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EPE CAPITAL PARTNERS LIMITED - Quarterly update as at 31 March 2019

Release Date: 24/05/2019 16:38
Code(s): EPE     PDF:  
 
Wrap Text
Quarterly update as at 31 March 2019

EPE CAPITAL PARTNERS LTD
(Incorporated in the Republic of Mauritius)
(Registration number: C138883 C1/GBL)
ISIN: MU0522S00005
Share Code: EPE
("Ethos Capital" or "the Company")

QUARTERLY UPDATE AS AT 31 MARCH 2019

Ethos Capital is an investment holding company, registered and incorporated in Mauritius as a public
company. It is listed on the Johannesburg Stock Exchange and offers shareholders long-term capital
appreciation by making commitments and investments into Funds or Direct Investments that are managed
by Ethos Private Equity (Pty) Limited ("Ethos"), providing the Company with exposure to a diversified
portfolio of unlisted private equity type investments ("Portfolio Companies"). "The Group" refers to the
consolidated results of the Company and its deemed subsidiary.

Below is a voluntary financial update of the Company since the interim results announcement made in
March 2019.

NAV

At 31 March 2019, Ethos Capital Group’s net asset value per share increased to R11.32 (R11.16 at 31
December 2018). Total assets grew to over R1.9 billion with the group net asset value (net of treasury
shares held) at R1.8 billion. The value-weighted average EV/EBITDA valuation multiple of the portfolio was
kept materially the same as 31 December 2018 and the investment portfolio will next be revalued as at 30
June 2019.

Invested capital

Ethos Capital’s invested capital as at 31 March 2019 was R1.3 billion, c. 68% of the 31 March 2019 total
assets. Post the quarter-end, Ethos Capital invested c. R94 million in the delisting and acquisition of the
Torre Analytical Services business. The signed transaction for Echotel to acquire Gondwana is subject to
regulatory approval and is expected to complete in June 2019. Post the completion of the latter, invested
capital is expected to increase to R1.6 billion (c. 81% of total assets), with Ethos Capital having exposure to
seventeen Portfolio Companies that have representation across a diverse set of industries, sectors and
vintages.

Disclaimer

The financial information on which this announcement is based, has not been audited, reviewed and
reported on by the Company’s external auditors.

Ebene, Mauritius (with simultaneous circulation in Johannesburg)
24 May 2019

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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