WESIZWE PLATINUM LIMITED - Condensed Consolidated Interim Financial Results for the Six Months Ended 30 June 2023

Condensed Consolidated Interim Financial Results for the Six Months Ended 30 June 2023

WESIZWE PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2003/020161/06
Share code: WEZ
ISIN number: ZAE000075859
(“Wesizwe” or “the Company”)


CONDENSED CONSOLIDATED INTERIM FINANCIAL RESULTS FOR THE SIX MONTHS
ENDED 30 JUNE 2023


1.   SALIENT FEATURES

     -   Administration expenditure decreased by 85% to R4.13 million, from R27.63 million in
         the prior corresponding period.
     -   Unrealised foreign exchange loss increased by 379% to R1 791.68 million, from an
         unrealised foreign exchange loss of R374.38 million in the prior corresponding period.
         Of the unrealized foreign exchange loss of R1 791.68 million, R781.82 million was
         capitalised, with the residual accounted for in the statement of profit or loss and other
         comprehensive income. The impact on the statement of profit or loss of the residual
         not being capitalised equates to 62.04 cents per share in the period ended 30 June
         2023. These exchange losses have arisen as a result of the depreciation in the South
         African Rand relative to the US Dollar on foreign denominated loans.
     -   Headline loss per share increased by 55.54 cents per share to a headline loss of 59.63
         cents per share (2022: headline loss of 4.09 cents per share).
     -   Loss per share increased by 55.54 cents per share to a loss of 59.63 cents per share
         (2022: loss of 4.09 cents per share).
     -   The board of directors, after careful consideration, has elected to not declare a
         dividend for the period ended 30 June 2023 (2022: nil).


2.   SHORT-FORM ANNOUNCEMENT

     This short-form announcement is the responsibility of the directors of the Company. It
     contains only a summary of the information 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/WEZ/IntWEZ23.pdf

     A copy of the Full Announcement is also available for viewing on the Company’s website
     at https://www.wesizwe.co.za/cmsAdmin/uploads/wesizwe-interims-june-2023.pdf or
     may be requested in person, at the Company’s registered office or the office of the
     sponsor, at no charge, during office hours.
     Any investment decisions by investors and/or shareholders should be based on
     consideration of the Full Announcement, as a whole.

     These interim results have been reviewed by the Company’s auditors,
     SizweNtsalubaGobodo Grant Thornton Inc. who expressed an unmodified review opinion
     thereon.

Johannesburg
29 September 2023
Sponsor
PSG Capital

Date: 29-09-2023 01:10:00
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