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RH BOPHELO LIMITED - Condensed Unaudited Interim Results For The Six Months Ended 31 August 2021

Release Date: 26/11/2021 16:33
Code(s): RHB     PDF:  
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Condensed Unaudited Interim Results For The Six Months Ended 31 August 2021

Incorporated in the Republic of South Africa
(Registration number: 2016/533398/06)
 JSE & RSE Share Code: RHB, ISIN: ZAE000244737
(“RHB” or “the Company”)


The Board of Directors ("the Board") of the Company is pleased to present the results for the period ended 31
August 2021.

The key financial indicators reflected in these financial results are:

  •   Net asset value per share increased by 11,43%, to R14,32 in the current period from R12,85 in the
      prior period.
  •   Net asset value increased by 22,43% when compared to the prior period, from of R756,7 million to
      R926,5 million.
  •   Earnings per share and headline earnings per share have decreased by 12,23% from R1,39 to R1,12.
  •   Investment income decreased by 11,23% when compared to the prior period, from R114,8 million to
      R101,9 million.
  •   Total income before tax decreased by 11,35% when compared to the prior period, from R103 million to
      R91,3 million in the current period.
  •   Total income after tax decreased by 11,11% from R81 million in the prior period to R72 million in current
  •   A maiden dividend of R9,7 million (calculated at 15 cents per share) was declared for Class “A” Ordinary
      shares on the 26 May 2021 with a dividend per share of 15 cents and the date of payment was 26 July
  •   The Board approved a gross dividend of R3,9 million in relation to the unlisted 1 “B” Class Share. The
      “B” Class Share dividend was declared on the 26 November 2021. The B share has been issued to the
      company’s investment management company RH Bophelo Management Company (ManCo) and its
      dividend represents a reward for management services provided to RH Bophelo. The dividend is
      calculated using a formula that accounts for the cumulative growth in the net asset value of RH Bophelo.
      RH Bophelo Limited’s tax refence number is 9729/758/160. The dividend is exempt from dividend
      withholding tax.

                                                                  Aug-21             Aug-20              Feb-21
                                                                Unaudited          Reviewed              Audited
                                                                        R                 R                    R

Investment income                                             101 984 873       114 859 350         188 834 745
Other income                                                      181 988           138 000             430 411
Total expenses                                               (10 778 330)      (11 925 752)        (22 747 356)
Total income before tax                                        91 388 531       103 071 598         166 517 800
Income tax                                                   (19 247 090)      (21 942 494)        (35 300 586)
Total income after tax                                         72 141 441        81 129 104         131 217 214

Per share information
Basic and headline earning per share (R)                             1,12              1,39                2,18
“A” Ordinary dividend per share (R)                                  0,15                 -                   -
Weighted average number of issued shares                       64 699 423        58 453 660          60 316 801

                                                                  Aug-21             Aug-20              Feb-21
                                                                Unaudited          Reviewed              Audited
                                                                        R                 R                    R

Net asset value                                              926 513 805       756 697 948         864 076 058
Cash and cash equivalents                                     15 357 453        44 164 704          34 699 084
Number of shares in issue                                     64 699 423        58 875 000          64 699 423
Net asset value per share (R)                                  14,32               12,85              13,36


This short-form announcement is the responsibility of the Directors of the Company. It is a summary of the
full    announcement      released on    SENS       and    published     on   the    Company’s    website
( on 26 November 2021 and does not contain
full or complete details.

Any investment decisions by investors and/or shareholders should be based on consideration of the full
announcement available on the Company’s website and SENS. The full announcement can be accessed using
the following links:
    •    Company website (
    •    JSE Link:

The full announcement can also be requested from the Company Secretary via an email (cosec@corporate- and it’s also available for inspection at the Company’s registered office.

On behalf of the Board
Quinton Zunga

Katekani Dion Mhlaba CA (SA)


26 November 2021

Registered Office                                      Transfer Secretaries
1st Floor Unit 12, 1 Melrose Boulevard                 Computershare Investor Services Proprietary Limited
Melrose Arch, Johannesburg, 2191                       (Registration number 2004/003647/07)
South Africa                                           Rosebank Towers,
                                                       15 Biermann Ave, Rosebank,
Directors                                              Johannesburg, 2196
Q Zunga (Chief Executive Officer)                      South Africa
KD Mhlaba (Chief Financial Officer)
VP Nomvalo (Executive Director)                        Sponsor South Africa
CW Clarke (Executive Director)                         Deloitte & Touche Sponsor Services Proprietary
Dr. SG Motuba (Lead Independent Non-Executive          Limited
Director)                                              (Registration number 1996/000034/07)
Dr. KR Ntshwana (Independent Non-Executive             Deloitte & Touche
Director)                                              5 Magwa Crescent
JR Oliphant (Non-Executive Chairman)                   Waterfall City
Dr. PD Sekete (Non-Executive Director)                 Johannesburg, Gauteng
DM Lerutla (Independent Non-executive Director)        2090
B Segooa (Independent Non-Executive Director)          South Africa
LR Maseko (Independent Non-Executive Director)
                                                       Sponsor Rwanda
Company Secretary                                      FAIDA Securities Rwanda Limited
Corporate Vision Consulting Proprietary Limited        Faida Securities Rwanda Limited
Registration number: (2015/006536/07)                  (Registration number 101856301)
Cedar Office Estate, Building 3                        Centenary House,
Stinkwood Close, Cedar Road                            4th-Floor
Fourways                                               124
Johannesburg, 2191                                     Kigali
Mazars South Africa
54 Glenhove road
Melrose Estate

Date: 26-11-2021 04:33:00
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