AFINE INVESTMENTS LIMITED - Trading Statement

Trading Statement

AFINE INVESTMENTS LIMITED
APPROVED AS A REIT
(Incorporated in the Republic of South Africa)
Registration number 2020/852422/06
JSE share code: ANI       ISIN: ZAE000303947
(“Afine” or “the Company” or “the Group”)


TRADING STATEMENT


In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading
statement as soon as it becomes satisfied that a reasonable degree of certainty exists that the financial
results for the next period to be reported on will differ by at least 20% from the financial results for the previous
corresponding period or a profit forecast previously provided to the market in relation to such period.

Shareholders are referred to the pre-listing statement published on 25 November 2021 (“Pre-listing
Statement”), which included a profit forecast for the Group for the year ending 28 February 2022 (“Profit
Forecast”). It should be noted that the Profit Forecast and prior period results contained a large once-off
fair value adjustment and reversal of deferred taxation liability on Afine becoming approved as a REIT.

Accordingly, the Company hereby advises that a reasonable degree of certainty exists that:

–   basic and diluted earnings per share as at 31 August 2022 will be 27.25 cents, representing a decline of
    approximately 90.1% when compared to the basic and diluted earnings per share of 274.48 cents per
    share reported for the period from 1 March 2022 to 31 August 2022; and

–   headline earnings per share as at 31 August 2022 will be 22.45 cents, representing a decline of
    approximately 19.1% when compared to the headline earnings per share of 27.75 cents per share
    reported for the period from 1 March 2022 to 31 August 2022.

The financial information on which this trading statement is based has not been reviewed nor reported on
by the Company’s auditors.

Afine’s unaudited results for the six months ended 31 August 2022 will be published on or about 18 November
2022.

BY ORDER OF THE BOARD
Cape Town
17 November 2022

Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 17-11-2022 03:57:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.