Wrap Text
Condensed unaudited consolidated interim financial results for the three and nine months ended 30 June 2020
Lighthouse Capital Limited
Incorporated in the Republic of Mauritius on 14 August 2014
Registration number: C124756 C1/GBL ISIN: MU0461N00015
SEM share code: GFP.N0000 and
JSE share code: LTE
LEI: 549300UG27SWRF0X2U62
("Lighthouse" or "the company" or "the group")
www.lighthousecapital.mu
Short-form announcement: condensed unaudited consolidated interim financial
results for the nine months ended 30 June 2020
Lighthouse is a global business licence company registered in Mauritius. The
company has primary listings on both the Official Market of the Stock Exchange
of Mauritius Ltd ("SEM") and the Main Board of the Johannesburg Stock Exchange
Limited ("JSE"). Lighthouse invests globally in direct property, and in listed
real estate and infrastructure securities.
Unaudited Unaudited
for the for the
nine months nine months
ended ended Movement
Jun 2020 Jun 2019 %
Total revenue (EUR) 20 573 477 21 815 928 (5,7)
Basic and diluted
loss per share (EUR cents) (9,13) (6,44) (41,8)
Headline loss and diluted
headline loss per share
(EUR cents) (8,85) (6,41) (38,1)
Distribution (EUR cents
per share) - - -
Management account information:
Net asset value per share
(EUR cents) 42,00 53,27 (21,2)
Gearing (%) # 23,4 30,9 (24,3)
# Gearing is calculated by dividing total interest-bearing borrowings, adjusted
for cash on hand and equity swap derivative margin, by the total of investments
in property, listed securities and loans advanced.
Outlook
Lighthouse is in a strong financial position and the board's policy is
to consider and declare distributions on a semi-annual basis for June and
December.
NEPI has withdrawn its 2020 earnings guidance and Hammerson announced that
it will resume paying dividends in the second half of 2020. In light of
this uncertainty relating to dividends being received from the listed
investments, no distribution guidance is provided for the remainder of
this financial year. Lighthouse will declare a distribution for the nine
months to December 2020 as part of its final results announcement in
February 2021.
The board remains mindful of the structural impact of COVID-19 and that the
road to recovery will present both opportunities and challenges. Lighthouse
is well positioned to take advantage of these opportunities.
This short-form announcement is the responsibility of the directors and is
only a summary of the information in the full announcement and does not
include full or complete details. The full announcement was released on
SENS on 14 August 2020 and can be accessed by visiting the company's website
at https://www.lighthousecapital.mu/financials/ or by following this
hyperlink: https://senspdf.jse.co.za/documents/2020/jse/isse/LTEE/FY_Q32020.pdf
The full announcement is available for inspection at the registered offices
of the company or its sponsor, at no charge, during office hours from Monday,
17 August 2020 to Monday, 24 August 2020. Any investment decision should be
based on the full announcement published on SENS and available on the company's
website.
By order of the board
Intercontinental Trust Ltd
Company secretary
Mauritius - 14 August 2020
Directors
Mark Olivier (chairperson); Stephen Delport (CEO)*; Justin Muller*;
Kobus van Biljon*; Jan Wandrag*; David Axten; Stuart Bird#;
Karen Bodenstein; Des de Beer; Paul Edwards; Barry Stuhler;
(*executive director; #alternate director)
Changes to the board
Mr Des de Beer was appointed to the board as a non-independent non-executive
director with effect from 27 May 2020. Mr Stuart Bird, who was an existing
member of the board, has been appointed as an alternate director to
Mr Des de Beer.
Company secretary: Intercontinental Trust Ltd
Registered address: C1-401, 4th Floor, La Croisette, Grand Baie, Mauritius
Transfer secretary in South Africa: Link Market Services South Africa
Proprietary Ltd
JSE sponsor: Java Capital
SEM authorised representative and sponsor: Perigeum Capital Ltd
Date: 14-08-2020 02:40:00
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