WESIZWE PLATINUM LIMITED - Audited Annual Consolidated Results for the Year Ended 31 December 2023

Audited Annual Consolidated Results for the Year Ended 31 December 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" or "the Group")


AUDITED ANNUAL CONSOLIDATED RESULTS FOR THE YEAR ENDED 31 DECEMBER
2023


1.   SALIENT FEATURES
     -   Administration expenditure decreased by 55% to R27.8 million, from R62.01 million in
         the prior corresponding period.
     -   Headline loss per share decreased by 6.88 cents per share to a headline loss of 1.36
         cents per share (2022: headline loss of 8.24 cents per share).
     -   Loss per share decreased by 6.69 cents per share to a loss of 1.55 cents per share
         (2022: loss of 8.24 cents per share).
     -   The board of directors, after careful consideration, has elected to not declare a
         dividend for the year ending 31 December 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/2024/JSE/ISSE/WEZ/AnnWEZ23.pdf

     A copy of the Full Announcement is also available for viewing on the Company's website
     at https://wesizwe.co.za/wp-content/uploads/2024/03/wesizwe-afs-december-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 annual results have been audited by the Company's auditors,
     SizweNtsalubaGobodo Grant Thornton Inc. who expressed an unmodified audit opinion
     thereon.

     It must however be noted that there is a material uncertainty relating to the Group's going
     concern as the current liabilities exceed the current assets. The ability of the Group to
     continue as a going concern is dependent on the support from the majority shareholder
     and the majority shareholder not calling the current shareholder loans. The majority
     shareholder has indicated their continued support and the auditors have expressed that
     their opinion is not modified in respect of this matter.

     The full auditor's report includes details of key audit matters. This auditor's report is
     available, along with the annual financial statements, on the Company's website at
     https://wesizwe.co.za/wp-content/uploads/2024/03/wesizwe-afs-december-2023.pdf

Johannesburg
28 March 2023

Sponsor
PSG Capital

Date: 28-03-2024 05:31:00
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