HOME     SUBSCRIBERS     TRADE     PRODUCTS & SERVICES    
About Sharenet
Enter any share name or code:    

12-Nov-2018
(C)
26-Sep-2018
(Official Notice)
Shareholders are advised that, following the conclusion of the external audit tender process, the board has, in accordance with Article 152(1) of the Maltese Companies Act, approved the Audit Committee?s recommendation to appoint PricewaterhouseCoopers (?PwC?) as the company?s external auditor for the financial year ending 31 March 2019. The appointment is effective immediately.



Shareholders will have an opportunity to confirm PwC?s appointment as the company?s external auditor at the next Annual General Meeting.
21-Aug-2018
(Official Notice)
Shareholders of Brait are advised that the Brait Audit Committee has decided to put the external audit out to tender as the cost of the audit has not been benchmarked externally for a number of years. Deloitte has declined to participate in the tender and has resigned as auditor with immediate effect. Deloitte has confirmed in writing that there are no circumstances to be brought to the attention of the members or creditors of the Company in connection with it ceasing to hold office.



Following the conclusion of the tender process, the Board will announce the appointment of the new external auditor by no later than 30 September 2018 for the current financial year ended 31 March 2019. Shareholders will be given an opportunity to consider and approve the appointment of this auditor at an Extraordinary General Meeting to be scheduled thereafter.

25-Jul-2018
(Official Notice)
Shareholders of the company are advised that 82.5% of the total ordinary shares in issue were represented at the Annual General Meeting (?AGM?) of the company held earlier today, 25 July 2018.



All ordinary and extraordinary resolutions tabled at the AGM were approved by the requisite majority of votes. Resolutions approved were as per the agenda in the AGM notice circulated to shareholders on 2 July 2018.



Specifically, the company?s authority to purchase its own shares has been renewed until the earlier of 30 October 2019 or the next AGM. The renewal terms approved in this regard are consistent with those previously announced to the market, with the exception that the maximum number of share repurchases on any trading day is now set to 397 496 ordinary shares.



No additional matters were tabled at the AGM.
02-Jul-2018
(Official Notice)
Shareholders are advised that Brait?s 2018 Integrated Annual Report for the year ended 31 March 2018 has been posted to Brait shareholders. Copies may be obtained from the Company?s registered office or an electronic format is also available on the Company?s website at www.brait.com. The Company?s Annual General Meeting will be held at 09H00 CET on Wednesday, 25 July 2018, at the Company?s registered office.
19-Jun-2018
(C)
09-May-2018
(Official Notice)
Shareholders of the Company are advised that Dr Christo Wiese has notified the Brait board of directors (?Board?) that, due to time constraints, he has retired effective 8 May 2018 as (i) a non-executive director of Brait?s investee company, New Look, and (ii) as the non-executive chairman of Brait South Africa (Pty) Ltd. (?BSAL?), which serves as a contracted corporate advisor to Brait.



Dr Wiese will retain his non-executive directorship of Brait and has, effective 8 May 2018, appointed Mr Jacob Wiese as an alternate.



The board further advises that, as provided for in the corporate advisory agreement, it has been agreed that Mr Chris Seabrooke, a non-executive director of Brait and chairman of its audit committee, is appointed (i) as a non-executive director to the boards of Brait?s four main investee companies, namely Virgin Active, Premier, Iceland Foods and New Look; and (ii) as the non-executive chairman of BSAL.
15-Nov-2017
(C)
07-Nov-2017
(Official Notice)
Shareholders of the Company are advised that:

Brait?s reported Net Asset Value ("NAV") per share at 30 September 2017 is anticipated to be between ZAR65.50 and ZAR67.50 (EUR4.09 and EUR4.21):

*For the three month period, this represents a reduction of between 8.9% and 11.7% from the ZAR74.14 reported at 30 June 2017 (in Euros, a decrease of between 15.1% and 17.6% from EUR4.96);

*For the six month period, this represents a reduction of between 13.6% and 16.2% from the ZAR78.15 reported at 31 March 2017 (in Euros, a decrease of between 22.8% and 25.1% from EUR5.46); and

*For the twelve month period, this represents a reduction of between 35.7% and 37.7% from the ZAR105.06 reported at 30 September 2016 (in Euros, a decrease of between 38.1% and 40.0% from EUR6.81).



The decrease in reported NAV per share over these periods ended 30 September 2017, is primarily due to the reduction in carrying value of Brait?s investment in New Look. In accordance with Brait?s valuation policies, until such time as New Look?s turnaround strategy has taken shape, Brait?s investment in New Look is valued at nil.



Despite the tough trading period, New Look retains an adequate liquidity position with GBP242.5m total cash, liquidity and operating facilities available at 23 September 2017, its half year reporting period. Brait remains committed to being a long-term shareholder of New Look.



Historic EV/EBITDA valuation multiples applied at 30 September 2017 for Virgin Active and Iceland Foods are unchanged at 11.4 and 9.0x respectively. Premier?s valuation multiple has been reduced from 13.2x to 12.4x, largely to take consideration of the trend over the past twelve months of the peer average spot multiple trading at an increased discount to its three-year trailing average.



The financial information on which this trading statement is based has not been reviewed and reported on by the Company?s external auditors. The 30 September 2017 financial results of the Company are currently being prepared and are expected to be released on the website of the Luxembourg Stock Exchange and the Stock Exchange News Service of the JSE Limited on or about 15 November 2017.

10-Aug-2017
(Official Notice)
The Issuer hereby notifies shareholders and bondholders that, as a result of the bonus share issue with cash dividend alternative to shareholders on record date on 4 August 2017 (as announced on 30 June 2017), the convertible bond conversion rrice is adjusted from GBP7.8400 to GBP7.7613 in accordance with the Conditions (including, but not limited to, the definition of ?Dividend?, and Conditions 6(b)(ii), 6(b)(iii) and 6(f)), effective 2 August 2017.



In accordance with Condition 11(xii), the aggregate amounts of cash dividends paid and bonus shares issued used to determine the aforementioned adjustment to the Conversion Price are available on the group website www.brait.com.







08-Aug-2017
(Official Notice)
Shareholders of the Company are advised that:

*Brait?s reported NAV per share at 30 June 2017 is R74.14. This represents a decrease of 5.1% compared to 31 March 2017?s reported NAV per share of ZAR78.15.

*The three-year CAGR for reported Rand NAV per share to 30 June 2017 is 30.7% per annum (benchmark of 15% per annum); including ordinary share dividends, it is 31.8%.

*Expressed in Pound Sterling, on the basis that Brait is most invested in this currency, Brait?s NAV per share at 30 June 2017 is GBP4.35 compared to GBP4.63 at 31 March 2017, a decrease of 6.0%. The three-year Pound Sterling CAGR for GBP NAV per share to 30 June 2017 is 33.5%; including ordinary share dividends, it is 34.2%.

*Historic EV/EBITDA valuation multiples applied at 30 June 2017 remain unchanged. The valuation multiples used and their respective discount to peer group 3-year trailing average multiples are as follows: (i) Virgin Active is valued at 11.4x (17% discount); (ii) Premier is valued at 13.2x (1% discount); (iii) Iceland Foods is valued at 9.0x (20% discount); and (iv) New Look is valued at 10.3x (28% discount).

*The closing GBP/ZAR exchange rate at 30 June 2017 is ZAR17.06, which represents an increase of 1.1% compared to the closing rate of ZAR16.87 as at 31 March 2017.

*Brait purchased 2 682 032 treasury shares during the quarter, at an average price of R62.75. This results in issued ordinary share capital, net of treasury shares, of 503 753 358 at 30 June 2017.

*The respective New Look and Iceland Foods Q1 FY2018 bond investor presentations are available at www.brait.com.

*Both Premier and Virgin Active have traded according to plan for the quarter.



The financial information on which this announcement is based, has not been reviewed and reported on by the Company?s external auditors.

03-Aug-2017
(Official Notice)
Shareholders are referred to the company?s audited financial results for the year ended 31 March 2017, released on the website of the Luxembourg Stock Exchange (?LuxSE?) and the Stock Exchange News Service of the Johannesburg Stock Exchange (?JSE?) on 13 June 2017. The Bonus Share Issue with Cash Dividend Alternative proposed by the directors was approved by shareholders at the annual general meeting, as announced on 26 July 2017.



Shareholders were further advised that where a shareholder's entitlement to New Shares calculated in accordance with the conversion ratio gives rise to a fraction of an ordinary share, such fraction of an ordinary share will be rounded down to the nearest whole number with the fraction being paid in cash, irrespective of whether the shareholder has completed a cash election form or not. The fraction paid in cash will be deemed a cash dividend and treated as such for tax purposes.



The fraction rate has been calculated, in accordance with listing requirements as the volume weighted average price of a Brait share traded on the LuxSE and JSE on Wednesday, 2 August 2017 (being the day on which the Brait share began trading ?ex? the entitlement to receive the Bonus share issue or cash dividend alternative), as EUR3.59653/ZAR56.31621 (EUR3.99614/ZAR62.57357 discounted by 10%). After applying a 20% dividend tax, where applicable, the fraction rate is EUR2.87722/ZAR45.05297 net of dividend tax.
26-Jul-2017
(Official Notice)
30-Jun-2017
(Official Notice)
13-Jun-2017
(C)
26-May-2017
(Official Notice)
Shareholders of the company are advised that:

Brait?s reported Net Asset Value ("NAV") per share for the financial year ended 31 March 2017 is anticipated to be between ZAR77.00 and ZAR79.00 (EUR5.37 and EUR5.52).



With reference to 31 December 2016, which is Brait's most recently reported NAV per share, of ZAR 82.45, this represents a decrease of between 4.1% and 6.7% (in Euros, between 3.1% and 5.8% from EUR5.70).



With regards to the full financial year, NAV per share of ZAR77.00 to ZAR79.00 is a reduction of between 42.0% and 43.5% from the ZAR136.27 reported at 31 March 2016 (in Euros, between 32.0% and 33.9% from EUR8.12).



The financial information on which this trading statement is based has not been reviewed and reported on by the company?s external auditors. The 31 March 2017 financial results of the company are currently being prepared and are expected to be released on the website of the Luxembourg Stock Exchange and the Stock Exchange News Service of the JSE Ltd on or about 13 June 2017.
24-Mar-2017
(Official Notice)
Further to the announcement made by the company on 23 November 2016, the Maltese Registry of Companies issued a transfer certificate on 23 March 2017, completing the formalities required in Malta for the proposed transfer of the company?s registered office from Malta to the United Kingdom.



Completion of the transfer is subject, inter alia, to filings being made with the Registrar of Companies in the United Kingdom. Until such filings are made and the transfer registered, the company continues to be incorporated in and subject to the laws of Malta. The board retains complete discretion to determine whether to proceed with filings in the United Kingdom.



While the board remains convinced of the long term benefits to the company of a transfer to the United Kingdom and a premium listing on the London Stock Exchange, in light of the uncertainty introduced by the timing and form of Brexit and the potential impact on capital markets, the board has determined not to proceed with the transfer and premium listing at this time.
14-Feb-2017
(Official Notice)
Shareholders of the Company are advised that:

*Brait?s reported NAV per share at 31 December 2016 is ZAR82.45

*The decrease of 21.5% compared to 30 September 2016?s NAV of ZAR105.06, includes the adverse impact of the 5% strengthening of the Rand against the Pound Sterling over the quarter, from ZAR17.82 at 30 September 2016 to ZAR16.95 at 31 December 2016. Applying an unchanged exchange rate of ZAR17.82 to the Company?s GBP denominated assets and liabilities, Brait?s reported NAV per share at 31 December 2016 would be ZAR85.36; a decrease of 18.8%

*The three-year CAGR for reported Rand NAV per share to 31 December 2016 is 39.4% per annum (benchmark of 15% per annum); including ordinary share dividends it is 40.4%

*Expressed in Pound Sterling, on the basis that Brait is most invested in this currency, Brait?s NAV per share at 31 December 2016 is GBP4.86 compared to GBP5.90 at 30 September 2016, a decrease of 17.6%. The three-year Pound CAGR to 31 December 2016 is 40.6%; including ordinary share dividends it is 41.1%

*Brait received investment proceeds of ZAR566 million during the quarter (ZAR256 million from Premier; ZAR310 million from the Other Investments portfolio)



Brait?s valuation policy is to reference the EV/EBITDA valuation multiple on a historical basis for each of its investments to their peer group?s trailing three-year average multiple.



Commentary on the rest of the balance sheet:

*Brait received investment proceeds of ZAR566 million during the quarter comprising ZAR256 million from Premier and ZAR310 million from the Other Investments portfolio. The cash holding of ZAR3.5 billion at 31 December 2016 is essentially unchanged for the quarter largely as a result of pre-payments on Brait?s gearing facility and the adverse effect of the Pound Sterling having weakened against the Rand when translating Brait?s GBP186m cash holding.

*The decrease in the Rand carrying value of Brait?s Pound Sterling denominated Convertible Bond is a function of the GBP/ZAR exchange rate.



The financial information on which this announcement is based has not been reviewed and reported on by the Company?s external auditors. The respective New Look and Iceland Foods Q3 FY2017 bond investor presentations are available at www.brait.com.



23-Nov-2016
(Official Notice)
Shareholders are referred to the announcements released on the website of the Luxembourg Stock Exchange (?LuxSE?) and on the Stock Exchange News Service of the JSE Ltd. (?JSE?), on 14 September 2016 and the announcement, circular and notice of extraordinary general meeting (the ?Circular?) published on 31 October 2016 regarding the proposed transfer of the registered office of the Company from Malta to the United Kingdom (the ?Transfer?).



At the Extraordinary General Meeting (?EGM?) held on 22 November 2016, all ordinary and extraordinary resolutions tabled were passed by the requisite majority of votes, with at least 97.7% of shares represented at the EGM approving the resolutions. Further details of the resolutions can be found in the Circular. No additional matters were tabled at the EGM.



Please refer to the Circular for details of the expected timetable of the principal events relating to the Transfer. Shareholders should note that, notwithstanding the passing of the resolutions at the EGM, there can be no guarantee that the Transfer will take place. The Company will continue to assess potential risks and uncertainties associated with the UK?s exit from the EU as well as from general market conditions. The Board may, at any time prior to the Transfer becoming effective, withdraw the Transfer Proposal and/or refrain from completing the Transfer and implementing the other approved resolutions, if the Board, in its sole discretion, considers it to be in the best interest of the Company.



Further announcements regarding the Transfer will be made at the appropriate time. Unless otherwise stated, capitalised terms used in this announcement have the same meaning given in the Circular.



16-Nov-2016
(C)
31-Oct-2016
(Official Notice)
21-Oct-2016
(Official Notice)
Further to the announcement published on 14 September 2016 relating to the proposed transfer of the company?s registered office from Malta to the United Kingdom (the ?Transfer?), the company announces that the Transfer Report, the Transfer Proposal and the proposed New Articles are available for inspection by shareholders and creditors at the registered office of the company at 4th Floor, Avantech Building, St. Julian?s Road, San Gwann, SGN 2805, Malta.



The Transfer Report has been prepared by the board explaining and justifying the legal and economic aspects of the proposed Transfer and explaining the implications of the proposed Transfer for shareholders, creditors and employees.



These documents are available for inspection during normal business hours on any business day until the conclusion of the Extraordinary General Meeting to be convened to approve the Transfer. A shareholder circular and notice of Extraordinary General Meeting will be published by the company in due course in connection with the proposed Transfer.



Copies of the Transfer Proposal, the Transfer Report and the proposed New Articles are also available on the company?s website at www.brait.com.



Please refer to the 14 September 2016 announcement for details of the indicative timing and date of principal events in connection with the proposed Transfer.



Unless otherwise stated, capitalised terms used in this announcement have the same meaning given in the announcement dated 14 September 2016.
14-Sep-2016
(Official Notice)
17-Aug-2016
(Official Notice)
Capitalised terms not otherwise defined in this announcement shall have the meaning given to them in the terms and conditions of the Convertible Bonds (the "Conditions").



The Issuer hereby notifies Shareholders and Bondholders that, as a result of the bonus share issue with cash dividend alternative to Shareholders on Record Date on 12 August 2016 (as announced on 14 June 2016), the Convertible Bond Conversion Price is adjusted from GBP7.9214 to GBP7.8400 in accordance with the Conditions (including, but not limited to, the definition of "Dividend", and Conditions 6(b)(ii), 6(b)(iii) and 6(f)), effective 10 August 2016.



In accordance with Condition 11(xii), the aggregate amounts of cash dividends paid and bonus shares issued used to determine the aforementioned adjustment to the Conversion Price are available on the group website www.brait.com.
16-Aug-2016
(Official Notice)
11-Aug-2016
(Official Notice)
Shareholders are referred to the Company?s audited financial results for the year ended 31 March 2016, released on the website of the Luxembourg Stock Exchange (?Lux SE?) and the Stock Exchange News Service of the Johannesburg Stock Exchange (?JSE?) on 14 June 2016 (the ?Audited Results Announcement?). The bonus share issue with cash dividend alternative proposed by the directors was approved by shareholders at the annual general meeting, as announced on 20 July 2016.



The Audited Results Announcement included the bonus share issue conversion ratio of 0.86394 New Shares for every 100 Brait shares held by shareholders on the Last Day to Trade, being 8 August 2016. Shareholders were further advised that where a shareholder's entitlement to New Shares calculated in accordance with the above formula gives rise to a fraction of an ordinary share, such fraction of an ordinary share will be rounded down to the nearest whole number with the fraction being paid in cash, irrespective of whether the shareholder has completed a cash election form or not. The fraction paid in cash will be deemed a cash dividend and treated as such for tax purposes.



The fraction rate is EUR6.95/ZAR103.44 and has been calculated as the volume weighted average price of a Brait share traded on the Lux SE and JSE on Wednesday, 10 August 2016 (being the day on which the Brait share began trading ?ex? the entitlement to receive the Bonus share issue or cash dividend alternative), discounted by 10% in accordance with Schedule 18 of the JSE listing requirements. A dividend withholding tax of 15% will be applicable to all shareholders who are not exempt from such tax. If dividends tax does apply, then the net fraction rate paid will be EUR5.9075/ ZAR87.9240.
10-Aug-2016
(Official Notice)
Brait released a net asset value (?NAV?) update for the first quarter ended 30 June 2016. Shareholders of the Company are advised that:

- NAV per share decreased by 3.2% to ZAR131.94 for the quarter ended 30 June 2016 (31 March 2016: ZAR136.27 per share).

- NAV per share of ZAR131.94 reflects an increase of 64.2% for the twelve months ended 30 June 2016 (30 June 2015: ZAR80.34 per share) and a three-year CAGR to 30 June 2016 of 67.9%.

- Inclusive of the ordinary share dividends paid to date, the three-year CAGR to 30 June 2016 is 68.2%.

- The impact of the UK referendum vote to leave the European Union resulted in the Pound weakening 7.5% against the Rand from ZAR21.21 at 31 March 2016 to ZAR19.62 at 30 June 2016. Applying an unchanged exchange rate of ZAR21.21 to translate the Company?s GBP denominated assets and liabilities, Brait?s reported NAV per share at 30 June 2016 would be ZAR139.93; an increase of 2.7% for the quarter.



Brait?s valuation policy is to reference the EV/EBITDA valuation multiple on an historical basis for each of its investments to their peer group?s trailing three year average multiple, taking into consideration the peer average spot multiple at reporting date.
20-Jul-2016
(Official Notice)
Shareholders of the company are advised that 73.6% of the total ordinary shares in issue were represented at the Annual General Meeting (?AGM?) of the company held earlier today. All ordinary and special resolutions tabled at the AGM were approved by at least 85.6% of the shares represented at the AGM.



The resolutions tabled included the approval by shareholders of the proposed bonus share issue with a cash dividend alternative as announced on the Luxembourg Stock Exchange and SENS on 14 June 2016, as part of the announcement of the company?s audited results for the year ended 31 March 2016 (?results announcement?). Accordingly, the bonus share issue/cash dividend alternative will proceed as per the timetable set out in the results announcement.



The other resolutions approved were as per the agenda in the AGM notice, with no additional matters tabled at the meeting.



14-Jun-2016
(C)
Investment gains for the year decreased to EUR1.4 billion (EUR1.7 billion). Profit for the year was down to EUR1.5 billion (EUR1.7 billion). In addition, headline earnings per share came in at EUR283cps (EUR332cps).



Preference Dividends

The Group completed the redemption of its 20 million issued preference shares at their deemed issued price of ZAR100.0 per preference share on 18 January 2016. The accrued dividend to this date of ZAR3.02 (ZAR2.57 net of dividend withholding tax) per preference shares was paid and the preference shares were subsequently delisted from both the LuxSE and the JSE.



Bonus Cash Dividend

The Board has proposed a bonus share issue (with a cash dividend alternative) of 1% of NAV equal to 136.27 ZAR cents/7.76 EUR cents.



Group outlook

This has been another productive, return focussed year for Brait. The capital raised from the realisation of Pepkor at the close of FY2015, was effectively deployed during the first half of the current financial year in acquiring New Look and Virgin Active. Recently, at the EMEA Finance's Achievement Awards 2015, held in London, Brait was awarded 'Best Private Equity Investment' for New Look and 'Best M - A Deal' for Virgin Active. Both these assets have produced solid results in their respective financial years and are performing in accordance with the original investment plan. The second half of the year was characterised by (i) the successful debut GBP350 million Convertible Bond issuance, which listed on the Open Market segment of the Frankfurt Stock Exchange in October 2015; and (ii) increasing the shareholding in Iceland Foods to 57%, which resulted in the Group holding majority stakes across its four core investments. Brait continues to explore new pools of capital to enhance its capital structure and ensure that it is well placed for new opportunities to complement its portfolio.

24-May-2016
(Official Notice)
Shareholders of the company are advised that:

Brait?s reported Net Asset Value ("NAV") per share for the year ended 31 March 2016 is anticipated to have increased in Rand by 74% to 80% to between ZAR134.19 and ZAR138.82 (2015: ZAR77.12); and in Euro by 35% to 40% to between EUR8.00 and EUR8.27 (2015: EUR5.92).



The increase in reported NAV per share for the year ended 31 March 2016 is primarily due to:

* Strong operational performance from Brait?s investment portfolio;

* Referencing the 31 March 2016 valuation multiples for the portfolio, with relevant discounts, to their peer group three year trailing average multiples in accordance with Brait?s policy; and

* The positive effect from the strengthening of the GBP against the ZAR over the financial year, when translating Brait?s GBP denominated investments in New Look, Virgin Active and Iceland Foods into the Group?s ZAR presentation currency.



The 31 March 2016 financial results of the company are currently being prepared and are expected to be released on the website of the Luxembourg Stock Exchange and the Stock Exchange News Service of the JSE Ltd. on or about 14 June 2016.
10-Feb-2016
(Official Notice)
29-Jan-2016
(Official Notice)
Brait?s Board of Directors ("Board") has appointed John C. Botts as an Independent non-executive director of the company with effect from 29 January 2016.



Shareholders of the company are advised that Colin Keogh has resigned as a non-executive director from the board with effect from 29 January 2016 for personal reasons.



19-Jan-2016
(Official Notice)
Shareholders are referred to the announcement released on the website of the Luxembourg Stock Exchange (?LuxSE?) and on the Stock Exchange News Service of the JSE Ltd. (?JSE?) on 23 December 2015 regarding Brait?s decision to redeem all of the Company?s preference shares in accordance with the Company?s memorandum of association.



The Board of directors of Brait is pleased to confirm: (i) the payment of a gross cash dividend of ZAR3.02027 (ZAR2.56723 net of dividend withholding tax) per preference share for the period 1 October 2015 to 18 January 2016 (the redemption date); (ii) the completion of the redemption of all of the Company?s 20 million issued preference shares at their Deemed Issue Price of ZAR100.00 per preference share; and (iii) the subsequent delisting of all of the Company?s preference shares from both the LuxSE and the JSE.
23-Dec-2015
(Official Notice)
04-Dec-2015
(Media Comment)
Financial Mail reported that Brait has gained 80% of Virgin active using the funds from the sale of its shares in Pepkor. Brait intends to expand Virgin Active into Kenya and Botswana. These countries have a growing middle class which the group can capture with the Virgin brand. Brait also owns 90% of Premier which produces Iwisa maize mill and Lil-lets feminine products. Premier has made progress in export sales into African countries which rose by 59% this year. Premier's strategy is to make acquisitions in line with the company's fields of expertise. Such acquisitions include feminine products manufacturer La Femme, flour miller Mister Bread Milling and 68.3% of Mozambican food producer Companhia Industrial de Matola. The group hopes to expand into East and West Africa.





01-Dec-2015
(Official Notice)
Shareholders are referred to the announcements released on the website of the Luxembourg Stock Exchange ("LuxSE") and on the Stock Exchange News Service of the JSE Ltd. ("JSE"), on 9 November 2015 regarding the proposed amendment to the Company's memorandum of association ("MOA") to allow for a potential redemption and delisting of the Company's preference shares and authority to buy back up to seventy five percent (75%) of the Company's preference shares.



At the Extraordinary General Meetings ("EGMs") held earlier today, all of the resolutions tabled were passed by the requisite majority of votes cast by both the ordinary and preference shareholders of Brait. Further details of the resolutions can be found in the circular posted to Brait shareholders on 9 November 2015.
19-Nov-2015
(Official Notice)
Shareholders are referred to the announcement released on the website of the Luxembourg Stock Exchange and on the Stock Exchange News Service of the JSE Ltd. on 2 October 2015 regarding Brait?s proposed acquisition of a further 38% of Iceland Foods for GBP172.9 million (?Acquisition?).



The board of directors of Brait confirmed the completion of the Acquisition, which increases Brait?s stake in Iceland Foods to 57%. The founder and management team of Iceland Foods retain 43%.
17-Nov-2015
(C)
Investment gains climbed to EUR1.4 billion (EUR82 million). Profit for the period soared to EUR1.3 billion (2014: EUR99 million). Furthermore headline earnings per share rose to EUR253cps (2014: EUR18 cps).



Preference dividend declared

The Board declared on 6 November 2015 an interim preference dividend of ZAR4.8723/EUR0.321133 per share for the six months ended 30 September 2015. The issued cumulative, non-participating preference share capital at the date of this declaration is 20,000,000 preference shares of EUR0.01 each. A separate announcement setting out the salient dates was released to the market on Monday, 9 November 2015.



Group outlook

*New Look has seen strong trading across all its channels, providing momentum to further develop and deploy its five pillar strategy in a disciplined and sustainable manner in order to facilitate strong growth whilst maintaining focus on its existing operations;

*Virgin Active's solid performance for the 9 month period ending 30 September 2015 is characterised by continued revenue management and margin enhancement. The new club rollout pipeline, UK premiumisation programme and acquisition opportunities together provide a strong growth platform;

*Premier produced another strong set of results for its financial year ended 30 June 2015 (EBITDA has grown by an average of 40% per annum since FY11) and continues to deliver on its strategy of brand building, through producing consistent quality and product innovation as well as operational efficiencies. Including the acquisition of CIM, Premier's EBITDA is in excess of ZAR1 billion and its core brands are well positioned to compete in their respective markets;

*Iceland Foods continues to generate strong cash flows, remaining competitive on price, whilst driving innovation and the Power of Frozen to differentiate its product offering. Brait is excited about increasing its shareholding to 57% and partnering alongside Iceland Food's founder and management team in taking the business into its next chapter.

09-Nov-2015
(Official Notice)
09-Nov-2015
(Official Notice)
Shareholders of the company are advised that:

Brait?s reported Net Asset Value ("NAV") per share at 30 September 2015 is anticipated to be in the range of EUR7.81 and EUR8.05; which expressed in Rand is between ZAR120.90 and ZAR124.68. In percentage terms, this increase in reported NAV per share represents:

*For the 12 months ended 30 September 2015, an increase in the range of 220% to 230% in EURO (30 September 2014: EUR2.44) and in Rand by 248% to 259% (30 September 2014: ZAR34.75);

*For the six months ended 30 September 2015, an increase in the range of 32% to 36% in EURO (31 March 2015: EUR5.92) and in Rand by 57% to 62% (31 March 2015: ZAR77.12).



The increase in reported NAV per share is primarily due to:

*The disposal of Brait?s investment in Pepkor during March 2015;

*The strong operational performance from both Premier and Brait?s recently acquired investments in New Look and Virgin Active;

* Referencing the 30 September 2015 valuation multiple for New Look and Virgin Active, with relevant discounts, to their peer group three year trailing average multiples in accordance with Brait?s policy; and

*The positive effect from the strengthening of the GBP against the Company?s EURO and ZAR presentation currencies, when translating at 30 September 2015, Brait?s GBP denominated investments in New Look, Virgin Active and Iceland Foods.



The financial information on which this trading statement is based has not been reviewed and reported on by the Company?s external auditors. The 30 September 2015 interim financial results of the Company are currently being prepared and are expected to be released on the website of the Luxembourg Stock Exchange and the Stock Exchange News Service of the JSE Limited on or about 17 November 2015.
02-Oct-2015
(Official Notice)
11-Sep-2015
(Official Notice)
11-Sep-2015
(Official Notice)
05-Aug-2015
(Official Notice)
22-Jul-2015
(Official Notice)
Shareholders of the Company are advised that 73.9% of the total ordinary shares in issue were represented at the Annual General Meeting ("AGM") of the Company held earlier today. All ordinary and special resolutions tabled at the AGM were approved by at least 97.4% of the shares represented at the AGM.



The resolutions tabled included the approval by shareholders of the proposed bonus share issue with a cash dividend alternative as announced on the Luxembourg Stock Exchange and SENS on 17 June 2015, as part of the announcement of the Company's audited results for the year ended 31 March 2015 ("results announcement"). Accordingly, the bonus share issue/cash dividend alternative will proceed as per the timetable set out in the results announcement.



The other resolutions approved were as per the agenda in the AGM notice, with no additional matters tabled at the meeting.

16-Jul-2015
(Official Notice)
Brait shareholders are referred to the announcement released on the website of the Luxembourg Stock Exchange and on the Stock Exchange News Service of the JSE Ltd. on 16 April 2015 in terms of which Brait?s wholly owned subsidiary, Brait Mauritius Ltd., entered into a conditional agreement, primarily with Darwin Holdings, a wholly owned subsidiary of funds managed and advised by CVC Capital Partners, and Virgin Group Holdings Ltd., to acquire a c.80% interest in Virgin Active (?the Acquisition?) for c.GBP691 million.



The board of directors of Brait confirmed the completion of the Acquisition. The family interests of Sir Richard Branson and the existing Virgin Active management will hold the remaining c.20%.
26-Jun-2015
(Official Notice)
Brait shareholders are referred to the announcement released on the website of the Luxembourg Stock Exchange and on the Stock Exchange News Service of the JSE Ltd. on 15 May 2015 regarding Brait's proposed acquisition of a c.90% stake in the New Look Retail Group Ltd. ("New Look" or "the Company") ("New Look Acquisition"). The board of directors of Brait confirmed the completion of the New Look Acquisition. The New Look founder's family interests and the current management of the Company have acquired the remaining c.10%.



Furthermore, New Look announced the successful conclusion of its debt refinancing, which optimises its capital structure, reduces costs, extends maturities to 2022 and eliminates the Company?s former PIK loans. In total, New Look Secured Issuer plc has issued GBP700 million aggregate principal amount of 6.5% Senior Secured Notes due 2022 and EUR415 million aggregate principal amount of Floating Rate Senior Secured Notes due 2022, and New Look Senior Issuer plc has issued GBP200 million aggregate principal amount of 8.0% Senior Notes due 2023. Interest on the Floating Rate Senior Secured Notes accrues at three-month EURIBOR plus 4.50%.
17-Jun-2015
(C)
01-Jun-2015
(Official Notice)
Notice is hereby given that the Directors have declared an interim gross cash dividend of ZAR479.68 cents (ZAR407.728 cents net of dividend withholding tax) per preference share for the period from 1 October 2014 to 31 March 2015.



A dividend withholding tax of 15% will be applicable to all shareholders who are not exempt from such tax. As at the date of this announcement, the issued share capital comprises 516 489 969 ordinary shares of EUR0.22 each and 20 000 000 cumulative, non- participating preference shares of EUR0.01 each.



The salient dates for the preference share dividend will be as follows:

* Last day of trade to receive a dividend : Friday, 19 June 2015

* Shares commence trading "ex" dividend : Monday, 22 June 2015

* Record date : Friday, 26 June 2015

* Payment date : Monday, 29 June 2015



Share certificates may not be dematerialised or rematerialised between Monday, 22 June 2015 and Friday, 26 June 2015, both days inclusive. Shareholders registered on the Luxembourg register who prefer their dividends to be paid in Euro, are advised to inform their participants accordingly and provide their banking details to their participants by the required deadline in terms of their agreements entered into with their participants.



Shareholders who receive their dividends in Euro are advised that the dividend is EUR35.9842 cents per share, and has been determined using the Euro/Rand exchange rate in Malta at 12:00 on 29 May 2015. Group audited results for the year ended 31 March 2015 will be released on Wednesday 17 June 2015.
15-May-2015
(Official Notice)
Shareholders in Brait (?Shareholders?) are advised that Brait?s wholly owned subsidiary, Brait Mauritius Limited, has entered into an agreement to acquire a c.90% interest in New Look Retail Group Ltd. (?New Look? or ?the Company?) for c.GBP780 million, primarily from funds advised by Permira and Apax (?the Acquisition?).



Summary of the key terms of the Acquisition

Brait will acquire a c.90% interest in New Look, primarily from funds advised by Permira and Apax. The founder?s family interests and the existing management team will be reinvesting alongside Brait for c.10% shareholding.



The Acquisition values New Look at an enterprise value of c.GBP1.9 billion. The estimated consideration payable by Brait of c.GBP780 million for a c.90% interest takes into account estimated transaction costs, but may be adjusted up or down depending on actual transaction costs (?Purchase Consideration?). Brait will fund the Purchase Consideration using facilities and cash on hand.



New Look has net financial debt of c.GBP1 billion. Brait and management are comfortable with the Company?s current leverage ratio given its strong cash flow generation. Subject to market conditions, the Company will review financing alternatives in order to optimise the capital structure within a similar leverage range.



Conditions precedent

The Acquisition is not subject to any regulatory approvals. The completion date for the Acquisition is 25 June 2015.
05-May-2015
(Official Notice)
Brait?s Net Asset Value ("NAV") per share for the year ended 31 March 2015 is anticipated to have increased in Euro by 165% to 175% to between EUR5.83 and EUR6.05 (2014: EUR2.20), and in Rand by 135% to 145% to between ZAR75.08 and ZAR78.28 (2014: ZAR31.95). The increase in NAV per share is primarily attributed to the disposal of Brait?s effective 37.06% interest in Pepkor Holdings (Pty) Ltd. to Steinhoff International Holdings Ltd. on 30 March 2015.



The financial results of the Company for the year ended 31 March 2015 are currently being prepared and are expected to be released on the Luxembourg Stock Exchange and the JSE Stock Exchange News Service on or about 17 June 2015.
16-Apr-2015
(Official Notice)
02-Apr-2015
(Official Notice)
Shareholders are advised that Brait has entered into negotiations which, if successfully concluded may have a material effect on the price of the Company's securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company's securities until a further announcement is made.
31-Mar-2015
(Official Notice)
Further to the Extraordinary General Meeting results announcement released on the website of the Luxembourg Stock Exchange and on the Stock Exchange News Service of the JSE Limited on 27 January 2015, Brait shareholders are advised that all conditions precedent to the disposal of Brait's effective 37.06% interest in Pepkor Holdings Proprietary Limited to Steinhoff International Holdings Limited ("Steinhoff") have been fulfilled. The effective date of the transaction was Monday, 30 March 2015.



Brait received a total disposal consideration comprising of 200 million Steinhoff ordinary shares and R15,086 million in cash (which includes the purchase price escalation calculated from 1 March 2015).

23-Feb-2015
(Official Notice)
Shareholders of the Company were advised that Richard John Koch has resigned from Brait?s Board of Directors (?Board?) with effect from 19 February 2015 for personal reasons. Richard had been a member of the Board since the Company?s listing in 1998. The Board would also like to announce the appointment of Mr Alan Steven Jacobs as an independent Non-Executive Director of the Company with effect from 19 February 2015.
04-Feb-2015
(Official Notice)
27-Jan-2015
(Official Notice)
Shareholders are referred to the announcements released on the website of the Luxembourg Stock Exchange (?LuxSE?) and on the Stock Exchange News Service of the JSE Limited, on 25 November 2014 and 12 December 2014, regarding the proposed acquisition by Steinhoff International Holdings Limited of Brait?s effective 37.06% interest in Pepkor Holdings Proprietary Limited (?Brait Transaction?).



At the Extraordinary General Meeting (?EGM?) of Brait shareholders held earlier today, the ordinary resolutions (?Resolutions?) necessary to authorise the Brait Transaction were duly passed, without amendment, by the requisite majority of votes. The Company is pleased to announce that the Resolutions were passed by a 99.8% majority of Brait shareholders present and voting at the EGM, whether in person or by proxy. Further details of the Resolutions can be found in the circular posted to Brait shareholders on 12 December 2014 (?the Circular?).



As noted in the Circular, Dr. CH Wiese is a director of Brait and a beneficiary of trusts which hold an interest in the Company, via Titan Premier Investments Proprietary Limited (?Titan?). In the interests of good corporate governance, Titan voluntarily undertook not to exercise its voting rights in respect of the Resolutions proposed at the EGM. Similarly, voting rights attached to Brait shares held in treasury were also not exercised at the EGM.

12-Dec-2014
(Official Notice)
27-Nov-2014
(Media Comment)
Business Day reports that Brait plans to invest the capital gained from its Pepkor sale in acquisitions in SA and Europe in the next year and a half. CEO John Gnodde said that by investing the capital from the sale it will generate better returns rather than declaring a special dividend. Approval of the Pepkor deal will mean that Brait's main investments will include Premier Foods, Steinhoff an Iceland Foods.
25-Nov-2014
(Official Notice)
03-Nov-2014
(Official Notice)
Further to the cautionary announcement released on SENS and on the website of the Luxembourg Stock Exchange on 19 September 2014, shareholders are advised that Brait is still in negotiations which, if successfully concluded, may have a material effect on the price of the Company's securities. Accordingly, shareholders are advised to continue to exercise caution when dealing in the Company's securities.
22-Oct-2014
(C)
Investment gains lowered to EUR82 million (2013: EUR104 million). Profit for the period was lower at EUR99 million (2013: EUR111 million). Furthermore, headline earnings per share came in at EUR18cps (2013: EUR20cps).



Preference dividend

The Directors have declared on 16 October 2014 an interim preference dividend of ZAR474.696cps/EUR33.3052cps for the six months ended 30 September 2014.



Group outlook

* Pepkor produced a strong set of FY2014 results given the prevailing economic environment: South Africa is the group's underpin with its significant footprint and product offering aimed at customers in the lower Living Standards Measures (LSM's); Eastern Europe continues its aggressive store roll-out adding 102 retail stores (23% growth) during the year in Poland and neighbouring countries; Africa generated strong growth in sales (up 40%) and improved margins; Australia remains a challenging environment given the poor state of the lower-end discretionary retail market. A number of significant changes have been made and early signs of their positive impact are visible as progress is made on Australia's three-year plan;

* Premier traded well in its FY2014 delivering on its strategy of operational efficiencies and consistent quality which enhanced margins on its core staples business. The acquisitions completed during the year have been integrated and the business starts its FY2015 well placed to leverage these higher margin products across its deep distribution platform;

* Iceland Foods continues to generate strong cash flows and management is alert and proactive in dealing with the challenging UK environment.



The defensive nature of the portfolio continues to be borne out and enhanced through the generation of strong cash flow and growing geographic spread. A cautionary announcement was released to the market on 19 September 2014. The Group continues to trade under the cautionary announcement as at the reporting date.
19-Sep-2014
(Official Notice)
Shareholders are advised that Brait has entered into negotiations which, if successfully concluded, may have a material effect on the price of the Company's securities.



Accordingly, shareholders are advised to exercise caution when dealing in the Company's securities.
23-Jul-2014
(Official Notice)
Shareholders of the Company are advised that:



*NAV per share increased by 4.0% to R33.23 for the quarter ended 30 June 2014 (31 March 2014: R31.95 per share).

*NAV per share of R33.23 reflects an increase of 19.3% for the twelve months ended 30 June 2014 (30 June 2013: R27.86 per share) and a three-year CAGR to 30 June 2014 of 23.1%.

*Inclusive of the ordinary share dividends paid to date, the three-year CAGR to 30 June 2014 is 23.7%.

*Valuation multiples for Brait?s investments remain unchanged.

*Pepkor?s carrying value increased by 2.2% for the quarter attributable to continued strong trading and resulting growth in EBITDA and cash flow generation. Pepkor paid a dividend of R615 million during the quarter of which Brait?s share was R228 million. Pepkor?s carrying value adjusted for these realized proceeds increased by 4.2% for the quarter.

*Premier Group?s carrying value increased by 4.7% for the quarter with its core business generating solid growth in EBITDA and cash flow. The Lil-lets and Star Bakeries acquisitions continue to be recognised at cost. Brait?s accounts receivable balance includes the R330 million scheduled loan repayment which is expected to be received from Premier Group during the next quarter.

*Whilst the UK retail market remains challenging, Iceland Food?s cash generation remains on plan. Taking into account the positive effect of the Rand/GBP exchange rate weakening from R17.55 at 31 March 2014 to R18.19 at 30 June 2014, the carrying value in Rand terms increased by 3.2% for the quarter.

*The increase in Brait?s cash during the quarter is attributable to the net effect of the dividend received from Pepkor less the R90m dividend paid to Brait?s preference shareholders on 23 June 2014. The Company remains adequately capitalised with sufficient available cash and facilities for future investment. Alternative sources of funding to enhance flexibility and efficiency continue to be explored.

*Operating costs for the Company remain in line with previously communicated performance targets.

16-Jul-2014
(Official Notice)
Shareholders of the Company are advised that all ordinary and special resolutions tabled at the Annual General Meeting ('AGM') of the Company held earlier today were approved by the requisite majority of votes.



The resolutions tabled included the approval by shareholders of the proposed bonus share issue with a cash dividend alternative as announced on the Luxembourg Stock Exchange and SENS on 4 June 2014, as part of the announcement of the Company?s audited results for the year ended 31 March 2014 ("results announcement"). Accordingly, the bonus share issue/cash dividend alternative will proceed as per the timetable set out in the results announcement. Resolutions approved were as per the agenda in the AGM notice, with no additional matters tabled at the meeting.
04-Jun-2014
(C)
29-May-2014
(Official Notice)
Notice is hereby given that the Directors have declared an interim gross cash dividend of ZAR449.34 cents (ZAR381.939 cents net of dividend withholding tax) per preference share for the period from 1 October 2013 to 31 March 2014.



A dividend withholding tax of 15% will be applicable to all shareholders who are not exempt from such tax.



The issued ordinary share capital at the date of this announcement is 513 632 676 ordinary shares of EUR0.22 each and 20 000 000 cumulative, non- participating preference shares of EUR0.01 each.



The salient dates for the preference share dividend will be as follows:

Last day of trade to receive a dividend -- Thursday, 12 June 2014

Shares commence trading "ex" dividend -- Friday, 13 June 2014

Record date -- Friday, 20 June 2014

Payment date -- Monday, 23 June 2014



Share certificates may not be dematerialised or rematerialised between Friday, 13 June 2014 and Friday, 20 June 2014, both days inclusive.



Shareholders registered on the Luxembourg register who prefer their dividends to be paid in Euro, are advised to inform their participants accordingly and provide their banking details to their participants by the required deadline in terms of their agreements entered into with their participants.



Shareholders who receive their dividends in Euro are advised that the dividend is 31.5439 Euro cents per share, and has been determined using the Euro/Rand exchange rate in Malta at 12:00 on 27 May 2014.



Group audited results for the year ended 31 March 2014 will be released on Wednesday 4 June 2014.
22-Jan-2014
(Official Notice)
29-Oct-2013
(C)
Investment gains for the interim period fell to EUR85 million (EUR110 million). Net attributable profit was lower at EUR93 million (EUR117 million). In addition, headline earnings on a per share basis fell to EUR17cps (EUR23cps).



Dividends

No interim ordinary dividend has been declared. However, the directors have declared on 24 October 2013 an interim preference dividend of R4.4321/EUR0.328723 per share for the six months ended 30 September 2013.



Outlook

Pepkor continues to perform well by leveraging off its strong brands and extensive distribution platform. The Premier Group has improved its operational efficiencies while widening its product offering through acquisitive growth. Iceland Foods continues to perform according to plan. The defensive nature of the portfolio continues to be borne out and enhanced by the strong cash generation and growing geographic spread.
09-Oct-2013
(Official Notice)
Shareholders are advised that Premier, Brait's portfolio company, has entered into a transaction to acquire the entire issued share capital of LGL from Electra Private Equity PLC and others ("the acquisition").



LGL is a leading branded feminine hygiene business and offers a complete portfolio of feminine hygiene products under one brand. The business occupies strong market positions in South Africa and the UK, supported by a trusted brand and an innovative approach to new product development.



This acquisition presents Premier with an opportunity to broaden and grow its offering in the South African and African FMCG market and include another renowned brand in its portfolio.



The acquisition is subject to regulatory approvals in South Africa.



Shareholders are advised that Brait will provide further information on the acquisition once it has been completed.
23-Jul-2013
(Official Notice)
Shareholders of the company are advised that:

*NAV per share as at 30 June 2013 increased by 4.6% to R27.86 for the quarter (31 March 2013:R26.64 per share);

*Total NAV increased by R615 million to R14.073 billion (31 March 2013: R13.458 billion);

*Pepkor continues its strong trading resulting in a 4.5% increase in carrying value for the quarter;

*Premier Foods valuation increased by 23.3% as a result of an increase in shareholder funding advanced by the company to fund acquisitive growth;

*Iceland Foods valuation increased by 15.3%, resulting from strong cash flow generation (8% increase in GBP carrying value) and the weakening of the GBP/Rand exchange rate from R14.04 to R15.03;

*Valuation multiples for these investments remain unchanged;

*The company had a successful preference share tap issue by way of private placement to select investors and raised R500 million on 25 June 2013. The proceeds were used to settle borrowings and most of the balance applied to acquisition funding for Premier Foods; and

*Operating costs of the company remain in line with performance targets.
17-Jul-2013
(Official Notice)
Shareholders of the company were advised that all ordinary and special resolutions tabled at the annual general meeting ("AGM") of the company were approved by the requisite majority of votes. Resolutions approved were as per the agenda in the AGM notice, with no additional matters tabled at the meeting.
24-Jun-2013
(Official Notice)
Following the successful placement of 15 million cumulative, non- participating preference shares ("Preference Shares") on 6 August 2012 for an aggregate issue price of R1.5 billion, the Directors of Brait ("Directors") advised Brait shareholders of a private placement of the remaining 5 million authorised, unissued Preference Shares ("the Tap Issue:).



The Tap Issue will take place, by way of private placement to select investors, on the same terms as the existing Preference Shares with a nominal value of Euro 0.01 each, at par value of R100 for an aggregate amount of R500 million. The issue at par value represents an approximate discount of 2.5% to the closing market price on 21 June 2013. Such Tap Issue completes the 20 million preference share program authorised at the Extra-ordinary General Meeting held on 25 July 2012. The Tap Issue will enable the Company to settle its existing borrowings in full, invest in opportunities identified in its existing platform investments, whilst retaining cash and borrowing facilities of at least R2.7 billion for future investment opportunities.



Investors that participated via the private placement process have been advised of their final allocations. The current 15 million Preference Shares will be increased by the above- mentioned 5 million to be issued on 25 June 2013, and the entire 20 million will trade on the Euro MTF market under the abbreviation "BRAITPRF" with common code 081058172 and ISIN number MT0000680208, and the securities exchange operated by the JSE Ltd. under the abbreviated name "BRAIT PREF" and with alpha code "BATP" in the "Specialist Securities" - Preference Share sector of the market, and will commence trading on Tuesday, 25 June 2013. All Preference Shares will continue to be accepted for clearance and settlement on the LuxSE through the facilities of Clearstream and Euroclear.
24-Jun-2013
(Official Notice)
Shareholders are referred to the Company's annual results announcement released on the Luxembourg Stock Exchange ("LuxSE") and the Stock Exchange News Service of the Johannesburg Stock Exchange ("JSE") on 5 June 2013 ("the results announcement") relating to the Bonus Share Issue and Cash Dividend Alternative.



The number of new, fully-paid, ordinary Brait shares with a par value of EUR0.22 ("New Shares") to which shareholders will be entitled pursuant to the Bonus Share Issue will be determined by such shareholder's shareholding in Brait as of 2 August 2013 ("Record date") in relation to the ratio that 26.64 ZAR cents (2.12 Euro cents) bears to ZAR35.29, being the 60-day volume weighted average price ("VWAP") of ordinary Brait shares on the LuxSE and the JSE during the trading period ending on Friday 31 May 2013. This conversion ratio amounts to 0.75489 New Shares per 100 Brait shares held by the shareholder at the Record date.



Fractions and fractional entitlements are not possible due to various corporate law and listings requirements. Accordingly, where a shareholder's entitlement to New Shares calculated in accordance with the above formula gives rise to a fraction of an ordinary share, such fraction of an ordinary share will be rounded up to the nearest whole number where the fraction is greater than or equal to 0.5 and rounded down to the nearest whole number where the fraction is less than 0.5.



A circular and form of election, containing full details of the Bonus Share Issue and Cash Dividend Alternative will be posted to shareholders on Monday, 24 June 2013, together with the Annual Report and notice of annual general meeting containing the proposed resolutions necessary for the implementation of the Bonus Share Issue and Cash Dividend Alternative. The salient dates contained in the results announcement remain unchanged.
05-Jun-2013
(C)
Investment gains for year to March 2013 declined to EUR246 million (EUR251 million). Net attributable profit increased to EUR275 million (EUR255 million). Net asset value per share was higher at EUR225cps (EUR201cps). In addition, headline earnings on a per share basis remained stable at EUR53cps (EUR53cps).



Dividend

The board has proposed a bonus share issue of new, fully paid, ordinary Brait shares with a par value of EUR0.22 each ("new shares") in proportion to shareholders' shareholding in Brait, payable to shareholders recorded in the register on the Friday, 2 August 2013 (the "bonus share issue"). Shareholders will be entitled, in respect of all or part of their shareholding as of the record date (Friday, 2 August 2013), to elect to receive a cash dividend of ZAR26.64cps/EUR2.12cps (the "cash dividend alternative") held in lieu of all or part of the new share to which they would have been entitled, which will be paid only to those shareholders whose election forms to receive the cash Dividend Alternative, in respect of all or part of their shareholding are received by the transfer secretaries on or before 12:00 pm on Friday, 2 August 2013. The bonus share issue and cash dividend alternative are, however, subject to shareholder approval at the company's AGM on 17 July 2013.



Annual general meeting

The company's annual general meeting will be held on 17 July 2013.



Outlook

The defensive nature of Brait's portfolio underpinned by strong cash generation, significant investment by portfolio companies and growing geographic diversity ensures that the business is well positioned with a strong balance sheet in a challenging macro environment.
29-May-2013
(Official Notice)
Notice was given that the Directors have declared an interim gross cash dividend of 440.79 ZAR cents (374.6715 ZAR cents net of dividend withholding tax) per preference share for the period from 1 October 2012 to 31 March 2013. A dividend withholding tax of 15% will be applicable to all shareholders who are not exempt from such tax. The salient dates for the preference share dividend will be as follows:

*Last day of trade to receive a dividend -- Thursday, 13 June 2013

*Shares commence trading "ex" dividend -- Friday, 14 June 2013

*Record date -- Friday, 21 June 2013

*Payment date -- Monday, 24 June 2013



Share certificates may not be dematerialised or rematerialised between Friday, 14 June 2013 and Friday, 21 June 2013, both days inclusive. Shareholders registered on the Luxembourg register who prefer their dividends to be paid in Euro, are advised to inform their participants accordingly and provide their banking details to their participants by the required deadline in terms of their agreements entered into with their participants. Shareholders who receive their dividends in Euro are advised that the dividend is EUR35.0883 cents per share, and has been determined using the euro/rand exchange rate in Malta at 12:00 on 28 May 2013.
24-Apr-2013
(Official Notice)
Shareholders of the company are advised that:

*Brait's net asset value ("NAV") per share as at 31 March 2013 is anticipated to increase by 28% to 30% to between R26.40 and R26.70 (2012: R20.59); and

*Headline earnings per share ("HEPS") normalised for total shares outstanding as at 31 March 2013, instead of the weighted average number of shares for the financial year, is expected to increase by 29% to 36% to between R5.59 and R5.90 per share (2012: R4.33).



The financial results of the company for the year ended 31 March 2013 are currently being prepared and are expected to be released on the Luxembourg Stock Exchange and SENS on or about 5 June 2013. Shareholders are further advised that Rita Schembri has resigned from the Brait board of directors with effect from 19 April 2013 for personal reasons.
23-Jan-2013
(Official Notice)
Shareholders of the company were advised that:

*NAV per share increased by 7.3% to R24.70 for the quarter ended 31 December 2012 (30 September 2012:R23.01 per share).

*Total NAV for the group increased by R856 million for the three months to R12.480 billion (30 September 2012: R11.624 billion).

*NAV per share of R24.70 increased by 28.6% for the twelve months ended 31 December 2012 (31 December 2011: R19.21 per share).

*The group's three main investments, namely Pepkor, Premier Foods and Iceland Foods continue to trade well resulting in carrying values for the quarter under review increasing by 10%, 5% and 11% respectively.

*The above changes in carrying values are a result of operational performance and cash generation with no adjustment to the valuation multiples.

*The balance of the group's portfolio is also performing to expectations.

*Besides paying the first dividend to the preference shareholders, there were no other material cash events for the period under review. The group is in a net cash position and has R2.8 billion in cash and undrawn facilities available for new investments.

*Operating costs for the group remain in line with previously communicated performance targets.
31-Oct-2012
(C)
A net attributable profit of EUR117 million (EUR144 million) was made. Headline earnings per share fell to EUR23cps (EUR34cps).



Dividend

No ordinary dividend has been declared, but a gross interim preference dividend of ZAR135.63cps has been declared.



Outlook

The defensive nature of the portfolio has enabled strong growth in a tough macro environment. The directors believe that the business is well positioned on the back of a strong portfolio and a robust balance sheet.
31-Jul-2012
(Official Notice)
The directors of Brait ("directors") advised Brait shareholders of the results of the offer to select investors via a private placement, to subscribe for cumulative, non-participating, preference shares with a nominal value of EUR0.01 each ("preference shares"), the terms of which were outlined in the abridged pre-listing statement dated 30 July 2012 ("Offer for Subscription").



The Offer for Subscription was expected to raise approximately R1 billion to R1.5 billion, subject to investor demand. The directors reported that Brait received applications to subscribe for preference shares in terms of the offer for Subscription in excess of R2 billion.



Consequent upon its current capital requirements, Brait has elected to accept Offers for Subscription for an aggregate amount of R1.5 billion in terms of this initial issuance. Such issuance will enable the company to settle its existing borrowings with the proceeds of the preference share issue in full, whilst retaining cash and borrowing facilities of at least R2.5 billion for future investment opportunities.



Investors that participated via the private placement process have been advised of their final allocations. Brait will therefore issue 15 million preference shares, at an issue price of R100.00 each. This will result in an issuance of R1.5 billion.



The preference shares will be admitted to the official list of the Luxembourg Stock Exchange ("LuxSE") to be traded on the Euro MTF market under the abbreviation ?BRAITPRF? with common code 081058172 and ISIN number MT0000680208, and the securities exchange operated by the JSE Ltd. under the abbreviated name "BRAIT PREF" and with alpha code "BATP" in the "Specialist Securities" - Preference Share sector of the market, and will commence trading on Monday, 6 August 2012. The preference shares have been accepted for clearance and settlement on the LuxSE through the facilities of Clearstream and Euroclear.
30-Jul-2012
(Official Notice)
Brait issued a pre-listing statement on Monday 30 July 2012, ("pre-listing statement") relating to the listing of the preference shares on the official list of the LuxSE to be traded on the Euro MTF under the abbreviation BRAITPRF, ISIN number MT0000680208 and common code 081058172 and on the JSE under the share code "BATP" with abbreviated name "BRAIT PREF" in the "Specialist Securities - Preference Shares" sector. The listing of cumulative, non-participating preference shares with a nominal value of EUR0.01 each in the share capital of Brait on the LuxSE and the JSE will take place with effect from the commencement of business on Monday, 6 August 2012.
25-Jul-2012
(Official Notice)
Further to the announcements released on SENS on 22 June 2012 and 3 July 2012, shareholders are advised that at the AGM and EGM of the company held on 25 July 2012 all the resolutions were passed by the requisite majority of votes.



Shareholders are advised that due to an oversight in the type-setting of the circular to shareholders for the EGM, the dates in clauses 9.4.2 and 9.4.3 of the revised Memorandum and Articles of Association pursuant to resolution 1 at the EGM are respectively 31 December 2512 and 1 January 2513 rather than 31 December 2012 and 1 January 2013. These errors were resolved at the EGM.
19-Jul-2012
(Official Notice)
Shareholders of the company were advised that:

*NAV per share as at 30 June 2012 increased by 5.2% to R21.66 (31 March 2012: R20.59 per share).

*Total NAV increased by R536 million to R10.857 billion (31 March 2012: R10.321 billion).

*Pepkor valuation increased by 5.2% on the back of continued strong operational performance.

*Premier Foods valuation increased by 6.2% reflective of the improvement in performance during the second half of its 2012 financial year.

*Iceland Foods valuation increased by 10.3%, resulting from strong cash flow generation and the weakening of the rand.

*The movement in the above carrying values is a result of operational performances with no change to the valuation multiples.

*The balance of the portfolio is performing to expectations.

*The group cash position remains well managed at R509 million.

*Operating costs remain under control and in line with performance targets.



Listed perpetual preference shares

In the circular to shareholders issued on 3 July 2012 (refer to www.Brait.com), the company expressed its intention to enter into a new capital raising programme, without causing dilution to its ordinary shareholders. At the extraordinary general meeting to be held on 25 July 2012, the company will seek permission from its shareholders to create capacity for a R2 billion listed perpetual preference share programme. Initial issuances will be utilized to repay the group's existing borrowings to minimize the level of uninvested capital. The balance of the issuances over the next 18-24 months, together with the borrowing facilities then unutilized, will give the group capacity for new investments of up to R2.5 billion. Aligned to Brait's growth strategy, the proposed capital raising provides the following benefits:

*Diversified, cost-efficient permanent capital;

*Further strengthens the company's existing capital base;

*Effectively lowers the company's cost of capital; and

*Non-dilutionary for ordinary shareholders.



The investment environment remains opportunistic with the investment team focused on selecting only unique opportunities that will enhance shareholder value.
03-Jul-2012
(Official Notice)
22-Jun-2012
(Official Notice)
Shareholders were referred to the annual results announcement released on SENS on 6 June 2012 ("the results announcement") relating to the bonus share issue and cash dividend alternative. The number of Brait new shares ("new shares") to which shareholders will be entitled pursuant to the bonus share issue will be determined by such shareholder's shareholding in Brait as of 10 August 2012 ("record date") in relation to the ratio that 20.59 cents (2.13 Euro cents) bears to R22.62 cents, being the 60-day volume weighted average price ("VWAP") of ordinary Brait shares on the Luxembourg Stock Exchange and the Johannesburg Securities Exchange during the trading period ending on Monday 4 June 2012. This conversion ratio amounts to 0.91026 per every 100 Brait shares held by the shareholder at the record date.



Fractions and fractional entitlements are not possible due to various corporate law and listings requirements. Accordingly, where a shareholder's entitlement to new shares calculated in accordance with the above formula gives rise to a fraction of an ordinary share, such fraction of an ordinary share will be rounded up to the nearest whole number where the fraction is greater than or equal to 0.5 and rounded down to the nearest whole number where the fraction is less than 0.5.



The related circular and form of election, containing full details of the bonus share issue and cash dividend alternative will now be posted to shareholders on Tuesday, 3 July 2012, together with the annual report (and notice of AGM containing the proposed resolutions necessary for the implementation of the bonus share issue and cash dividend alternative) instead of 22 June 2012, as was previously indicated in the results announcement. The rest of the salient dates contained in the results announcement remain unchanged.
06-Jun-2012
(C)
Brait changed its reporting currency from Us dollars to euros. Investment gains for the year increased more than eight-fold to EUR251 million (EUR28 million). Net attributable profit soared to EUR255 million (EUR18 million). In addition, headline earnings more than tripled to EUR53cps (EUR16cps).



Dividend

The board of directors has proposed a final dividend distribution of 20.59 cents or EUR2.13 cents (equivalent to 1% of Brait's NAV per share at 31 March 2012), for the financial year ended 31 March 2012. The dividend will be by way of a bonus share issue of new, fully paid, ordinary Brait shares with a par value of EUR0.22 each ("new shares") in proportion to shareholders' shareholding in Brait, payable to shareholders recorded in the register on the Friday 10 August 2012 (the "bonus share issue").



Shareholders will be entitled, in respect of all or part of their shareholding as of the record date (10 August 2012), to elect to receive a cash dividend of 20.59 cents or EUR2.13 cents per ordinary share (the "cash dividend alternative") held in lieu of all or part of the bonus share issue to which they would have been entitled, which will be paid only to those shareholders whose election forms to receive the cash dividend alternative, in respect of all or part of their shareholding are received by the transfer secretaries on or before 12:00 pm on Friday, 10 August 2012.



Outlook

The directors believe that this has been a momentous year for Brait capped by the strong financial results. The group has successfully transitioned to the new business model and is well positioned for the future.
29-May-2012
(Official Notice)
Further to the trading statement released on the Luxembourg Stock Exchange and SENS on 24 April 2012, shareholders of the company are advised that:

*Brait's net asset value ("NAV") per share as at 31 March 2012 is anticipated to be R20.59.

*Final proposed bonus share dividend (with a cash alternative) is anticipated to be 20.59 cents per share.

*Headline earnings per share ("HEPS") are anticipated to be R5.45.

*Normalised HEPS are anticipated to be R4.33.

*Earnings per share are anticipated to be R6.54.

*This measure is HEPS normalised for total shares outstanding at 31 March 2012, instead of the weighted average number of shares for the financial year.



The financial results of the company for the year ended 31 March 2012 are currently being prepared and are expected to be released on the Luxembourg Stock Exchange and SENS on 6 June 2012.
24-Apr-2012
(Official Notice)
Shareholders of the company are advised that:

*Brait's NAV per share as at 31 March 2012 is anticipated to increase by 60% to 62% to between R20.45 and R20.65 (2011: R12.78). This represents a 24% to 25% increase on the R16.50 NAV per share when the rights offer and private placement capital raising was concluded on 4 July 2011;

*Earnings per share and headline earnings per share ("HEPS") are anticipated to increase by 320% to 340% to between R5.30 and R5.50 per share (2011: R1.25); and

*HEPS normalised for total shares outstanding at 31 March 2012, instead of the weighted average number of shares for the financial year, is expected to increase by 245% to 265% to between R4.20 and R4.40 per share (2011: R1.21).



The financial results of the company for the year ended 31 March 2012 are currently being prepared and are expected to be released on the Luxembourg Stock Exchange and SENS on or about 6 June 2012.
02-Apr-2012
(Official Notice)
At the extraordinary general meeting ("EGM") of the company held on 30 March 2012, all the resolutions proposed at the meeting (detailed below) were approved by the requisite majority of votes.



Ordinary resolutions

*Appointment of the auditor, Deloitte Audit Limited.

*Appointment of a new director, Ms Rita Schembri.



Extraordinary resolutions

Amendments to the Memorandum and Articles of Association as follows:

*update the Memorandum of Association in order to reflect certain changes which have taken place since the transfer of the company's registered office to Malta; and

*amend the Articles of Association in order to allow the company to request certain information in relation to the beneficial holders of its shares.

09-Mar-2012
(Official Notice)
08-Mar-2012
(Official Notice)
Notice was given to all the members, directors and auditors of Brait of an extraordinary general meeting ("EGM")of the company to be held at Avantech Building (4th floor), St Julian's Road, San Gwann, SGN 2805, Malta on 30 March 2012 at 14:00 CET to consider and, if deemed fit, pass the resolutions set out below:

Ordinary resolutions

* Appointment of the auditor, Deloitte Audit Ltd.

* Appointment of a new director, Ms Rita Schembri.



Extraordinary resolution

Amendments to the Memorandum and Articles of Association as follows:

* update the Memorandum of Association in order to reflect certain changes which have taken place since the transfer of the company's registered office to

* Malta; and amend the Articles of Association in order to allow the company to request certain information in relation to the beneficial holders of its shares.
17-Feb-2012
(Official Notice)
Shareholders are advised that the company has entered into negotiations which, if successfully concluded, may have a material effect on the price of the company's securities. Accordingly, shareholders are advised to exercise caution when dealing in the company's securities until a detailed announcement is made.
10-Nov-2011
(Media Comment)
Business Report highlighted that Brait increased profit 11-fold in the six months to September 2011, after it changed its business model and reduced its business segments to one. The six-month period included major changes for Brait. The company changed its business model from an alternative asset manager to an investment company. The asset manager units were converted to fair value portfolio companies. The group said it would now be aiming to grow its NAV a share at a compound rate of at least 15 percent a year averaged over any three year period.
09-Nov-2011
(C)
Investment gains for the interim period increased to USD140.5 million (2010: USD19.6 million). Profit for the period attributable to shareholders surged to USD149 million (2010: USD12.6 million), while headline earnings jumped to USD50cps (2010: USD12cps).



Brait's new business model

The past six months have seen major changes for Brait. The company has changed its business model from an alternative asset manager to an investment company. The highlight of the period was the successful completion of the R6.4 billion rights offer and private placement on 4 July 2011. The group tapped into the strategic benefits of raising funds from the public equity markets through its listing, while maintaining and building on the strengths of its private equity investment model.



Dividend to NAV yield

As a consequence of Brait's new business model, its dividend policy has changed. Dividends will be considered annually when the results for each year are published. The extent of any dividends will be determined relative to net operating cash flows and to the payments received on the realisation of loans and investments from time to time and which are not earmarked for new projects or required for liquidity. The group will be targeting a dividend to NAV yield of 1% - 2.5% per annum starting latest in the 2013 financial year to be paid in either cash or scrip.



Group outlook

Brait has successfully bedded down the recent corporate actions and internal reorganisation, leaving it well positioned to capitalise on future investment opportunities and drive value growth in its underlying portfolio.
27-Oct-2011
(Official Notice)
Notice is hereby given that an extraordinary general meeting ("EGM") of Brait SE will be held at 42, rue de la Vallee, L-2661 Luxembourg, Grand Duchy of Luxembourg at 10:00 a.m., or as soon thereafter as it commences, on Friday, 4 November 2011 in the presence of a Luxembourg notary to consider and, if thought fit, pass the resolutions set out below:

*Conversion of the company's share capital from no par value shares to par value shares. This will result in an increase in the Euro denominated authorised share capital and a minor reduction in the issued share capital to accommodate the rounding off effect of the new par value shares.

*Renewal of the authority granted to the company to purchase its own shares subject to certain limitations.

*Transfer of the company's registered office from Luxembourg to Malta.

*Appointment of directors and auditors.

*Approval of Maltese-law-compliant Memorandum and Articles of Association to replace the company's existing Memorandum and Articles of Association upon its transfer to Malta.



Accordingly the salient dates in respect of the EGM are as follows:

*Record date to determine which shareholders are entitled to attend and vote at the EGM on Friday, 28 October 2011

*Forms of proxy for the EGM to be lodged by 10:00 a.m. on Wednesday, 2 November 2011

*Any proxies not lodged by this time must be handed to the chairperson of the general meeting immediately prior to the general meeting.

07-Oct-2011
(Permanent)
Brait S.A. renamed to Brait SE on 10 October 2011. The company's alpha code, short name and ISIN code remain unchanged.
07-Oct-2011
(Official Notice)
Shareholders are referred to the announcement released on SENS on 23 August 2011 in respect of the results of the company's Extraordinary General Meeting held on 22 August 2011, wherein it was stated that the terms of the merger with BM plc (a Maltese subsidiary of the company), recorded that the company had obtained shareholders' authority to change its legal form to that of a European Company ("Societas Europaea"). It was further advised that Brait S.A. shall upon its registration with the Luxembourg Trade Registry, take the form of a Societas Europaea with the name of "Brait SE".



The company's registration with the Luxembourg Trade Registry as "Brait SE" occurred on 29 August 2011 and its change of legal form was effective from that date. The company's name changed to "Brait SE" with effect from 29 August 2011 for Luxembourg Stock Exchange purposes. Shareholders are advised that for the purposes of the exchange operated by the JSE Limited, the company's name change is with effect from 10 October 2011. The company's alpha code, short name and ISIN code remain unchanged.
07-Oct-2011
(Official Notice)
Shareholders were advised that Brait's net asset value ("NAV") per share as at 30 September 2011 has increased by 37.7% to ZAR18.33 (2010: ZAR13.31). This represents an 11.1% increase on the ZAR16.50 NAV per share when the rights offer and private placement capital raising was concluded on 4 July 2011, and a 43.4% increase on the 31 March 2011 NAV per share of ZAR12.78.



Shareholders were previously advised that:

* the company successfully undertook a rights offer and private placement at ZAR16.50 per share, resulting in 387 213 372 new Brait shares being issued for a total consideration of ZAR6.4 billion on 4 July 2011;

* Brait applied the rights offer and private placement proceeds to acquire significant stakes in Pepkor Holdings Ltd and Premier Group (Pty) Ltd, and retains ZAR1.7 billion in cash or cash equivalents for new investment activities; and

* the company reorganised executive management, board and business unit structures and implemented operating cost reduction initiatives to complement the company's new business structure and strategic focus as an investment company.



Shareholders were advised that the company's previous asset management units, including its hedge fund operations, have been treated as portfolio companies which are carried at fair value instead of the previous consolidation method. The above change impacts Brait's NAV per share. The interim financial results of the company for the six months ended 30 September 2011 are currently being prepared and are expected to be published on SENS on or about 9 November 2011.
23-Aug-2011
(Official Notice)
08-Aug-2011
(Official Notice)
Notice was given that an EGM of Brait SA will be held at 42, rue de la Vallee, L-2661 Luxembourg, Grand Duchy of Luxembourg at 10:00 am, or as soon thereafter as it commences, on 22 August 2011 to consider a conversion of capital from US dollars to euros, to change the company's legal form into a European company, and to amend the company's articles.
28-Jul-2011
(Official Notice)
06-Jul-2011
(Official Notice)
29-Jun-2011
(Official Notice)
Following the closing of the Rights Offer on 24 June 2011, and the completion of the public auction arranged by the Luxembourg Stock Exchange ("LuxSE") on Wednesday, 29 July 2011, 100% of the renounceable (nil paid) rights ("Right" or "Rights") have been taken up in line with the guidance given to holders ("Brait Shareholders") of ordinary shares of no par value in Brait ("Shares") in the circular to Brait Shareholders dated Monday, 18 April 2011 ("Circular"). Brait Shareholders have taken up 288 978 441 renounceable (nil paid) rights ("Right" or "Rights") out of a total 356 961 963 Rights issued pursuant to the Rights Offer. This represents an 81% take up of the available Rights. The remaining 67 983 522 unexercised Rights, as announced on the Brait website and the LuxSE website on Monday, 27 June 2011, were sold to the underwriters through the Auction, resulting in a 100% take up of the Rights.



Brait Shareholders are further advised that given the substantial take up of Rights by Brait Shareholders, in order for the Investment Team to obtain an 18% interest in Brait, the Investment Team will subscribe for an additional 30 251 409 Shares in terms of a private placement at a subscription price of ZAR 16.50 per Share on Monday, 4 July 2011 ("Private Placement"). This will result in the total capital raised by Brait being R6.4 billion, an increase of ZAR 500 million on the initial R5.9 billion Rights Offer target, in line with the base case scenario in part 7, paragraph 1 per the Circular.



Titan has achieved its desired shareholding of approximately 33.33% in Brait following the acquisition of Shares in the market, Rights during the Rights Offer period and its underwriting obligation at the Auction. Therefore a private placement for Titan will no longer be necessary. At the conclusion of the Rights Offer and Private Placement on Monday 4 July 2011, the total Shares in issue will be 506,200,693. A transaction completion announcement will be released on SENS during the week commencing Monday, 4 July 2011.
15-Jun-2011
(Official Notice)
Shareholders were advised that the annual financial statements will be distributed to shareholders on 15 June 2011 and contain no modifications to the audited results which were published on SENS on 2 June 2011.



Notice of the annual general meeting

Notice was given that the annual general meeting of Brait shareholders will be held at 42, rue de la Vallee, L-2661, Luxembourg, Grand Duchy of Luxembourg on Wednesday, 27 July 2011 at 14:30 to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.
02-Jun-2011
(C)
Fund management income grew to USD32.6 million (USD27.5 million) and profit from operations improved to USD36.2 million (USD34.1 million). Profit attributable to ordinary equity holders of the company rose to USD24.3 million (USD23.7 million) but headline earnings per share dropped to USD21.6cps (USD22.3cps).



Dividend

As a consequence of Brait's new business model, there will be no final dividend proposed for the current financial year.



Outlook

The transactions being undertaken by the group will result in the company being well placed to pursue its new strategic initiatives to drive the performance of its underlying investments which should translate into significant growth in Brait's NAV and HEPS commencing in the 2012 financial year.
04-May-2011
(Official Notice)
04-Apr-2011
(Official Notice)
25-Mar-2011
(Official Notice)
02-Mar-2011
(Official Notice)
02-Mar-2011
(Official Notice)
13 Jan 2011 10:04:02
(Official Notice)
Shareholders are advised that the Company is considering a potential transaction which, in respect of the Company, may involve a significant equity markets capital raising, the securing of an anchor shareholder, the acquisition of investment assets and an internal reorganization in support of these steps ("the Transaction").



The potential Transaction remains highly conditional and will require, inter alia, regulatory and shareholder approvals. Shareholders are accordingly advised to exercise caution when dealing in the Company's securities until a further announcement is made.

01 Nov 2010 09:21:32
(Media Comment)
Business Day said that, private equity group Brait on Friday, 29 October 2010 shrugged off concern about sluggish economic growth in SA and said it is ready to pounce on new opportunities, bolstered by its strong balance sheet. CEO Alan Ball said the firm, whose three core business segments are private equity, public markets and treasury capital, has emerged from the financial crisis much stronger to face the world with high hopes of future growth. This is despite indications that the operating environment continues to pose uncertainties, especially given the global economic outlook and the effect of the strength of the rand on economic activity, he said.
29 Oct 2010 08:49:00
(C)
Investment income for the interim period strengthened to USD23.3 million (2009: USD14 million). Profit from operations increased to USD20.7 million (2009: USD15.6 million), and attributable earnings was higher at USD15.5 million (2009: USD9.6 million). Furthermore, headline earnings per share grew to 14.5 cents per share (2009: 9.0 cents per share).



Dividend

The board's current dividend policy is to pay annual dividends totalling 12.5% of Brait's opening net asset value, provided the board is satisfied that this does not impair its solvency, or its ability to finance its business plan. Thus a interim dividend of 74.24 cents per share (2009: 89.77 cents per share) has been declared. Shareholders who receive their dividends in USD, are advised that the interim dividend is 10.74 US cents per share.



Group outlook

The operating environment continues to pose uncertainties, especially given the global economic outlook. The South African economy appears to have resumed a moderate growth path following the effects of the global financial crisis, although the impact of the continued strength of the rand on levels of economic activity remains a concern. As expressed in the statement for the year ended 31 March 2010, Brait has emerged from a challenging two year period in a strong and robust position, well primed for growth, not with-standing the lower inflation environment currently prevailing in South Africa. The ability to capitalise on this position remains significantly dependent on market conditions and investor appetite for our investment products.
08 Oct 2010 16:02:52
(Official Notice)
Shareholders of Brait were advised that the company expects its earnings per share ("eps") and headline earnings per share ("heps") for the six months ended 30 September 2010 to be between 40% and 50% higher than the reported eps and heps for the corresponding six months ended 30 September 2009, which were as follows:

*Basic eps and heps: 72.8 ZAR cents

*Diluted eps and heps: 72.7 ZAR cents

The interim financial results of the company for the six months ended 30 September 2010 are currently being prepared and are expected to be published on or about 29 October 2010.
06 Sep 2010 15:08:10
(Official Notice)
06 Sep 2010 08:04:40
(Official Notice)
Notice was given of the below mentioned issue of new Brait S.A ordinary shares on 24 August 2010:

* Number of shares issued : 8 500 000

* Class of shares : Ordinary

* Date of issue : 24 August 2010

* ISIN code : LU 0011857645

* Listing date : 6 September 2010



The new issue of ordinary shares will be listed on the main market of the JSE. The new issue of ordinary shares will have the same rights, be fully fungible as and listed under the same ISIN code, as the existing ordinary shares in issue.
28 Jul 2010 17:04:27
(Official Notice)
At the annual general meeting of the company held on Wednesday, 28 July 2010, all the resolutions contained in the notice of AGM, which formed part of the 31 March 2010 annual financial statements to shareholders, dated 18 June 2010, were passed by the requisite number of shareowners.
15 Jul 2010 17:06:09
(Official Notice)
Shareholders are advised that the company's annual report, incorporating the audited financial statements for the year ended 31 March 2010, were distributed to shareholders on 2 July 2010 and contains no changes to the reviewed results which were published on SENS on Tuesday, 25 May 2010, and in the press on Wednesday, 26 May 2010. The annual financial statements were audited by the company's auditors, Deloitte S.A., and their report is available for inspection at the company's registered office. Notice is hereby given that the annual general meeting of Brait shareholders will be held at the registered office of the company, 180, rue des Aubepines, L- 1145, Grand Duchy of Luxembourg, on Wednesday, 28 July 2010 at 14:30 to transact the business as stated in the annual general meeting notice circulated as part of the annual report.
17 Jun 2010 09:53:42
(Media Comment)
According to Business Day, Brait was evaluating its options after shareholders in Freeworld Coatings Ltd ("Freeworld") rejected Brait's bid to buy Freeworld. The listed paints and coating company confirmed that it could soon be considering a competing bid from an unnamed investor, believed to be from the Far East. Bruce Baisley, private equity director at Brait said that Brait's failure to buy Freeworld was not the end of the world. Institutional shareholders rejected the offer and claimed that it was below the value of Freeworld.
25 May 2010 09:28:00
(C)
Revenue for the year ended was lower at R211.4 million (2009: R334.1 million). Profit from operations showed an increase of 12.6% and rose to R267.3 million (2009: R237.3 million). Profit for the year attributable to shareholders was 11.4% higher at R185.6 million (2009: R166.6 million) . Furthermore, headline earnings per share rose to 174.8cps (2009: 157cps).



Dividend

A final dividend per share of 89.77 cents has been declared and, when added to the interim dividend of 89.77 cents per share, equates to a total dividend for the financial year of 179.54 cents per share, and compares to the prior year annual dividend of 178.90 cents per share.



Outlook

The operating environment still poses uncertainties, especially given the global economic outlook: USA unemployment, EU debt problems and the situation in China. In South Africa the 850 000 job losses in 2009 still poses challenges to consumer demand. There are, however, a number of encouraging signs. The upcoming FIFA 2010 World Cup as well as government's R846 billion infrastructure project should have a positive impact on the economy. The group has emerged from a challenging two year period in a strong and robust position, well primed for growth. Additionally, Brait is well placed to pursue a number of strategic initiatives that should provide a timely boost to its performance over the next few years.
15 Apr 2010 16:03:07
(Official Notice)
Shareholders are referred to announcement published on Sens on 19 February 2010 regarding Brait's intended delisting of its shares on the London Stock Exchange ("LSE"). The financial services authority has now confirmed the cancellation of Brait's delisting from the LSE, effective 22 March 2010. Brait's remaining listings are on the Euro MTF market of the Luxembourg Stock Exchange (primary listing) and the JSE (secondary listing).
19 Feb 2010 11:04:32
(Official Notice)
With effect from 16 February 2010, Brait transferred the listing of its shares from the EU regulated market of the Luxembourg Stock Exchange ("LuxSE") to its Euro MTF market. The Euro MTF market of the LuxSE is a multilateral trading facility recognised by EU legislation. As it is not an EU regulated market the transfer to the Euro MTF market releases Brait from a number of onerous obligations, including the requirement to publish either quarterly trading statements or interim management reports. The trading system and market rules of both the Euro MTF market and the EU regulated market of the LuxSE are identical. Brait S.A. will therefore continue to fully comply with the listing and disclosure requirements of the both the LuxSE and JSE.



Delisting on London Stock Exchange ("LSE")

Pursuant to listing rules 5.2.4 and 5.2.8 of the United Kingdom Financial Services Authority ("FSA"), Brait hereby gives notice of the intended cancellation of the listing of its shares on the LSE. Brait will apply to the FSA for the cancellation of its LSE listing, which is expected to become effective after the required 20 business days notice period, commencing on the date of publication of this notice, has lapsed.
29 Oct 2009 11:13:36
(C)
Revenue decreased from USD20.4 million to USD15.1 million in 2009.Profit before taxation decreased to USD12.2 million (2008:USD12.5 million). Profit attributable to ordinary shareholders increased to USD9.6 million (USD9.3 million). Headline earnings on a per share basis increased to 9.0cps (8.0cps).



Dividends per share

The board has declared a dividend in accordance with its dividend policy, amounting to 89.77 cps (2008: 89.45 cents).



Prospects

The operating conditions discussed under "Operating Environment" have presented Brait with some challenges, notably a tougher fundraising environment, but also numerous opportunities, as investors seek solutions in structured and hedge fund investments, and the ability to purchase private equity assets at attractive valuations. The strong operating performance of the private equity portfolio companies and improved equity markets should facilitate new inflows into Brait V and the performance of the products in Public Markets should facilitate inflows into the relevant products.



Whilst resumption of normal levels of profitability are not anticipated in this financial year, the improvements noted above when matched with the inherent strength of the franchise and the investment teams is likely to lead to a return to the performance measures in the next financial year, on the assumption that the conditions in the operating environment continue to improve.
07 Sep 2009 15:32:50
(Official Notice)
Shareholders are advised that Mervyn King will retire as a director of Brait and stand down as non-executive chairman of the board with effect from 7 September 2009. The new non-executive chairman of the board is Jabu Moleketi who was also appointed effective 7 September 2009. Mr Moleketi was deputy minister of finance from 29 April 2004 to 23 September 2008.
30 Jul 2009 11:07:51
(Official Notice)
At the AGM of the company held on Wednesday, 29 July 2009, all the resolutions were passed by the requisite number of shareowners.
01 Jul 2009 14:03:40
(Official Notice)
As an international investment group, the assessment of net asset value is a key performance measurement for Brait. Shareholders are advised that the board of directors has resolved to adopt net asset value per share for trading statement purposes for the year ending 31 March 2010 and going forward. Brait undertakes to confirm this measurement criterion annually in the annual financial statements.
30 Jun 2009 14:11:54
(Official Notice)
Shareholders are advised that the company's annual report, incorporating the audited financial statements for the year ended 31 March 2009, were distributed to shareholders on 30 June 2009 and contains no changes to the reviewed results which were published on SENS on Monday, 25 May 2009, and in the press on Tuesday, 26 May 2009. The annual financial statements were audited by the company's auditors, Deloitte S.A., and their report is available for inspection at the company's registered office. Notice is hereby given that the annual general meeting of Brait shareholders will be held at the registered office of the Company, 180, rue des Aubepines, L-1145, Grand Duchy of Luxembourg, on Wednesday, 29 July 2009 at 14:30 to transact the business as stated in the annual general meeting notice circulated as part of the annual report.
22 Jun 2009 08:15:55
(Official Notice)
Peter Wilmot has resigned as a non-executive director with effect from 19 June 2009. In his stead, Mr Christopher Stefan Seabrooke, has been appointed as non-executive director of Brait, with effect from 19 June 2009.
25 May 2009 09:51:52
(C)
The group's attributable earnings for the year were R166.6 million, a 58% decrease on the R393.0 million recorded in the previous year. Headline earnings for prior year excludes the R139.3 million gains from the group's realisation of its investment in Bayport as well as the contribution from the discontinued corporate finance business. On this basis, recurring earnings reduced 34% from R253.7 million to R166.6 million.



Dividend

A final dividend per share of 89.45cps has been declared and, when added to the interim dividend of 89.45cps, equates to a total dividend for the financial year of 178.90cps - an increase of 19% compared to the prior year annual dividend of 150.34cps.



Prospects

The operating conditions have presented Brait with some challenges, notably lower fair value of assets, with Price/Earnings multiples generally reducing in assets held in its portfolio, and a significantly more constrained investor environment. The alternative asset industry has been in the spotlight recently, as concern has been expressed by administrations of many leading economies about the perceived lack of regulatory oversight of this asset class, particularly hedge funds. This in turn has led to some negative perceptions. Brait retains its conviction in the benefits of alternative assets to the capital markets, as evidenced by the gains achieved by investors in well structured and managed private equity and hedge funds. Brait is confident that this negative sentiment will dissipate over time. In the meantime, Brait is actively engaged in the relevant industry forums, and is working with the relevant regulatory bodies to further develop the prospects for this asset class. Brait's investment teams are market leaders. They have performed well in their primary purpose this year - the group have continued to deliver on the performance expectations of its investors and, where this has not been the case, action has been taken.
03 Apr 2009 11:18:02
(Official Notice)
For the year ended 31 March 2009, the Brait directors estimate the following decreases when compared to the year ended 31 March 2008:

* Basic earnings per share by 57% to 62%

* Diluted earnings per share by 57% to 62%

* Basic headline earnings per share by 37% to 42%

* Diluted headline earnings per share by 37% to 42%

Management has responded to current market conditions with caution and accordingly, cash resources have been conserved and amounted to R410m as at 31 March 2009. The financial information on which this trading statement has been based has not been reviewed or reported on by the company's auditors. The group will publish its results on or about 25 May 2009 at which time fuller comment on the results will be provided.
18 Nov 2008 14:01:38
(Official Notice)
Shareowners are advised that an interim dividend of 89.45cps, which equates to an increase of 51.4% compared to the prior year interim dividend of 59.07cps, has been declared. The interim dividend will be paid to shareowners on Monday, 8 December 2008. The record date for the dividend is the close of business on Friday, 5 December 2008. The last day to trade "cum dividend" will be Friday, 28 November 2008 and the share will commence trading "ex dividend" on Monday, 1 December 2008. Share certificates may not be dematerialised or rematerialised between Monday, 1 December 2008 and Friday, 5 December 2008, both days inclusive.



Shareowners who receive their dividends in USD, are advised that the interim dividend is US8.58cps, and has been determined using the ZAR/USD exchange rate in Luxembourg at 12:00 on 28 October 2008. Non-resident shareowners registered on the South African register, who prefer their dividends to be paid in US dollars, are advised to inform their CSDPs/brokers accordingly and provide their banking details to their CSDPs/brokers by the required deadline in terms of their agreements entered into with their CSDPs/brokers.
10 Nov 2008 14:23:20
(Official Notice)
Andrew Campbell has resigned as a director of Brait and from all associated positions in the group.
30 Oct 2008 14:03:10
(Official Notice)
Shareholders are advised that Mohale Masithela has resigned as chief operating officer of Brait and as a director of Brait and its subsidiaries, with effect from 28 October 2008. Samuel Sithole, who joined Brait as the group financial director on 1 June 2008, now joins the board of Brait, with effect from 28 October 2008.
13 Oct 2008 11:02:59
(Official Notice)
Shareholders of Brait are advised that the company expects its earnings per share ("eps") and headline earnings per share ("heps") for the six months ended 30 September 2008 to be lower than the reported eps and heps for the corresponding six months ended 30 September 2007. The interim financial results of the company for the six months ended 30 September 2008 are currently being prepared and are expected to be published on or about 31 October 2008.
31 Jul 2008 10:28:01
(Official Notice)
At the AGM of the company held on Wednesday, 30 July 2008, all the resolutions contained in the notice of AGM, which formed part of the annual financial statements to shareowners, dated 20 June 2008, were passed by the requisite number of shareowners.



Included among the resolutions passed was the declaration and payment of a final dividend for the year ended 31 March 2008 of USD11.80 cents per share and ZAR91.27 cents per share for the shareowners registered on the South African register.
30 May 2008 10:06:10
(C)
Revenue declined to USD38.3 million (USD66.8 million) for the year ended 31 March 2008. Profit from operations decreased to USD42.4 million (USD62.3 million). Nevertheless, net profit for the year attributable to ordinary shareholders increased to USD55.1 million (USD51.1 million). Headline earnings on a per share basis fell to USD35.5cps (USD44.6cps).



Dividend

A final ordinary dividend of 91.27cps has been proposed.



Prospects

The operating conditions have presented Brait with some challenges, notably reduced fair value of assets, with price/earnings multiples generally reducing in assets held in its portfolio, but also numerous opportunities, as investors seek solutions in structured and hedge fund investments, and the ability to purchase private equity assets at attractive valuations.



In this context, it is noteworthy that in South Africa, the SA Venture Capital and Private Equity Association survey shows that private equity funds under management have grown by 46% in 2007, with the hedge fund industry also showing a positive trend. The group has strong market positions in these areas and is organised to deploy capital into both its flagship businesses and the many new initiatives that have been seeded. Accordingly, Brait finds itself well positioned to capitalise on these trends.



Brait remains confident of continuing to meet its performance targets over the relevant periods, yet cautions that short-term earnings prospects are likely to be muted due to the negative effects of the environment cited above, the levelling off of earnings in private capital, and due to the strategic emphasis on business building.
04 Apr 2008 13:10:12
(Official Notice)
For the year ended 31 March 2008, Brait estimates that, in relation to the year ended 31 March 2007:

* Earnings per share is expected to increase by 8% to 12%;

* Diluted EPS is expected to increase by 14% to 18%;

* Headline earnings per share is expected to decline by 18% to 22%;

* Diluted HEPS is expected to decline by 16% to 20%



The financial results of the company for the year ended 31 March 2008 are currently being prepared and are expected to be published on or about 30 May 2008.
27 Feb 2008 10:42:01
(Official Notice)
Shareholders are referred to the notice issued on 19 November 2007 with regard to certain non-executive directors having exercised all their share scheme entitlements. The notice, inter alia indicated that Mr. PAB Beecroft had taken up his 50 000 entitlement shares indirectly. Due to a change of intention, shareholders are accordingly advised that Mr. PAB Beecroft took up his entitlement shares directly in his personal capacity.
27 Jul 2006 14:35:25
(Official Notice)
At the AGM of the company held on Wednesday, 26 July 2006, all the resolutions contained in the notice of AGM, which formed part of the annual financial statements to shareowners, dated 19 June 2006, were passed by the requisite number of shareowners.
02 Jun 2006 09:57:16
(C)
Profit from operations has increased from USD48.5 million to USD52.9 million for the period. Earnings improved in all business segments with the major contributions coming from the groups private equity and group investments operations. Brait has consistently applied its policy of hedging the groups South African tangible assets into US dollars, which is the functional currency of Brait S.A. The cost of the hedge recognised against income for the year was USD2.2 million. The sale of 26% of Brait South Africa during the previous financial year to the groups new BEE partner has not been recorded as a sale as it has given rise to a financial instrument that has been disclosed in terms of IAS 32 and measured in terms of IAS 39. The fair value adjustment loss of this financial instrument for the year was USD1.4 million. During the year the group introduced new strategic partners to Bayport Holdings Ltd realising a profit on disposal of USD2.9 million and reducing Braits effective economic interest to 41.66%. Brait continues to consolidate Bayport as the groups voting interest is 53.41%. The group has sold its Johannesburg property and buildings, including fittings, situated at 9 Fricker Road, Illovo, during the second half of the year resulting in a gain of USD2.8 million.



Prospects

The group believes that it is now well positioned to capitalise on the opportunities prevalent in its markets. These include:

* a uniquely experienced, motivated and capable team;

* the potential to deliver substantial further value in Brait III;

* significant new capital and future prospects from Brait IV;

* new low cost capital to expand Braits proprietary investment growth;

* a market leading position in the rapidly growing fund of hedge fund arena; and

* a profitable and expanding low risk micro-lending service offering in sub-Saharan Africa.

The sustainable macro-economic prospects for Braits core businesses, particularly in the African region, are as good as they have ever been over any time in the past decade.

Provided there are no market or other events outside the groups control, the prospects for continued earnings growth and equity returns with these fundamentals in place are very encouraging.



Dividend

The board proposed to pay a final dividend of USD0.1039 per share or R0.6781 per share.
28 Mar 2006 12:21:03
(Official Notice)
The company expects both earnings per share and headline earnings per share, for financial year ended 31 March 2006 to be greater than the reported eps and heps for the prior year ended 31 March 2005.



The anticipated increases over the comparable period are:

*Basic eps by 29% to 36%

*Basic heps by 16% to 22%

*Diluted eps by 31% to 38%

*Diluted heps by 18% to 23%

The financial results of the company for the year ended 31 March 2006 are currently being prepared and are expected to be published on or about 1 June 2006.
08 Nov 2005 15:28:11
(Media Comment)
Mervyn King, senior chairman of Brait explained in a conference in Johannesburg why he did not follow his own corporate governance guidelines when the group decided to name three more people with the title of chairman. According to Business Report, Brait wanted to launch a fourth fund worth USD600 million, but US investors were reluctant to jump on board unless they dealt with the directors they had known when Brait had launched its previous three funds. In order to keep these investors happy, the company decided to follow the Goldman Sachs model by naming a South African chairman, an executive chairman and a deputy executive chairman, instead of following the King 2 report advocating a single independent chairman.

03 Nov 2005 16:43:02
(Official Notice)
Shareholders are advised that, based on the currency conversion rate of US$1 to ZAR6.5618 in Luxembourg as at 12:00 today, the dividend payable to South African shareholders will be 51.51 cents per share.



03 Nov 2005 10:01:02
(C)
Profit from operations has increased from USD12.0 million to USD23.3 million for the period. Earnings improved in all business segments with the major contributions coming from the group's Private Equity operations and Group Investments. Profit on capital items amounted to USD0.2 million. Brait has consistently applied its policy of hedging the group's South African tangible assets into US dollars, which is the functional currency of Brait SA. The cost of the hedge recognised against income for the period was USD0.5 million. The sale of 26% of Brait South Africa Ltd during the previous financial year to the group's new BEE partner has not been recorded as a sale as it has given rise to a financial instrument which has been disclosed in terms of IAS 32 (Financial Instruments: Disclosure and Presentation) and measured in terms of IAS 39 (Financial Instruments: Recognition and Measurement). The fair value adjustment gain of this financial instrument for the period was USD0.7 million. The US dollar annualised return on average shareowners' funds was 37.1%, substantially exceeding the 20.0% achieved in the comparative period. The group's net asset value increased by 19.6% since 31 March 2005 after adding back dividends paid. Cash inflow from operating and investing activities was USD7.7 million. Operational cash improved by USD11.5 million over the prior period, mainly as a result of investment returns and realisations net of the additional working capital deployed in Bayport. At 30 September 2005 the balance sheet remained sound with approximately 12.4% (USD16.0 million) of shareowners' capital held in cash and cash equivalents.



Prospects

The outlook for the second half of the year is encouraging. The prospects for raising further new funds in Private Equity are good and Specialised Funds stands to benefit from its new capital inflow. There is also opportunity to create further value from Brait's investing activities. Provided that there are no market or other events outside the group's control, Brait's earnings in the second half should meet or exceed those reported in the first half of the year.
04 Oct 2005 08:06:17
(Official Notice)
Shareholders of Brait are advised that the company expects both earnings per share and headline earnings per share, for the six-month period ended 30 September 2005 to be greater than the reported figures for the six-month period ended 30 September 2004. Basic earnings per share and headline earnings per share are expected to be up by between 134% and 154%.
28 Jul 2005 08:27:48
(Official Notice)
At the extraordinary general meeting (EGM) of the company held on Wednesday, 27 July 2005, all the resolutions contained in the notice of EGM, which formed part of the circular to shareowners, dated 30 June 2005, were passed by the requisite number of shareowners. These resolutions regulate:

*the issue of additional Brait S.A. shares to the Brait Executive Share Purchase Scheme Trust;

*the consequential increase of the issued share capital of the company; and

*the transfer of reserves from the share premium account to the distributable reserve account.

The additional Brait S.A. shares will be listed on 29 July 2005.



At the AGM of the company held on Wednesday, 27 July 2005, all the resolutions contained in the Notice of AGM, which formed part of the annual financial statements to shareowners, dated 10 June 2005, were passed by the requisite number of shareowners.



Shareowners on the South African register will receive a dividend of 68.42c per ordinary share in the company, based on a currency conversion rate of R6.6756 to USD1 on Wednesday, 27 July 2005 in Luxembourg at 12:00.



The important dates pertaining to the final dividend are as follows:

*Last day to trade cum dividend Thursday, 4 August

*First trading day ex dividend Friday, 5 August

*Record date (close of business) Friday, 12 August

*Electronic transfer of funds or cheques posted by ordinary post in respect of certificated shareowners Monday, 15 August
12-Jul-2016
(X)
Brait is an investment holding company focused on driving sustainable long-term growth and value creation in its investment portfolio of sizeable unlisted businesses operating in the broad consumer sector. The current investment portfolio includes New Look, Virgin Active, Premier FMCG and Iceland Foods. Brait?s shares are listed on the EURO MTF market of the Luxembourg Stock Exchange and also on the JSE.



Send e-mail to for any enquiries or see Contact Details for phone numbers
Home   •   Terms & conditions   •   PAIA   •   Privacy Policy   •   Security Notice   •   Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.
© 2018 SHARENET (PTY) Ltd, Cape Town, South Africa
Best in 800x600 with IE6 or Mozilla Firefox