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Trading Announcement – Reissue Of Year End Financial Results
Letshego Holdings Limited
Incorporated in the Republic of Botswana
Registration number 98/442
(JSE Code: “BILETS”)
(“Letshego Holdings” or “the Company” or “the issuer”)
TRADING ANNOUNCEMENT – REISSUE OF YEAR END FINANCIAL RESULTS
Letshego Holdings Limited (“LHL” / “the Company” / “Letshego”) was incorporated
in 1998, is headquartered in Gaborone and has been publicly listed on the
Botswana Stock Exchange (BSE) since 2002. It is an inclusive finance focused
group with consumer, micro-lending and deposit-taking subsidiaries across sub-
Saharan Africa.
On the 5th March 2018 LHL published an extract of the reviewed consolidated
results for the year ended 31 December 2017. These results included a disclosure
around an uncertain tax treatment. The Board has now received further advice
relating to this tax treatment and has amended the 2017 financial statements (and
relevant prior years) to include a specific provision for any potential liability
that may arise.
The result is that the consolidated net asset value of Letshego has reduced by
4.1%. The revised Profit After Tax for the year ended 31 December 2017 is 8.6%
lower than as published on the 5th March 2018; however, the increase in Profit
After Tax from the restated 2016 results is a 12% increase. There is no change to
the year-end dividend of 9.0 thebe per share payable to Shareholders registered
on the 29th March 2018 and the special dividend of 4.1 thebe per share that is
being returned to Shareholders from the proceeds of the IPO of Letshego Namibia.
More details are included in the reissued reviewed consolidated results dated 12
March 2018.
For and on behalf of the board
E Banda
Chairman
12 March 2018
Debt sponsor in South Africa
The Standard Bank of South Africa Limited, acting through its Corporate and
Investment Banking division
Sponsoring broker in Botswana
African Alliance Securities
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