Page 195 - SHB 2021 Issue 4

SUMMARY OF
AUDITED RESULTS
Registration number 1968/006415/06
ISIN ZAE000026480 Share code REM For the year ended 30 June 2021 and cash dividend declaration
SALIENT FEATURES Headline earnings 510.6 cents 510.6 cents
per share from Total headline
earnings per share
continuing operations UP BY 66.0% DOWN BY 8.9%
628.3 cents Intrinsic net asset
Earnings Total ordinary 90 cents value per share as at R177.33
per share DOWN BY 46.6% dividend per share 30 June 2021
Introduction The total gross dividend per share for the year ended 30 June 2021 therefore
The Covid-19 pandemic and resultant containment measures have caused amounts to 90 cents, compared to 265 cents for the year ended 30 June 2020.
immeasurable harm globally, but these hardships have also provided The final dividend of 2020, as well as the interim and final dividends of 2021,
individuals, companies and organisations with the opportunity to reflect were adjusted downwards to take into account the RMH Unbundling during
and to reset where necessary. While the ramifications of the pandemic the prior year and the ongoing impact of the Covid-19 pandemic.
will still be felt for a long time, Remgro is encouraged by its improved The issued share capital at the declaration date is 529 217 007 ordinary
performance compared to the previous financial year. shares and 39 056 987 B ordinary shares. The income tax number of the
Results Company is 9500-124-71-5.
During June 2020, Remgro unbundled its 28.2% interest in RMB Holdings Dates of importance
Limited (RMH) (RMH Unbundling) and, consequently, the investment
in RMH was treated as a discontinued operation for the year ended Last day to trade in order to
30 June 2020. For the year under review, earnings and headline earnings participate in the dividend Tuesday, 16 November 2021
measures are again presented for continuing operations and discontinued Shares trade ex dividend Wednesday, 17 November 2021
operations and, accordingly, discontinued operations for the prior year Record date Friday, 19 November 2021
include the equity accounted income of RMH. Payment date Monday, 22 November 2021
For the year under review, headline earnings from continuing operations
increased by 66.1% from R1 737 million to R2 885 million, while headline Share certificates may not be dematerialised or rematerialised between
earnings per share (HEPS) from continuing operations increased by Wednesday, 17 November 2021, and Friday, 19 November 2021, both days
66.0% from 307.5 cents to 510.6 cents. Total headline earnings and total inclusive.
HEPS decreased by 8.9% from R3 167 million to R2 885 million and from In terms of the Company’s Memorandum of Incorporation, dividends will
560.6 cents to 510.6 cents, respectively. only be transferred electronically to the bank accounts of shareholders. In
The headline earnings from continuing operations for the comparative the instance where shareholders do not provide the Transfer Secretaries
year were significantly impacted, during the second six months to with their banking details, the dividend will not be forfeited but will be
30 June 2020, by the Covid-19 pandemic and the resultant lockdown marked as “unclaimed” in the share register until the shareholder provides
measures, as well as by a once-off donation of R500 million to The South the Transfer Secretaries with the relevant banking details for payout.
African SME Relief Trust. From this low base, the increase in headline
earnings from continuing operations for the year under review is mainly Directors’ statement
due to the recovery of the earnings of most of Remgro’s underlying The directors, who take responsibility for the contents of this short-form
investee companies (most notably RCL Foods Limited, Distell Group announcement, present the audited results of Remgro for the year ended
Holdings Limited, TotalEnergies Marketing South Africa Proprietary 30 June 2021. The preparation of the Group’s consolidated results was
Limited and Rand Merchant Investment Holdings Limited). This increase supervised by the Chief Financial Officer, Neville Williams CA(SA).
is partly offset by a lower contribution from Mediclinic International plc
(Mediclinic) (Mediclinic’s contribution includes the full impact of the The financial information in this short-form announcement is a summary
Covid-19-related lockdown measures on its results for the year ended only and does not contain full details of the consolidated financial results.
31 March 2021), as well as lower interest income, due to the 300 basis Accordingly, any investment decisions should be based on information
points reduction in interest rates since January 2020. Furthermore, due contained in the full announcement, which can be found on SENS, or on
to the accounting reclassification of FirstRand Limited (FirstRand) from the Company’s website at www.remgro.com.
an equity accounted investment to an investment at fair value through The consolidated Annual Financial Statements (AFS) were audited by
other comprehensive income, only dividend income of R191 million was PricewaterhouseCoopers Inc., who issued an unmodified audit opinion on
accounted from FirstRand for the year under review, whereas earnings of the consolidated AFS. The consolidated AFS, which includes the auditor’s
R657 million were equity accounted in the comparative year. report (with Key Audit Matters) issued on the consolidated AFS, are
Intrinsic net asset value available on the Company’s website at www.remgro.com.
Remgro’s intrinsic net asset value per share increased by 14.8% from Basis of preparation of financial information
R154.47 at 30 June 2020 to R177.33 at 30 June 2021. The closing share These results have been prepared in accordance with paragraph 3.46 of
price at 30 June 2021 was R114.60 (2020: R99.90) representing a discount the Listings Requirements of the JSE Limited, which has been applied
of 35.4% (2020: 35.3%) to the intrinsic net asset value. consistently to both years.
Declaration of cash dividend no. 42 The Integrated Annual Report will be mailed to those shareholders who
Notice is hereby given that a final gross dividend of 60 cents (2020: requested to receive a hard copy and will be available on the website
50 cents) per share has been declared out of income reserves in respect of during October 2021.
both the ordinary shares of no par value and the unlisted B ordinary shares Signed on behalf of the Board of Directors.
of no par value, for the year ended 30 June 2021.
Johann Rupert Jannie Durand
A dividend withholding tax of 20% or 12 cents per share will be applicable,
resulting in a net dividend of 48 cents per share, unless the shareholder Chairman Chief Executive Officer
concerned is exempt from paying dividend withholding tax or is entitled to a Stellenbosch
reduced rate in terms of an applicable double-tax agreement. 21 September 2021
Directorate Transfer Secretaries
Non-executive directors Computershare Investor Services Proprietary Limited
Johann Rupert (Chairman), F Robertson* (Deputy Chairman), S E N De Bruyn*, Rosebank Towers, 15 Biermann Avenue, Rosebank 2196
N P Mageza*, J Malherbe, P J Moleketi*, M Morobe*, P J Neethling, (Private Bag X9000, Saxonwold 2132)
G G Nieuwoudt*, K M S Rantloane*, A E Rupert
(* Independent) Auditors
PricewaterhouseCoopers Inc.
Executive directors Stellenbosch, South Africa
J J Durand (Chief Executive Officer), M Lubbe, N J Williams Sponsor
Corporate information Rand Merchant Bank (A division of FirstRand Bank Limited)
Secretary
D I Dreyer Access to information
Listing The financial results:
JSE Limited • can be viewed on SENS;
Sector: Financials – Financial Services – Investment Banking and Brokerage • can be viewed online at www.remgro.com;
Services – Diversified Financial Services • are available for inspection at the Company’s registered office and the
Business address and registered office offices of the sponsor at no charge, during normal business hours from
Millennia Park, 16 Stellentia Avenue, Stellenbosch 7600 22 September 2021; or
(PO Box 456, Stellenbosch 7599) • may be requested in printed format from Ms D I Dreyer, tel: +27 21 888 3373.
For more information: www.remgro.com
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