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Unaudited interim results for the six months ended 31 August 2023 and dividend declaration and changes in directors
RH BOPHELO LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2016/533398/06)
JSE & RSE Share Code: RHB, ISIN: ZAE000244737
("RHB" or "the Company")
SHORT FORM ANNOUNCEMENT OF THE CONDENSED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31
AUGUST 2023 AND DIVIDEND DECLARATION AND CHANGES IN DIRECTORS
INTRODUCTION
The Board of Directors ("the Board") of the Company is pleased to present the unaudited interim results for
the six months ended 31 August 2023.
FINANCIAL OVERVIEW
The key financial indicators reflected in these financial results are as follows:
- Investment income increased by 229% when compared to the prior period, from R17 million to R56
million;
- Total income after tax increased by 248% when compared to the prior period, from R5,3 million to
R18,4 million;
- Net asset value and tangible net asset value per share decreased by 2% when compared to prior period
from R14,06 down to R13,76;
- Net asset value decreased by 2% when compared to the prior period, from R909 million to R890
million;
- Basic earnings per share and headline earnings per share increased by 248% when compared to the
prior period, from 8,19 cents to 28,52 cents;
- The Company and its investments remain liquid and solvent, with sufficient resources to continue
operating into the foreseeable future; and
- The Board approved and declared a gross dividend on "A" ordinary shares of ZAR 31 cents per "A"
share, record date Thursday, 14 December 2023. The total dividend declared amounts to R20 million
(prior period nil).
Aug-23 Aug-22 Feb-23
Unaudited Unaudited Audited
R R R
Total investment income / (loss) 56 160 423 17 077 194 (20 069 291)
Other income 411 000 198 500 4 242 350
Total expenses (30 586 565) (11 883 738) (28 782 497)
Total income / (loss) before tax 25 984 858 5 391 956 (44 609 438)
Income tax (7 535 667) (90 582) 12 396 598
Total income / (loss) after tax 18 449 191 5 301 374 (32 212 840)
Earnings per share (cents)
Basic and diluted earnings/(loss) per
28,52 8,19 (49,80)
share (cents)
Diluted and headline earnings/(loss)
28,52 8,19 (49,80)
per share (cents)
"A" Ordinary dividend per share (cents) - - -
Weighted Average Number of Shares 64 691 298 64 691 298 64 691 298
Net asset value 890 192 895 909 257 918 817 743 704
Cash and cash equivalents 111 126 064 42 206 217 151 930 126
Number of shares in issue 64 691 298 64 691 298 64 691 298
Net asset value and tangible net asset
value per share (R) 13,76 14,06 13,48
DIVIDEND DECLARATION
Shareholders are hereby advised that the Board of Directors of RH Bophelo has approved and declared an interim
gross cash dividend of 31 cents per "A" ordinary share, from income reserves, for the six months ended 31
August 2023.
The dividend is subject to a South African dividend withholding tax rate of 20%, resulting in a net dividend of
24,8 cents per "A" ordinary share, unless the shareholder is exempt from paying dividend tax.
As at the date of this announcement, the Company has 64 691 298 "A" ordinary shares of no par value in issue
and ranking for dividend at the date of this declaration.
The Company's income tax reference number is 9729/758/160.
Salient dates and times
Shareholders are hereby advised of the following salient dates and times for the payment of the dividend:
Declaration date: Tuesday, 28 November 2023
Last day to trade cum dividend: Monday, 11 December 2023
Securities commence trading ex-dividend: Tuesday, 12 December 2023
Record date for purposes of determining the registered holders of "A" ordinary shares to participate in the
dividend at close of business on Thursday, 14 December 2023
Payment date: Monday, 18 December 2023
Share certificates may not dematerialised or rematerialised between Tuesday, 12 December 2023 and Thursday,
14 December 2023, both dates inclusive.
RESIGNATION AND APPOINTMENT OF CHIEF FINANCIAL OFFICER
Shareholders are hereby informed of the resignation of Mr Katekani Dion Mhlaba as Executive Director and Chief
Financial Officer of the Company effective 1 December 2023. The Board would like to extend its appreciation for
his commitment and service to the Company over the years.
Additionally, shareholders are hereby informed of the appointment of Ms Aviwe Yondie Metu as Executive
Director and Chief Financial Officer effective 1 December 2023. Ms Metu has a Bachelor of Accounting and
Honors in Accounting from the University of Kwa-Zulu Natal. She is a qualified Chartered Accountant with 17
years working experience. She has worked on various executive-level financial leadership capacities for multiple
companies in reporting, continually revamping and improving processes, internal controls and managing staff
to achieve dynamic results. She has held multiple senior Board memberships, including a non-executive director
of Combined Motor Holdings Limited, which is listed on the Johannesburg Stock Exchange.
SHORT-FORM NOTICE
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
(https://www.rhbophelo.co.za/investment/sens-announcements) on 28 November 2023 and on the JSE cloud
link: https://senspdf.jse.co.za/documents/2023/jse/isse/RHBE/Half2023.pdf 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.
The full announcement can also be requested from the company secretary via an email (Rose@statucor.co.za)
and it's also available for inspection at the company's registered office during office hours.
On behalf of the Board
Mr Quinton Zunga
CEO
Mr Dion Mhlaba
CFO
Johannesburg
28 November 2023
Registered Office Transfer Secretaries
Unit 12, 1 Melrose Boulevard Computershare Investor Services Proprietary
Melrose Arch, Melrose North Limited
Johannesburg, 2076 (Registration number 2004/003647/07)
South Africa Rosebank Towers,
Tel: 010 007 2171 15 Biermann Ave, Rosebank,
Email: invest@rhbophelo.co.za Johannesburg, 2196
South Africa
Directors
Q Zunga (Chief Executive Officer) Sponsor South Africa
KD Mhlaba (Chief Financial Officer) Deloitte & Touche Sponsor Services Proprietary
C Clarke (Executive Director) Limited
S Moraba (Independent Non-Executive Chairman) (Registration number 1996/000034/07)
Dr PD Sekete (Non-Executive Director) Deloitte & Touche
B Segooa (Independent Non-Executive Director) 5 Magwa Crescent
F Makwetla (Non-Executive Director) Waterfall City
R Makhubela (Independent Non-Executive Director) Johannesburg, Gauteng
2090
South Africa
Company Secretary
Statucor Consulting Proprietary Limited
(Registration number 1989/005394/07) Sponsor Rwanda
Building 5, Summit Place, 221 Garsfontein Road Faida Securities Rwanda Limited
Menlyn, Pretoria, 0181 (Registration number 101856301)
South Africa Centenary House,
4th-Floor
Auditors 124
Mazars Kigali
54 Glenhove Road Rwanda
Melrose Estate
Johannesburg
Gauteng
2196
South Africa
Date: 28-11-2023 05:30:00
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