Sabvest Capital Limited (JSE:SBP) News - Click below to view full PDF article https://senspdf.jse.co.za/documents/2022/jse/isse/sbpe/Int22.pdf Salient features of the unaudited results for the six months ended 30 June 2022 and cash dividend declaration SABVEST CAPITAL LIMITED Incorporated in the Republic of South Africa Registration number 2020/030059/06 “Sabcap” or “the group” or “the company” ISIN: ZAE000283511 JSE share code: SBP SALIENT FEATURES OF THE UNAUDITED RESULTS for the six months ended 30 June 2022 and cash dividend declaration PROFILE Sabvest Capital Limited (Sabcap) is an investment group first listed on the JSE in 1988 as Sabvest Limited and as Sabcap from 2020. The Seabrooke Family Trust (SFT) has voting control of Sabcap through an unlisted Z share and has an economic interest of 40,5% through its holding in the listed ordinary shares. At the period end Sabcap had 39 470 000 shares in issue net of treasury shares (31 Dec 2021: 39 530 000). Sabcap has long-term interests in twelve unlisted and three listed investments, all accounted for on a fair value basis. Sabcap’s primary focus is on industrial and service businesses, usually unlisted and co-invested with family, management or financial partners in terms of Sabcap’s Partnership Principle. Sabcap also makes finance advances and holds listed debt, equity and cash portfolios when it has surplus liquidity, and undertakes other fee and profit earning activities from time to time. RESULTS % % increase increase 30 June 30 June 2022 2022 compared compared Unaudited Unaudited to to 6 months 6 months 31 December 30 June to to 2021 2021 30 June 30 June – 6 months – 12 months 2022 2021 Net asset value per share – cents 10,9 26,1 10 388 8 240 Shareholders’ funds – R’m 10,7 23,8 4 100,3 3 311,8 Gross assets – R’m 11,1 24,1 4 741,6 3 820,1 Dividends per share – cents 50,0 30 20 Profit after taxation – R’m 23,3 394,4 320,6 Headline earnings per share – cents 26,2 1 001,3 793,2 Earnings per share – cents 26,2 1 001,1 793,2 RESULTS (continued) Audited 12 months to 31 December 2021 Net asset value per share – cents 9 371 Shareholders’ funds – R’m 3 704,3 Gross assets – R’m 4 265,2 Dividends per share – cents 75 Profit after taxation – R’m 679,2 Headline earnings per share – cents 1 689,7 Earnings per share – cents 1 689,6 GROWTH METRICS Sabcap’s primary financial metric is growth in NAV per share. This is measured annually and growth rates over different periods are included in the year-end results. The 15-year compounded annual growth rate in NAV per share to the 2021 year-end was 16,9%, calculated without re-investing dividends. The compounded annual growth rate in NAV per share over 15 years with dividends reinvested was 18,6%*. The 15-year compound annual growth rate in the share price was 16,0%^. * Calculated with dividends notionally not paid and the amounts notionally retained by the Company growing at 10% per annum. ^ Calculated with reference to the weighted average share prices of the Sabvest ordinary and ‘N’ ordinary shares. INVESTMENT HOLDINGS PER SECTOR as at 30 June 2022 Number of Economic Fair Listed/ ordinary interest value Unlisted shares/units % R’000 INDUSTRIAL AND SERVICES Apex Partners Holdings (Pty) Ltd U 44,8 443 460 ARB Holdings (Pty) Ltd U 18,5 207 869 Classic Food Brands (Pty) Ltd U 40,0 9 428 DNI-4PL Contracts (Pty) Ltd U 19,1 1 014 452 Flexo Line Products (Pty) Ltd U 47,5 66 197 Halewood International South Africa (Pty) Ltd U 19,0 116 539 ITL Holdings Group U 34,4 768 778 Metrofile Holdings Limited L 56 000 000 12,9 184 800 Rolfes Holdings (Pty) Ltd U 25,1 228 883 SA Bias Industries (Pty) Ltd U 85,2 885 134 Sunspray Food Ingredients (Pty) Ltd U 27,7 77 978 4 003 518 MINING AND AGRICULTURE Masimong Group Holdings (Pty) Ltd U 10,0 365 885 365 885 SPECIALISED FINANCIAL AND TECHNOLOGY Corero Network Security Plc L 50 000 000 10,1 106 868 Revix Group U 11,0 – Transaction Capital Limited L 5 000 000 0,7 183 550 290 418 Non-current investment holdings 4 659 821 CURRENT INVESTMENTS Capital Group New Perspective Fund (LUX – Equity) L 146 685 43 430 43 430 TOTAL HOLDINGS 4 703 251 PROSPECTS Sabcap is comfortable with the current performance and future prospects of its investees and in particular of the new investments concluded during the period. Accordingly, Sabcap expects continued satisfactory growth for the remainder of the 2022 financial year. CASH DIVIDEND DECLARATION Notice is hereby given that an interim dividend of 30 cents (2021: 20 cents) per ordinary share for the six months ended 30 June 2022 has been declared out of income reserves. The issued share capital of the Company at the declaration date is 39 550 000 ordinary shares. The income tax number of the Company is 9660061186. Withholding tax on dividends at a rate of 20% will be deducted for all shareholders who are not exempt in terms of the applicable legislation. This will result in a net cash dividend of 24 cents per ordinary share to non-exempt shareholders. Last date to trade “CUM” dividend Tuesday, 30 August 2022 Trading “EX” dividend commences Wednesday, 31 August 2022 Record date Friday, 2 September 2022 Dividend payment date Monday, 5 September 2022 No dematerialisation or rematerialisation of share certificates will be allowed during the period Wednesday, 31 August 2022 to Friday, 2 September 2022, both days inclusive. Sandton 10 August 2022 The above announcement is a summary of information in the full announcement and does not contain full or complete details and is the responsibility of the directors. Any investment decisions by investors and/or shareholders should be based on the full announcement which is available on https://senspdf.jse.co.za/documents/2022/JSE/ISSE/SBPE/Int22.pdf and published on the company’s website on http://www.sabvestcapital.com/pdf/2022/IntRes22.pdf on 10 August 2022. The full announcement is also available at Sabvest’s registered office and the offices of the sponsor at no charge, between 8:30 and 17:00, Monday to Friday. SABVEST CAPITAL LIMITED REGISTERED ADDRESS: 4 Commerce Square, 39 Rivonia Road, Sandhurst, Sandton 2196 COMMUNICATIONS: Postal address: PO Box 78677, Sandton 2146, Republic of South Africa Telephone: (011) 268 2400 Fax: (011) 268 2422 e-mail: ho@sabvest.com TRANSFER SECRETARIES: Computershare Investor Services (Pty) Ltd, Rosebank Towers, 15 Biermann Avenue, Rosebank 2196 (Private Bag X9000, Saxonwold 2132) DIRECTORS: K Pillay # (Chairperson), BJT Shongwe # (Deputy Chairperson and Lead Independent Director), CS Seabrooke * (Chief Executive), K De Matteis *, O Ighodaro #, L Mthimunye #, L Rood * *Executive #Independent SPONSOR: Rand Merchant Bank (A division of FirstRand Bank Limited), 1 Merchant Place, Corner of Fredman Drive and Rivonia Road, Sandton 2196 COMPANY SECRETARY: Levitt Kirson Business Services (Pty) Ltd www.sabvestcapital.com Date: 10-08-2022 01:45:00 Produced by the JSE SENS Department. 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