ATTACQ LIMITED - Consolidated financial results for the year ended 30 June 2022

Consolidated financial results for the year ended 30 June 2022

ATTACQ LIMITED
Incorporated in the Republic of South Africa
Registration number 1997/000543/06
JSE share code: ATT ISIN: ZAE000177218
(Approved as a REIT by the JSE)
(Attacq or company or group)


SHORT-FORM ANNOUNCEMENT: CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 30 JUNE 2022


    •   Dividends resumed with 50.0 cents per share declared for the financial year (2021: Rnil)
    •   Distributable income per share increased to 62.8 cents (2021: declined to 46.8 cents)
    •   Net asset value per share increased to R17.49 (2021: decreased to R15.75)
    •   Gearing improved to 37.2% (2021: gearing improved to 43.3%)
    •   Growth in weighted average trading density over 12 months of 12.6% (2021: decrease of 0.4%)
    •   Completed Waterfall City developments totalling 47 623m2 of GLA (2021: 33 332m2 of GLA)

FINANCIAL PERFORMANCE
                                                       30 June 2022             30 June 2021           % change
 Distributable income per share       cents                    62.8                     46.8               34.2
 Dividend per share                   cents                    50.0                        -                nmf
 Total assets                         R’000              21 626 282               22 589 172               (4.3)
 Net asset value per share            cents                   1 749                    1 575               11.0
 Gross revenue                        R’000               2 521 573                2 390 241                5.5
 Earnings per share                   cents                   167.3                     21.9              663.9
 Headline earnings per share          cents                   131.5                    121.4                8.3

This short-form announcement is the responsibility of the directors and the contents were approved by the board
on 12 September 2022. This short-form announcement is a summary of the full announcement released on SENS
and published on 13 September 2022 and does not include full or complete details. The short-form announcement
has not been audited or reviewed by the company's external auditors. The full announcement is available on the
company's website at www.attacq.co.za/investor-hub and can be accessed using the following JSE link:
https://senspdf.jse.co.za/documents/2022/jse/isse/ATT/2022FYRES.pdf

The auditor, Ernst & Young Inc., has issued an unmodified opinion on Attacq's audited consolidated annual
financial statements for the year ended 30 June 2022. The following key audit matter was considered as part of
their audit: valuation of investment property, including completed developments, developments under
construction and leasehold land. The full audit report and consolidated annual financial statements are available
on the Attacq website: https://www.attacq.co.za/investor-hub/#finresults.

The full announcement is available for inspection at the registered offices of the company or its sponsor, at no
charge, during office hours from Tuesday, 13 September 2022 to Tuesday, 20 September 2022. Copies of the full
announcement may be requested via email from brenda@attacq.co.za or sponsor@javacapital.co.za. Any
investment decision should be based on the full announcement available on the company’s website.

DIVIDEND
The board declared a final gross cash dividend of 50.00000 cents per share, for the year ended 30 June 2022, out
of the company's distributable income. A detailed announcement, including salient dates and the tax treatment
applicable to the dividend was published on Tuesday, 13 September 2022 via SENS announcement. The group
expects to deliver between an 8.0% and 10.0% dividend growth off a pay-out ratio of 80% of distributable
income. The guidance has not been reviewed or reported on by Attacq’s auditors.

By order of the board
Attacq Limited
13 September 2022

Independent non-executive directors
P Tredoux (chairperson)
HR El Haimer (lead independent)
TP Leeuw
IN Mkhari
S Shaw-Taylor
AE Swiegers
JHP van der Merwe

Executive directors
JR van Niekerk (CEO)
R Nana (CFO)

Company secretary
W Modisapodi

Registered office
ATT House, 2nd Floor, Maxwell Office Park, 37 Magwa Crescent, Waterfall City, 2090

Postal address
PostNet suite 016, Private Bag X81, Halfway House, 1685

Transfer secretaries
Computershare Investor Services Proprietary Limited

Sponsor
Java Capital

Independent auditors
Ernst & Young Inc.

Date: 13-09-2022 07:05:00
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.