ARDEN CAPITAL LIMITED - Condensed Consolidated Financial Results for the six months ended 30 June 2020

Condensed Consolidated Financial Results for the six months ended 30 June 2020

Arden Capital Limited
(formerly Brainworks Limited)
(Registration number: 115883 C1/GBL)
Share Code: ACZ
ISIN: MU0548S00026
(“Arden Capital” or the “Company”)

CONDENSED CONSOLIDATED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2020

The board of directors of Arden Capital (the “Board”) presents the condensed consolidated financial
results of the Company and its subsidiaries (the “Group”) for the six months ended 30 June 2020
(“Interim Results”).

Financial Highlights of the Group

The Interim Results when compared to the six months ended 30 June 2019 (“Comparative Period”),
are set out below:

 -    revenue decreased by 57% to US$9.2 million compared to US$21.5 million for the Comparative
      Period;
 -    earnings per share decreased by 25% to 2.54 cents per share compared to 3.39 cents per share
      for the Comparative Period;
 -    headline earnings per share decreased by 93% to 0.28 cents per share compared to the restated
      headline earnings per share of 3.92 cents for the Comparative Period; and

No dividends were declared or paid during the period under review or during the Comparative Period.

The Company’s reporting currency is United States Dollars.

Qualified Review Conclusion

The Company’s auditors, Deloitte, have issued a qualified review conclusion on the Interim Results as
a result of non-compliance with International Accounting Standard (“IAS”) 21 – The Effects of Changes
in Foreign Exchange Rates on comparative information. A copy of the full review conclusion report is
available for inspection on the company’s website http://www.arden-capital.com/investor-
relations/financial-results-reports.

Short form announcement

This short form announcement is the responsibility of the Board and is only a summary of the information
in the full announcement and does not contain full or complete details. Any investment decisions by
investors and/or shareholders should be based as a whole on consideration of the reviewed
consolidated financial results for the six months ended 30 June 2020 (“Full Announcement”) which
may be downloaded from SENS on
https://senspdf.jse.co.za/documents/2020/jse/ISSE/ACZE/Oct20Int.pdf or the Company’s website at

http://www.arden-capital.com/investor-relations/financial-results-reports.

The Full announcement is also available for inspection at the registered office of Arden Capital and the
offices of the Sponsor, at no charge, weekdays during office hours 08:00 to 16:30.

A copy of the Full Announcement may be requested from the Company by contacting
investorrelations@arden-capital.com.

Grand Baie, Mauritius
22 October 2020

Sponsor
Questco Corporate Advisory Proprietary Limited

Date: 22-10-2020 05:28:00
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