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ATTACQ LIMITED - Consolidated financial results for the year ended 30 June 2021

Release Date: 14/09/2021 08:20
Code(s): ATT     PDF:  
Wrap Text
Consolidated financial results for the year ended 30 June 2021

ATTACQ LIMITED
Incorporated in the Republic of South Africa
Registration number 1997/000543/06
JSE share code: ATT ISIN: ZAE000177218
(Approved as a REIT by the JSE)
(Attacq or company or group)


SHORT-FORM ANNOUNCEMENT: CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 30 JUNE 2021



     1.   Group distributable income per share declined by 35.9% (2020: declined by 10.5%)
     2.   Distributable income from South African operations increased by 22.5% (2020: decreased by 25.9%)
     3.   Capital recycled of R2.8 billion (2020: R265.5 million)
     4.   Group gearing decreased to 43.3% (2020: 45.7%)
     5.   South African real estate portfolio rental collection rate of 101.5% (2020: 92.5%)
     6.   Five buildings (2020: eight buildings) completed in Waterfall City

FINANCIAL PERFORMANCE
                                                                                       Restated
                                                            30 June 2021           30 June 2020              % change
 Distributable income per share             cents                   46.8                   73.0*                (35.9)
 Total assets                               R’000             22 589 172             24 552 729                  (8.0)
 Net asset value per share                  cents                  1 575                  1 645                  (4.3)
 Gross revenue                              R’000              2 390 241              2 192 386                   9.0
 Profit (loss) per share                    cents                   21.9                 (535.4)               (104.1)
 Headline earnings (loss) per share         cents                  121.4                  (69.5)               (274.7)

*previously reported as 73.1 cents and subsequently updated in accordance with the SA REIT Association Best Practice Recommendation
Second Edition adopted by Attacq for its year ended 30 June 2021

This short-form announcement is the responsibility of the directors and the contents were approved by the board on
13 September 2021. This short-form announcement is a summary of the full announcement released on SENS and
published on 14 September 2021 and does not include full or complete details. The short-form announcement has not
been audited or reviewed by the company's external auditors. The full announcement is available on the company's
website at www.attacq.co.za/investor-hub and can be accessed using the following JSE link:

https://senspdf.jse.co.za/documents/2021/jse/isse/ATT/2021FYRES.pdf

The group has restated its prior year annual financial statements. For more information, refer to the full announcement.

The auditor, Ernst & Young Inc, has issued an unmodified opinion on Attacq's audited consolidated annual financial
statements for the year ended 30 June 2021. The following key audit matter was considered as part of their audit:
valuation of investment property, including completed developments, developments under construction and leasehold
land.

The full announcement is available for inspection at the registered offices of the company or its sponsor, at no charge,
during office hours from Tuesday, 14 September 2021 to Tuesday, 21 September 2021. Copies of the full announcement
may be requested via email from brenda@attacq.co.za or sponsor@javacapital.co.za. Any investment decision should
be based on the full announcement available on the company’s website.

DIVIDEND
The board of directors has resolved not to pay a dividend for the current financial year.

By order of the board

Attacq Limited

14 September 2021

Independent non-executive directors
P Tredoux (chairperson)
HR El Haimer (lead independent)
TP Leeuw (appointed 10 February 2021)
IN Mkhari
BT Nagle (retired on 27 November 2020)
S Shaw-Taylor
AE Swiegers (appointed 14 January 2021)
JHP van der Merwe

Executive directors
JR van Niekerk (CEO, appointed 1 May 2021)
M Hamman (CEO, resigned 30 April 2021)
R Nana (CFO)

Company secretary
A Matwa

Registered office
ATT House, 2nd Floor, Maxwell Office Park, 37 Magwa Crescent, Waterfall City, 2090

Postal address
PostNet suite 016, Private Bag X81, Halfway House, 1685

Transfer secretaries
Computershare Investor Services Proprietary Limited

Sponsor
Java Capital

Independent auditors
Ernst & Young Inc

Date: 14-09-2021 08:20:00
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