Enhanced Investments - Financial Portal

Trading Statement

Buy African Equity Empowerment Investments Stocks

Published: 2023-06-12 16:30:35 ET

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1996/006093/06)
Share Code: AEE
ISIN ZAE000195731
(“AEEI” or “the Company”)


TRADING STATEMENT


In accordance with paragraph 3.4(b) of the Listings Requirements of JSE Limited, a listed company is
required to publish a trading statement as soon as it is reasonably certain that the financial results for
the financial period to be reported on next will differ by at least 20% from those of the prior
comparative period.

Shareholders are advised that the Company’s loss-making technology division, AYO Technology
Solutions Limited (“AYO”), will be classified as a discontinued operation which will result in the
reclassification of prior year comparatives to exclude AYO’s results, which will be detailed in the
financial results for the six months ended 28 February 2023.

Accordingly, a review by management of the financial results for the six months ended 28 February
2023 has indicated that AEEI expects to report:

    -   a basic loss per share for the six months ending 28 February 2023 of between (32.07) and
        (36.81) cents per share, reflecting an increase in basic loss per share of between (35.25%) and
        (55.25%), compared to a basic loss per share of (23.71) cents reported for the six months
        ended 28 February 2022.

    -   a basic loss per share of continuing operations for the six months ending 28 February 2023 of
        between (28.20) and (28.22) cents per share, compared to the basic loss per share of
        continuing operations of (0.08) cents for the six months ended 28 February 2022.

    -   a basic loss per share of discontinued operations for the six months ending 28 February 2023
        of between (3.87) and (8.59) cents per share, reflecting a decrease in loss per share of
        between (83.64%) and (63.64%), compared to a basic loss per share of discontinued
        operations of (23.63) cents for the six months ended 28 February 2022.

AEEI also expects to report:

    -   a headline loss per share for the six months ended 28 February 2023 of between (33.08) and
        (35.90) cents per share, compared to a headline loss per share of (14.06) cents per share
        reported for the six months ended 28 February 2022.

    -   a headline loss per share of continuing operations for the six months ended 28 February 2023
        of between (28.11) and (28.31) cents per share, compared to the headline loss per share of
        continuing operations of (1.00) cents per share for the six months ended 28 February 2022.

    -   a headline loss per share for discontinued operations for the six months ended 28 February
        2023 of between (4.97) and (7.59) cents per share, reflecting a decrease in headline loss per
       share of between (61.91%) and (41.91%), compared to the headline loss per share of
       continuing operations of (13.06) cents per share for the six months ended 28 February 2022.

The increase in loss per share and headline loss per share compared to the previous corresponding
period is primarily as a result of the impairment of our investment in a telecommunications
multinational company to a recoverable amount of R773 million from a value of R978 million for the
six months period ended 28 February 2023.

The financial information on which this trading statement is based has not been reviewed or reported
on by AEEI’s auditors.

The Company’s financial results for the six months ended 28 February 2023 are expected to be
released on SENS on or about 13 June 2023.

Cape Town
12 June 2023

Joint Sponsor
Vunani Sponsors

Joint Sponsor
Merchantec Capital

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.