AFROCENTRIC INVESTMENT CORPORATION LIMITED - Interim results and dividend declaration

Interim results and dividend declaration

AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
(“the Company")

Summarised unaudited interim results for the six months ended 31 December 2019 and dividend
declaration

Introduction to the AfroCentric Group

AfroCentric is a majority black-owned JSE listed investment holding company which operates in and
provides specialised services to the public and private healthcare sectors. AfroCentric is transforming
healthcare by making quality healthcare more accessible and affordable to millions of people. We are
doing this by expanding the Group’s presence in the broader healthcare industry to achieve the ultimate
goal of universal access to healthcare.


Salient Features
                                                        %           Unaudited six        Unaudited six
                                                    change          months ended         months ended
                                                                    31 December          31 December
                                                                            2019                 2018

Total revenue                                          34.8         3 111.3 million     2 307.4 million
Operating profit                                       22.6           439.3 million       358.3 million
Operating profit (excluding lease reversals)           35.0           398.0 million       294.7 million
Healthcare Services Operating profit                     8.8          283.1 million       260.3 million
Healthcare Retail Operating profit                    233.5           114.9 million         34.5 million
Profit before tax                                      12.2           268.7 million       239.6 million
Basic earnings (rands)                                 11.4           134.8 million       121.0 million
Headline earnings (rands)                                8.7          134.7 million       123.9 million
Normalised headline earnings (rands)                   15.8           139.9 million       120.8 million
Basic earnings (cents per share)                         7.6                 23.48                21.83
Headline earnings (cents per share)                      5.0                 23.47                22.35
Normalised headline earnings (cents per share)         11.8                  24.36                21.78
Weighted average number of ordinary shares                            574.2 million       554.4 million

Dividends

The Board has pleasure in announcing that an interim gross dividend per ordinary share of 13 cents,
has been declared for the six months ended 31 December 2019. Dividends are subject to Dividends
Withholding Tax. The payment date for the dividend is 11 May 2020.

• Dividends have been declared out of profits available for distribution.
• Local Dividends Withholding Tax rate is 20%.
• The gross dividend amount is 13 cents per ordinary share.
• The net cash dividend amount is therefore 10.4 cents per ordinary share.
• The Company has 574 241 248 ordinary shares in issue as at the declaration date.
• The Company’s income tax reference number is 9600/148/71/3.

The salient dates relating to the dividend are as follows:
Last day to trade cum dividend                             Tuesday, 5 May 2020
Shares commence trading ex-dividend                        Wednesday, 6 May 2020
Dividend record date                                       Friday, 8 May 2020
Dividend payment date                                         Monday, 11 May 2020

Share certificates for ordinary shares may not be dematerialised or rematerialized between Wednesday,
6 May 2020 and Friday, 8 May 2020, both days inclusive.

Full Announcement

This short-form announcement is the responsibility of the Directors of the Company and is a summary of the
information in the full announcement which is available for viewing on the following websites:

Company’s website: http://www.afrocentric.za.com/inv-reporting.php.

JSE website: https://senspdf.jse.co.za/documents/2020/jse/isse/act/2020ACT.pdf

Any investment decision by investors and/or shareholders should be based on consideration of the full
announcement, copies of which are also available for inspection at our offices and our sponsor’s offices on
work-days during business hours, at no charge:


On behalf of the Board


Dr ATM Mokgokong                                              Mr A Banderker
Chairperson                                                   Group Chief Executive Officer

Johannesburg
13 March 2020

Sponsor: Sasfin Capital (a member of the Sasfin Group)

Date: 13-03-2020 09:00:00
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