the only new production added to the world container fleet during 2009.”
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world’s largest lessor of intermodal containers based on fleet size. We have a total of more than 1.5 million containers,
representing over 2.3 million TEU units, in our owned and managed fleet. We lease containers to more than 400 shipping lines and other lessees. We principally lease
dry freight containers, which are by far the most common of the three principal types of intermodal containers, although we also lease specialized and refrigerated
containers. We have also been one of the largest purchasers of new containers among container lessors over the last 10 years. We believe we are also one of the
largest sellers of used containers, having sold more than 170,000 containers during the last two years to more than 1,000 customers. We provide our services worldwide
via a network of 14 regional and area offices and over 330 independent depots in more than 150 locations.
Contact:
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries to Trencor and Mobile
18 August 2009
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR MAINTAINS INTERIM DIVIDEND
13 August 2009
Trencor Ltd has maintained its interim dividend at 35 cents per share despite adjusted headline earnings
per share dropping to 113,1cents from 129,5 cents in the corresponding 2008 period. Adjusted headline earnings per share excludes the effect of foreign exchange
translation gains and losses as well as profits realised by Textainer on the early extinguishment of debt.
Trencor, which has a 62,3% interest in the New York-listed Textainer container leasing group, said trading profit from continuing operations, after net interest,
which is earned in US dollars, increased by 2% from R443 million to R451 million during the six months to 30 June. Expressed in dollars, trading profit decreased
by 15% from US$58,5 million to US$49,8 million.
In a trading statement last week, Trencor said the spot exchange rate strengthened by 153 cents from US$1 = R9,27 at 31 December 2008 to R7,74 at 30 June 2009.
In the corresponding period last year, the spot exchange rate weakened by 107 cents.
Net exchange losses, arising on translation into rand of the net dollar receivables and the related valuation adjustment, came to R235 million against a gain in 2008 of R194 million.
This non-cash adjustment had the effect of decreasing earnings per share by 90 cents against an increase of 75 cents per share in 2008.
Headline earnings per share, which includes the effect of foreign exchange translation gains and losses and profits realised by Textainer on early extinguishing debt, were 68,8 cents (2008: 204,1 cents).
Trencor’s chairman, Neil Jowell, said Textainer’s interest-bearing debt was reduced by US$97,2 million during the six months to June through debt repurchases and net repayments.
He said Textainer’s net profit for the half year was US$53 million (2008: US$48 million). This included US$15 million realised on the early extinguishing of debt.
“The cyclical downturn in the container shipping industry was evident in the shift in the average utilisation of the Textainer container fleet. For the first quarter of the
year this was 90,7% but for the second quarter it was 86,9%. For the first six months of 2008 it was 93,4%. Spot utilisation at 30 June was 85,4%, compared with 95,5% in 2008.”
Jowell said Textainer’s total managed fleet increased by 15% following the purchase of the rights to manage the container fleet of Amphibious Container Leasing effective 1 May and the Capital Intermodal and Xines fleets from 1 July.
He said 70% of the more than 2,1 million TEU (twenty foot equivalent unit) fleet under Textainer management at 30 June was on long-term lease compared to 67,9% of the fleet in June 2008.
Mobile Industries Ltd which owns 46% of Trencor, also maintained its interim dividend at 2,8 cents per share. Mobile reported headline earnings per share of 5,5 cents for the half year (2008: 16,5 cents).
The interim results can be accessed here.
Top of Page
TRENCOR’S TEXTAINER REPORTS QUARTERLY AND HALF YEAR RESULTS
11 August 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER REPORTS QUARTERLY AND HALF YEAR RESULTS
|
Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 62,3% interest, has reported its results for the second quarter
and six months ended 30 June 2009. These results can be accessed on its website at www.textainer.com and a PDF of its results can be accessed here.
Trencor Services (Pty) Ltd
Secretaries
11 August 2009
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRADING STATEMENT
4 August 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRADING STATEMENT
|
Holders of securities in Trencor and Mobile are advised that Trencor’s adjusted headline earnings
(which excludes net unrealised foreign exchange gains and losses on translation of long-term receivables and gains arising on the early extinguishment of debt by Textainer)
are expected to be between 110,0 and 120,0 cents per share for the six months ended 30 June 2009 (2008: 129,5 cents).
Headline earnings are expected to be between 60,0 and 70,0 cents per share compared to 204,1 cents for the same period in 2008. The principal reason for this reduction is
that unrealised foreign exchange losses, before tax, arising on the translation of the net long-term dollar-denominated receivables amounted to R235 million for the
period compared to net unrealised foreign exchange gains, before tax, of R194 million in the corresponding period in 2008; this represents a net, non-cash, turnaround
in pre-tax profit of R429 million. The spot exchange rate strengthened by 153 cents from US$1 = R9,27 at 31 December 2008 to R7,74 at 30 June 2009. In the corresponding
period last year, the spot exchange rate weakened by 107 cents. Following the adoption of Improvements to IFRS, net gains and losses arising from the sale of containers from
Textainer’s container fleet are now included in headline earnings and comparative figures have been amended as appropriate. Basic earnings for the entity as a whole are
expected to be between 70,0 and 80,0 cents per share for the six months ended 30 June 2009 (2008: 181,1 cents per share).
Based on Trencor’s estimated earnings above, Mobile is expected to report headline earnings per share of between 5,0 and 7,0 cents per share for the half year (2008: 16,5 cents).
Undiluted basic earnings for the entity as a whole are expected to be between 5,0 and 7,0 cents per share for the six months ended 30 June 2009 (2008: 14,6 cents per share).
The financial information on which this trading statement is based has not been reviewed or reported on by Trencor’s or Mobile’s independent auditors. The unaudited interim results
in respect of the six months ended 30 June 2009 are expected to be published on or about 14 August 2009.
ON BEHALF OF THE BOARDS
NI JOWELL C JOWELL |
CHAIRMAN TRENCOR LIMITED CHAIRMAN MOBILE INDUSTRIES LIMITED |
4 August 2009
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF SECOND QUARTER 2009 RESULTS
28 July 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF SECOND QUARTER 2009 RESULTS
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,3% interest:
“Hamilton, Bermuda, July 28, 2009 (Business Wire) -- Textainer Group Holdings Limited (NYSE: TGH) ("Textainer"), the world's largest lessor of intermodal containers
based on fleet size, today reported that it will announce results for the second quarter ended June 30, 2009 at 9:00 am EDT on August 11, 2009.
Investors' Webcast
Textainer will hold a conference call and Webcast with an accompanying slide presentation at 11:00 a.m. EDT on Tuesday August 11, 2009
to discuss Textainer's 2009 second quarter results. An archive of the Webcast will be available one hour after the live call through August 11, 2010.
For callers in the U.S. the dial-in number for the conference call is 877-419-6598; for callers outside the U.S. the dial-in number for the conference
call is 719-325-4846. To access the live Webcast or archive, please visit Textainer's website at http://www.textainer.com.”
Trencor Services (Pty) Ltd
Secretaries
28 July 2009
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER FURTHER EXPANDS MANAGED CONTAINER FLEET: OBTAINS RIGHTS TO MANAGE CAPITAL INTERMODAL AND XINES FLEETS
22 June 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRENCOR’S TEXTAINER FURTHER EXPANDS MANAGED CONTAINER FLEET: OBTAINS RIGHTS TO MANAGE CAPITAL INTERMODAL AND XINES FLEETS
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,3% interest:
“Hamilton, Bermuda, June 22, 2009 (Business Wire) - Textainer Group Holdings Limited (NYSE:TGH) (“Textainer” or the “Company”), the world's largest lessor of intermodal
containers based on fleet size, today reported that it entered into an agreement with Capital Intermodal Limited, Capital Intermodal GmbH, Capital Intermodal Inc., Capital
Intermodal Assets Limited (jointly, “Capital Intermodal”), and Xines Limited (“Xines”, and together with Capital Intermodal, “Capital”) to purchase the rights to manage
Capital's 156,000 twenty-foot equivalent unit (“TEU”) container fleet effective as of July 1, 2009.
With this agreement and including the acquisition of management rights for Amficon's container fleet, which was announced on April 16, 2009, Textainer has added 300,000 TEU to its
fleet, representing an increase of 15%. As a result of these purchases, Textainer will operate a fleet of approximately 2.3 million TEU.
John Maccarone, President and CEO of Textainer, commented, “We are proud to have entered into our second transaction with Ian Karan, a legend in container leasing and
trading and noted philanthropist. With this agreement, we have once again drawn upon our considerable financial flexibility to further enhance the Company's leading
position and cost effectively increase its earnings power in a low-risk manner. We expect this transaction to be immediately accretive to earnings and further reduce
our overhead cost per container. In addition, the fleet has an average age of only two years and, as a result, we anticipate it will generate attractive management
fees until at least 2019. The fleet also includes refrigerated containers, an area of emphasis for Textainer, as well as several other types of special containers which
complement our strategic growth initiatives.”
Mr. Maccarone continued, “We are pleased to continue to take advantage of this challenging economic environment and expand the Company in a disciplined manner that meets our
strict growth and return criteria. In accomplishing this important objective, we have maintained our significant financial strength, which includes over $350 million in liquidity.
Accordingly, we remain well positioned to continue to seek additional favorable opportunities in acquisitions, purchase-leasebacks and long-term lease transactions, which
we believe may arise in the second half of 2009.”
Ian K. Karan, Chairman of Capital Intermodal, said, “Two years ago, amid stiff competition, I chose Textainer to manage the 510,000 TEU Capital Lease Limited fleet. Textainer's
performance even in this challenging operating environment has been exemplary, and I remain pleased with my decision. The fleet of mostly specialized units operating under
Capital Intermodal has expanded rapidly since its inception in 2005 both organically and through the takeover of the Management of the Xines Ltd. fleet. In addition to standard
dry freight containers, the fleet consists of refrigerated, tank and bulk containers and also includes open tops, flat racks, bitumen and other highly specialized equipment.
Capital Intermodal's customer base extends over 100 operators and shipping lines and the investment in the owned and managed fleet totals over $500 million. In today's difficult
economic environment, it seemed obvious to me that a company of the scale and depth of Textainer should guide Capital Intermodal going forward.
“Inevitably, Textainer was the best choice to manage a large part of the fleet. Capital Intermodal will continue to be an investor in containers and will operate certain types of
equipment such as tank containers for its own account.”
Important Cautionary Information Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws. Forward-looking statements include statements that are not statements of historical
facts, and include, without limitation, statements regarding (i) Textainer's expectation that the acquisition of management rights to Capital's container fleet will cost effectively
increase its earnings power in a low-risk manner; (ii) Textainer's expectation that the Capital acquisition will be immediately accretive to earnings and further reduce its overhead
cost per container; (iii) Textainer's expectation that the Capital acquisition will generate attractive management fees until at least 2019 and (iv) Textainer's belief that additional
favorable opportunities in acquisitions, purchase-leasebacks and long-term lease transactions may arise in the second half of 2009. These risks and uncertainties include, without limitation,
the possibility that the economies of scale, cost savings, and any other synergies expected from the acquisition may not be fully realized or may take longer to realize than expected;
the risk that the acquisition could present unforeseen integration obstacles or costs; the continued downturn and other adverse developments in the global economy; the Company's continued
ability to finance any future transactions, including the Company's continued borrowing availability under its debt facilities; and other risks and uncertainties, including those set forth
in the Company's filings with the Securities and Exchange Commission. For a discussion of some of these risks and uncertainties, see Item 3, “Key Information - Risk Factors” and Item 5,
“Operating and Financial Review and Prospects” in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2008 filed with the Securities and Exchange
Commission on March 16, 2009 and the risks and uncertainties described in the Company's Quarterly Report on Form 6-K for the three months ended March 31, 2009 filed with the
Securities and Exchange Commission on May 12, 2009.
The Company's views, estimates, plans and outlook as described in this press release may change subsequent to the release of this press release. The Company is under no obligation
to modify or update any or all of the statements it has made herein despite any subsequent changes the Company may make in its views, estimates, plans or outlook for the future.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world's largest lessor of intermodal containers based on fleet size. We currently have a total of more than 1.3 million containers, representing
2.15 million TEU, in our owned and managed fleet. We lease containers to more than 400 shipping lines and other lessees. We principally lease dry freight containers, which are by far the
most common of the three principal types of intermodal containers, although we also lease refrigerated and other specialized containers. We have been one of the largest purchasers of
new containers among container lessors over the last 10 years. We believe we are one of the largest sellers of used containers, having sold more than 170,000 containers during the
last two years. We provide our services worldwide via a network of 14 regional and area offices and over 330 independent depots in more than 150 locations.
SOURCE: Textainer Group Holdings Limited
Textainer Group Holdings Limited
Mr. Tom Gallo
Investor Relations Director
Ph:415-658-8227
ir@textainer.com”
or
Capital Intermodal GmbH
Mrs. Navina Karan, +49-40-41 47 79 38
n.karan@capital-intermodal.com”
Trencor Services (Pty) Ltd
Secretaries to Trencor and Mobile
22 June 2009
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETINGS
11 June 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETINGS
|
At the annual general meetings of Trencor and Mobile held today, all the ordinary and
special resolutions proposed at the meetings were approved by the requisite majority of votes. The special resolutions will now be lodged with the
Companies and Intellectual Property Registration Office for registration.
Trencor Services (Pty) Ltd
Secretaries
11 June 2009
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
FIRST QUARTER UPDATE
6 May 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
FIRST QUARTER UPDATE
|
Holders of securities in Trencor and Mobile are advised that Textainer Group Holdings Limited (NYSE: TGH),
in which Trencor has a 62,3% interest, has announced US GAAP earnings of US$20,9 million for the quarter ended 31 March 2009 compared with US$17,4 million
for the same period in 2008. Profit for the first quarter of 2009 includes US$2,5 million gain arising on the early extinguishment of debt; this was the
result of the purchase and cancellation of some of the 2005-1 Series Bonds. Textainer’s results may be viewed on its website www.textainer.com.
Adjusted to conform with IFRS, Textainer’s earnings for the quarter ended 31 March 2009 were US$21,2 million (same period 2008: US$17,7 million).
Trencor’s consolidated trading results and earnings for the quarter to 31 March 2009 are as follows:
| |
|
Quarter ended 31 March |
Year ended 31 December |
| |
|
2009 |
2008 |
2008 |
| |
|
Unaudited |
Unaudited |
Audited |
| Trading profit after net financing costs |
Rm |
282 |
174 |
810 |
| Net realised and unrealised foreign exchange translation gains |
Rm |
60 |
236 |
439 |
| Headline earnings attributable to equity holders of the company |
Rm |
170 |
240 |
720 |
| Adjusted headline earnings attributable to equity holders of the company |
Rm |
127 |
83 |
472 |
| Headline earnings per share |
Cents |
90,9 |
127,9 |
384,4 |
| Adjusted headline earnings per share |
Cents |
67,7 |
44,1 |
251,9 |
| SA rand to US dollar: |
|
|
|
|
| - Period-end rate of exchange |
|
R9,60 |
R8,10 |
R9,27 |
| - Average rate of exchange for period |
|
R9,82 |
R7,46 |
R8,12 |
Following the adoption of the 2008 improvements to IFRS with effect from 1 January 2009, headline earnings for the quarter includes net
gains and losses arising from the ongoing disposals from Textainer’s container leasing fleet; the comparative amounts for 2008 have not
been amended as the improvements were adopted prospectively.
Adjusted headline earnings continues to include the effect of net gains and losses arising from the ongoing disposals from Textainer’s container
leasing fleet and exclude the effect of net unrealised foreign exchange gains and losses arising on the translation of the long-term receivables
and related valuation adjustment.
Mobile’s headline earnings per share for the quarter were 7,3 cents (same period 2008: 10,4 cents, full year 2008: 31,1 cents).
The financial information on which this trading update is based has not been reviewed or reported on by Trencor’s or Mobile’s independent auditors.
On behalf of the Boards
NI Jowell C Jowell |
Chairman Trencor Limited Chairman Mobile Industries Limited |
6 May 2009
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
DISTRIBUTION OF ANNUAL REPORTS, NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETINGS
6 May 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
DISTRIBUTION OF ANNUAL REPORTS, NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETINGS
|
Trencor and Mobile have published their annual financial statements in respect of the
year ended 31 December 2008 and they are unchanged from the reviewed results released on SENS on 19 February 2009.
The annual general meetings will be held on Thursday, 11 June 2009, at 1313 Main Tower, Standard Bank Centre, Heerengracht, Cape Town,
commencing at 15:00 to transact the business as stated in the annual general meeting notices forming part of the annual financial statements.
A PDF of the 2008 annual reports of Trencor and Mobile can be accessed here.
Trencor Services (Pty) Ltd
Secretaries
6 May 2009
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF FIRST QUARTER 2009 RESULTS
23 April 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER ANNOUNCES DATE FOR RELEASE OF FIRST QUARTER 2009 RESULTS
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,3% interest:
“Hamilton, Bermuda, April 21, 2009 (Business Wire) -- Textainer Group Holdings Limited (NYSE: TGH) (“Textainer”), the world's largest
lessor of intermodal containers based on fleet size, today reported that it will announce results for the first quarter ended March 31, 2009
at 9:00 am EDT on May 6, 2009.
Investors' Webcast
Textainer will hold a conference call and Webcast with an accompanying slide presentation at 11:00 am EDT on Wednesday May 6, 2009
to discuss Textainer's 2009 first quarter results. An archive of the Webcast will be available one hour after the live call through May 6, 2010.
For callers in the U.S. the dial-in number for the conference call is 877-741-4244; for callers outside the U.S. the dial-in number for the conference
call is 719-325-4773. To access the live Webcast or archive, please visit Textainer's website at http://www.textainer.com.”
Trencor Services (Pty) Ltd
Secretaries
23 April 2009
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER STRATEGICALLY EXPANDS MANAGED CONTAINER FLEET: OBTAINS RIGHTS TO MANAGE AMFICON’S FLEET
16 April 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRENCOR’S TEXTAINER STRATEGICALLY EXPANDS MANAGED CONTAINER FLEET: OBTAINS RIGHTS TO MANAGE AMFICON’S FLEET
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,3% interest:
“Hamilton, Bermuda (Business Wire) – April 16, 2009. Textainer Group Holdings Limited (NYSE: TGH) (“Textainer” or the “Company”), the world’s largest lessor of
intermodal containers based on fleet size, today reported that it entered into an agreement with Amphibious Container Leasing Limited (“Amficon”) to purchase the
rights to manage Amficon’s 150,000 twenty-foot equivalent unit (“TEU”) container fleet effective as of May 1, 2009. As a result of this purchase,
Textainer will now operate a fleet of approximately 2.2 million TEU.
John Maccarone, President and CEO of Textainer, commented: “With this agreement, Textainer has once again capitalized on an attractive opportunity with a view
toward strengthening the Company’s leading industry position and increasing its earnings power in a prudent manner. Importantly, we expect this acquisition of
management rights to provide the Company with economies of scale by reducing our overhead cost per container below its already very low level. Additionally,
Amficon’s significant number of flat rack and open top containers will more than double Textainer’s fleet of specialized containers, a market segment in which
we have made a decision to grow as we are focused on strategically increasing the scope of our service in a profitable manner. Going forward, we plan to continue
to utilize our management's expertise and our financial strength, which includes over $300 million of liquidity with its credit facilities and available cash, to
take advantage of the current market conditions and seek opportunities in acquisitions, purchase-leasebacks and long-term lease transactions that we expect will be
accretive to earnings. In accomplishing this critical objective, we remain dedicated to utilizing Textainer’s experience, size and scope to best serve its customers.”
Basil Henley, Managing Director of Amficon, commented, “We are very proud of Amficon’s achievements, having built up a world class leasing company with a strong presence
in the specialized container market. However, we firmly believe that the container leasing business should continue to consolidate in order to achieve further financial
and operational efficiencies and are excited to work with the industry leader. Given Textainer’s favorable reputation and experience, we felt that they were the best choice
for this agreement. I would like to thank our customers and our suppliers for their enduring and close relationships with Amficon over the years; and I would like to give
particular thanks to my colleagues within Amficon, whose unrivaled dedication and loyal support has made Amficon an outstanding company.”
Important Cautionary Information Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws. Forward-looking statements include statements that are not statements of historical
facts, and include, without limitation, statements regarding the Company’s expectation that (i) its acquisition of management rights to Amficon’s container fleet will provide the Company
economies of scale by reducing its overhead cost per container and (ii) the Company’s expectation that its management’s expertise and financial strength will allow it to take advantage of
the current market conditions and seek opportunities in acquisitions, purchase-leasebacks and long-term lease transactions that it expects will be accretive to earnings. Readers are cautioned
that these forward-looking statements involve risks and uncertainties, are only predictions and may differ materially from actual future events or results. These risks and uncertainties include,
without limitation, the possibility that the economies of scale, cost savings, and any other synergies expected from the acquisition may not be fully realized or may take longer to realize
than expected; the risk that the acquisition could present unforeseen integration obstacles or costs; the continued downturn and other adverse developments in the global economy; the
Company’s continued ability to finance any future transactions, including the Company’s continued borrowing availability under its debt facilities; and other risks and uncertainties,
including those set forth in the Company’s filings with the Securities and Exchange Commission. For a discussion of some of these risks and uncertainties, see Item 3,
“Key Information - Risk Factors” and Item 5, “Operating and Financial Review and Prospects” in the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2008
filed with the Securities and Exchange Commission on March 16, 2009.
The Company’s views, estimates, plans and outlook as described in this press release may change subsequent to the release of this press release. The Company is under no obligation to modify
or update any or all of the statements it has made herein despite any subsequent changes the Company may make in its views, estimates, plans or outlook for the future.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world’s largest lessor of intermodal containers based on fleet size. We currently have a total of more than 1.3 million containers,
representing over 2,000,000 TEU, in our owned and managed fleet. We lease containers to more than 400 shipping lines and other lessees. We principally lease dry freight containers,
which are by far the most common of the three principal types of intermodal containers, although we also lease refrigerated and other specialized containers. We have also been one of
the largest purchasers of new containers among container lessors over the last 10 years. We believe we are also one of the largest sellers of used containers, having sold more than
170,000 containers during the last two years. We provide our services worldwide via a network of 14 regional and area offices and over 330 independent depots in more than 130 locations.
Contact: Textainer Group Holdings Limited
Mr. Tom Gallo
Investor Relations Director
Ph:415-658-8227
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries to Trencor and Mobile
16 April 2009
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
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CHANGES TO DIRECTORATE
1 April 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
CHANGES TO DIRECTORATE
|
In terms of section 3.59 of the Listings Requirements of the JSE Limited, it is advised that:
-
Mr HA Gorvy has decided to retire and, accordingly, resigned as a non-executive director of Trencor and Mobile with effect from 31 March 2009.
-
Mr DM Nurek has been appointed as a non-executive director to the Mobile board effective 31 March 2009.
Trencor Services (Pty) Ltd
Secretaries
1 April 2009
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
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TEXTAINER ANNUAL REPORT FOR 2008
25 March 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TEXTAINER ANNUAL REPORT FOR 2008
|
Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 62,3% interest, has filed its Form 20-F
(annual report for the year ended 31 December 2008) with the US SEC. The report can be accessed on its website http://investor.textainer.com/sec.cfm and a PDF thereof can
be accessed here.
Trencor Services (Pty) Ltd
Secretaries
25 March 2009
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
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TRENCOR LIFTS DIVIDEND BY 37,5% AFTER EXCELLENT PERFORMANCE BY TEXTAINER
19 February 2009
Buoyed by an increase in net profit at Textainer, the world’s largest lessor of marine
containers, Trencor Ltd today reported an 18% increase in adjusted headline earnings per share to 251,9 cents from 214 cents for the year to
December 2008.
Trencor declared a final dividend of 75 cents per share, bringing the total payout to shareholders for the year to 110 cents per share,
a 37,5% increase.
Trencor chairman Neil Jowell said Textainer, in which Trencor has a 62,6% interest, reported net profit for the year, excluding net unrealised losses
on interest rate swaps, of US$99,8 million, a 38% increase over US$72,2 million earned in 2007.
He said Trencor’s adjusted headline earnings excluded net unrealised foreign exchange gains and losses and included net gains and losses arising from
the ongoing disposals from Textainer’s container leasing fleet.
Trencor’s trading profit from continuing operations after net interest expense increased by 27% from R733 million in 2007 to R932 million. After
accounting for the unrealised losses on the interest rate swaps in Textainer, the increase was 20% from R675 million in 2007 to R810 million.
Textainer intends to hold its interest rate swaps until maturity, he said. Over the life of an interest rate swap held to maturity, the
unrealised gains or losses netted to zero and had no effect on cash flow.
Jowell said that while overall demand for containers started to decline in the fourth quarter of 2008, utilisation of the fleet under Textainer management averaged 95,7%
during the quarter. Average utilisation of the fleet for 2008 was 94,8%, ahead of the 93,9% achieved in 2007.
Textainer’s container resale division had the best year in its history, with pre-tax profit of US$14,3 million exceeding the record 2007 results by US$4 million.
Mobile Industries Ltd which owns 46% of Trencor, reported basic earnings per share of 28,6 cents for the year (2007: 28,4 cents). Mobile declared a final dividend of 6,05 cents per share,
bringing the total payout for the year to 8,85 cents per share.
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TRADING STATEMENT
11 February 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRADING STATEMENT
|
Shareholders in Trencor and Mobile are advised that Trencor expects to report headline earnings of between 375 and 390 cents
per share for the year ended 31 December 2008 (2007: 212,9 cents per share). Adjusted headline earnings (which includes net gains and losses arising from the sale of
containers from Textainer’s leasing fleet and excludes the effect of unrealised foreign exchange translation gains and losses) are expected to be between 245 and 260 cents per
share (2007: 214,0 cents per share). These changes are mainly the result of the following:
-
Unaudited net profit of Textainer (in which Trencor has a 62,6% interest) attributable to the group increased from R325
million in 2007 to R453 million in 2008. This result was achieved after providing for the effect of unrealised losses on derivative financial instruments (interest rate swaps) of R57 million (2007: loss R21 million).
Unrealised gains and losses on these derivative instruments net out to zero over a period of time, if held to maturity, and have no effect on cash flow.
-
The spot US$/R exchange rate weakened from US$1 = R6,78 at 31 December 2007 to US$1 = R9,27 at 31 December 2008. This resulted in net
realised and unrealised exchange gains of approximately R439 million for the year on the translation of the long-term receivables and related valuation adjustment from US dollars into rand (2007: loss R29 million).
The effect of these gains on earnings per share in 2008 is 169 cents (2007: loss 11 cents).
Basic earnings are expected to be between 350 and 360 cents per share (2007: 352,5 cents per share).
Based on Trencor’s estimated headline earnings above, Mobile is expected to report headline earnings of between 30 and 32 cents per share (2007: 17,2 cents per share).
Earnings are expected to be between 28 and 30 cents per share (2007: 28,4 cents per share).
This forecast financial information has not been reviewed or reported on by Trencor’s or Mobile’s independent auditors. The Reviewed Results in respect of the year ended 31 December 2008 are
expected to be published in the second half of February 2009.
ON BEHALF OF THE BOARDS
NI JOWELL C JOWELL |
CHAIRMAN TRENCOR LIMITED CHAIRMAN MOBILE INDUSTRIES LIMITED |
11 February 2009
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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TRENCOR’S TEXTAINER REPORTS RESULTS
11 February 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER REPORTS RESULTS
|
Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 62,6% interest, has
reported its results for the fourth quarter and the year ended 31 December 2008. The results can be accessed on its website at www.textainer.com.
Trencor Services (Pty) Ltd
Secretaries
11 February 2009
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
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TEXTAINER GROUP HOLDINGS LIMITED TO PRESENT AT BB&T CAPITAL MARKETS 24TH ANNUAL TRANSPORTATION SERVICES CONFERENCE
5 February 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TEXTAINER GROUP HOLDINGS LIMITED TO PRESENT AT BB&T CAPITAL MARKETS 24TH ANNUAL TRANSPORTATION SERVICES CONFERENCE
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,6% interest:
“Hamilton, Bermuda, February 5, 2009 — Textainer Group Holdings Limited (NYSE:TGH) (“Textainer”), the world’s largest lessor of intermodal containers
based on fleet size, today announced that the Company’s President and CEO, John A. Maccarone, is scheduled to present at the BB&T Capital Markets 24th Annual
Transportation Services Conference in Coral Gables, FL on Thursday, February 12, 2009 at 11:45 a.m. ET.
The presentation will be broadcast live over the Internet and can be accessed at http://www.wsw.com/webcast/bbt13/tgh/. In addition, the accompanying
slide presentation and webcast will be available in the Investor Relations section of Textainer’s website at http://www.textainer.com/.”
Trencor Services (Pty) Ltd
Secretaries
5 February 2009
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
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TEXTAINER ANNOUNCES DATES FOR RELEASE OF FOURTH QUARTER 2008 AND FULL YEAR RESULTS AND QUARTERLY CONFERENCE CALL
4 February 2009
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TEXTAINER ANNOUNCES DATES FOR RELEASE OF FOURTH QUARTER 2008 AND FULL YEAR RESULTS AND QUARTERLY CONFERENCE CALL
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,6% interest:
“Hamilton, Bermuda, February 03, 2009 (Business Wire) -- Textainer Group Holdings Limited (NYSE: TGH) ("Textainer"), the world's
largest lessor of intermodal containers based on fleet size, today reported that it will announce results for the fourth quarter
and the year ended December 31, 2008 on February 10, 2009.
Investors' Webcast
Textainer will hold a conference call and a Webcast at 11:00 a.m. EST on Wednesday February 11, 2009 to discuss Textainer's 2008 fourth
quarter and full year results. An archive of the Webcast will be available one hour after the live call through February 11, 2010.
For callers in the U.S. the dial-in number for the conference call is 877-718-5107; for callers outside the U.S. the dial-in number
for the conference call is 719-325-4796. To access the live Webcast or archive, please visit Textainer's website at http://www.textainer.com.”
Trencor Services (Pty) Ltd
Secretaries
4 February 2009
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
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THIRD QUARTER UPDATE
6 November 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
THIRD QUARTER UPDATE
|
Holders of securities in Trencor and Mobile are advised that Textainer Group Holdings Ltd (NYSE: TGH),
in which Trencor has a 62,6% interest, is required to issue quarterly profit reports. Accordingly, Trencor and Mobile have decided to publish a trading update
in respect of the quarters ending March and September each year, of which this is the first, in addition to their Interim Results and the Reviewed Results
announcements for the periods ending June and December respectively.
Textainer has announced US GAAP earnings of US$72,3 million for the nine months ended 30 September 2008 compared with US$52,6 million for the same period in 2007.
Textainer’s results may be viewed on its website www.textainer.com.
Adjusted to conform with IFRS, Textainer’s earnings for the nine months ended 30 September 2008 were US$72,9 million (same period 2007: US$50,0 million).
Trencor’s consolidated trading results and earnings for the nine month period to 30 September 2008 are as follows:
| |
|
Nine months ended 30 September |
Year ended 31 December |
| |
|
2008 |
2007 |
2007 |
| |
|
Unaudited |
Unaudited |
Audited |
| Trading profit after net financing costs |
Rm |
678,7 |
529,8 |
675,1 |
| Net realised and unrealised foreign exchange translation gains/(losses) |
Rm |
270,1 |
15,5 |
(46,0) |
| Headline earnings attributable to equity holders of the company |
Rm |
498,9 |
219,0 |
398,5 |
| Adjusted headline earnings attributable to equity holders of the company |
Rm |
357,9 |
257,6 |
400,7 |
| Headline earnings per share |
Cents |
266,4 |
117,0 |
212,9 |
| Adjusted headline earnings per share |
Cents |
191,1 |
137,7 |
214,0 |
| SA rand to US dollar: |
|
|
|
|
| - Period-end rate of exchange |
|
R8,29 |
R6,85 |
R6,78 |
| - Average rate of exchange for period |
|
R7,62 |
R7,13 |
R7,02 |
Adjusted headline earnings includes the effect of net gains and losses arising from the ongoing disposals from Textainer’s container
leasing fleet and excludes the effect of net unrealised foreign exchange gains and losses arising on the translation of the long-term
receivables and related valuation adjustment. In respect of the comparative information, it also excludes certain non-recurring profits in TrenStar Inc.
Mobile’s headline earnings per share for the nine months were 21,6 cents (same period 2007: 9,4 cents; full year 2007: 17,2 cents).
The financial information on which this trading update is based has not been reviewed or reported on by Trencor’s or Mobile’s independent auditors.
On behalf of the Boards
NI Jowell C Jowell |
Chairman Trencor Limited Chairman Mobile Industries Limited |
6 November 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
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TRENCOR EARNINGS HIGHER ON BACK OF BIGGER TEXTAINER PROFIT, WEAKER RAND
13 August 2008
Trencor Ltd today reported a 84% increase in diluted headline earnings of 183,4 cents per share for
the six months to 30 June, compared to 99,7 cents for the same period in 2007.
This followed an increased contribution from Textainer, the world’s largest lessor of marine containers, in which Trencor has a 62,6% interest (2007: 72,3%).
On 5 August Textainer reported earnings of US$48 million for the six months compared with US$32 million for the same period in 2007.
Trencor declared an interim dividend of 35 cents per share, 59% higher than the 22 cents per share declared at the half way mark in 2007.
The group’s trading profit from continuing operations, earned mainly in US dollars, after net finance costs increased by 24% from US$47 million to US$58,5 million
during the period. This translated to a 32% increase from R336 million to R443 million.
Net exchange gains arising on translation into rand of the net dollar receivables and the related valuation adjustments amounted to R194 million, compared with
R20 million in 2007. The effect of this non-cash adjustment was to increase earnings per share by 75 cents. The effect of this in 2007 was an increase of 8 cents per share.
Trencor’s diluted adjusted headline earnings for the six months were 129,3 cents per share, compared with 104,7 cents in 2007. These included net gains and losses arising from the sale of
containers from Textainer's leasing fleet and excluded the effect of foreign exchange translation gains and losses.
The group reported that Textainer’s average utilisation of the container fleet under its management for the six months to 30 June was 93,4%, compared to the 93,6% at
the same stage of 2007. Spot utilisation at 30 June was 95,5% (2007: 94,1%).
There was also an increase in the containers under management on long term lease – 67,9% of the 2 million TEU ( twenty foot equivalent unit) under management compared to 62,7% of
the 1,5 million TEU in 2007.
Trencor said Textainer had increased its total funding facility to US$475 million from US$300 million.
Mobile Industries Ltd which owns 46% of Trencor, reported basic earnings per share of 14,6 cents for the half year (2007: 8,9 cents). Mobile declared an interim dividend of 2,8 cents per share.
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TRADING STATEMENT
6 August 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRADING STATEMENT
|
Holders of securities in Trencor and Mobile are advised that Trencor expects to report undiluted headline earnings of
between 180 and 185 cents per share for the six months ended 30 June 2008 compared to 99,9 cents for the same period in 2007. The principal reasons for this improvement are (a) an increased
contribution from Textainer, in which the group has a 62,6% interest (2007: 72,3%); Textainer has announced earnings of US$48 million for the six months compared with US$32 million for the
same period in 2007; and (b) unrealised gains, before tax, arising on the translation of the net long-term receivables which increased to R194 million for the period from R20 million in the
corresponding period in 2007. Note that the spot exchange rate declined by 107 cents from US$1 = R6,78 at 31 December 2007 to R7,85 at 30 June 2008. In the corresponding period last year,
the spot exchange rate declined by 9 cents. Adjusted undiluted headline earnings (which excludes net unrealised gains on translation of net long-term receivables but includes net gains and
losses arising from the sale of containers from Textainer’s leasing fleet) for the current period are expected to increase from 105,0 cents per share in 2007 to between 125 and 130 cents per share.
Undiluted basic earnings for the entity as a whole are expected to be between 175 and 185 cents per share for the six months ended 30 June 2008 (2007: 110,9 cents per share).
Based on Trencor’s estimated headline earnings above, Mobile is expected to report undiluted headline earnings per share of between 14 and 15 cents per share for the half year (2007: 8,1 cents).
Undiluted basic earnings for the entity as a whole are expected to be between 14 and 15 cents per share for the six months ended 30 June 2008 (2007: 8,9 cents per share).
The financial information on which this trading statement is based has not been reviewed or reported on by Trencor’s or Mobile’s independent auditors. The unaudited interim results in respect
of the six months ended 30 June 2008 are expected to be published during the week commencing 11 August 2008.
ON BEHALF OF THE BOARDS
NI JOWELL C JOWELL |
CHAIRMAN TRENCOR LIMITED CHAIRMAN MOBILE INDUSTRIES LIMITED |
6 August 2008
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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TRENCOR’S TEXTAINER REPORTS QUARTERLY RESULTS
5 August 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER REPORTS QUARTERLY RESULTS
|
Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 62,6%
beneficial interest, has reported its results for the second quarter ended 30 June 2008. The results can be accessed on its website at
www.textainer.com and a PDF of its results can be accessed here.
Trencor Services (Pty) Ltd
Secretaries
5 August 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
RELEASE OF TEXTAINER QUARTERLY RESULTS
30 July 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
RELEASE OF TEXTAINER QUARTERLY RESULTS
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,6% interest:
“Hamilton, Bermuda, July 29, 2008 (Business Wire) – Textainer Group Holdings Limited (NYSE: TGH) (“Textainer” or the “Company”), the world’s largest lessor of intermodal containers based on
fleet size, today reported that it will announce results for the second quarter ended June 30, 2008 on August 5, 2008.
Investors’ Webcast
Textainer will hold a conference call and a Webcast at 2:00 p.m. EDT on Wednesday, August 6, 2008 to discuss Textainer’s second quarter 2008 results. An archive of the
Webcast will be available one hour after the live call through August 6, 2009. The dial-in number for the conference call is 1-877-440-5803; outside the U.S. call 1-719-325-4927.
To access the live Webcast or archive, please visit the Company’s website at http://www.textainer.com.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world’s largest lessor of intermodal containers based on fleet size. We have a total of more than 1.3 million containers, representing over
2,000,000 TEU, in our owned and managed fleet. We lease containers to more than 400 shipping lines and other lessees. We principally lease dry freight containers, which are by far the most
common of the three principal types of intermodal containers, although we also lease specialized and refrigerated containers. We have also been one of the largest purchasers of new containers
among container lessors over the last 10 years. We believe we are also one of the largest sellers of used containers, having sold on average more than 53,000 containers per year for the last five years.
We provide our services worldwide via a network of 14 regional and area offices and over 350 independent depots in more than 130 locations.
CONTACT: Textainer Group Holdings Limited
Mr. Tom Gallo
Corporate Compliance Officer
415-658-8227
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries
30 July 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER ANNOUNCES EXTENSION AND SIZE INCREASE OF ITS SECURITIZATION FACILITY
3 July 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER ANNOUNCES EXTENSION AND SIZE INCREASE OF ITS SECURITIZATION FACILITY
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,6% beneficial interest:
”HAMILTON, Bermuda (BUSINESS WIRE) – July 2, 2008. Textainer Group Holdings Limited (NYSE: TGH) ("Textainer"), the world’s largest lessor of intermodal containers based on fleet size, today
announced that Textainer Marine Containers Limited ("TMCL"), Textainer’s primary asset owning subsidiary, extended and increased the size of its securitization facility. The total commitment
under the securitization facility was increased from $300 million to $475 million. The interest rate is 1.25% over LIBOR during an initial two-year revolving period. If the securitization facility
is not refinanced or renewed during this two-year period, the interest rate will increase and the facility will stop revolving and begin amortizing over a term that is scheduled to be 10 years but not to exceed 15 years.
"We are extremely pleased to have been able to extend and increase the size of TMCL’s securitization facility," said John Maccarone, Textainer’s President and Chief Executive Officer.
"Given the current challenging conditions in the credit markets in general, and the asset-backed market in particular, we believe that the success of this transaction demonstrates the
participating banks’ strong confidence in and commitment to Textainer."
"The successful completion of both this transaction and the $205 million, five-year revolving credit agreement for Textainer Limited, which closed in April,
strengthens our liquidity position. Together, we believe these facilities will help to ensure that we have access to the financing necessary to position Textainer for future growth."
Mr. Maccarone added, "We would like to thank Wachovia Capital Markets, LLC for structuring the facility. We would also like to thank Fortis Capital Corp, BTMU Capital Corporation,
HSH Nordbank AG, New York Branch, and ING Bank N.V. for their participation and continued support."
Contact: Textainer Group Holdings Limited
Mr Tom Gallo
Corporate Compliance Officer
415-658-8227
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries
3 July 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETINGS
19 May 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETINGS
|
At the annual general meetings of Trencor and Mobile held today,
the requisite majority of shareholders approved all the ordinary and special resolutions as set out in the notices and proposed at the meetings.
The special resolutions will now be lodged with the Registrar of Companies for registration.
At the annual general meeting of Trencor, Mr NI Jowell (Chairman) made the following statement:
“In the 2007 Annual Report, I noted that following the implementation over the last few years of various initiatives to
bring greater focus to our business, which included the listing of Textainer on the New York Stock Exchange, possible changes
to the listed structure in South Africa would be addressed. I would like to report on and confirm the following aspects that are relevant to this matter.
Further growth and value enhancement for Trencor’s shareholders will now be pursued through Textainer, by way of both organic growth and acquisitions.
Being the dominant global player in its core business of container leasing, and with access to international capital markets following its NYSE listing,
Textainer is well placed for growth in its chosen industry, which we believe is entering a consolidation phase during which further acquisition opportunities
should become available.
Retaining Trencor’s listing in South Africa is currently merited, as it offers a useful mechanism for South African shareholders to effectively invest in Textainer
without having to resort to their offshore investment allowances.
Against this background, we have discussed with certain of Mobile Industries’ larger shareholders, the possible collapsing of the Trencor/Mobile structure so as to
have only one listing in South Africa. Following these discussions the board believes there is insufficient support for a proposal to collapse the structure.
The board also believes Textainer will be better able to pursue its focus on mergers and acquisitions with the stable platform provided by the current shareholding structure.”
Trencor Services (Pty) Ltd
Secretaries
19 May 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
SALE OF TRENSTAR SOUTH AFRICA
13 May 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
SALE OF TRENSTAR SOUTH AFRICA
|
On 2 April 2008 we announced that all of Trencor’s interests in TrenStar SA (Pty) Ltd
had been sold to a consortium comprising the management of that company and Investec Bank Limited, effective 31 December 2007 (“the transaction”).
As the sale was regarded as a “small related party transaction” under the JSE Listings Requirements, Mazars Moores Rowland Corporate Finance (Pty) Limited,
as the JSE approved independent expert, has furnished written confirmation that in its opinion the transaction is fair to the shareholders of Trencor. The
fairness opinion is available for inspection at Trencor’s registered office for 28 days from the date of this announcement.
Trencor Services (Pty) Ltd
Secretaries
13 May 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER REPORTS QUARTERLY RESULTS
6 May 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER REPORTS QUARTERLY RESULTS
|
Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 62,6%
beneficial interest, has reported its results for the first quarter ended 31 March 2008. The results can be accessed on its website at
www.textainer.com and a PDF of its results can be accessed here.
Trencor Services (Pty) Ltd
Secretaries
6 May 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER RECEIVES U.S. NATIONAL DEFENSE TRANSPORTATION ASSOCIATION QUALITY AWARD
5 May 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER RECEIVES U.S. NATIONAL DEFENSE TRANSPORTATION ASSOCIATION QUALITY AWARD
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,6% beneficial interest:
“Hamilton, Bermuda, May 1, 2008 (Business Wire) – Textainer Group Holdings Limited (NYSE: TGH) (“Textainer” or the “Company”), the world’s largest
lessor of intermodal containers based on fleet size, received the prestigious National Defense Transportation Association (NDTA) Quality Award on April 30,
2008 at the Military Surface Deployment and Distribution Command (SDDC) Symposium in Orlando, Florida.
The award was presented to John A. Maccarone, President and CEO of Textainer by General Kenneth Wykle (Ret), NTDA President, and Major General Kathleen M. Gainey,
SDDC Commanding General. The award citation follows:
“Textainer contributed significantly to supporting war fighter requirements and the SDDC’s performance through their execution of the Single Leasing Container contract.
During 2007, Textainer provided more than 39,000 leased containers on over 250 delivery orders totaling $20 million for the DoD in direct support of Operations Iraqi and Enduring Freedom.
Their multifaceted support proved to be the key to the successful deployment / redeployment and sustainment of U.S. and Coalition Forces in the entire Central Command Area of Operation.
Textainer’s better than 95% on-time delivery performance exceeded expectations and was the corner stone in the successful unit deployment and redeployment of military cargo and the
movement of sustainment containers supporting movement to the Forward Operating Bases. Their effort in support of Central Command operations has resulted in cost avoidance to the
government in excess of $24 million.
Textainer’s equipment management team through close coordination with Pacific Command customers enabled them to attain a 100% on-time delivery rate for Exercise TURBO CADS 07.
Textainer always expresses a “can do” attitude when it comes to their operations.”
“We are just completing the fifth year of our expected ten year contract as the exclusive supplier of leased containers to the U.S. Military,” said Mr. Maccarone.
“Having completed delivery orders for more than 100,000 containers and chassis to date, 2007 was by far the busiest year of the contract. Our team worked very hard to
achieve the accomplishments mentioned in the award citation, and I am very pleased that they have been recognized for their efforts.”
Contact: Textainer Group Holdings Limited
Mr Tom Gallo
Corporate Compliance Officer
415-658-8227
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries
5 May 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
RELEASE OF TEXTAINER RESULTS
5 May 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
RELEASE OF TEXTAINER RESULTS
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,6% interest:
“Hamilton, Bermuda, April 30, 2008 (Business Wire) – Textainer Group Holdings Limited (NYSE: TGH) (“Textainer” or the “Company”), the world’s largest lessor
of intermodal containers based on fleet size, today reported that it will announce results for the first quarter ended March 31, 2008 on May 5, 2008.
Investors’ Webcast
Textainer will hold a conference call and a Webcast at 2:00 p.m. EDT on Wednesday, May 7, 2008 to discuss Textainer’s first quarter 2008 results.
An archive of the Webcast will be available one hour after the live call through May 7, 2009. The dial-in number for the conference call is
1-877-397-0235; outside the U.S. call 1-719-325-4866. To access the live Webcast or archive, please visit the Company’s website at http://www.textainer.com.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world’s largest lessor of intermodal containers based on fleet size. We have a total of more than 1.3 million containers,
representing over 2,000,000 twenty-foot equivalent units, in our owned and managed fleet. We lease containers to more than 400 shipping lines and other lessees.
We principally lease dry freight containers, which are by far the most common of the three principal types of intermodal containers, although we also
lease specialized and refrigerated containers. We have also been one of the largest purchasers of new containers among container lessors over the last 10 years.
We believe we are also one of the largest sellers of used containers, having sold more than 85,000 containers in 2007. We provide our services worldwide via a
network of 14 regional and area offices and over 350 independent depots in more than 130 locations.
CONTACT: Textainer Group Holdings Limited
Mr Tom Gallo
Corporate Compliance Officer
415-658-8227
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries
5 May 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER ANNOUNCES NEW 5-YEAR FINANCING AGREEMENT
23 April 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER ANNOUNCES NEW 5-YEAR FINANCING AGREEMENT
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,6% beneficial interest:
“Hamilton, Bermuda, April 22, 2008 -- Textainer Group Holdings Limited (NYSE:TGH) ("Textainer" or the "Company"), the world's largest
lessor of intermodal containers based on fleet size, today announced that Textainer Limited, which is a wholly-owned subsidiary of
the Company, entered into a $205 million, five-year revolving credit agreement with a group of financial institutions led by Bank
of America, N.A. and including Fortis Capital Corp., Wells Fargo Bank, National Association, Credit Industriel et Commercial,
Bayerische Hypo- und Vereinsbank AG, KeyBank National Association and Union Bank of California, N.A. The interest rate under the
credit agreement is a spread over LIBOR which varies based on the leverage of Textainer Limited. At the closing, the initial interest
rate will be LIBOR + 1.00%. The proceeds from borrowings under the credit agreement are expected to be used to purchase containers
and for general corporate purposes.
The credit agreement represents a restructuring and increase of Textainer Limited's prior two-year, $75 million revolving credit facility.
"We are extremely pleased to have been able to increase both the size and the term of Textainer Limited's revolver," said John Maccarone,
the Company's President and Chief Executive Officer. "Given the challenging conditions in the credit markets today, we consider this new
credit agreement with both our existing and several new banks to be a clear indication of their confidence in our business model and operating philosophy."
Mr Maccarone added, "We would like to thank Bank of America and the other syndicate banks for their support."
Important Cautionary Information Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws. Forward-looking statements include
statements that are not statements of historical facts, and include, but are not limited to, statements concerning the initial interest
rate that is to apply at the closing and the expected use of proceeds from the borrowings under the credit agreement. Readers are cautioned
that these forward-looking statements involve risks and uncertainties, are only predictions and may differ materially from actual
future events or results.
The Company's views, estimates, plans and outlook as described within this document may change subsequent to the release of this press release.
The Company is under no obligation to modify or update any or all of the statements it has made in this press release despite any subsequent
changes that the Company may make in its views, estimates, plans or outlook for the future.
Contact: Textainer Group Holdings Limited
Mr Tom Gallo
Corporate Compliance Officer
415-658-8227
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries
23 April 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
DISTRIBUTION OF ANNUAL REPORTS, NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETINGS
10 April 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
DISTRIBUTION OF ANNUAL REPORTS, NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETINGS
|
The annual financial statements in respect of the year ended 31 December 2007
for Trencor and Mobile will be distributed on 14 April 2008 and there are no material changes from the reviewed results published on 22 February 2008.
The annual general meetings will be held on Monday, 19 May 2008, at 1313 Main Tower, Standard Bank Centre, Heerengracht, Cape Town, commencing at 15:00 to transact
the business as stated in the annual general meeting notices forming part of the annual financial statements.
On behalf of the boards
NI Jowell C Jowell |
Chairman Trencor Limited Chairmain Mobile Industries Limited |
Cape Town 10 April 2008 |
|
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER REPORTS REFRIGERATED CONTAINER (“REEFER”) MARKET UPDATE
3 April 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
TRENCOR’S TEXTAINER REPORTS REFRIGERATED CONTAINER (“REEFER”) MARKET UPDATE
|
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 62,6% beneficial interest:
“Hamilton, Bermuda – April 2, 2008. Textainer Group Holdings Limited (NYSE: TGH) (“Textainer” or the “Company”), the world’s largest lessor of intermodal containers based on fleet size,
today reported that 770 units out of the 800 reefer containers, initially purchased in January 2008, have been committed to leases with various shipping lines.
Textainer is pleased to announce that its first reefer container transaction has been completed with Mitsui O.S.K. Lines (MOL).
MOL is the world’s 11th largest container vessel operator and has committed to lease 300 40’ High Cube reefers.
As a result of this early success, Textainer has ordered an additional 1 000 40’ High Cube reefers for delivery in May and June of 2008.
The reefer machinery will be supplied by Carrier, Daiken and Thermo King.
“We have now placed 95% of our original order, and are very pleased at our customers’ support of our re-entry into the reefer market”,
commented John A. Maccarone, President and CEO of Textainer.
He continued, “Textainer expected a fairly modest capital expenditure (CAPEX) of $30 million for reefers in 2008.
Based on our initial success with the first units produced, and the recent new order, we may exceed that goal for the year.”
Important Cautionary Information Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws.
Forward-looking statements include statements that are not statements of historical facts, and include statements concerning the
Company’s desire and ability to increase the size of its owned container fleet. Readers are cautioned that these forward-looking statements involve risks and uncertainties,
are only predictions and may differ materially from actual future events or results.
The Company’s views, estimates, plans and outlook as described within this document may change subsequent to the release of this statement.
The Company is under no obligation to modify or update any or all of the statements it has made herein despite any subsequent changes the Company may make in its views,
estimates, plans or outlook for the future.
Contact: Textainer Group Holdings Limited
Mr Tom Gallo
Corporate Compliance Officer
415-658-8227
ir@textainer.com”
Cape Town
3 April 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
SALE OF TRENSTAR SOUTH AFRICA
2 April 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
|
|
SALE OF TRENSTAR SOUTH AFRICA
|
In the 22 February 2008 announcement of Trencor’s results for the year ended 31 December 2007, we reported that, in
the context of attaining greater focus on Trencor’s core marine container businesses, TrenStar Inc (58% owned by Trencor) and TrenStar SA (Pty) Ltd (100% owned by Trencor)
had been categorised as “held for sale”. On 4 March 2007 we announced the sale of the three operating subsidiaries of TrenStar Inc active in North America.
We are now pleased to announce that all of Trencor’s interests in TrenStar South Africa (i.e. TrenStar SA (Pty) Ltd) have been sold to a consortium comprising the management
of that company and Investec Bank Limited (“the sale”). The effective date of the sale is 31 December 2007. Trencor will receive R80 million, which includes repayment
of Trencor’s current shareholder loan account of R72 million.
As the sale constitutes a “small related party transaction” in terms of the JSE Listings Requirements, implementation thereof is subject to compliance with the JSE Listings
Requirements, which includes the JSE being furnished with written confirmation from an independent professional expert, that the terms of the sale are fair as far as the
shareholders of Trencor are concerned.
In Trencor’s said announcement of results to 31 December 2007, we advised that in view of the “held for sale” status of the assets and liabilities of the TrenStar
companies, they had in the said results been treated for accounting purposes as “discontinued operations”. Thus the effects of the above transaction do not impact the
results of Trencor’s continuing operations and headline earnings as published on 22 February 2008.
Trencor Services (Pty) Ltd
Secretaries
2 April 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TEXTAINER ANNUAL REPORT FOR 2007
31 March 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TEXTAINER ANNUAL REPORT FOR 2007
|
Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 62,6% interest,
has filed its Form 20-F (annual report for the year ended 31 December 2007) with the US SEC. The report can be accessed on its website http://investor.textainer.com/sec.cfm
and a PDF thereof can be accessed here.
Trencor Services (Pty) Ltd
Secretaries
31 March 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
SALE OF TRENSTAR, INC’S ASSET BASED BUSINESSES IN THE US
4 March 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
SALE OF TRENSTAR, INC’S ASSET BASED BUSINESSES IN THE US
|
In the 22 February 2008 announcement of Trencor’s year-end results for 2007, we reported that,
in the context of attaining greater focus on Trencor’s core marine container businesses, the assets and liabilities of TrenStar,
Inc (58% held by Trencor) had been categorised as “held for sale”.
We are pleased to announce that in line with this strategy, TrenStar, Inc has sold its three operating subsidiaries
active in North America in the leasing and management of kegs and other types of metal cages and bins used in the beer, synthetic rubber and food industries to a subsidiary of
Macquarie Group Limited. The provisional consideration payable for these businesses is US$72 million, US$5 million of which will be placed in escrow for certain periods pending
the outcome of warranties given in the sale. An additional payment of up to US$5 million may also be made to TrenStar, Inc subject to the sold entities achieving certain revenue
and EBITDA (earnings before interest, tax, depreciation and amortisation) targets during 2008 and 2009. TrenStar, Inc. was represented by Morgan Keegan and Latham & Watkins LLP in the sale.
The purchase consideration enabled repayment of all bank debt in the sold subsidiaries as well as at TrenStar, Inc (head office) level, leaving the TrenStar, Inc group free of bank debt and with net
cash of approximately US$15 million after providing for all costs associated with the sale (assuming the amounts in escrow and those subject to achieving the revenue and EBITDA targets are received).
In addition to this cash, and with the company having successfully exited its UK/European beer keg operations earlier during 2007, the remaining assets of TrenStar, Inc comprise its 33% interest in
Jettainer GmbH (the joint venture company with Lufthansa Cargo AG engaged in providing and managing air cargo containers, and based in Frankfurt, Germany) and its Track & Trace business. Plans for
these businesses remain under strategic review.
In Trencor’s said announcement of results to 31 December 2007, we advised that in view of the “held for sale” status of the assets and liabilities of the TrenStar companies, they had in the said results
been treated for accounting purposes as “discontinued operations”. Thus the effects of the above transaction do not impact the results of Trencor’s continuing operations and headline earnings as published
on 22 February 2008. However, the settlement of all bank debt in TrenStar, Inc reported above reduces the Trencor group consolidated gearing ratio of 92% (2006: 174%) as published to 85%.
Cape Town
4 March 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR DIVIDEND UP 40% AS TEXTAINER PROFITS GROW 23%
22 February 2008
A 23% increase in net profit by Textainer Group Holdings Ltd,
the New York Stock Exchange listed container leasing company in which Trencor Ltd has a 62,6% interest, helped Trencor
to boost adjusted headline earnings per share by 22,1% from 175,2 cents to 214,0 cents in the year to December.
Trencor declared a final dividend per share of 58 cents, making a total of 80 cents for 2007, an increase of 40% on the
57 cents per share distributed in respect of 2006. Trencor shares in issue increased in 2007 to 187,3 million after conversion
of debentures into ordinary shares on a one-for-one basis.
Trencor’s chairman, Neil Jowell, said Textainer, the world’s largest lessor of marine containers, reported an increase in net profit
to US$66,6 million from US$54,2 million after charging unrealised losses on interest rate swaps of US$8,3 million in 2007 (2006: US$600 000).
Textainer achieved average utilisation of the fleet under management for the year, calculated on a basis consistent with the past, of 91,5% (2006: 91,1%).
With effect from 1 January 2007, the basis of calculation was changed to conform to that used by most competitors; on this basis average utilisation for
the year was 93,9%.
Textainer recently re-entered the refrigerated container segment and plans capital expenditure of US$30 million in 2008 on this new product range.
It also acquired the management of the 500 000 TEU fleet of Capital Lease from 1 September and invested US$71,4 million in increasing the holding in its
asset-owning subsidiary, TMCL.
Jowell said 64,6% of the on-hire total fleet under Textainer management and 69,2% of its on-hire owned container fleet were on long-term lease.
He said the increase in Trencor’s trading profit after net financing costs from continuing operations was 17% - from US$82 million to US$96 million.
In rand terms this translated to a 23% increase to R675 million from R549 million in 2006. Trencor’s revenue for the year from owning, leasing, financing and
managing containers was R1,69 billion (R1,46 billion).
The adjusted headline earnings per share for the year included net gains and losses arising from the ongoing disposals of containers from Textainer’s leasing fleet.
Jowell said these 2007 earnings per share of 214 cents could be compared to adjusted diluted headline earnings per share in 2006 of 175,2 cents.
He said headline earnings per share of 212,9 cents included net unrealised foreign exchange gains and losses and two enhancements required in terms of International
Financial Reporting Standards (IFRS) to the earnings of TrenStar Inc, the 58%-owned mobile asset ownership and management business.
These were a 21,6 cents per share enhancement because of a requirement that TrenStar cease charging depreciation of about US$10 million on its UK beer keg fleet from 30 March 2007
(the date the company decided to exit this business), although it continued to earn revenue on these assets until the contracts were finally terminated later in 2007. There was a further
enhancement of 22,7 cents per share because of a requirement that TrenStar create a deferred tax asset of US$10,5 million. This may be realised in 2008 following a strategic review which
has resulted in the TrenStar companies being categorised as held for sale. Jowell said the review was conducted in the context of greater focus on Trencor’s core container businesses, mainly Textainer.
Top of Page
TEXTAINER RESULTS RELEASED
21 February 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TEXTAINER RESULTS RELEASED
|
Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 62,6% interest, has reported its results for the fourth quarter and the year
ended 31 December 2007. The results can be accessed on its website www.textainer.com and a PDF of its results can be accessed here.
Trencor Services (Pty) Ltd
Secretaries
21 February 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
RELEASE OF TEXTAINER RESULTS
15 February 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
RELEASE OF TEXTAINER RESULTS
|
We draw attention to the following news release issued by Textainer
Group Holdings Limited, in which Trencor has a 62,6% interest:
“Textainer Group Holdings Limited Announces Dates for Release of Fourth Quarter 2007 and Full Year Results and Quarterly Conference Call
Hamilton, Bermuda, February 14, 2008: Textainer Group Holdings Limited (NYSE:TGH) ("Textainer" or the "Company"), the world's largest
lessor of intermodal containers based on fleet size, today reported that it will announce results for the fourth quarter and the year
ended December 31, 2007 on February 21, 2008.
Investors' Webcast
Textainer will hold a conference call and a Webcast at 2:00 p.m. EST on Friday, February 22, 2008 to discuss Textainer's fiscal fourth
quarter and full year results. An archive of the Webcast will be available one hour after the live call through February 22, 2009.
The dial-in number for the conference call is 1-877-675-4757; outside the U.S. call 1-719-325-4930. To access the live Webcast or
archive, please visit the Company's website at http://www.textainer.com.”
Trencor Services (Pty) Ltd
Secretaries
15 February 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR’S TEXTAINER RE-ENTERS REFRIGERATED CONTAINER MARKET
7 January 2008
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TRENCOR’S TEXTAINER RE-ENTERS REFRIGERATED CONTAINER MARKET
|
We draw attention to the following news release issued by Textainer Group Holdings Limited,
in which Trencor has a 62,6% beneficiary interest:
“Hamilton, Bermuda, Textainer Group Holdings Limited (NYSE: TGH) (“Textainer” or the “Company”),
the world's largest lessor of intermodal containers based on fleet size, has reported that it has re-entered the refrigerated container
market segment. Textainer has ordered 800 40-foot High Cube reefers with Carrier and Daikin machinery for delivery in January 2008.
“We have analyzed the reefer market frequently since exiting this segment in the 1990's, but until now, decided not to buy new refrigerated containers,”
said John A. Maccarone, President and CEO of Textainer.
“Due to attractive prices for new reefer containers, and the anticipation that our customers may choose to lease a larger percentage of their total reefer
requirements, we feel this is the right time to re-enter the market. We feel that we can place at least $30 million worth of reefers into attractive long-term
leases in 2008, which would increase our capital expenditure by about 10% above our original budget. We already have sales/marketing and operations/technical
expertise in-house and reefers are leased by our existing customer base which is supported by our current sales team. Therefore, the incremental overhead costs
to Textainer are almost zero.” he added.
IMPORTANT CAUTIONARY INFORMATION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. securities laws. Forward-looking statements include statements that are not
statements of historical facts, and include statements concerning the Company's desire and ability to increase the size of its owned container fleet. Readers
are cautioned that these forward-looking statements involve risks and uncertainties, are only predictions and may differ materially from actual future events
or results.
The Company's views, estimates, plans and outlook as described within this document may change subsequent to the release of this statement. The Company is under
no obligation to modify or update any or all of the statements it has made herein despite any subsequent changes the Company may make in its views, estimates, plans
or outlook for the future.
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Corporate Compliance Officer
ir@textainer.com”
Cape Town
7 January 2008
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TEXTAINER INCREASES ITS INTEREST IN TEXTAINER MARINE CONTAINERS LIMITED
30 November 2007
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TEXTAINER INCREASES ITS INTEREST IN TEXTAINER MARINE CONTAINERS LIMITED
|
Textainer Group Holdings Limited (NYSE:TGH) (“Textainer”),
in which Trencor has a 62,6% beneficiary interest, reported on 29 November 2007 that it purchased additional shares in
Textainer Marine Containers Limited (“TMCL”) effective 1 November 2007. Textainer previously announced its intention to
complete this transaction upon consummation of its initial public offering in October 2007 and had assumed that the
transaction would be completed this year in connection with planning and forecasting operating results for 2008.
TMCL, a joint venture with FB Transportation Capital LLC (“FBTC”), is
engaged in the business of owning and leasing marine containers. Textainer purchased an additional 25% interest in TMCL from FBTC
for a price of US$71,4 million. As a result, it now owns 75% of TMCL and FBTC 25%. Prior to this purchase, each party owned 50%.
This transaction will reduce the amount of minority interest expense that Textainer reports each period by 50%. For the nine months
ended 30 September 2007 (unaudited), Textainer reported minority interest expense of US$14,0 million. If Textainer had purchased the additional
shares in TMCL on 1 January 2007 the minority interest expense for the nine months ended 30 September 2007 would have been US$7,0 million,
resulting in an increase in net income before income taxes of a similar amount.
The full announcement by Textainer can be accessed on its website: www.textainer.com
Cape Town
30 November 2007
Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
RELEASE OF TEXTAINER QUARTERLY RESULTS
19 November 2007
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
RELEASE OF TEXTAINER QUARTERLY RESULTS
|
Trencor’s 62,6% subsidiary, Textainer Group Holdings Limited (NYSE: TGH), has reported its results for the third quarter and the nine
months ended 30 September 2007. The results can be accessed on its website www.textainer.com.
Trencor Services (Pty) Ltd
Secretaries
19 November 2007
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TEXTAINER INITIAL PUBLIC OFFERING: TRENCOR'S RESULTANT INTEREST
19 November 2007
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TEXTAINER INITIAL PUBLIC OFFERING: TRENCOR'S RESULTANT INTEREST
|
On 10 October 2007 we announced that the initial public offering (“IPO”) by Textainer Group
Holdings Limited (“Textainer”), pursuant to which Trencor had a 62,6% beneficiary interest in Textainer, had been finalised, that
the shares commenced trading on the New York Stock Exchange under the symbol “TGH” and that the IPO underwriters had a 30-day
option to purchase additional shares.
We now advise that this option was not exercised and, accordingly, Trencor’s beneficiary
interest in Textainer remains unchanged at 62,6%.
Cape Town
19 November 2007
Invenstment bank and advisor: Investec Corporate Finance
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TEXTAINER FINALISES INITIAL PUBLIC OFFERING ON THE NYSE
10 October 2007
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
|
|
TEXTAINER FINALISES INITIAL PUBLIC OFFERING ON THE NYSE
|
-
Introduction
On 27 September 2007 we announced on SENS that Textainer Group Holdings Limited (“Textainer”),
in which Trencor has a 71,7% beneficiary interest, had filed a registration statement with the U.S. Securities and Exchange
Commission for a proposed initial public offering (“IPO”) and listing of its common shares on a US stock exchange.
We now draw attention to the news release by Textainer included in paragraph 2 below, announcing the number and
pricing of its shares offered in the IPO and the listing of its common shares on the New York Stock Exchange.
- Textainer news release
Hamilton, Bermuda, October 9, 2007 – Textainer Group Holdings Limited (NYSE: TGH)
announced today that its initial public offering of 9,000,000 common shares has been priced at $16.50 per common share.
The underwriters have a 30-day option to purchase up to 1,350,000 additional common shares to cover any over-allotments.
All of the common shares are being sold by Textainer Group Holdings Limited. The common shares will begin trading on
the New York Stock Exchange on Wednesday, October 10, 2007 under the symbol “TGH”.
Credit Suisse Securities (USA) LLC and Wachovia Securities are the joint book running managers for the offering
with Jefferies & Company, Inc., Piper Jaffray & Co. and Fortis Securities LLC acting as co-managers.
A registration statement relating to these securities was filed with and declared effective by the United States
Securities and Exchange Commission. The offering is being made solely by means of a prospectus. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these
securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities law of any such state or other jurisdiction.
Copies of the final prospectus relating to this offering, when available, may be obtained by contacting Credit
Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010, (800) 221-1037 or Wachovia
Securities, 375 Park Avenue, New York, NY 10152, (800) 326-5897.
For more information, contact:
| |
Mr Tom Gallo
415-658-8227
tjg@textainer.com |
About Textainer Group Holdings Limited:
Textainer has operated since 1979 and is the world’s largest lessor of intermodal containers based on fleet
size. We have a total of more than 1.3 million containers, representing over 2,000,000 TEU, in our owned
and managed fleet. We lease containers to more than 300 shipping lines and other lessees. We principally
lease dry freight containers, which are by far the most common of the three principal types of intermodal
containers. We have also been one of the largest purchasers of new containers among container lessors over
the last 12 years. We believe we are also one of the two largest sellers of used containers among container
lessors for the last five years. We provide our services worldwide via a network of 14 regional and area
offices and over 300 independent depots in more than 130 locations.
Resultant Trencor interest in Textainer
As part of the IPO, Halco Holdings Inc. (“Halco”), through which
Trencor has its beneficiary interest in Textainer, will acquire 2 100 000 shares at $16.50 per share,
i.e. a total new investment by Halco of $34.65 million, which will be funded from Halco’s existing cash resources.
Following the IPO of 9 000 000 common shares (which includes Halco’s subscription for the 2 100 000 shares),
Halco’s shareholding in Textainer will be 62.6%. If, in addition, the underwriters exercise in full their
over-allotment option on a further 1 350 000 shares, Halco’s shareholding in Textainer will be 60.8%.
Mobile/Trencor group structure
We draw attention to earlier communications in which we indicated
that following the implementation of value enhancement initiatives below the listed Trencor level,
the merits of further changes to the Mobile/Trencor listed group structure would be considered from
time to time as appropriate. In this regard, following the listing of Textainer we plan to give further
consideration to such possible changes.
Cape Town
10 October 2007
Investment bank and advisor: Investec Corporate Finance
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
FILING OF REGISTRATION STATEMENT FOR IPO BY TEXTAINER
27 September 2007
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code:
TRE
ISIN:
ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code:
MOB
ISIN:
ZAE000091435
("Mobile")
|
|
FILING OF REGISTRATION STATEMENT FOR IPO BY TEXTAINER
|
We previously reported that the listing of the shares of Textainer Group Holdings Limited, Trencor’s 71,7%
subsidiary, on an international stock exchange was under consideration. We now draw attention to the following news release
issued by Textainer:
“TEXTAINER GROUP HOLDINGS LIMITED ANNOUNCES THE FILING OF REGISTRATION STATEMENT FOR INITIAL PUBLIC OFFERING OF COMMON SHARES
Hamilton, Bermuda, September 26, 2007 – Textainer Group Holdings Limited announced today that it has filed a registration
statement, which is not yet effective, with the U.S. Securities and Exchange Commission for a proposed initial public offering of its
common shares. The proposed offering will also include common shares subject to issuance pursuant to an over-allotment option to be granted to the underwriters.
Credit Suisse Securities (USA) LLC and Wachovia Capital Markets, LLC will act as joint book running
managers for the proposed offering with Jefferies & Company, Inc., Piper Jaffray & Co. and Fortis Securities LLC acting as co-managers.
The offering will be made only by means of a prospectus. A copy of the preliminary prospectus
for the proposed offering may be obtained, when available, by writing or telephoning the prospectus department at Credit Suisse
Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010, (800) 221-1037 or Wachovia Securities,
375 Park Avenue, New York, NY 10152, (800) 326-5897.
A registration statement relating to these securities has been filed with the U.S.
Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to
buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification
under the securities laws of any such state or jurisdiction.
For more information, contact:
Mr. Tom Gallo
Compliance Officer
415-658-8227
tjg@textainer.com
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world’s largest lessor of intermodal
containers based on fleet size. We lease containers to more than 300 shipping lines and other lessees. We principally
lease dry freight containers, which are by far the most common of the three principal types of intermodal containers.
We have also been one of the largest purchasers of new containers among container lessors over the last 12 years.
We believe we are also one of the two largest sellers of used containers among container lessors for the last five years.”
A further announcement will be published in due course.
TRENCOR SERVICES (PTY) LTD
SECRETARIES
27 September 2007
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR LIFTS INTERIM DIVIDEND AFTER 55% SURGE IN TRADING PROFIT
23 August 2007
Trencor Ltd today reported trading profit after net finance costs from continuing operations
for the six months to 30 June surged by 55% to R350 million from R226 million at the halfway stage in 2006.
The group lifted its interim dividend to 22 cents per share from 20 cents in 2006.
Trencor, most of whose revenue, expenditure and assets are denominated in US dollars,
reported trading profit from continuing operations, after net finance costs, increased by 33% from US$36,7 million to US$48,9 million.
Chairman Neil Jowell said net profit of US$32 million, against a restated US$24,2 million in 2006,
was reported for the half-year by Textainer, the 72%-owned subsidiary which manages the world’s largest lessor-operated marine container fleet.
He said Trencor’s interim headline earnings were 102,1 SA cents per share after taking into account the
effect of foreign exchange translation gains and losses and conversion of Trencor debentures into ordinary shares on a one-for-one basis from 1 January 2007.
This could be compared with similarly diluted earnings per share for the 2006 period of 108,8 cents. The main reason for the lower headline earnings is that the
contribution from currency gains was only R20 million this time, compared to R153 million in the same period last year. Following the conversion of the debentures,
the weighted average number of Trencor shares in issue for the period increased to 187,1 million from 155,8 million.
Diluted adjusted headline earnings per share, including net gains and losses arising from the sale of containers from Textainer’s leasing fleet,
were 114,4 cents for the six months, against 117,1 cents in 2006.
Jowell said average utilisation of the Textainer fleet for the six months to June improved to 91,2%
from 89,8% in the 2006 period. Spot utilisation of the fleet at June 30 was 91,7%.
He said 62,7% of the 1,5 million TEU (20-foot equivalent units) under management at June 30 was on long-term lease
compared to 67,4% of the 1,2 million TEU in June 2006.
“Textainer expects to increase the total fleet under management to more than two million TEU from 1 September.
This follows the July announcement of its acquisition of the rights to manage the Capital Lease Ltd fleet of over 500 000 TEU.”
“A listing of Textainer’s shares on an international stock exchange is still under consideration.”
Jowell said that while TrenStar SA, the wholly-owned local subsidiary in supply chain and logistics services,
contributed satisfactorily to group earnings for the half-year, Trencor was continuing to review alternatives for the future of TrenStar Inc,
of which it owns 58%.
“TrenStar Inc continues to trade satisfactorily in the US, but the beer keg asset ownership and management business
in the UK and Europe has been discontinued. An orderly unwinding of contracts with the brewers is under way.”
TrenStar Inc contained losses from continuing operations to US$900 000 for the half-year, compared with US$2,6 million
at the interim stage in 2006.
Mobile Industries Ltd, which owns 46% of Trencor, declared an interim dividend of 1,75 cents per share (2006: 1,55 cents per share).
A PDF file of the 2007 interim reports can be viewed here.
Top of Page
TRENCOR’S TEXTAINER TO MANAGE CAPITAL LEASE’S CONTAINER FLEET
24 July 2007
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Reg No 1955/002869/06)
("Trencor")
Share Code:
TRE
ISIN:
ZAE000007506
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Reg No 1968/014997/06)
("Mobile")
Share Code:
MOB
ISIN:
ZAE000091435
|
|
TRENCOR’S TEXTAINER TO MANAGE CAPITAL LEASE’S CONTAINER FLEET
|
In a transaction that closed on 23 July 2007, CIF 3, an investment fund advised by
DVB Bank, acquired Capital Lease Limited, Hong Kong, the world’s 8th largest container leasing company,
and simultaneously sold the management rights to Capital Lease’s over 500 000 TEU (20-foot equivalent unit)
container fleet to Textainer, a company in which Trencor has a 72% interest.
Ian Karan, Chairman of Capital Lease, stated: “After an extensive bidding process,
involving other container lessors, banks, hedge funds and equity players, the fund advised by DVB Bank emerged as the winner.
A prime factor for this choice is the involvement of Textainer to manage the entire fleet. DVB Bank is a leading funding partner
for the container leasing market whilst Textainer is a leading manager of container portfolios. The business that we have worked
so hard to build is therefore, we believe, in safe hands.”
Dagfinn Lunde, Member of the Board of Managing Directors of DVB Bank AG and head of DVB’s
Shipping Division, commented: “I am delighted that the combined offer of Textainer and the fund advised by DVB was finally successful
in a bidding process which had attracted numerous bidders. We were able to successfully combine the high expertise of DVB in the field
of container box financing with the in-depth market know how of Textainer in managing large container fleets.”
Eric Snellen, head of DVB’s Container Business Unit, said: “Winning the competitive bidding process
to acquire Capital Lease proves that DVB has built up a competitive advantage in acquiring container portfolios for the funds advised
by it. The Capital Lease portfolio contains high quality well maintained containers leased to world class lessees. We are also pleased
to work with Textainer, as it is the largest and most experienced manager of container portfolios.”
John Maccarone, President and CEO of Textainer, noted that: “Capital Lease is one of the leaders
in our industry, with a high quality fleet of containers. We are extremely pleased and proud to be taking over the management of such
an excellent container fleet and will continue its tradition of first class service. In the past 20 years, we have either purchased,
or assumed management of the container fleets of seven other lessors, now including Capital Lease. We strongly believe that more leasing
industry consolidation is justified, and are actively seeking other opportunities.”
Mr Maccarone added: “Our strategy is to be the most reliable supplier to our shipping line customers
of containers in high demand locations. We do this not only by having the largest lessor-operated container fleet in the world, over 2 million TEU,
but also by purchasing an average of over 90 000 TEU of new containers each year, and by aggressively repositioning off-lease containers.
Increasing our fleet by 33% with the acquisition of the Capital Lease fleet will help ensure that we have the containers our customers
want in the locations they want them.”
Mr Neil Jowell, Chairman of Trencor, stated: “We are delighted that Textainer secured the management rights
for the Capital Lease fleet. The consideration paid by Textainer is a sound investment that meets our investment criteria. Although its impact on
earnings in the first year will be modest, we look forward to a satisfactory contribution over future years.”
24 July 2007
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Notes:
Trencor is a holding company listed on the JSE Limited. The group’s core business focus worldwide is:
• owning, leasing and managing marine cargo containers (Textainer); • owning and leasing returnable packaging units
together with the related management and technology (TrenStar); and • finance related activities. www.trencor.net
Mobile is an investment holding company listed on the JSE Limited. It’s main investment is a holding of 46%
in Trencor. www.mobile-industries.net
Textainer is a 28 year old organisation and is the largest lessor of marine containers and one of the two
largest sellers of second hand containers in the world. With offices and depots in more than 150 locations around the globe, Textainer serves more than
300 leasing customers, which include virtually all of the world’s leading international shipping lines, and over 700 container sales customers. www.textainer.com
DVB Bank AG, based in Frankfurt/Main, is an international advisory bank and finance house that specializes in the global
transport market. DVB offers integrated financing solutions and advisory services in respect of Shipping, Aviation, and Land Transport. The Bank operates out of
offices in Frankfurt/Main, Hamburg, London, New York, Rotterdam, Hong Kong, Singapore, Tokyo, Bergen/Oslo, Piraeus and Curaçao. DVB Bank AG is listed on the Frankfurt
Stock Exchange (ISIN: DE0008045501). www.dvbbank.com
Capital Lease is an industry leader in the leasing of marine containers. Founded in November 1996, it has grown to over
500 000 TEU and operates a fleet of top quality containers with an average age of 4,8 years. Employing 71 people globally, Capital Lease has offices in Amsterdam, Hamburg,
Hong Kong, Miami and Shanghai, supported by agents in major international shipping and trading centres. www.capital-lease.com
Top of Page
REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETINGS
23 May 2007
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Reg No 1955/002869/06)
Share Code:
TRE
ISIN:
ZAE000007506
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Reg No 1968/014997/06)
Share Code:
MOB
ISIN:
ZAE000091435
("Mobile")
|
|
REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETINGS
|
At the annual general meetings of Trencor and Mobile held on
23 May 2007, the requisite majority of
shareholders approved all the ordinary and special resolutions as set out in the notices and proposed at the meetings.
The special resolutions will now be lodged with the Registrar of
Companies for registration.
TRENCOR SERVICES (PTY) LTD
SECRETARIES
23 May 2007
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
AUTOMATIC CONVERSION OF TRENCOR AND MOBILE CONVERTIBLE DEBENTURES INTO ORDINARY SHARES
10 April 2007
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration no 1955/002869/06)
SHARE CODE:
ISIN:
TED2
ZAE000007282
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration no 1968/014997/06)
SHARE CODE:
ISIN:
MOBD
ZAE000004610
("Mobile")
|
|
AUTOMATIC CONVERSION OF TRENCOR AND MOBILE CONVERTIBLE DEBENTURES INTO ORDINARY SHARES
|
Trencor and/or Mobile debenture holders (“debenture holders”) are referred
to the reviewed results for the year ended 31 December 2006 announced on SENS on 22 February 2007 informing them,
inter alia, of the automatic conversion of the Trencor and Mobile debentures (“debentures”).
The debenture Trust Deeds governing the debentures provide for an automatic and compulsory conversion of the
debentures into ordinary shares on the last Friday of the fifth month following the financial year in respect
of which the total dividend declared in cents per share is equal to or exceeds a specified level, namely 54,6 cents
in respect of Trencor and 4,5 cents in respect of Mobile.
In view of the fact that the total dividends declared in respect of the year ended 31 December 2006 exceeded these
specified levels, each Trencor debenture will be converted into one Trencor ordinary share and each Mobile debenture
into three Mobile ordinary shares with effect from the close of business on Friday, 25 May 2007.
A circular to debenture holders (which can be accessed
here) has been posted today providing details of the automatic
conversion and incorporating a form of surrender for use by certificated debenture holders.
The salient dates regarding the automatic conversion are as follows:
| |
2007 |
| Circular posted to debenture holders on |
Tuesday, 10 April |
| Last date to trade in the debentures on |
Friday,
18 May |
| Suspension of the debentures on the JSE trading system at commencement of trade on |
Monday,
21 May |
| Debenture holders may trade their ordinary share entitlements from commencement of trade on |
Monday,
21 May |
| Record date for the automatic conversion of debentures into ordinary shares on |
Friday,
25 May |
| Dematerialised debenture holders will have their CSDP or broker accounts updated on |
Monday, 28 May |
| Termination of the listing of the debentures at commencement of trade on |
Monday, 28 May |
| Certificated debenture holders who have surrendered their documents of title by 12:00 on Friday, 25 May 2007 will have their converted ordinary share certificates posted to them on or about |
Monday,
28 May |
| Certificated debenture holders who have surrendered their documents of title after 12:00 on Friday, 25 May 2007 will have their converted ordinary share certificates posted to them within 5 business days of receipt thereof |
|
Notes:
- The above dates and times may be subject to amendment. Any such amendment will be released on SENS and published in the press.
- Debenture certificates may not be dematerialised or rematerialised after Friday, 18 May 2007.
ON BEHALF OF THE BOARDS
NI JOWELL CHAIRMAN TRENCOR LIMITED C JOWELL CHAIRMAN MOBILE INDUSTRIES LIMITED Cape Town
10 April 2007
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
DISTRIBUTION OF ANNUAL REPORTS, NOTICE OF ANNUAL GENERAL MEETINGS AND MODIFICATIONS TO REVIEWED RESULTS
5 April 2007
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration no 1955/002869/06)
SHARE CODE:
ISIN:
TRE
ZAE000007506
TED2
ZAE000007282
("Trencor")
|
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration no 1968/014997/06)
SHARE CODE:
ISIN:
MOB
ZAE000091435
MOBD
ZAE000004610
("Mobile")
|
|
DISTRIBUTION OF ANNUAL REPORTS, NOTICE OF ANNUAL GENERAL
MEETINGS AND MODIFICATIONS TO REVIEWED RESULTS
|
DISTRIBUTION OF ANNUAL REPORTS
The annual financial statements in respect of the year ended
31 December 2006 will be distributed to holders of securities of Trencor and Mobile on or about 12 April 2007.
NOTICE OF ANNUAL GENERAL MEETINGS
The annual general meetings of Trencor and Mobile shareholders will be held on
Wednesday, 23 May 2007, at 1313 Main Tower, Standard Bank Centre, Heerengracht, Cape Town,
commencing at 15:00 to transact the business as stated in the annual general meeting notices
forming part of the annual financial statements.
MODIFICATIONS TO REVIEWED RESULTS
Subsequent to the publication of the reviewed results in respect of the
year ended 31 December 2006 released on SENS on 22 February 2007 (“the reviewed results announcement”),
the following modifications have been made:
Contractual disputes between certain UK subsidiaries of 58% owned TrenStar Inc and two of the subsidiaries’
larger UK brewer customers regarding responsibility for replacing beer kegs lost due to theft, coupled with
declined draught beer sales by these customers, made the underlying contracts uneconomic. After the year-end and
in order to facilitate a solution, the special purpose TrenStar subsidiary that contracted with one of
these customers was placed into administration and the contract was terminated, triggering the customer’s
right to purchase the kegs.
Depending upon the value placed on the keg fleet, it is probable that the TrenStar subsidiary concerned will
forfeit approximately UK£4,5 million of the UK£8,5 million currently held in restricted security deposit accounts
by the bank that financed the purchase of the kegs.
As a consequence, the keg fleet has been impaired by UK£4,5 million (R61,5 million) of which UK£2,6 million (R35,7 million)
is attributable to Trencor. Furthermore, goodwill attributable to Trencor’s interest in TrenStar Inc amounting to R33,9 million
has also been impaired.
Accordingly, while Trencor’s headline earnings per share and adjusted headline earnings per share for 2006 remain unchanged,
basic earnings per share from continuing operations in the annual report will decrease from those published in the reviewed
results announcement as follows:
| |
Annual
|
Reviewed |
| |
Report |
Results |
| |
R million |
R million |
| Basic earnings attributable to equity holders of the company |
319,4 |
389,0 |
| Minority interest |
175,4 |
201,2 |
| Basic earnings per share continuing operations (cents) |
202,2 |
246,7 |
| Diluted earnings per share (cents) |
176,6 |
212,3 |
| The effects of the above matters on certain balance sheet items are as follows: |
|
|
| Intangible assets and goodwill |
136,2 |
170,1 |
| Property, plant and equipment |
7 981,5 |
8 043,0 |
| Equity attributable to equity holders of the company |
2 357,8 |
2 427,4 |
| Minority interest |
1 078,8 |
1 104,6 |
| Effect on Mobile: |
|
|
| |
Annual |
Reviewed |
| |
Report |
Results |
| |
R million |
R million |
| Basic earnings attributable to equity holders of the company |
252,8 |
284,8 |
| Basic earnings per share (cents) |
28,2 |
31,7 |
| Diluted earnings per share (cents) |
24,2 |
27,2 |
| Effects on certain balance sheet items: |
|
|
| Investment in associate |
1 085,9 |
1 117,9 |
| Equity attributable to equity holders of the company |
1 354,6 |
1 386,6 |
ON BEHALF OF THE BOARDS
NI JOWELL CHAIRMAN TRENCOR LIMITED
C JOWELL CHAIRMAN MOBILE INDUSTRIES LIMITED
Cape Town
5 April 2007
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Top of Page
SHARE CAPITAL RESTRUCTURING - REMINDER OF SALIENT DATES
23 Februay 2007
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/014997/06) |
Share code:
MOB
MBN
MOBD
|
ISIN:
ZAE000004602
ZAE000012274
ZAE000004610
|
| ("Mobile") |
 |
SHARE CAPITAL RESTRUCTURING - REMINDER OF SALIENT DATES
|
 |
Security holders are referred to the announcement of 20 February 2007, informing them that all
the resolutions proposed at the general meeting of shareholders, the separate general meeting
of ordinary shareholders, the separate general meeting of ‘N’ ordinary shareholders and the general
meeting of convertible debenture holders held on 19 February 2007 were passed by the requisite
majority of security holders and that the special resolutions have been lodged with the Registrar
of Companies for registration.
Security holders are advised that the special resolutions have now been registered and, accordingly,
all conditions precedent to the share capital restructuring have been fulfilled.
Security holders are reminded of the salient dates in respect of the share capital restructuring as set out below:
| Last date to trade
|
Friday, 2 March |
| Trading in new ordinary shares with a par value of
0,005 cent per share under the new ISIN ZAE000091435 commences
|
Monday, 5 March |
| Suspension of the listing of the 'N' ordinary shares on the JSE
|
Monday, 5 March |
| Record date
|
Friday, 9 March |
| Issue of new ordinary shares from the commencement of trade
|
Monday, 12 March |
|
Termination of the listing of the 'N' ordinary shares at the
commencement of trade |
Monday, 12 March |
|
Holders of dematerialised ordinary shares will have their accounts at their CSDP or broker credited with the
capital repayment and their accounts updated with the new ordinary shares
|
Monday, 12 March |
|
Holders of dematerialised 'N' ordinary shares will have their accounts at their CSDP or broker updated with the
new ordinary shares |
Monday, 12 March |
|
Posting of replacement new ordinary share certificates to
holders of certificated ordinary and/or 'N' ordinary shares (see
note 1) on or about |
Monday, 12 March |
|
Posting of cheques to holders of certificated ordinary shares on
or about |
Monday, 12 March |
Notes:
- Replacement new ordinary share certificates will be issued on or about Monday, 12 March 2007,
for forms of surrender together with documents of title received by the close of business on Friday, 9 March 2007,
and thereafter within five business days of receipt of such forms of surrender, together with documents of title.
- Share certificates in respect of existing ordinary shares and ‘N’ ordinary shares may not be dematerialised
or rematerialised after Friday, 2 March 2007.
Cape Town
23 February 2007
Financial adviser
NM Rothschild & Sons (South Africa) (Proprietary) Limited
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
TRENCOR LIFTS DIVIDEND BY 42,5%; MAY LIST TEXTAINER
22 February 2007
Trencor Ltd has rewarded shareholders with a 42,5% increase in annual dividends. A final dividend of 37 cents per
share, making a total of 57 cents per share for 2006, was declared today. This is 17 cents more than the 2005
distribution of 40 cents per share.
The increased dividend followed the board’s adoption last year of a policy guideline for annual dividends to be
covered about three times by sustainable adjusted headline earnings, excluding the effect of unrealised foreign exchange
translation gains and losses.
The increased dividend also triggered conversion from 25 May of each Trencor convertible debenture into one Trencor
ordinary share and of each debenture in Mobile Industries Ltd, which owns 46% of Trencor, into three Mobile ordinary shares.
The total Mobile dividend for 2006 was 4,55 cents per share.
The conversions became automatic when total annual dividends topped 54,6 cents for Trencor and 4,5 cents for Mobile.
Announcing 2006 results today, Trencor’s chairman, Neil Jowell, said the reduction of investor entry points into the
Mobile/Trencor group from five to two – one class of ordinary shares in each of the companies – simplifies the group
structure and should enhance liquidity in Mobile and Trencor shares.
Jowell said investigations into value enhancement initiatives at the operational level indicated that an appropriate
opportunity may be the listing of Textainer, its 72%-owned marine container manager, on an international stock exchange.
This is being explored further, he said.
Jowell said Textainer which manages the world’s largest lessor-operated container fleet of more than 1,5 million TEU of
containers, reported net profit of US$54,1 million, against US$59,6 million in 2005.
Textainer was the main contributor to Trencor headline earnings per share, including net unrealised foreign exchange
gains and losses, of 232,8 cents, against 255,4 cents in 2005. In US dollar terms, headline earnings were 27,7 US
cents per share (2005: 32,1 US cents).
Trencor’s adjusted headline earnings per share were 253,5 cents (2005: 274,5 cents) which, consistent with prior years,
include gains and losses arising on the disposal of containers from Textainer’s leasing fleet. In US dollar terms,
adjusted headline earnings were 30,8 US cents per share (2005: 35,1 US cents).
Trading profit after net interest expense was R493 million (2005: R499 million). Net realised and unrealised exchange
gains arising on translation of net dollar receivables and the related provisions were R135 million (2005: R187 million).
Jowell said the average utilisation of the Textainer container fleet under management for the year was 91,1% (2005: 91,9%).
Currently, utilisation was 91,6%.
Textainer bought the right to manage the Gateway fleet with effect from July 2006, increasing the fleet under management
by 317 000 twenty-foot equivalent units (TEUs). It bought 94 400 TEUs during the year.
Jowell said TrenStar SA, the wholly-owned local subsidiary in supply chain and logistics services, increased 2006
revenue to R72 million from R57 million. Profit before interest and tax improved to R9,8 million from R3,5 million.
He said strategic alternatives for the US-based TrenStar Inc, 58% owned by Trencor, continued to be considered.
It reported 2006 revenue of US$65,6 million, against US$56,0 million in 2005, and a net loss, including substantial
restructuring costs, of US$11,2 million (2005: loss US$9,9 million).
He said certain TrenStar operations in the US continued to show promise, but developments in the UK affected performance.
“In the UK, higher beer keg losses due to theft, coupled with declining draught beer sales, on which TrenStar’s revenue is
based, at two of TrenStar’s larger UK brewer customers, have made the contracts between these customers and the TrenStar
subsidiaries involved uneconomic.”
“Contractual disputes with these customers regarding responsibility for replacing kegs in this environment of increased
keg losses have exacerbated the position. TrenStar is discussing the best way forward with the customers and financiers
concerned.”
“To facilitate a solution, the special purpose company that contracted with one of these customers has been placed into
administration and it is unlikely that the contract will be continued. It is also possible that the contract with the other
customer may be discontinued.”
“These developments hampered efforts to raise significant new equity to de-gear TrenStar’s balance sheet and improve
profitability.”
Top of Page
RESULTS OF GENERAL MEETINGS
20 February 2007
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/014997/06) |
SHARE CODE: MOB
SHARE CODE: MBN
SHARE CODE: MOBD
|
ISIN: ZAE000004602
ISIN: ZAE000012274
ISIN: ZAE000004610
|
| ("Mobile") |
 |
RESULTS OF GENERAL MEETINGS
|
 |
Security holders are advised that at the general meeting of shareholders, the separate general meeting of ordinary
shareholders, the separate general meeting of ‘N’ ordinary shareholders and the general meeting of convertible debenture
holders held on Monday, 19 February 2007, all the resolutions proposed in the notices to Mobile security holders,
dated 19 January 2007, were passed by the requisite majority of security holders. The special resolutions have been
lodged with the Registrar of Companies for registration.
Cape Town
20 February 2007
Financial adviser
ROTHSCHILD
Attorneys
Edward Nathan Sonnenbergs
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
SHARE CAPITAL RESTRUCTURING SALIENT DATES AND TIMES
22 January 2007
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/014997/06) |
SHARE CODE: MOB
SHARE CODE: MBN
SHARE CODE: MOBD
|
ISIN: ZAE000004602
ISIN: ZAE000012274
ISIN: ZAE000004610
|
| ("Mobile" or "the
Company") |
 |
SHARE CAPITAL RESTRUCTURING SALIENT DATES AND TIMES
|
 |
1. INTRODUCTION
Security holders are referred to the joint Mobile and Trencor Limited announcement of 23 August 2006, informing them,
inter alia, of the Mobile Board’s proposal to simplify the Company’s capital structure by consolidating its two classes
of equity shares into a single class. Given that historically the “N” ordinary shares have traded at a share price
closely approximating the share price of the ordinary shares, it is proposed that this be implemented by decreasing the
par value of the ordinary shares to that of the “N” ordinary shares and then renaming the “N” ordinary shares to ordinary
shares (the “share capital restructuring”). In addition, the current terms of the convertible debentures provide for
their conversion into one ordinary share and two “N” ordinary shares. It will therefore be necessary to amend the terms
of the convertible debentures to provide for their conversion into three ordinary shares instead.
The proposed share capital restructuring and the amendment to the conversion terms of the convertible debentures will
be implemented as follows:
- The par value of the issued ordinary shares will be reduced from 0,5 cent per share to 0,005 cent per share and an
amount of 0,495 cent per share will be paid in cash as a return of capital (“the capital repayment”), in terms of
section 90 of the Companies Act, No. 61 of 1973, as amended, to the holders of ordinary shares. Subject to shareholders’
approval, where the amount to be paid to an ordinary shareholder is R20,00 or less, such amount may, at the discretion of
the Board, not be paid but donated to a charity.
- The authorised but unissued ordinary shares will be sub-divided on a hundred-for-one basis into shares of 0,005
cent per share each.
- All the “N” ordinary shares, issued and unissued, will be renamed ordinary shares and the memorandum and articles
of association of the Company will be amended by removing the references to the “N” ordinary shares.
- The terms of the debenture trust deed will be amended to adjust the conversion terms from the current one ordinary
share and two “N” ordinary shares to be three ordinary shares instead.
The share capital restructuring has no effect on earnings and headline earnings per share and the effect on net asset
value and net tangible asset value per share is less than 1% and is thus immaterial.
2. RATIONALE
Current stock market practice is to avoid the creation of shares with different voting rights. Furthermore, the different
classes of shares provide multiple investment entry points into Mobile. Accordingly, the Board is proposing resolutions
that will align shareholders’ voting interests with their economic interests and reduce the number of investment entry
points into Mobile. 3. SALIENT DATES AND TIMES
|
The salient dates and times in respect of the share capital restructuring are set out below: |
2007 |
| Circular posted ... |
Monday, 22 January |
| Last day for receipt of forms of proxy for the general meetings of
security holders by 15:00 ... |
Friday, 16 February |
| General meetings of security holders to commence at: |
|
|
– 15:00 for the general meeting of shareholders (“meeting 1”); – 15:15 or as soon
as meeting 1 is concluded, for the separate general meeting of ordinary shareholders (“meeting 2”); – 15:30 or
as soon as meeting 2 is concluded, for the separate general meeting of “N” ordinary shareholders (“meeting 3”); and
– 15:45 or as soon as meeting 3 is concluded, for the general meeting of convertible debenture holders ... |
Monday, 19 February |
| Results of the general meetings released on the Securities Exchange News Service
(“SENS”) of the JSE Limited (“JSE”) ... |
Tuesday, 20 February |
| Results of the general meetings published in the press
... |
Wednesday, 21 February |
| Last date to trade
... |
Friday, 2 March |
| Trading in new ordinary shares with a par value of
0,005 cent per share under the new ISIN ZAE000091435 commences
... |
Monday, 5 March |
| Suspension of the listing of the “N” ordinary shares on the JSE
... |
Monday, 5 March |
| Record date
... |
Friday, 9 March |
| Issue of new ordinary shares from the commencement of trade
... |
Monday, 12 March |
|
Termination of the listing of the “N” ordinary shares at the
commencement of trade ... |
Monday, 12 March |
|
Holders of dematerialised ordinary shares will have their accounts at their CSDP or broker credited with the
capital repayment and their accounts updated with the new ordinary shares
... |
Monday, 12 March |
|
Holders of dematerialised “N” ordinary shares will have their accounts at their CSDP or broker updated with the
new ordinary shares ... |
Monday, 12 March |
|
Posting of replacement new ordinary share certificates to
holders of certificated ordinary and/or “N” ordinary shares (see
note 2) on or about ... |
Monday, 12 March |
|
Posting of cheques to holders of certificated ordinary shares on
or about ... |
Monday, 12 March |
Notes:
- The dates and times may be subject to amendment. Any such amendment will be released on SENS and published in
the press.
- Replacement new ordinary share certificates will be issued on or about Monday, 12 March 2007, for forms of surrender
together with documents of title received by the close of business on Friday, 9 March 2007, and thereafter within five
business days of receipt of such forms of surrender, together with documents of title.
- Share certificates in respect of existing ordinary shares and “N” ordinary shares may not be dematerialised or
rematerialised after Friday, 2 March 2007.
4. CIRCULAR TO SECURITY HOLDERS
A circular to security holders, containing full details of the share capital restructuring and incorporating notices of
general meetings to approve the share capital restructuring and consequential amendments to the debenture trust deed,
will be posted today. (The circular can be accessed
here) Cape Town
22 January 2007
Financial adviser
NM Rothschild & Sons (South Africa) (Proprietary) Limited
Attorneys
Edward Nathan Sonnenbergs Inc
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Top of Page
6% CONVERTIBLE DEBENTURES INTEREST PAYMENT No. 30
23 November 2006
TRENCOR LIMITED
(Reg No 1955/002869/06)
("Trencor")
SHARE CODE: TED2
ISIN: ZAE000007282
|
MOBILE INDUSTRIES
| |