For the six months ended 31 August 2017 – Short form announcement
SALIENT FEATURES
• Successfully listed on 12 July 2017 on the JSE
• Raised R500 million in equity
• Classified as a SPAC
• RHB has not as yet acquired a viable asset and therefore, any income earned is not indicative of the company’s future prospects
• Finance income of R6,6 million earned
• Net profit of R5,6 million reported
• Transaction expenses of R12,4 million incurred as part of the listing
• Earnings and headline earnings per share at 0.408 Cents
• Net asset value per share of R9,86
• No dividend declared
FINANCIAL OVERVIEW
The Company posted a net income for the first half of the 2018 financial year of R5,6 million. The income is attributable to the finance income earned on the R500 million less all permissible expenses. The transaction costs of R12,4 million were offset against the share capital in terms of IAS 32.
The leadership team has set the following short-term priorities:
1. Building a strong brand
2. Acquisition of operational healthcare assets
3. Ownership of assets across all provinces
4. Extracting synergies, driving growth and realising earnings across our assets base
5. Utilising our talent pool to manage our assets
6. Provide our shareholders outsized returns and an opportunity to invest in a future market leader
7. Enhance the company’s operational and turnaround capacity
8. Leading in healthcare technology
The management team believes that these priorities will hold the Company in good stead as we work together to develop our longer-term strategy over the next few months. The team looks forward to sharing this strategy with the release of the year-end results. This short form announcement is the responsibility of the directors and is only a summary of the information contained in the full announcement; it does not contain full or complete details. The full announcement was released on SENS on 21 November 2017 and is also available on our website at www.rhbophelo.co.za. Copies of the full announcement may be requested from the company’s registered office and the offices of the sponsor during office hours at no cost. The contact details are below. Copies are also available for inspection at the registered office of the company and the offices of the sponsor. Any investment decision should be based on the contents of the full announcement published on SENS and our website.
On behalf of the Board,
John Oliphant (Chairman and former Principal Executive Officer of the GEPF)
Quinton Zunga (Chief Executive Officer)
Dion Mhlaba (Chief Financial Officer)
Directors
Q Zunga (Chief Executive Officer)
KD Mhlaba (Chief Financial Officer)
VP Nomvalo (Executive Director)
MP Mehlape (Chief Operating Officer)
Dr. SG Motuba (Lead Independent Non-executive Director)
Dr. KR Ntshwana (Independent Non-executive Director)
JR Oliphant (Non-executive Chairman)
Dr. PD Sekete (Non-executive Director)
Secretary:
Corporate Vision Consulting
Proprietary Limited
(Registration number 2015/006536/07)
3 Decotah, Canart Street, Kyalami Hills, Johannesburg, 1684
Transfer secretaries:
Computershare Investor Services
Proprietary Limited
(Registration number 2004/003647/07)
Rosebank Towers, 15 Biermann Ave, Rosebank, Johannesburg, 2196
Sponsor:
Deloitte & Touche Sponsor Services (Pty) Ltd.
Building 8, Deloitte Place, The Woodlands, 20 Woodlands Drive, Woodmead, Sandton, 2196
