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Exx - Reviewed Group Annual Financial Statements; Final Dividend; Special Dividend and Changes to the Board
Exxaro Resources Limited
Registration number: 2000/011076/06
JSE share code: EXX
ISIN: ZAE000084992
ADR code: EXXAY
Bond Code: EXX04
ISIN No: ZAG000160326
Bond Code: EXX05
ISIN No: ZAG000160334
(“Exxaro” or the “Company”)
REVIEWED GROUP ANNUAL FINANCIAL RESULTS
for the year ended 31 December 2020, final dividend and special dividend and
CHANGES TO THE BOARD OF DIRECTORS
Revenue of R28.9 billion, up 12%
Net operating profit of R4.3 billion, down 33%
AEPS of 2 902 cents, down 26%
HEPS of 2 955 cents, down 2%
Final dividend of 1 243 cents per share, up 677 cents per share
Tronox proceeds
- Special dividend of 543 cents per share
- R1.5 billion share buyback programme
Exxaro, a large South African-based diversified resources group, with interests in the coal,
energy, ferrous and TiO2 markets released its annual results for the year ended
31 December 2020.
This short-form announcement is the responsibility of the directors and is only a summary of the
information in the full announcement and does not contain full or complete details. Any investment
decision by investors or shareholders should be based on consideration of the full announcement.
The full announcement has been released on the Stock Exchange News Service of the JSE
Limited (SENS) and can be found on the company’s website at
https://www.exxaro.com/investors/financial-results and on the JSE website at
https://senspdf.jse.co.za/documents/2021/jse/isse/EXX/AFS-YE2020.pdf.
Copies of the full announcement may also be requested at the company’s registered office, at no
charge, during office hours on normal business days, subject to COVID-19 office protocols.
In line with the Company’s revised dividend policy, Exxaro has declared a final dividend of 1 243
cents per share which was approved by the board of directors on 16 March 2021 and is payable
on 3 May 2021 to shareholders who will be recorded on the register on 30 April 2021. The final
dividend is subject to dividend withholding tax at a rate of 20% for all shareholders who are not
exempt from or do not qualify for a reduced rate of dividend withholding tax ( net local dividend
amounts to 994.40000 cents per share).
Following the disposal of Exxaro’s remaining shareholding in Tronox Holdings plc (as approved
by the Financial Surveillance Department of the South African Reserve Bank), a special dividend
of 543 cents per share was approved by the board of directors on 16 March 2021. The special
dividend is payable on 3 May 2021 to shareholders who will be recorded on the register on 30
April 2021. The special dividend is subject to dividend withholding tax at a rate of 20% for all
shareholders who are not exempt from or do not qualify for a reduced rate of dividend withholding
tax (net local dividend amounts to 434.40000 cents per share).
In addition to the special dividend declared, Exxaro intends to use a portion of the Tronox
proceeds to launch a share buyback programme of R1.5 billion in accordance with the
shareholder approval obtained at the 2020 AGM and in conformance with the conditions thereof.
Salient dates for the payment of the final and special dividends are:
Last day to trade cum dividend on the JSE Monday, 26 April 2021
First trading day ex dividend on the JSE Wednesday, 28 April 2021
Record date Friday, 30 April 2021
Payment date Monday, 3 May 2021
No share certificates may be dematerialised or rematerialised between Wednesday, 28 April 2021
and Friday, 30 April 2021, both days inclusive.
The number of ordinary shares in issue as at the date of this declaration is 358 706 754. Exxaro’s
company tax reference number is 9218/098/14/4
Changes to the board of directors
In line with the King Code on Corporate Governance for South Africa, as amended or replaced
from time to time, and the JSE Listings Requirements with respect to good corporate governance
practices, Exxaro aims to ensure that there is a clear balance of power and authority at board
level and to ensure that there is adequate succession planning to maintain ongoing knowledge
and experience at board level.
The Exxaro board of directors (“Board”) accordingly, and in terms of paragraph 3.59 of the JSE
Limited Listings Requirements, herewith notify shareholders that
- Mr MDM (Mxolisi) Mgojo, chief executive officer (CEO), will retire as CEO and member of the
Board when he reaches the retirement age of 63, on 31 May 2023.
- Dr N (Nombasa) Tsengwa, has been appointed as CEO-designate and member of the Board
of Exxaro effective from 16 March 2021. Her appointment as CEO will become effective once
the CEO retires on 31 May 2023.
Dr Tsengwa’s appointment forms part of a carefully considered succession plan which has
taken place over the past two years. The transition period will ensure a smooth and phased
handover of duties and responsibilities.
Dr Tsengwa has more than 18 years' executive management and board experience in the
public and private sectors. In 2003, she joined Kumba as general manager: safety, health and
environment. In 2007, she was appointed executive general manager: safety and s ustainable
development. In 2010, she became directly involved with the management of coal operations
as general manager of captive mines and general manager of Mpumalanga operations. In
2015, she was appointed acting executive head of coal operations and e xecutive head of coal
operations in 2016. She was subsequently appointed as Exxaro’s managing director minerals
business in July 2020. She is the 2017 winner of the Standard Bank Business Woman of the
Year Award and the 2018 winner of the Pan African Awards Africa’s most influential woman
in business and government mining industry category. An avid long -distance runner, Dr
Tsengwa has completed nine Comrades marathons.
- Mr J (Jeff) Van Rooyen’s tenure as chairman and independent non -executive director of the
Board of Exxaro will come to an end at the annual general meeting to be held on 27 May
2021. The Board would like to thank the outgoing chairman for his contribution and
stewardship during his term of office. The Board has initiated a search process for his
replacement and a further announcement in this regard will be made in due course.
By order of the board
Jeff van Rooyen
Chairman
18 March 2021
Executive directors Registered office
MDM Mgojo (chief executive officer) Exxaro Resources Limited
N Tsengw a (chief executive officer designate) The ConneXXion
PA Koppeschaar (finance director) 263B West Avenue
Die Hoewes, Centurion
Non-executive directors
L Mbatha www. exxaro.com
VZ Mntambo
M Msimang Lead Sponsor
Absa Bank Limited (acting through its Corporate and
Independent non-executive directors Investment Banking Division)
J van Rooyen (chairman) Tel: +27 11 895 6000
GJ Fraser-Moleketi (lead independent director)
MJ Moffett Joint Equity Sponsor
LI Mophatlane Tamela Holdings Proprietary Limited
EJ Myburgh Tel: +27 11 783 5027/4097
V Nkonyeni
PCCH Snyders Acting Group Company secretary
CJ Nxumalo AK Maré, Inlexso Proprietary Limited
Transfer secretaries
Computershare Investor Services Proprietary Limited
Rosebank Towers, 13 Biermann Avenue, Rosebank
Date: 18-03-2021 07:05:00
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