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Unaudited interim results for the six months ended 30 June 2022

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Published: 2022-08-30 09:00:46 ET

                                                                          ISIN Number: ZAE000015277 | Share Code: BRT | ISIN Number: ZAE000015285 | Share Code: BRN | Company Registration Number: 1995/010442/06 (Incorporated in the Republic of South Africa)
                                                                                                                                                                                                                (“Brimstone” or “the Company” or “the Group”)




                         UNAUDITED INTERIM RESULTS
                         FOR THE SIX MONTHS ENDED 30 JUNE 2022
                         FINANCIAL OVERVIEW                                                                                                      INTRINSIC NET ASSET VALUE (INAV)
                                                                                                      RESTATED*                                  INAV at 30 June 2022 calculated on a line-by-line basis, totalled R2.66 billion, or R10.71 per share
                                                                             UNAUDITED               UNAUDITED                 AUDITED           (31 December 2021: R3.26 billion or R13.14 per share), representing a decrease of 18.4% from
                                                                                 FOR THE                FOR THE                FOR THE           2021 (a decrease of 18.5% on a per share basis). As at 30 June 2022, Brimstone Ordinary shares
                                                                             SIX MONTHS             SIX MONTHS                    YEAR
                                                                                  ENDED                  ENDED                   ENDED
                                                                                                                                                 were trading at a discount of 34.3% to INAV (31 December 2021: 52.1%) and “N” Ordinary shares
                         R’000                                               30 JUN 2022            30 JUN 2021             31 DEC 2021          traded at a discount of 44.0% to INAV (31 December 2021: 50.6%). The analysis of INAV is
                                                                                                                                                 available on the Company’s website at www.brimstone.co.za.
                         Revenue                                              2 857 910              2 298 784              5 054 739
                         – Continuing operations                              2 857 910              2 303 305              5 054 726            The INAV information presented in this report has been prepared on a basis consistent with that
                         – Discontinued operation                                    —                  (4 521)                    13            used in the Integrated Report for the year ended 31 December 2021.

                         Operating profit                                       279 349                290 328                711 951
                         – Continuing operations                                279 349                299 674                695 091            DIVIDEND
                         – Discontinued operation                                    —                  (9 346)                16 860
                                                                                                                                                 In line with the prior period, no interim dividend has been declared.
                         Earnings per share                                         10.3                   97.9                  292.3
                         – Continuing operations                                    10.3                  101.6                  229.3           F ROBERTSON                            MA BREY
                         – Discontinued operation                                     —                    (3.7)                  63.0           EXECUTIVE CHAIRMAN                     CHIEF EXECUTIVE OFFICER

                         Headline earnings per share                                10.1                  100.8                  298.9           30 August 2022
                         – Continuing operations                                    10.1                  104.5                  236.0
                         – Discontinued operation                                     —                    (3.7)                  62.9

                         Total assets                                        11 218 366              9 540 544             10 498 264
                                                                                                                                                 ABOUT THIS ANNOUNCEMENT
                                                                                                                                                 This short-form announcement is the responsibility of the directors of Brimstone Investment
                         *	Restatement due to disposal of subsidiary, Lion of Africa Insurance Company Limited, being classified as a           Corporation Limited. It is only a summary of the information in the unaudited interim results and does
                            discontinued operation.
                                                                                                                                                 not contain full or complete details. Any investment decisions by investors and/or shareholders should
                                                                                                                                                 be based on consideration of the unaudited interim results for the six months ended 30 June 2022
                         DIRECTORATE AND ADMINISTRATION                                                                                          published on the JSE at https://senspdf.jse.co.za/documents/2022/jse/isse/BRT/ie2022.pdf.
                         REGISTERED OFFICE: Boundary Terraces, 1 Mariendahl Lane, Newlands, 7700, Cape Town
                         TRANSFER SECRETARIES: Computershare Investor Services (Pty) Ltd, Rosebank Towers, 15 Biermann Avenue,                   It is also available for viewing at www.brimstone.co.za/investor-relations/results-reports/.
                         Rosebank, 2196 | SPONSOR: Nedbank Corporate and Investment Banking, a division of Nedbank Limited,                      Copies of the unaudited interim results may be requested from the company secretary
                         135 Rivonia Road, Sandton, 2196 | DIRECTORATE: F Robertson (Executive Chairman)*,
                                                                                                                                                 (tmoodley@brimstone.co.za or tel +27 (0) 21 683 1444).
                         MA Brey (Chief Executive Officer)*, GG Fortuin (Financial)*, MI Khan (Chief Operating Officer)*, T Moodley*,
                         PL Campher (Lead Independent), M Hewu, N Khan, KR Moloko, M Ndlovu, LA Parker, FD Roman, L Wort *Executive
                         COMPANY SECRETARY: T Moodley | WEBSITE: www.brimstone.co.za | E-MAIL: info@brimstone.co.za                              This announcement has not been audited or reviewed by the Group’s external auditors.



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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.