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Mining Exploration Entity and Oil and Gas Exploration Entity Quarterly Report
RENERGEN LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2014/195093/06)
JSE Share code: REN
A2X Share code: REN
ISIN: ZAE000202610
Australian Business Number (ABN): 93 998 352 675
ASX Share code: RLT
(“Renergen” or “the Company”)
MINING EXPLORATION ENTITY AND OIL AND GAS EXPLORATION ENTITY QUARTERLY REPORT
Appendix 5B
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10,
17/12/10, 01/05/13, 01/09/16
Name of entity
RENERGEN LIMITED
ABN Quarter ended (“current quarter”)
93998352675 29 February 2020
Consolidated statement of cash flows Current quarter Year to date (12
ZAR’000 months)
ZAR’000
1. Cash flows from operating activities
1.1 Receipts from customers 755 2 426
1.2 Payments for
(a) exploration & evaluation (268) (1 603)
(b) development - -
(c) production (1 179) (2 511)
(d) staff costs (6 535) (24 374)
(e) administration and corporate costs (887) (4 121)
1.3 Dividends received (see note 3) - -
1.4 Interest received 1 406 5 837
1.5 Interest and other costs of finance paid 35 (188)
1.6 Income taxes paid - -
1.7 Research and development refunds - -
Consolidated statement of cash flows Current quarter Year to date (12
ZAR’000 months)
ZAR’000
1.8 Other (provide details if material)
- ASX Capital raising costs - (6 609)
- Working capital movements (2 952) (7 215)
- VAT refunds adjustment
(3 665) -
- Foreign exchange contract (non-
cash adjustment) (3 065) (3 661)
- Translating OPIC funds received to (12 100) (12 100)
ZAR on date of receipt
1.9 Net cash from / (used in) operating (28 455) (54 119)
activities
2. Cash flows from investing activities
2.1 Payments to acquire:
(a) property, plant and equipment (62 555) (275 365)
(b) tenements (see item 10) - -
(c) investments - -
(d) other non-current assets (2 451) (17 025)
2.2 Proceeds from the disposal of:
(a) property, plant and equipment - -
(b) tenements (see item 10) - -
(c) investments - -
(d) other non-current assets - -
2.3 Cash flows from loans to other entities - -
2.4 Dividends received (see note 3) - -
2.5 Other (provide details if material)
- Purchase of options R9.3 million - (9 256)
- Proceeds on exercise of options 9 518 9 518
- R9.5 million
2.6 Net cash from / (used in) investing (55 488) (292 128)
activities
3. Cash flows from financing activities
3.1 Proceeds from issues of shares 56 762 159 746
3.2 Proceeds from issue of convertible notes - -
3.3 Proceeds from exercise of share options - -
3.4 Transaction costs related to issues of (2 145) (8 635)
shares, convertible notes or options
3.5 Proceeds from borrowings - 283 876
Consolidated statement of cash flows Current quarter Year to date (12
ZAR’000 months)
ZAR’000
3.6 Repayment of borrowings (Settlement of - (5 452)
Convertible note)
3.7 Transaction costs related to loans and - (4 814)
borrowings (OPIC loan facility fee)
3.8 Dividends paid - -
3.9 Other (provide details if material)
- Purchase of additional shares in (22 000) (22 000)
subsidiary (remaining 10% in
Tetra4) – R22 million
12 100 12 100
- Translation of OPIC to ZAR on
receipt date – R12 million
- Lease payments (895) (2 489)
3.10 Net cash from / (used in) financing 43 822 412 332
activities
4. Net increase / (decrease) in cash and
cash equivalents for the period
4.1 Cash and cash equivalents at beginning of
period 205 481 97 956
4.2 Net cash from / (used in) operating (28 455) (54 119)
activities (item 1.9 above)
4.3 Net cash from / (used in) investing activities (55 488) (292 128)
(item 2.6 above)
4.4 Net cash from / (used in) financing activities 43 822 412 332
(item 3.10 above)
4.5 Effect of movement in exchange rates on (24 386) (23 067)
cash held
4.6 Cash and cash equivalents at end of 140 974 140 974
period
5. Reconciliation of cash and cash Current quarter Previous quarter
equivalents ZAR’000 ZAR’000
at the end of the quarter (as shown in the
consolidated statement of cash flows) to the
related items in the accounts
5.1 Bank balances 10 912 159 400
5.2 Call deposits 130 062 40 946
5.3 Bank overdrafts - -
5.4 Other - 5 135
5.5 Cash and cash equivalents at end of 140 974 205 481
quarter (should equal item 4.6 above)
6. Payments to directors of the entity and their associates Current quarter
ZAR'000
6.1 Aggregate amount of payments to these parties included in item 1.2 2 271
6.2 Aggregate amount of cash flow from loans to these parties included -
in item 2.3
6.3 Include below any explanation necessary to understand the transactions included in
items 6.1 and 6.2
Salary payments made to executive directors’ amount to R2.2 million
Non-executive directors are paid bi-annually.
7. Payments to related entities of the entity and their Current quarter
associates ZAR'000
7.1 Aggregate amount of payments to these parties included in item 1.2 -
7.2 Aggregate amount of cash flow from loans to these parties included -
in item 2.3
7.3 Include below any explanation necessary to understand the transactions included in
items 7.1 and 7.2
8. Financing facilities available Total facility amount Amount drawn at
Add notes as necessary for an at quarter end quarter end
understanding of the position ZAR’000 ZAR’000
8.1 Loan facilities* R624 840 R312 242
8.2 Credit standby arrangements - -
8.3 Other (please specify) - -
8.4 Include below a description of each facility above, including the lender, interest rate and
whether it is secured or unsecured. If any additional facilities have been entered into or are
proposed to be entered into after quarter end, include details of those facilities as well.
Loan received from OPIC (Overseas Private Investment Corporation) for $US40 million (R625 million).
An interest rate of 2.11% is charged on the amount drawn down ($US20 million) and a 4%
and 0.50% on the guarantee fee and commitment fees respectively.
As part of the finance agreement signed on 20 August 2019, Tetra4 (Pty) Ltd has ceded in
securitatem debiti to OPIC certain property and rights.
*(USD: ZAR rate of ZAR15.6121 as at 29 Feb 2020 used to translate amounts to ZAR)
9. Estimated cash outflows for next quarter ZAR’000
9.1 Exploration and evaluation (1 612)
9.2 Development -
9.3 Production (1 220)
9.4 Staff costs (7 112)
9.5 Administration and corporate costs (142)
9.6 Other (provide details if material) (88 195)
- Costs associated with the construction of the
New LNG and LHe Plant
9.7 Total estimated cash outflows (98 281)
10. Changes in Tenement reference and Nature of Interest at Interest at end of
tenements location interest beginning quarter
(items 2.1(b) and of quarter
2.2(b) above)
10.1 Interests in N/A N/A N/A N/A
mining tenements
and petroleum
tenements
lapsed,
relinquished or
reduced
10.2 Interests in N/A N/A N/A N/A
mining tenements
and petroleum
tenements
acquired or
increased
Compliance statement
1 This statement has been prepared in accordance with accounting standards and policies which
comply with Listing Rule 19.11A.
2 This statement gives a true and fair view of the matters disclosed.
Notes
1. The quarterly report provides a basis for informing the market how the entity’s activities have been
financed for the past quarter and the effect on its cash position. An entity that wishes to disclose
additional information is encouraged to do so, in a note or notes included in or attached to this
report.
2. If this quarterly report has been prepared in accordance with Australian Accounting Standards,
the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources
and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been
prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule
19.11A, the corresponding equivalent standards apply to this report.
3. Dividends received may be classified either as cash flows from operating activities or cash flows
from investing activities, depending on the accounting policy of the entity.
Johannesburg
31 March 2019
Designated Adviser
PSG Capital
Date: 31-03-2020 09:01:00
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