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Short form announcement of the unaudited financial results for the six months ended 31 August 2024
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 UNAUDITED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2024
SUSTAINABLE INVESTMENT PORTFOLIO AND NET ASSET VALUE GROWTH
RHB has sustained the growth in Net Asset Value ("NAV") stemming from year-end results and produced
notable results for the six months ended August 2024. With a growth in both the investment portfolio and net
asset value at 5% (2023: 9%) and 18% (2023: 2%) respectively, the Company continues to see progress on
the expansion of its strategy.
During the interim period, the Company through RH Bophelo Operating Company Proprietary Limited ("RHBO")
made the following material investments:
• Founded Renal Healthcare Africa Proprietary Limited ("Renal Healthcare Africa") in conjunction with
Renocare South Africa Proprietary Limited ("Renocare SA"). RHBO owns 51% of the joint venture. During
the current period, RHBO's equity contribution amounted to R8,3 million. Renal Healthcare Africa
provides dialysis services.
• Deployed capital to the value of R3,5 million to RazoHealth Radiology Proprietary Limited ("Razohealth")
for the opening of the first radiology practice.
FINANCIAL OVERVIEW
The key financial indicators reflected in these financial results are as follows:
• Investment income decrease year-on-year due to lower interest income on the back of lower cash
balances and lower fair value gains;
• Decrease in expenses due to lower finance costs;
• Basic earnings per share and headline earnings per share increased by 4% from 28,52 cents in prior
period to 29,63 cents per share;
• Net asset value, net asset value per share and tangible net asset value per share increased by 18%
from R890 million to R1 054 million and R13,76 to R16,29 respectively;
• No dividend declared in the current period, prior period R20 million; and
• The Company and its investments remain liquid and solvent, with sufficient resources to continue
operating into the foreseeable future.
Aug-24 Aug-23
Unaudited Unaudited
R R
Gains from financial assets at fair value through profit
or loss 38 487 649 45 193 471
Interest income 4 390 482 8 122 453
Dividend income 9 400 000 2 844 498
Other income 195 504 411 000
Total expenses (25 253 915) (30 586 564)
Total income before tax 27 219 720 25 984 858
Income tax (8 050 220) (7 535 667)
Total income after tax 19 169 500 18 449 191
Earnings per share
Basic and diluted earnings per share (cents) 29,63 28,52
Diluted and headline earnings per share (cents) 29,63 28,52
"A" ordinary dividend per share (cents) - 31
Weighted average number of shares 64 691 298 64 691 298
Net asset value (R) 1 053 502 955 890 192 895
Cash and cash equivalents (R) 30 427 013 111 126 064
Number of shares in issue 64 691 298 64 691 298
Net asset value per share and tangible net asset value
per share (R) 16,29 13,76
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 26 November 2024 and does not contain
full or complete details.
Any investment decision 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 link:
JSE link: https://senspdf.jse.co.za/documents/2024/jse/isse/RHBE/Half2025.pdf
The full announcement can be requested from the company secretary (BoardSupport@statucor.co.za) and is
also available for inspection at the Company's registered office during office hours.
On behalf of the Board
Quinton Zunga Yondie Metu
CEO CFO
Johannesburg
26 November 2024
Registered Office Transfer Secretaries
Unit 12 Computershare Investor Services Proprietary Limited
1 Melrose Boulevard (Registration number 2004/003647/07)
Melrose Arch Rosebank Towers
Melrose North 15 Biermann Ave
Johannesburg Rosebank
2076 Johannesburg
South Africa 2196
Tel: 010 007 2171 South Africa
Email: invest@rhbophelo.co.za
Sponsor South Africa
Directors Deloitte & Touche Sponsor Services Proprietary Limited
Q Zunga (Chief Executive Officer) (Registration number 1996/000034/07)
AY Metu (Chief Financial Officer) 5 Magwa Crescent
CW Clarke (Chief Investment Officer) Waterfall City
S Moraba (Independent Non-Executive Chairman) Johannesburg
Dr PD Sekete (Non-Executive Director) Gauteng
B Segooa (Independent Non-Executive Director) 2090
F Makwetla (Non-Executive Director) South Africa
R Makhubela (Independent Non-Executive Director)
Sponsor Rwanda
Company Secretary Faida Securities Rwanda Limited
Statucor Consulting Proprietary Limited (Registration number 101856301)
(Registration number 1989/005394/07) Centenary House
Building 5 4th-Floor
Summit Place 124
221 Garsfontein Road Kigali
Menlyn Rwanda
Pretoria
0181
South Africa
Auditors
Forvis Mazars
54 Glenhove Road
Melrose Estate
Johannesburg
Gauteng
2196
South Africa
Date: 26-11-2024 12:00:00
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