Johannesburg - Alexander Forbes Group, a provider of financial and risk services, said on Tuesday that its recently completed capital restructuring and disposal of Guardrisk would impact significantly on its full-year results, with headline earnings per share now seen to rise by up to 170 percent while earnings per share could see a fall of as much as 80 percent.
On March 31, the company completed a capital restructure aimed at redeeming all outstanding debt and preference shares, replacing them with ordinary shares. A single unsecured term loan was introduced.
Alexander Forbes said its results were significantly affected by the disposal of the Guardrisk group of companies.
“As a result of the capital restructure, the profits attributable to the Guardrisk disposal, the expenses related to the exit transaction by the company’s previous controlling shareholders and the listing of the group in the current financial year, the comparability of the two financial years is substantially impacted,” it said in a statement.
ANA