Wrap Text
Salient features of the unaudited results
for the six months ended 30 June 2020
SABVEST CAPITAL LIMITED
Incorporated in the Republic of South Africa
Registration number 2020/030059/06
“Sabcap” or “the group” or “the company”
ISIN: ZAE000283511 JSE share code: SBP
SALIENT FEATURES OF THE UNAUDITED RESULTS
for the six months ended 30 June 2020
PROFILE
Sabvest Capital Limited (“Sabcap”) is an investment group which
was listed on the JSE in May 2020 as part of a restructuring in
which it acquired 100% of the ordinary and N ordinary shares of
Sabvest Limited (“Sabvest”), which had been listed on the JSE
since 1988, in exchange for a single class of Sabcap shares. There
are 41,5m Sabcap shares in issue. The Seabrooke Family Trust
(“SFT”) retains control of Sabcap through an unlisted Z share.
Sabcap has interests in ten unlisted investments, five listed
investments and an offshore cash portfolio, all accounted for on a
fair value basis. It also makes finance advances, holds general
debt, share and cash portfolios and undertakes other fee, finance
and profit earning activities from time to time.
RESULTS
% %
increase/ increase/
(decrease) (decrease)
30 June 30 June Restated*1
2020 2020 Unaudited Unaudited
compared compared 6 months 6 months
to to to to
31 December 30 June 30 June 30 June
2019 2019 2020 2019
Net asset value
per share – cents (0,4) 13,4 6 624 5 837
Shareholders’
funds – R’m (0,4) 11,3 2 749,6 2 469,7
Gross assets – R’m (0,9) 7,4 3 195,8 2 975,7
Interest-bearing
debt net of
cash – R’m (12,5) 37,6 274,3 199,4
Dividends per
share – cents * 36
Headline (loss)/
earnings per
share – cents (411,9) (387,4) 124,2
(Loss)/earnings
per share – cents (411,9) (387,5) 124,2
(Loss)/profit after
taxation – R’m (366,9) (150,0) 56,2
Total comprehensive
income – R’m (64,2) 13,8 38,6
RESULTS (continued)
Restated*1
Unaudited
12 months
to
31 December
2019
Net asset value per share – cents 6 648
Shareholders’ funds – R’m 2 759,4
Gross assets – R’m 3 224,2
Interest-bearing debt net of cash – R’m 313,6
Dividends per share – cents 75
Headline (loss)/earnings per share – cents 920,0
(Loss)/earnings per share – cents 920,0
(Loss)/profit after taxation – R’m 277,8
Total comprehensive income – R’m 361,3
* The Board will consider an interim dividend in December and no
dividend is declared at the present time.
*1 The comparative information discloses the continuing operations
of Sabvest as a reverse acquisition in line with IFRS 3.
INVESTMENT HOLDINGS PER SECTOR
Number of Economic Fair
Listed/ ordinary interest value
unlisted shares/units % R’000
INDUSTRIAL
AND SERVICES
DNI-4PL Contracts
(Pty) Ltd U 19,6 598 030
ITL Holdings Group U 30,0 631 104
Metrofile Holdings
Limited L 50 147 662 11,1 112 832
SA Bias Industries
(Pty) Ltd U 59,9 771 400
2 113 366
INDUSTRIAL – FOOD AND
RELATED PRODUCTS
Classic Food Brands
(Pty) Ltd U 25,0 20 800
Flexo Line Products
(Pty) Ltd U 47,5 65 206
Sunspray Food
Ingredients
(Pty) Ltd U 27,6 67 382
153 388
INFORMATION
TECHNOLOGY
Corero Network
Security Plc L 36 250 000 7,3 61 201
61 201
MINING, CHEMICALS
AND AGRICULTURE
Masimong Group
Holdings (Pty) Ltd U 10,0 148 600
Rolfes Holdings
(Pty) Ltd U 34,4 166 005
314 605
SPECIALISED FINANCIAL
Apex Partners Holdings
(Pty) Ltd U 49,75 104 240
Transaction Capital
Limited L 10 000 000 1,6 186 000
290 240
NON-CURRENT
INVESTMENT HOLDINGS 2 932 800
CURRENT INVESTMENTS
Brait S.E.
Convertible Bond L 30 000 – 50 392
Net1 UEPS
Technologies Inc L 300 000 – 17 985
Revix Group U 31,0 –
68 377
TOTAL HOLDINGS 3 001 177
Sandton
9 September 2020
The above announcement is a summary of information in the full
announcement and does not contain full or complete details and is
the responsibility of the directors. Any investment decisions by
investors and/or shareholders should be based on the full
announcement which is available on
https://senspdf.jse.co.za/documents/2020/JSE/ISSE/SBPE/INTRs20.pdf
and published on the Company’s website on
https://www.sabvestcapital.com/files/2020/Interim-results-20.pdf
on 9 September 2020. The full announcement is also available at
Sabvest’s registered office and the offices of the sponsor at no
charge, between 8:30 and 17:00, Monday to Friday.
SABVEST CAPITAL LIMITED
REGISTERED ADDRESS:
4 Commerce Square, 39 Rivonia Road, Sandhurst, Sandton 2196
COMMUNICATIONS:
Postal address:
PO Box 78677, Sandton 2146, Republic of South Africa
Telephone: (011) 268 2400
Fax: (011) 268 2422
e-mail: ho@sabvest.com
TRANSFER SECRETARIES:
Computershare Investor Services (Pty) Ltd, Rosebank Towers,
15 Biermann Avenue, Rosebank 2196 (PO Box 61051, Marshalltown
2107)
DIRECTORS:
DNM Mokhobo # (Chairperson), BJT Shongwe # (Deputy Chairperson and
Lead Independent Director), CS Seabrooke * (Chief Executive),
L Mthimunye #, K Pillay ^#, R Pleaner *, L Rood *
*Executive #Independent ^Appointed 1 January 2020
SPONSOR:
Rand Merchant Bank (A division of FirstRand Bank Limited),
1 Merchant Place, Corner of Fredman Drive and Rivonia Road,
Sandton 2196
COMPANY SECRETARY:
Levitt Kirson Business Services (Pty) Ltd
www.sabvestcapital.com
Date: 09-09-2020 07:30:00
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