RECM AND CALIBRE LIMITED - Abridged Audited Annual Financial Results For The Year Ended 31 March 2020

Abridged Audited Annual Financial Results For The Year Ended 31 March 2020

RECM and Calibre Limited
(Incorporated in the Republic of South Africa)
Registration number 2009/012403/06
Preference Share Code: RACP
ISIN: ZAE000145041
("RAC" or "the Company")

SHORT FORM ANNOUNCEMENT IN RELATION TO THE ABRIDGED AUDITED ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31 MARCH 2020

Shareholders are advised that the Company’s abridged annual financial results for the twelve months ended
31 March 2020 were published on SENS on 30 July 2020 (“Full Announcement”).

Financial highlights

The financial results for the year ended 31 March 2020 when compared to the twelve months ended 31
March 2019 (“the Comparative Period”), are set out below:

    -   Net asset value per share (ordinary and preference shares) decreased by 24% to R20.33 from
        R26.92 for the Comparative Period.

    -   Headline loss and basic loss per share (ordinary and preference shares) increased to (659) cents
        from (85) cents for the Comparative Period.

    -   Revenue increased to R1 572 101 from R1 523 370 and net loss before tax increased to (R337 098
        119) from (R43 489 550) for the Comparative Period.

    -   No dividend has been declared in respect of the current or Comparative Period.

Key Audit Matters

The independent auditor’s report includes a section on key audit matters. The key audit matter raised in the
auditor’s report relates to the fair value estimation of unlisted financial instruments.

Ernest & Young Inc. has issued an unmodified audit opinion on the audited financial statements for the year
ended 31 March 2020.

Short-form announcement

This short-form announcement is the responsibility of the directors of the Company. This short-form
announcement is only a summary of the information contained in the Full Announcement and does not
contain full or complete details. Any investment decisions by investors and/or shareholders should be based
on consideration of the Full Announcement. The Full Announcement is available on the Company’s website
http://racltd.co.za/sens/ and can be accessed using the following JSE link:

https://senspdf.jse.co.za/documents/2020/jse/issh/rech/2020AFSRC.pdf

A copy of the Full Announcement may be requested from the Company by contacting info@racltd.co.za.


Cape Town
30 July 2020

Sponsor
Questco Corporate Advisory (Pty) Ltd

Date: 30-07-2020 11:37:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.