Page 211 - SHBe20.vp

Registration number 1968/006415/06
ISIN ZAE000026480 Share code REM

SUMMARY OF UNAUDITED RESULTS

FOR THE SIX MONTHS ENDED 31 DECEMBER 2019 AND CASH DIVIDEND DECLARATION

HEADLINE EARNINGS Share certificates may not be dematerialised or
rematerialised between Wednesday, 15 April 2020,
SALIENT HEADLINE EARNINGS OPTION REMEASUREMENT and Friday, 17 April 2020, both days inclusive.
PER SHARE, EXCLUDING
PER SHARE
FEATURES -0.2% +2.4% In terms of the Company’s Memorandum
of Incorporation, dividends will only be
to 750.9 cents to 750.7 cents transferred electronically to the bank accounts
of shareholders, while dividend cheques are no
INTRINSIC NET ASSET longer issued. In the instance where shareholders
EARNINGS VALUE PER SHARE INTERIM DIVIDEND do not provide the Transfer Secretaries with
PER SHARE AS AT 31 DECEMBER 2019 PER SHARE SUSTAINED their banking details, the dividend will not be
-57.9% R240.93 215 cents forfeited, but will be marked as “unclaimed” in
the share register until the shareholder provides
to 766.3 cents the Transfer Secretaries with the relevant banking
details for payout.
RESULTS DIRECTORS’ STATEMENT
INTRODUCTION The directors, who take responsibility for the
Shareholders are reminded that this report is based on the actual results for the six months ended contents of this short-form announcement,
31 December 2019. Therefore, this report does not reflect the current market conditions and must be read present the unaudited results of Remgro for
in that context. the six months ended 31 December 2019. The
preparation of the Group’s consolidated results
HEADLINE EARNINGS was supervised by the Chief Financial Officer,
For the period under review, headline earnings decreased by 0.4% from R4 259 million to R4 242 million, Neville Williams CA(SA).
while headline earnings per share (HEPS) decreased by 0.2% from 752.1 cents to 750.9 cents. This financial information is a summary only
Included in headline earnings for the period under review is a positive fair value adjustment amounting and does not contain full details of the financial
to R1 million (2018: R106 million), relating to the decrease in value of the bondholders’ exchange option results. Accordingly, any investment decisions
of the exchangeable bonds (option remeasurement). Excluding the option remeasurement, headline should be based on information contained
earnings increased by 2.1% from R4 153 million to R4 241 million, whereas HEPS increased by 2.4% from
733.4 cents to 750.7 cents. The increase in headline earnings, excluding option remeasurement, is mainly in the full announcement, which can be found
due to higher earnings from Mediclinic International plc, Siqalo Foods Proprietary Limited, the banking on SENS, or on the Company’s website at
platform and Total South Africa Proprietary Limited. The increase is partly offset by lower contributions from www.remgro.com.
Community Investment Ventures Holdings Proprietary Limited, Rand Merchant Investment Holdings Limited
and Grindrod Limited, as well as lower interest income. Signed on behalf of the Board of Directors.
INTRINSIC NET ASSET VALUE Johann Rupert Jannie Durand
Chairman
Chief Executive Officer
Remgro’s intrinsic net asset value per share increased by 3.4% from R233.03 at 30 June 2019 to R240.93 at
31 December 2019. The closing share price at 31 December 2019 was R195.00 (30 June 2019: R187.90) Stellenbosch
representing a discount of 19.1% (30 June 2019: 19.4%) to the intrinsic net asset value. 17 March 2020
DECLARATION OF CASH DIVIDEND NO. 39
Notice is hereby given that an interim gross dividend of 215 cents (2018: 215 cents) per share has been
declared out of income reserves in respect of both the ordinary shares of no par value and the unlisted
B ordinary shares of no par value, for the six months ended 31 December 2019. ACCESS TO INFORMATION
A dividend withholding tax of 20% or 43 cents per share will be applicable, resulting in a net dividend of The full interim financial results:
172 cents per share, unless the shareholder concerned is exempt from paying dividend withholding tax or is
entitled to a reduced rate in terms of an applicable double-tax agreement. • can be viewed on SENS;
The issued share capital at the declaration date is 529 217 007 ordinary shares and 39 056 987 B ordinary • can be viewed online at www.remgro.com;
shares. The income tax number of the Company is 9500-124-71-5. • are available for inspection at the Company’s
registered office and the offices of the sponsor
DATES OF IMPORTANCE at no charge, during normal business hours
Last day to trade in order to participate in the dividend Tuesday, 14 April 2020 from 18 March 2020; or
Shares trade ex dividend Wednesday, 15 April 2020 • may be requested in printed format from
Record date Friday, 17 April 2020 Ms D I Dreyer, tel: +27 21 888 3373.
Payment date Monday, 20 April 2020
CORPORATE INFORMATION DIRECTORATE
SECRETARY NON-EXECUTIVE DIRECTORS
D I Dreyer Johann Rupert (Chairman), J Malherbe (Deputy
LISTING Chairman), F Robertson* (Deputy Chairman),
JSE Limited/Sector: Financials – Financial Services – Speciality Finance S E N De Bruyn*, P K Harris*, N P Mageza*,
P J Moleketi*, M Morobe*, P J Neethling,
BUSINESS ADDRESS AND REGISTERED OFFICE G G Nieuwoudt*, K M S Rantloane* (Alternate),
Millennia Park, 16 Stellentia Avenue, Stellenbosch 7600 (PO Box 456, Stellenbosch 7599) A E Rupert (* Independent)
TRANSFER SECRETARIES EXECUTIVE DIRECTORS
Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank
2196 (PO Box 61051, Marshalltown 2107) J J Durand (Chief Executive Officer),
M Lubbe, N J Williams
AUDITORS
PricewaterhouseCoopers Inc. Stellenbosch
SPONSOR For more information: www.remgro.com
Rand Merchant Bank (A division of FirstRand Bank Limited)
Remgro_Interim_Advert_ENG_2020_JSE_Hanbook_13163_V1_20200419_SA_15h00.indd 1 2020/04/19 16:31