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Short Form Announcement - Reviewed Provisional Results for the Year Ended 31 August 2020 and Dividend Declaration
African Equity Empowerment Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: AEE and ISIN: ZAE000195731
(“AEEI” or “the Group” or “the Company”)
SHORT FORM ANNOUNCEMENT - REVIEWED PROVISIONAL CONDENSED CONSOLIDATED ANNUAL RESULTS FOR THE YEAR ENDED 31 AUGUST 2020
AND FINAL DIVIDEND DECLARATION
FINANCIAL HIGHLIGHTS
31 August 31 August %
2020 2019 Change
R’000 R‘000
Revenue 3 427 579 2 377 368 44.18
Net cash generated from operating activities 199 642 143 144 39.47
Profit/(loss) before tax 111 155 (2 388 102) 104.65
Earnings per share (cents) 1.93 (304.09) 100.63
Headline earnings 4 554 494 317 (99.08)
Headline earnings per share (cents) 0.93 100.64 (99.08)
Normalised headline earnings* 174 832 585 615 (70.15)
Normalised headline earnings per share (cents) 35.61 119.23 (70.15)
Net asset value per share (cents) 1 256.46 1 304.16 (3.66)
Total assets 7 211 679 7 454 311 (3.25)
Gross final dividend (cents) 20 6 233.33
Final gross dividend to shareholders 98 204 29 461 233.33
Total gross dividend to shareholders (cents) 30 17 76.47
Total gross dividend to shareholders 147 307 83 474 76.47
*Normalised earnings were calculated as follows:
31 August 31 August
2020 2019
R’000 R’000
Headline earnings 4 554 494 317
Fair value adjustments 108 558 14 513
Deferred tax on fair value adjustments (24 317) (3 251)
Net impairments, impairment reversals and write-offs 86 037 80 036
Normalised headline earnings 174 832 585 615
DECLARATION OF CASH DIVIDEND
R’000
Dividend declared after reporting date 98 204
Gross Dividends per share (cents) 20
Notice is hereby given that a final gross dividend of 20 cents per share has been declared out of income
reserves in respect of ordinary shares of no-par value for the year ended 31 August 2020.
The final dividend amount, net of South African dividend tax of 20% which equates to 4 cents per share, is
therefore 16 cents per share for those shareholders that are not exempt from dividend tax.
The number of ordinary shares in issue at declaration date is 491 022 434 and the income tax number of
the Company is 9 314 001 034.
The salient dates of this dividend distribution are:
Gross dividend per share (cents) 20
Dividend net of dividend withholding tax (cents) 16
Last day to trade cum dividend Monday, 14 December 2020
Trading ex-dividend commences Tuesday, 15 December 2020
Record date Friday, 18 December 2020
Date of payment Monday, 21 December 2020
Share certificates may not be dematerialised or rematerialized between Tuesday, 15 December 2020 and
Friday, 18 December 2020, both days inclusive.
STATEMENT OF COMPLIANCE AND BASIS OF PREPARATION
This short-form announcement contains only a summary of the information in the full announcement and
does not contain the full and complete details and is the responsibility of the directors.
The condensed consolidated financial statements were reviewed by Crowe JHB and THAWT Inc. whose
unmodified review opinion has been issued on the reviewed provisional condensed consolidated financial
statements for the financial year ended 31 August 2020.
Shareholders are hereby advised that AEEI’s reviewed provisional condensed consolidated results for the
year ended 31 August 2020 are available on AEEI’s website and can be viewed at
https://senspdf.jse.co.za/documents/2020/jse/isse/aee/SENS LF.PDF or may be requested from the
company via damien@aeei.co.za or obtained in person, at no charge, at the registered office of the
company or the offices of the joint sponsors during business hours. Any investment decisions by investors
and/or shareholders should be based on consideration of the full announcement.
APPRECIATION
We wish to thank our employees, Group executives, management, our Board of directors as well as our
strategic partners, stakeholders and business partners for their loyalty and dedication in contributing to the
success of the Group.
Mrs Aziza Amod Mrs Valentine Dzvova
Non-executive chairperson Chief executive officer
25 November 2020
DIRECTORATE AND STATUTORY INFORMATION
Directors
* Valentine Dzvova (chief executive officer); Aziza Amod (Non-executive chairman); *Jowayne Van Wyk
(chief financial officer); Ismet Amod; Gaamiem Colbie; Willem Raubenheimer; Bongikhaya Qama
*Executive directors
Company Secretary: Damien Terblanche Email: damien@aeei.co.za
Business address: 1st Floor, Waterway House North, 3 Dock Road, Victoria and Alfred Waterfront,
Cape Town, Western Cape, 8001
Transfer secretaries: Link Market Services South Africa Proprietary Limited, Rennie House, 13th Floor,
19 Ameshoff Street, Braamfontein, 2001
Joint Auditors: Crowe JHB
3 Sandown Valley Crescent, Sandown, Johannesburg, 2196
Thawt Inc.
3 Monte Vista Blvd, Monte Vista, Cape Town, 7460
Joint Sponsors: Vunani Sponsors
Vunani House, Vunani Office Park, 151 Katherine Street, Sandown,
Johannesburg, 2196
Merchantec Capital
13th Floor, lllovo Point, 68 Melville Road, lllovo, 2196
Date: 25-11-2020 05:46:00
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