Wrap Text
Audited Results for the year ended 28 February 2025, Cash Dividend, Integrated Annual Report and Notice of AGM
Mahube Infrastructure Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2015/115237/06)
ISIN: ZAE000290763
JSE code: MHB
("Mahube" or the "Company")
SHORT-FORM ANNOUNCEMENT: AUDITED RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2025
CASH DIVIDEND DECLARATION
DISTRIBUTION OF INTEGRATED ANNUAL REPORT
NOTICE OF ANNUAL GENERAL MEETING
BROAD-BASED BLACK EMPOWERMENT ANNUAL COMPLIANCE REPORT
Building community wealth
Shareholders of Mahube are advised that the Company published its integrated annual report ("Integrated Report"),
containing its audited annual financial statements for the year ended 28 February 2025 ("Annual Results") and the notice of
annual general meeting ("AGM") on the websites of the JSE Limited and the Company on 30 May 2025. The summarised
Annual Results and notice of AGM were posted to the relevant shareholders on Friday, 30 May 2025.
ANNUAL RESULTS
SALIENT FEATURES
Dividends received of R21.0 million compared to R50.1 million in the comparative period last year
Total revenue down to R49.8 million compared to R68.2 million in comparative period last year
Basic earnings and headline earnings of 61.26 cents per share compared to a basic earnings and headline earnings of
95.85 cents per share in comparative period last year
Tangible NAV per share of R10.73 compared to R10.52 in the comparative period last year
Final cash dividend declaration of 15.00 cents per share
INVESTMENT PORTFOLIO
Mahube is an infrastructure company that offers investors exposure to infrastructure assets in Africa. The vision of
Mahube is to contribute meaningfully to the rapid and cost-effective development, operation and upkeep of key
infrastructure needed to enable access to public services (basic, social and economic) in urban nodes across Africa, at
an acceptable level of quality and tariff without undermining the returns to our financial backers. Mahube aims to provide
attractive risk-adjusted financial returns that are characterised by predictable and regular cash flows generated from
infrastructure assets, exercising of management control over the invested infrastructure assets over the long-term,
capital growth from rendering disruptive infrastructure-underpinned solutions to market inefficiencies.
To date Mahube has invested in and holds equity interests in two wind farms and three solar photovoltaic farms with a
collective power generation capacity of approximately 400 MW. Four of the renewable energy assets were licensed
during Bid Window Round 1 of the Renewable Energy Independent Power Production Procurement Programme in
South Africa. The fifth asset was licensed during Bid Window Round 2. Each asset generates electricity that it sells to
Eskom under a 20-year power purchase agreement.
CONDENSED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 28 FEBRUARY 2025
%
28 February 2025 29 February 2024
change
Revenue (R'000) 49 767 68 172 (27.0)
Net profit (R'000) 33 785 52 860 (36.1)
Earnings and headline earnings per share (cents) 61.26 95.85 (36.1)
Tangible net asset value per share 10.73 10.52 2.0
The total revenue earned by the Company during the year was R49.8 million compared to an amount of R68.2 million in the
prior year.
The dividend income portion of this total revenue was R21.0 million decreasing from R50.1 million in the prior year. The
higher dividends in the comparative period last year resulted from receipt of a special dividend from two of the solar
photovoltaic projects in which Mahube is invested, following the refinancing of these projects.
The favourable change in the fair value of the financial assets, which has increased the revenue by R28.5 million compared
to R17.2 million in the comparative period, resulted mainly from more favourable macro-economic indicators.
Operating expenses for the period increased to R15.9 million compared to R15.1 million in the comparative period last year.
The tangible net asset value per share of the Company increased from R10.52 in the comparative period last year to R10.73
in the current period.
DIVIDEND DISTRIBUTION
• The Board has pleasure in announcing that a gross dividend per ordinary share of 15.00 cents, has been declared for
the year ended 28 February 2025. Dividends are subject to Dividends Withholding Tax. The payment date for the
dividend is Monday, 28 July 2025.
• Dividends have been declared from income reserves.
• Local Dividends Withholding Tax rate is 20%.
• The gross dividend amount is 15.00000 cents per ordinary share.
• The net cash dividend amount is therefore 12.00000 cents per ordinary share.
• The Company has 55 151 000 ordinary shares in issue as at the declaration date.
• The Company's income tax reference number is 9473/844/17/4.
SALIENT DATES
Last day to trade cum the ordinary share dividend Tuesday, 22 July 2025
Ordinary shares commence trading ex-dividend Wednesday, 23 July 2025
Ordinary share dividend record date Friday, 25 July 2025
Payment date of ordinary share dividend Monday, 28 July 2025
Share certificates may not be dematerialised or rematerialised between Wednesday, 23 July 2025 and Friday, 25 July 2025,
both days inclusive.
STATEMENT
This short-form announcement is the responsibility of the Directors and is a summary of the information contained in the
Annual Results and does not contain full or complete details. Furthermore, this short-form announcement has not been
reviewed, audited or reported on by Mahube's auditors but has been extracted from the Annual Results for the year ended
28 February 2025, which were prepared by the Financial Director, Petro Lewis CA(SA) and have been independently audited
by the Company's auditors, BDO South Africa Inc. Their unmodified audit opinion is available on the Company's website at
https://mahube.africa/wp-content/uploads/2025/05/Independent-Auditors-Report-2025.pdf.
AVAILABILITY
Any investment decisions by shareholders and/or investors should be based on the Integrated Report containing the Annual
Results released on SENS and published as follows:
Integrated Report containing the Annual Results:
JSE website:
https://senspdf.jse.co.za/documents/2025/jse/isse/mhbe/mah2025.pdf
Integrated Report and AGM notice:
Company's website at:
https://mahube.africa/wp-content/uploads/2025/05/Mahube-Integrated-Annual-Report-2025.pdf
The Integrated Report containing the Annual Results is also available for inspection, free of charge, during normal business
hours at Mahube's business address, 3rd Floor, Penthouse 5, 4 The High Street, Melrose Arch, 2196, or can be requested
per email to info@mahube.africa.
NOTICE OF AGM
Notice is hereby given that the AGM of Mahube shareholders will be held at 10:00 at African Pride Melrose Arch Hotel, 1
Melrose Blvd, Melrose Arch, Johannesburg and by means of electronic participation, on Wednesday, 17 September 2025,
to transact the business as stated in the Notice of AGM.
SALIENT DATES
Record date to determine which shareholders are entitled to receive the
notice of AGM Friday, 23 May 2025
Date of posting of this notice of AGM Friday, 30 May 2025
Last day to trade in order to be eligible to attend and vote at the AGM Tuesday, 9 September 2025
Record date to determine which shareholders are entitled to attend and vote
at the AGM Friday, 12 September 2025
Forms of proxy to be lodged at Transfer Secretaries by 10:00 on Monday, 15 September 2025
AGM of the Company to be held at 10:00 on Wednesday, 17 September 2025
Results of the AGM announced on SENS Wednesday, 17 September 2025
Forms of proxy may be presented at any time prior to, or at, the AGM. If forms of proxy are directed to the Company's
transfer secretaries these must be lodged by no later than 10:00 on Monday, 15 September 2025.
AVAILABILITY OF BROAD-BASED BLACK ECONOMIC EMPOWERMENT ANNUAL COMPLIANCE REPORT
Shareholders are hereby notified in accordance with the Listings Requirements of the JSE Limited, that the Company's
annual compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act (Act 53 of
2003), read with the Broad-Based Black Economic Empowerment Amendment Act (Act 46 of 2013), has been published
and is available on the Company's website, www.mahube.africa.
By order of the Board
30 May 2025
JSE Sponsor to Mahube
Questco Corporate Advisory Proprietary Limited
Date: 30-05-2025 01:26:00
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.
Sharenet Sites 
