Wrap Text
Short Form Announcement - Unaudited Condensed Consolidated Interim Results for the six months ended 28 February 2023
African Equity Empowerment Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: AEE ISIN: ZAE000195731
(“AEEI” or “the Group” or “the Company”)
SHORT FORM ANNOUNCEMENT - UNAUDITED CONDENSED CONSOLIDATED
INTERIM RESULTS FOR THE SIX MONTHS ENDED 28 FEBRUARY 2023
FINANCIAL HIGHLIGHTS
Reclassified
28 February 28 February
2023 2022
R’000 R’000 % Change
Revenue from continuing operations 344 634 283 421 22
Revenue from discontinued operations 1 018 901 783 311 30
Net cash utilised in operating activities (368 715) (239 420) (54)
Loss before tax from continuing operations (159 268) (2 166) (7 253)
Loss before tax from discontinued operations (146 549) (84 150) (74)
Basic loss per share (cents) from continuing
operations (2 821) (8) (35 163)
Basic loss per share (cents) from
discontinued operations (623) (2 363) 74
Headline loss from continuing operations (138 511) (4 891 (2 732)
Headline loss from discontinued operations (30 838) (64 109) 52
Headline loss per share (cents) from
continuing operations (2 821) (100) (2 732)
Headline loss per share (cents) from
discontinued operations (628) (1 306) 52
Normalised headline earnings from continuing
operations* 26 340 2 638 899
Normalised headline loss from discontinued
operations* (42 065) (42 329) 1
Normalised headline earnings per share
(cents) from continuing operations 536 54 899
Normalised headline earnings per share
(cents) from discontinued operations (857) (862) 1
Net asset value per share (cents) 873 1 058 (17)
Total assets 5 510 243 6 345 636 (13)
*Normalised earnings/(losses) were calculated as follows:
Reclassified
28 February 28 February
2023 2022
Continuing operations R’000 R’000
Headline loss (138 511) (4 891)
Fair value adjustments - 9 702
Net impairments, impairment reversals and write-offs 210 269 -
Tax effects on adjustments (45 418) (2 173)
Normalised headline earnings from continuing operations 26 340 2 638
Reclassified
28 February 28 February
2023 2022
Discontinued operations R’000 R’000
Headline loss (30 838) (64 109)
Fair value adjustments (46 651) 26 835
Net impairments, impairment reversals and write-offs 32 331 956
Tax effects on adjustments 3 093 (6 011)
Normalised headline loss from discontinued operations (42 065) (42 329)
Shareholders are hereby advised that AEEI’s unaudited condensed consolidated interim results for the six
months ended 28 February 2023 are available on AEEI’s website at https://aeei.co.za/sens-announcement/
and can be viewed at https://senspdf.jse.co.za/documents/2023/jse/isse/aee/aeei.pdf
The board of directors (“Board” or “Directors”) has not declared a final dividend for the six months ended
28 February 2023.
STATEMENT OF COMPLIANCE AND BASIS OF PREPARATION
This short-form announcement contains only a summary of the information contained in the full
announcement and does not contain the full and complete details and is the responsibility of the Directors.
The interim condensed consolidated financial statements for the six months ended 28 February 2023 have
not been reviewed by the Company’s auditors.
Please refer to the full announcement for additional information. The full announcement has been released
on SENS and is also available for viewing on AEEI’s website at https://aeei.co.za/sens-announcement/ or
may be requested from the Company via cornell@aeei.co.za or obtained in person, at no charge during office
hours, at the registered office of the Company or can be obtained electronically from either of the joint
sponsors by sending an email to sponsor@vunanicapital.co.za or sponsorteam@merchantec.com during
business hours. Any investment decisions by investors and/or shareholders should be based on
consideration of the full announcement.
APPRECIATION
We wish to thank our employees, Group executives, management, our Board of directors, as well as our
strategic partners, stakeholders and business partners for their loyalty and dedication.
Mrs Aziza Amod Mrs Valentine Dzvova
Non-Executive Chairperson Chief Executive Officer
Cape Town
13 June 2023
DIRECTORATE AND STATUTORY INFORMATION
Directors
Valentine Dzvova (Chief Executive Officer); Aziza Amod* (Chairperson); Jowayne Van Wyk (Chief Financial
Officer); Gaamiem Colbie*; Willem Raubenheimer*^ (Lead Independent Director); Bongikhaya Qama*;
Stephen Nthite*^; Membathisi Mdladlana*^ and Carin-Lee Geuking-Cohausz*^
*Non-executive
^Independent
Company Secretary: Cornell Kannemeyer Email: cornell@aeei.co.za
Business address: 10th Floor Convention Tower, Corner Heerengracht and Walter Sisulu Avenue,
Foreshore, Cape Town, Western Cape, 8001
Transfer secretaries: JSE Investor Services Proprietary Limited, One Exchange Square, 2 Gwen Lane,
Sandown, Sandton, 2196
Joint Auditors: Crowe JHB
3 Sandown Valley Crescent, Sandown, Johannesburg, 2196
Thawt Inc.
3 Monte Vista Blvd, Monte Vista, Cape Town, 7460
Joint Sponsors: Vunani Sponsors Proprietary Limited
Vunani House, Vunani Office Park, 151 Katherine Street, Sandown,
Johannesburg, 2196
Merchantec Capital
13th Floor, lllovo Point, 68 Melville Road, lllovo, 2196
Date: 13-06-2023 05:22:00
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