Assore Limited advised that for the six months ended 31 December 2019 market conditions for its manganese and chrome products were weaker than for the six months ended 31 December 2018. The effect of these market conditions was compounded by lower sales volumes of iron ore. These weaker conditions were partially offset by higher iron ore prices and an average Rand/USD exchange rate which was 4% weaker than in first half fiscal year 2019. As a result, headline earnings for first half fiscal year 2020 are anticipated to decrease to between ZAR 2,020 million (decrease of 31%) and ZAR 2,160 million (decrease of 26%) compared to ZAR 2,917 million recorded in first half fiscal year 2019. Similarly, attributable earnings are anticipated to decrease to between ZAR 2,000 million (decrease of 31%) and ZAR 2,130 million (decrease of 27%) compared to ZAR 2,916 million in first half fiscal year 2019. Thus, headline earnings per share for first half fiscal year 2020 are anticipated to be between ZAR 19.58 (decrease of 31%) and ZAR 20.94 (decrease of 26%) compared to ZAR 28.28 in first half fiscal year 2019 and attributable earnings per share are anticipated to be between ZAR 19.39 (decrease of 31%) and ZAR 20.65 (decrease of 27%) compared to ZAR 28.27 in first half fiscal year 2019. Earnings per share calculations are based on a weighted average number of 103,15 million (first half fiscal year 2019: 103,15 million) shares in issue.