LABAT AFRICA LIMITED - Reviewed Provisional Condensed Consolidated Financial Results for the 9 Month Period Ended 31 May 2022

Reviewed Provisional Condensed Consolidated Financial Results for the 9 Month Period Ended 31 May 2022

LABAT AFRICA LIMITED
Incorporated in the Republic of South Africa
(Registration number 1986/001616/06)
JSE code: LAB ISIN: ZAE000018354
(“Labat” or “the Company” or “the Group”)
FSE Code: LEI 9845000R73DF5EE41J88

SHORT-FORM ANNOUNCEMENT:
REVIEWED PROVISIONAL CONDENSED CONSOLIDATED FINANCIAL RESULTS FOR THE 9 MONTH PERIOD
ENDED 31 MAY 2022

Salient Features
Extracted from the reviewed provisional condensed consolidated financial results for the 9-month period
ended 31 May 2022:

                                             9 months ended         12 months ended
                                                31 May 2022          31 August 2021
                                                   Reviewed                 Audited              Difference
                                                      R’000                   R’000              Percentage
 Revenue                                             23 043                  29 270                   -21.3%
 Operating loss                                     (36 932)                (28 135)                  -31.3%
 Basic loss per share (cents)                          (6.9)                   (5.7)                  -21.0%
 Headline loss per share                               (6.6)                   (6.5)                   -1.5%
 Net Asset Value Per Share (cents)                     15.7                    21.1                   -25.6%

It is noted that the results are compared to the 12-month period ended 31 August 2021 following the
change in year end from 31 August 2022 to 31 May 2022.

Short-Form Announcement
The short-form announcement is the responsibility of the directors and is only a summary of information
contained in the reviewed provisional condensed consolidated financial results for the 9-month period
ended 31 May 2022 (“Full Announcement”) and does not contain full or complete details of the financial
results. Any investment decisions by investors and/or shareholders should be based on consideration of the
Full Announcement available on the Company’s website at https://www.labat.co.za and on:

https://senspdf.jse.co.za/documents/2022/JSE/ISSE/LAB/LABRVR22.pdf

Copies of the full announcement may be requested from the Company (info@labat.co.za) or inspected
at the registered office and/or the Sponsors’ office, at no charge, during office hours with prior
arrangement.

Review Conclusion
The condensed provisional consolidated financial results of the Group have been reviewed by Nexia
SAB&T. The auditors’ review report is available for inspection at the company’s registered office. The
review conclusion is unmodified and is set out below:

“Based on our review, nothing has come to our attention that causes us to believe that the condensed
consolidated financial statements of Labat Africa Limited and its subsidiaries for the period ended 31 May
2021 are not prepared, in all material respects, in accordance with the requirements of the JSE Limited
Listings Requirements for provisional reports, as set out in the basis of preparation of the condensed
consolidated financial statements, and the requirements of the Companies Act of South Africa.”
The Auditor’s Report does not necessarily report on all of the information contained in this announcement.
Shareholders are therefore advised that in order to obtain a full understanding of the nature of the Auditor’s
engagement, they should obtain a copy of the Auditor’s Report together with the accompanying financial
information from the company’s registered office.

For and on behalf of the Board

BG van Rooyen                                                                                   GRI Walters
Chief Executive Officer                                                                   Financial Director
Johannesburg
17 October 2022

Directors:
BG van Rooyen*, DJ O’Neill*, GRI Walters*, SE van Rooyen*, RM Majiedt^, R Rustum^, BA Penny^
Executive*, Independent non-executive^

Company Secretary: Light Consulting Proprietary Limited
Registered Address: 23 Kroton Avenue, Weltevreden Park, 1709
Sponsor: AcaciaCap Advisors Proprietary Limited
Transfer Secretary: Computershare Investor Services Proprietary Limited

Sponsor
AcaciaCap Advisors

Date: 17-10-2022 11:25:00
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