DENEB INVESTMENTS LIMITED - Reviewed Condensed Consolidated Financial Results For The Year Ended 31 March 2023 And Distribution Declaration

Reviewed Condensed Consolidated Financial Results For The Year Ended 31 March 2023 And Distribution Declaration

DENEB INVESTMENTS LIMITED
Registration number: 2013/091290/06
(Incorporated in the Republic of South Africa)
JSE share code: DNB
ISIN: ZAE000197398
(“Deneb” or the “Group”)

REVIEWED CONDENSED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR
ENDED 31 MARCH 2023 AND DISTRIBUTION DECLARATION

1.   SALIENT FEATURES

     Revenue increased by R407 million (14%) to R3 311 million, from R2 904 million in the
     prior corresponding period.

     Earnings per share (“EPS”) increased by 2 cents per share (7%) to 31 cents per share,
     from 29 cents per share in the prior corresponding period. Headline earnings per share
     (“HEPS”) decreased by 5 cents per share (15%) to 28 cents per share, from 33 cents per
     share in the prior corresponding period.

     Net asset value per share (“NAVPS”) increased by 21 cents per share (5%) to 406 cents
     per share, from 385 cents per share in the prior corresponding period.

     Profit increased by R11 million (9%) to R135 million, from R124 million in the prior
     corresponding period.

     Distribution per share increased by 1 cent per share (11%) to 10 cents per share, from
     9 cents per share in the prior corresponding period.

     During the year, Deneb received insurance proceeds for business interruption and flood
     damage. As these proceeds are non-recurring, we are of the opinion that providing
     earnings on an adjusted basis is meaningful disclosure to shareholders:
     Adjusted headline earnings per share (“HEPS”) decreased by 15 cents per share (45%)
     to 18 cents per share, from 33 cents per share in the prior corresponding period.

     Adjusted earnings per share (“EPS”) decreased by 10 cents per share (34%) to 19 cents
     per share, from 29 cents per share in the prior corresponding period.
2.   DISTRIBUTION

     Notice is hereby given that a final distribution of 10 cents (gross) per ordinary share in
     respect of the 12 months ended 31 March 2023 has been declared and approved by the
     board of directors out of capital reserves through the reduction of contributed tax capital
     (“distribution”).
     In compliance with the requirements of Strate and the JSE Limited, the following dates
     are applicable:
     Distribution declared                                           Thursday, 25 May 2023
     Last day to trade cum distribution                              Monday, 12 June 2023
     Shares trade ex distribution                                    Tuesday, 13 June 2023
     Record date                                                     Thursday, 15 June 2023
     Payment date                                                    Monday, 19 June 2023
     
Share certificates may not be dematerialised or rematerialised between Wednesday, 13
     June 2023 and Thursday, 15 June 2023, both days inclusive.

3.   SHORT-FORM ANNOUNCEMENT

     This short-form announcement is the responsibility of the directors of Deneb. It contains
     only a summary of the information included in the full announcement (“Full
     Announcement”) and does not contain full or complete details. The Full Announcement
     can be found at:

     https://senspdf.jse.co.za/documents/2023/JSE/ISSE/DNBE/FY23.pdf

     A copy of the Full Announcement is also available for viewing on the Company’s website
     at www.deneb.co.za or may be requested in person, at Deneb’s registered office or the
     offices of the Sponsor, at no charge, during office hours.

     The financial information in this short-form announcement has been extracted from the
     reviewed condensed consolidated financial results of the Group for the year ended 31
     March 2023.The financial results have been reviewed by the Group’s auditors who
     expressed an unmodified review conclusion thereon.

     Any investment decisions by investors and/or shareholders should be based on
     consideration of the Full Announcement, as a whole.

Cape Town
25 May 2023

Sponsor
PSG Capital

Date: 25-05-2023 02:00:00
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