01 Jun - 4 min read

SHORT-FORM ANNOUNCEMENT OF THE SUMMARY ABRIDGED FINANCIAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2021

SHORT-FORM ANNOUNCEMENT OF THE SUMMARY ABRIDGED FINANCIAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2021

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 SUMMARY ABRIDGED FINANCIAL RESULTS FOR THE YEAR
ENDED 28 FEBRUARY 2021


The Board of Directors ("the Board") of the Company is pleased to present the summary abridged results for
the year ended 28 February 2021.

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

  •   Net asset value increased by 34% year on year, from a balance of R647 million to R863 million;
  •   Investment income increased by 79% year on year, from R105 million to R188 million;
  •   Total income before tax increased by 84% year on year, from R90 million to R166 million;
  •   Total income after tax increased by 87% year on year, from R70 million to R131 million;
  •   Basic earnings per share and headline earnings per share increased by 67% year on year from 131
      cents to 218 cents;
  •   Net asset value per share increased by 15%, current year R13,35 compared to prior year R11,56;
  •   The Company and its investments remain liquid and solvent, with sufficient resources to continue
      operating into the foreseeable future; and
  •   The board approved and declared a final gross dividend of 15 ZAR cents per “A” ordinary share from
      income reserves for the year ended 28 February 2021 (2020: 0 ZAR cents per share).


                                                                            Feb-21            Feb-20
                                                                                 R                 R
Total investment income                                              188 834 745         105 386 661
Other income                                                               430 411         1 984 110
Total expenses                                                       (22 747 356)       (16 912 042)
Total income before tax                                              166 517 800          90 458 729
Income tax                                                           (35 300 586)       (20 469 771)
Total income after tax                                               131 217 214          69 988 958


Earnings per share (cents)
Basic headline and earnings per share (cents)                                  218               131
WANOS                                                                    60 316 801       53 592 090

Note: There are no dilutive instruments in issue

Net Asset Value                                                          863 454 165   646 608 844
Cash and cash equivalents                                                 34 699 084   120 069 140
Number of shares in issue                                                 64 699 423    55 934 179


Net asset value per share (R)                                                  13,35         11,56
Dividend declaration:


The board approved and declared a final gross dividend of 15 ZAR cents per “A” ordinary share from
income reserves for the year ended 28 February 2021 (2020: 0 ZAR cents per share).

The dividend is subject to a South African dividend withholding tax (DWT) rate of 20%, unless the
shareholder is exempt from paying dividends tax or is entitled to a reduced rate in terms of the applicable
double-tax agreement. Including DWT results in a net dividend of 12 ZAR cents (2020: 0 ZAR cents) per
share. The number of issued ordinary shares is 64 699 423 at the date of this declaration. RHB’s income
tax reference number is 9729/758/160.



The salient dates of the dividend declaration are:

       Declaration date                       Monday, 31 May 2021

       Last day to trade cum dividend         Tuesday, 20 July 2021

       Trading ex-dividend commences          Wednesday, 21 July 2021

       Record date                            Friday, 23 July 2021

       Date of payment                        Monday, 26 July 2021



As the dividend has been declared and denominated in Rand, it will be paid (in Rand) into the bank
accounts of shareholders appearing on the Computershare Investor Services Proprietary Limited register.

Share certificates may not be dematerialised or rematerialised between Wednesday, 21 July 2021 and
Friday, 23 July 2021, both days inclusive.



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 May 2021 and does not contain full
 or complete details.

 This announcement is itself not independently reviewed but extracted from independently audited results, on
 which Mazars has issued an unmodified audit opinion, 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, the independent
 auditor’s report containing key audit matters and the audited financial statements can be accessed using
 the following links:
     •    Company website (https://www.rhbophelo.co.za/investment/investors).
     •    JSE Link: https://senspdf.jse.co.za/documents/2021/jse/isse/RHBE/Year2021.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 May 2021

Registered Office                                 Transfer Secretaries
1st floor Unit 12, 1 Melrose Boulevard            Computershare Investor Services Proprietary Limited
Melrose Arch, Johannesburg, 2191
South Africa
+27 10 007 2171

Directors                                         JSE 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)                     Rwanda Sponsor
Dr. SG Motuba (Lead independent non-executive     FAIDA Securities
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)

Company Secretary
Corporate Vision Consulting Proprietary Limited


Auditors
Mazars

Date: 01-06-2021 07:05:00
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