RH BOPHELO LIMITEDD
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
  • net asset value per share increased by 12%, year on year, from R10,34 to R11,56;
  • 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 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 (R)   646 608 844    530 119 886   
Cash and cash equivalents (R)   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:

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     Company Secretary
3rd Floor, 18 Melrose Boulevard   Corporate Vision Consulting Proprietary Limited 
Melrose Arch, Melrose North  
Johannesburg, 2076  
South Africa  
     
Directors   Auditors
Q Zunga (Chief executive officer)   Deloitte & Touche
KD Mhlaba (Chief financial officer)  
VP Nomvalo (Executive director)  
C Clarke (Executive director)    
Dr SG Motuba (Lead independent non-executive Director)   Transfer Secretaries
Dr KR Ntshwana (Independent non-executive Director)   Computershare Investor Services Proprietary Limited  
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)
  Sponsor
Deloitte & Touche Sponsor Services Proprietary Limited