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MAHUBE INFRASTRUCTURE LIMITED - Interim results and dividend declaration

Release Date: 30/11/2021 11:20
Code(s): MHB     PDF:  
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Interim results and dividend declaration

Mahube Infrastructure Limited
(Formerly GAIA Infrastructure Capital Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2015/115237/06)
ISIN: ZAE000290763
JSE code: MHB
(“Mahube” or the “Company”)

Extract from the Interim Financial Results for the six months ended 31 August 2021 and cash
dividend declaration

Salient features:

•       Tangible net asset value per share R10.91
•       Interim gross cash dividend declaration of 28.00 cents per share
•       Gross assets under management at R748.6 million
•       Dividends received up 11.2% to R32.0 million from R28.8 million in the comparative
        period last year
•       Headline and basic earnings per share at 60.31 cents per share, up 13.4%
Investment portfolio

Mahube is an infrastructure company that offers investors exposure to infrastructure assets
in Southern Africa. Our vision is to stimulate fast, inexpensive and sustainable delivery and
upkeep of infrastructure on a significant scale. Mahube aims to provide investment returns
that are characterised by predictable and regular cash flows generated from infrastructure
assets, long-term investment into ownership and operation of assets, and blue-sky upside
from providing disruptive solutions to infrastructure-related market inefficiencies. Currently
Mahube has invested in, and holds, equity interests in two wind farms and three solar
photovoltaic farms with a collective power generation capacity of approximately 400 MW. All
five renewable energy assets were licensed during Round 1 of the Renewable Energy
Independent Power Procurement Programme in South Africa, each to generate electricity
that they sell to Eskom under a 20-year power purchase agreement.

Condensed Statement of Comprehensive Income for the six months ended 31 August 2021

                                                 31 August 2021   31 August 2020   change

    Revenue (R’000)                                     40 704           56 531      (28)
    Net profit (R’000)                                  33 261           29 322       13
    Earnings and headline earnings per
    share (cents)
                                                         60.31            53.17       13

    Net asset value per share                             10,91            11,12      (2)

Dividend distribution
The Board has pleasure in announcing that an interim gross dividend per ordinary share of 28.00000
cents, has been declared for the six months ended 31 August 2021. Dividends are subject to Dividends
Withholding Tax. The payment date for the dividend is 28 December 2021.

• Dividends have been declared from income reserves.
• Local Dividends Withholding Tax rate is 20%.
• The gross dividend amount is 28.00000 cents per ordinary share.
• The net cash dividend amount is therefore 22.40000 cents per ordinary share.
• The Company has 55 151 000 ordinary shares in issue as at the declaration date.
• The Company’s income tax reference number is 9473/844/17/4.

Salient dates for the dividend will be as follows:

                                                                       Tuesday, 21 December 2021
 Last day to trade cum the ordinary share dividend
                                                                    Wednesday, 22 December 2021
 Ordinary shares commence trading ex-dividend
                                                                          Friday, 24 December 2021
 Ordinary share dividend record date
                                                                        Tuesday, 28 December 2021
 Payment date of ordinary share dividend

Share certificates may not be dematerialised or rematerialised between Wednesday, 22 December
2021 and Friday, 24 December 2021, both days inclusive.

This short form announcement is the responsibility of the Directors and is a summary of the information
contained in the full announcement and does not contain full or complete details. Furthermore, this
short-form results announcement has not been reviewed, audited or reported on by Mahube’s auditors
but has been extracted from the interim condensed financial results for the six months ended 31 August


Any investment decision should be based on the full announcement published on Mahube’s


The JSE website:

The full announcement is available for inspection, free of charge, during normal business hours at
Mahube’s business address, 3rd Floor, Penthouse 5, 4 The High Street, Melrose Arch, 2196.

By order of the Board
30 November 2021
Sasfin Capital (a member of the Sasfin Group)

Date: 30-11-2021 11:20:00
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