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RH BOPHELO LIMITED - Reviewed Condensed Provisional Results For The Year Ended 29 February 2020

Release Date: 31/07/2020 17:46
Code(s): RHB     PDF:  
 
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Reviewed Condensed Provisional Results For The Year Ended 29 February 2020

 RH BOPHELO LIMITED
 Incorporated in the Republic of South Africa
 (Registration number: 2016/533398/06)
  JSE & RSE Share Code: RHB, ISIN: ZAE000244737
 (“RHB” or “the Company”)


 SHORT-FORM ANNOUNCEMENT OF THE CONDENSED REVIEWED YEAR END FINANCIAL RESULTS
 FOR THE YEAR ENDED 29 FEBRUARY 2020


 The Board of Directors ("the Board") of the Company is pleased to present the provisional reviewed results for
 the year ended 29 February 2020.

 FINANCIAL OVERVIEW
 The key financial indicators reflected in these financial results are:

   •   Net asset value increased by 22% year on year, from a balance of R530 million to R647 million;
   •   Investment income increased by 156% year on year, from R41 million to R105 million;
   •   Total income before tax increased by 221% year on year, from R28 million to R90 million;
   •   Total income after tax increased by 233% year on year, from R21 million to R70 million;
   •   Basic earnings per share and headline earnings per share increased by 212% year on year;
   •   Net asset value per share increased by 12%, current year R11,56 compared to prior year R10,34;
   •   The Company and its investments remain liquid and solvent, with sufficient resources to continue
       operating into the foreseeable future; and
   •   No dividends were declared in the current year period and prior year, as the company is still expanding
       its capital base, and taking advantage of opportunities in the healthcare and financial services sector.


                                                                                       Restated*
                                                                          Feb-20         Feb-19
                                                                               R               R
 Total investment income                                         105 386 661          41 087 136
 Other income                                                      1 984 110             230 475
 Total expenses                                                 (16 912 042)        (13 174 556)
 Total income before tax                                          90 458 729          28 143 055
 Income tax                                                     (20 469 771)          (6 982 166)
 Total income after tax                                           69 988 958          21 160 889


 Earnings per share (cents)
 Basic headline and earnings per share (cents)                             131                   42
 WANOS                                                            53 592 090          50 938 356

  Note: There are no dilutive instruments in issue

 Net Asset Value                                                 646 608 844       530 119 886
 Cash and cash equivalents                                       120 069 140       373 548 658
 Number of shares in issue                                        55 934 179        51 250 000


 Net Asset Value per share (R)                                             11,56         10,34
 Tangible Net Asset Value per share (R)                                    11,56         10,34

*Prior year amounts have been restated due to a reclassification of certain amounts in the statement of
profit or loss and other comprehensive and in the statement of financial position.
SHORT-FORM NOTICE

This short-form announcement is the responsibility of the Directors of the Company. It is a summary of the
full   announcement     released   on    SENS       and    published     on   the    company’s    website
(https://www.rhbophelo.co.za/investment/sens-announcements) on 31 July 2020, and does not contain full
or complete details.

This announcement is itself not independently reviewed but extracted from independently reviewed results,
on which Deloitte & Touche has issued an unmodified review conclusion, which is available on the Company’s
website.

Any investment decisions by investors and/or shareholders should be based on consideration of the full
announcement available on the Company’s website and SENS, the full announcement can be accessed using
the following links:
    .    company website (https://www.rhbophelo.co.za/investment/investors).
    .    JSE Link: https://senspdf.jse.co.za/documents/2020/jse/isse/RHBE/Year2020.pdf

The full announcement can be requested from the company secretary via an email (ragni@corporate-
vision.co.za).



On behalf of the Board
Quinton Zunga
CEO

Dion Mhlaba
CFO

Johannesburg
31 July 2020



 Registered Office                                     Transfer Secretaries
 3rd floor, 18 Melrose Boulevard                       Computershare Investor Services Proprietary Limited
 Melrose Arch, Melrose North
 Johannesburg, 2076
 South Africa

 Directors                                             Sponsor
 Q Zunga (Chief executive officer)                     Deloitte & Touche Sponsor Services Proprietary
 KD Mhlaba (Chief financial officer)                   Limited
 VP Nomvalo (Executive director)
 C Clarke (Executive director)
 Dr. SG Motuba (Lead independent non-executive
 Director)
 Dr. KR Ntshwana (Independent non-executive
 Director)
 JR Oliphant (Non-executive chairman)
 Dr. PD Sekete (Non-executive Director)
 D Lerutla (Independent non-executive Director)
 B Segooa (Independent non-executive Director)
 R Nkadimeng (Independent non-executive Director)

 Company Secretary
 Corporate Vision Consulting Proprietary Limited


 Auditors
 Deloitte & Touche

Date: 31-07-2020 05:46:00
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