AH-VEST LIMITED - Trading Statement

Trading Statement

AH-VEST LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1989/000100/06)
(“AH-Vest” or “the company”)
Share code: AHL        ISIN code: ZAE000129177


TRADING STATEMENT


In terms of paragraph 3.4(b)(i) of the Listings Requirements of the JSE Limited (“JSE”), listed
companies are required to publish a trading statement as soon as they become reasonably
certain that the financial results for the period to be reported on next will differ by at least 20%
from those of the previous corresponding period or from a profit forecast previously provided to
the market in relation to such period.

Shareholders are reminded that the Company published a profit forecast for the year ending 30
June 2022 on SENS on 14 August 2020, which reflected a forecast profit after tax of R7.449m or 7.3
cents per share(“cps”) before any capital raise and R15.286m post any capital raise or 10.54 cps.
The Company has yet to raise capital through the markets and therefore the pre-capital raising
forecast (“forecast”) of 7.3 cps would apply

The Board would like to advise shareholders that for the year ended 30 June 2022, the Company
expects to report:

-   earnings per share (“EPS”) of between 1.72 cps and 2.32 cps, being between 76.5% and 68.2%
    lower than the EPS of 7.3 cps reported for the forecast and between 82.8% and 76.8% lower
    than the EPS of 10.01 cps reported for year ended 30 June 2021; and
-   headline earnings per share (“HEPS”) of between 1.72 cps and 2.32 cps, being between 76.5%
    and 68.2% lower than the HEPS of 7.3 cps reported for the forecast and between 82.8% and
    76.7% lower than the HEPS of 9.99 cps reported for the year ended 30 June 2021.

The main impact on the above numbers is from an increased provision for credit losses in
accordance with IFRS9 of R6.5m for all receivables more than 60 days past due, irrespective of
whether the amounts have been subsequently received. In the light of cost pressures as well as
cashflow constraints that some of our customers are facing at present it was necessary to
recognize this provision as stipulated by IFRS 9. Shareholders are also advised that the Company
continues to face increased cost pressures on the operating costs caused by high input costs,
increased fuel and shipping costs that are being worsened by a weakening exchange rate.

The financial information on which this trading statement is based has not been reviewed and
reported on by the Company’s auditors.

JOHANNESBURG
28 October 2022

Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 28-10-2022 11:54:00
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