Summarised Audited Consolidated Financial Results for the Nine-Months ended 31 March 2020 and Notice of AGM
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
Debt Issuer Code: ECSD
Hybrid Issuer Code: ECSH
(“the Company” or “Ecsponent” or “the Group”)
SUMMARISED AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE NINE-MONTHS ENDED
31 MARCH 2020 AND NOTICE OF AGM
The board of directors of Ecsponent (“Board”) presents the summarised audited consolidated results of
Ecsponent and its subsidiaries (“the Group”) for the nine-months ended 31 March 2020.
Key financial metrics of the Group’s results for the nine-month’s ended 31 March 2020 are set out below,
together with the information for the previous comparative period, being the 12 months ended 30 June
• Total assets decreased by 53% to R1.51 billion compared to R3.17 billion;
• Losses per share ("LPS") increased from 23.66 cents per share to LPS of 187.16 cents per share;
• Headline losses per share (“HLPS”) increased from 12.64 cents per share to HLPS of 186.50 cents per
• Net interest income increased by 1 200% to R17.42 million compared to R1.34 million;
• Credit impairments increased by 1 557% to R356.28 million compared to a prior year reversal of
R24.46 million; and
• Fair value losses increased by 6 570% to a loss of R1.70 billion compared to a fair value gain of
No ordinary dividends have been declared in the current or previous periods and no ordinary dividend is
AUDIT REPORT AND KEY AUDIT MATTERS
The financial statements from which these results were extracted were audited by Nexia SAB&T Inc. and
their unqualified opinion is included within these financial statements. The auditor’s report includes the
description of a material uncertainty in relation to the Company’s ability to continue as a going concern and
three key audit matters, the details of which can be found in the financial statements.
This short-form announcement is the responsibility of the Board and is only a summary of the information
contained in the full announcement published on SENS on 31 August 2020 (“Full Announcement”) and
does not contain full or complete details. Any investment decision by investors and/or shareholders of
Ecsponent should be based on consideration of the Full Announcement.
The Full Announcement is available for downloaded via:
• https://senspdf.jse.co.za/documents/2020/jse/isse/ecs/FYE2020.pdf; or
• the Group’s website at https://www.ecsponentlimited.com/investor-relations/#sensnews.
NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that the sixteenth annual general meeting (“AGM”) of the members of Ecsponent will
be held entirely via remote interactive electronic platform (Zoom) on Friday, 16 October 2020 at 09:00.
The following dates apply to the AGM:
Record date to determine shareholders eligible to receive the AGM notice Friday, 21 August 2020
Last date to trade in order to be eligible to attend and vote at the AGM Tuesday, 6 October 2020
Record date to determine the shareholders entitled to attend, speak and
vote at the AGM Friday, 9 October 2020
Shareholders wishing to participate electronically in the AGM are required to deliver written notice to the
transfer secretaries, Computershare Investor Services (Pty) Ltd, at Rosebank Towers, 15 Biermann Avenue,
Rosebank, 2196, South Africa or P.O. Box 61051, Marshalltown, 2107 or Proxy@computershare.co.za or
Investor.firstname.lastname@example.org by no later than 08:30 on Tuesday, 13 October 2020.
1. In the event that a shareholder lodges a form of proxy with the transfer secretaries less than 48 hours (excluding
Saturdays, Sundays and official public holidays) before the AGM, such shareholder may submit a form of proxy at any
time before the commencement of the AGM (or any adjournment of the AGM) or present it to the chairman of the
AGM before the appointed proxy exercises any of the relevant shareholder’s rights at the AGM (or any adjournment
of the AGM).
2. If the AGM is adjourned or postponed, forms of proxy submitted for the initial AGM will remain valid in respect of any
adjournment or postponement of the AGM.
For more information about this announcement or the Group, email
email@example.com or visit www.ecsponentlimited.com/investor-relations.
31 August 2020
Sponsor to Ecsponent
Questco Corporate Advisory (Pty) Ltd
Date: 01-09-2020 07:05:00
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