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Half Year Report
RENERGEN LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2014/195093/06)
JSE Share code: REN ISIN: ZAE000202610
Australian Business Number ABN:
93998352675 ASX Share code: RLT
(“Renergen” or “the Company” or “the
Group”)
HALF YEAR REPORT
Appendix 4D
Half year report
Introduced 01/01/03 Amended 17/12/10, 01/01/12
The following information must be given to ASX under listing rule 4.2A.3.
1. Details of the reporting period and the previous corresponding period.
Refer to the Renergen Limited website for details of the Interim Financial Results for the six
months ending 31 August 2019.
https://www.renergen.co.za/results-and-reporting/results-and-reporting-2019/
2. Key information in relation to the following. This information must be identified as
“Results for announcement to the market”.
2.1 The amount and percentage change up or down from the previous
corresponding period of revenue from ordinary activities.
31 August 31 August Decrease in Percentage
2019 2018 Revenue decrease in
compared to Revenue
31 August compared to
2018 31 August
2018
Revenue R1.4 R 1.8 R0.4 22%
31 August 28 February Decrease in Percentage
2019 2019 Revenue decrease in
compared to Revenue
28 February compared to
2019 28 February
2019
Revenue R1.4 R2.9 R1.5 52%
2.2 The amount and percentage change up or down from the previous
corresponding period of profit (loss) from ordinary activities after tax
attributable to members.
31 August 31 August Increase in Percentage
2019 2018 loss increase in
compared to loss
31 August compared to
2018 31 August
2018
Net loss R39 988 R17 467 R22,521 129%
after tax
31 August 28 February Decrease in Percentage
2019 2019 loss decrease in
compared to loss
28 February compared to
2019 28 February
2019
Net loss R39 988 R44 976 R4 988 11%
after tax
2.3 The amount and percentage change up or down from the previous
corresponding period of net profit (loss) for the period attributable to
members.
Same as above
2.4 The amount per security and franked amount per security of final and interim
dividends or a statement that it is not proposed to pay dividends.
Not applicable as no dividends were declared in the six months ending 31
August 2019.
2.5 The record date for determining entitlements to the dividends (if any).
Not applicable as no dividends were declared in the six months ending 31
August 2019.
2.6 A brief explanation of any of the figures in 2.1 to 2.4 necessary to enable the
figures to be understood.
• The Gross loss of R0.4 million (31 August 2018: R0.13 gross profit)
was incurred as a result of the 5-month long Association of Mine
Workers and Construction Union (AMCU) strike in Virginia which saw
a decrease in the Compressed Natural Gas (CNG) volumes sold
during the first two months of the financial year on the pilot project of
10 buses transporting mine employees.
• More than 100% increase in Share based payment expense and
reserve as a result of Share Options granted as part of the ASX listing.
5.1 million share options were awarded to Transaction Advisors at a
fair value of R6.3 million on 06 June 2019, the options are can be
exercised after 4 years.
• Costs associated with capital raised to fund the Virginia Natural Gas
Plant expansion increased the losses in the last six months.
3. Net tangible assets per security with the comparative figure for the previous
corresponding period.
31 August 2019 28 February 31 August 2018
2019
Net tangible 135.07 93.61 6.14
assets per
security (in
cents)
4. Details of entities over which control has been gained or lost during the period,
including the following.
Not applicable, Renergen has not gained or lost control of any entities in the last six
months.
4.1 Name of the entity.
4.2 The date of the gain or loss of control.
4.3 Where material to an understanding of the report – the contribution of such
entities to the reporting entity’s profit from ordinary activities during the period
and the profit or loss of such entities during the whole of the previous
corresponding period.
5. Details of individual and total dividends or distributions and dividend or distribution
payments. The details must include the date on which each dividend or distribution is
payable, and (if known) the amount per security of foreign sourced dividend or
distribution.
Renergen has not declared or paid any dividends in the last six months
6. Details of any dividend or distribution reinvestment plans in operation and the last
date for the receipt of an election notice for participation in any dividend or
distribution reinvestment plan.
Renergen does not plan to declare any dividends in the next six months
7. Details of associates and joint venture entities including the name of the associate or
joint venture entity and details of the reporting entity’s percentage holding in each of
these entities and – where material to an understanding of the report – aggregate
share of profits (losses) of these entities, details of contributions to net profit for each
of these entities, and with comparative figures for each of these disclosures for the
previous corresponding period.
Renergen does not have an associate or joint venture
8. For foreign entities, which set of accounting standards is used in compiling the report
(e.g. International Financial Reporting Standards).
International Financial Reporting Standards
9. For all entities, if the accounts contain an independent audit report or review that is
subject to a modified opinion, emphasis of matter or other matter paragraph, a
description of the modified opinion, emphasis of matter or other matter paragraph.
Auditor’s Review
Mazars, the group’s independent auditor, has reviewed the Condensed
Consolidated Interim Results for the period ended 31 August 2019 and have
expressed an unmodified review conclusion thereon. A copy of the auditor’s
review report is available for inspection at the company’s registered office together
with the financial information identified in the auditor’s report. The auditor’s review
report does not necessarily report on all the information contained in these
financial results. Shareholders are therefore advised that in order to obtain a full
understanding of the nature of the auditor’s engagement they should obtain a
copy of the auditor’s review report together with the accompanying financial
information from the company’s registered office.
Johannesburg
27 September 2019
Designated Adviser
PSG Capital
Date: 27/09/2019 04:24:00
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