To view the PDF file, sign up for a MySharenet subscription.

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED - Short Form Announcement - Unaudited Interim Results for the Period Ended 28 February 2021 and Dividend Declaration

Release Date: 27/05/2021 17:40
Code(s): AEE     PDF:  
Wrap Text
Short Form Announcement - Unaudited Interim Results for the Period Ended 28 February 2021 and Dividend Declaration

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 1996/00609306
Share Code: AEEI and ISIN ZAE00001975731
(“AEEI” or “the Group” or “the Company”) – A SEKUNJALO GROUP COMPANY


SHORT FORM ANNOUNCEMENT - UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR
THE PERIOD ENDED 28 FEBRUARY 2021 AND INTERIM DIVIDEND DECLARATION

FINANCIAL HIGHLIGHTS

                                                                  29          %
                                           28 February      February     Change
                                                  2021          2020
                                                 R’000         R‘000
 Revenue                                     1 171 203     1 614 098    (27.44)
 Net cash utilised in operating              (250 375)     (138 909)      80.24
 activities
 (Loss)/profit before tax                     (28 209)       138 926   (120.31)
 Earnings per share (cents)                    (12.33)         24.04   (151.29)
 Headline earnings                            (32 610)        60 402   (153.99)
 Headline earnings per share (cents)              (6.64)       12.30   (153.99)
 Normalised headline earnings                  (6 368)       108 565   (105.87)
 Normalised headline earnings per share           (1.30)       22.11   (105.87)
 (cents)
 Net asset value per share (cents)            1 195.81      1 310.98     (8.79)
 Total assets                                6 878 097     7 496 249     (8.25)
 Gross interim dividend (cents)                       30          10     200.00
 Interim gross dividend to shareholders        147 307        49 102     200.00




Normalised earnings were calculated as follows:

                                                       28 February           29
                                                              2021     February
                                                             R’000         2020
                                                                          R’000
 Headline earnings                                         (32 610)      60 402
 Fair value adjustments                                    (46 696)      30 296
 Deferred tax on fair value adjustments                      10 461     (6 787)
 Net impairments, impairment reversals and write-            62 477      24 654
 offs
 Normalised headline earnings                               (6 368)     108 565



DECLARATION OF CASH DIVIDEND


                                                                        R’000

Dividend declared after reporting date                                 147 307
Gross Dividends per share (cents)                                           30

Notice is hereby given that an interim gross dividend of 30 cents per share has
been declared out of income reserves in respect of ordinary shares of no-par
value for the period ended 28 February 2021.
The interim dividend amount, net of South African dividend tax of 20% which
equates to 6 cents per share, will be 24 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)                             30
Dividend net of dividend withholding tax (cents)             24
Last day to trade cum dividend                               Monday, 14 June 2021
Trading ex-dividend commences                                Tuesday, 15 June 2021
Record date                                                  Friday, 18 June 2021
Date of payment                                              Monday, 21 June 2021

Share certificates may not be dematerialised or rematerialised between Tuesday,
15 June 2021 and Friday, 18 June 2021, 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, does not contain the full and complete details and is the
responsibility of the directors.

Shareholders are hereby advised that AEEI’s condensed unaudited consolidated
results for the period ended 28 February 2021 are available on AEEI’s website
and can be viewed at:
https://senspdf.jse.co.za/documents/2021/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
27 May 2021

DIRECTORATE AND STATUTORY INFORMATION

Directors
*Valentine Dzvova (chief executive officer); Aziza Amod (non-executive
Chairman); *Jowayne Van Wyk (chief financial officer); 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, 8001
Transfer secretaries: JSE Investor Services Proprietary Limited. 13th Floor, 19
                    Ameshoff Street, Braamfontein, Johannesburg, 2004
Joint Sponsors:        Vunani Sponsors Proprietary Limited
Vunani House, Vunani Office Park, 151 Katherine Street,
Sandown, Johannesburg, 2196
Merchantec Capital
13th Floor, lllovo Point,68 Melville Road, lllovo, 2196

Date: 27-05-2021 05:40:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story