TeleMasters Holdings Limited provided earnings guidance for the year ended June 30, 2021. For the year, the company expected to report a loss per share and a headline loss per share that reflect a decrease of at least 350% compared to the earnings per share of 2.59 cps and the headline earnings per share of 2.49 cps reported for the year ended June 30, 2020. The decrease is attributable to: once-off provision for the failure to collect revenues arising from a breach of contract by one customer in relation to one specific contract concluded with Catalytic Connections (Pty) Limited, a wholly-owned Company subsidiary. Catalytic Connections has initiated legal proceedings in the North Gauteng High Court (Pretoria) to collect said revenues which proceedings comprise of an application to liquidate the customer and concurrently realise a personal suretyship signed by the CEO of the customer. While the outcome and timing of the outcome of such legal proceedings remain uncertain, Catalytic Connections would not have launched such legal proceedings without being confident of its position and ability to collect some or all of such revenues in due course; following its acquisition of the remaining 75% shareholding in Conexlink (Pty) Limited, the Company's continued investment in the infrastructure and operations of its wholly- owned Ultra DC data centre subsidiary resulting in higher depreciation; and a reduction in revenues earned from lower variable usage services incurred by some customers arising as a result of the various lockdown regulations imposed by the Government of South Africa in response to the COVID-19 pandemic.