Bell Equipment Limited (JSE:BEL) News - Provisional Audited Results for the year ended 31 December 2021

BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/013656/06)
Share code: BEL
ISIN: ZAE000028304
(“Bell Equipment” or “the Company”)

PROVISIONAL AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2021

INTRODUCTION

Bell Equipment is a Proudly South African and global company with more than 60 years of experience in the manufacture, distribution
and support of materials handling equipment. Our comprehensive network of Bell branches and independent dealers supplies equipment
solutions, ancillary products and after-sales services to the agriculture, forestry, waste handling, construction and mining
industries worldwide.

The content of this short form announcement is the responsibility of the board of directors of the Company.

Deloitte & Touche have issued an unmodified auditor’s report on the annual financial statements for the year ended 31 December 2021.
The audit report also includes communication of key audit matters. Key audit matters are those matters that, in their professional
judgement, were of most significance in their audit of the annual financial statements of the current period. The auditor’s report
and the annual financial statements are available on the Company’s website at www.bellir.co.za.

Shareholders are advised that this short form announcement represents a summary of the information contained in the full
announcement and does not contain full or complete details of the financial results.

Any investment decisions by investors and/or shareholders should be based on a consideration of the full announcement as a
whole and shareholders are encouraged to review the full announcement, which is available for viewing on the Company’s
website (www.bellir.co.za).

Link to financial results https://senspdf.jse.co.za/documents/2022/jse/isse/BEL/Final21.pdf

The full announcement is also available for inspection, at no charge, at the registered office of the Company, 13 - 19 Carbonode
Cell Road, Alton, Richards Bay, 3900 and at the offices of Bell Equipment Limited’s sponsor, Investec Bank Limited, 100 Grayston
Drive, Sandown, Sandton, during normal business hours from Monday, 28 March 2022. Investors and/or shareholders may request copies
of the full announcement from the Company Secretary (Diana.Mcilrath@bellequipment.com).

FINANCIAL AND OPERATING RESULTS
                                                                                     2021               2020              % change
                                                                                    R’000              R’000
Revenue                                                                         8 017 125          6 690 277                    20
Profit from operating activities                                                  403 722             35 618                 1 033
Profit (loss) for the year                                                        294 266            (57 159)                  615
Net cash inflow for the year                                                       81 639            176 319                   (54)
Earnings (loss) per share (basic)(cents)                                              300                (67)                  548
Headline earnings (loss) per share (basic)(cents)                                     294                (31)                1 048
Net asset value per share (cents)                                                   4 038              3 664                    10

DIVIDENDS
Notice is hereby given that the directors have declared a gross final cash dividend of 50 cents per ordinary share for the year ended
31 December 2021 payable to ordinary shareholders in accordance with the timetable below.

The net final dividend is 40 cents per share for ordinary shareholders who are not exempt from dividends tax. The dividend
withholding tax rate is 20 percent.

The dividend has been declared from income reserves.

The company’s income tax reference number is 9022169206.

The issued share capital at the declaration date is 95 629 385 ordinary shares.

The salient dates for the dividend will be as follows:
Last day of trade to receive a dividend                           Tuesday, 19 April 2022
Shares commence trading “ex” dividend                           Wednesday, 20 April 2022
Record date                                                        Friday, 22 April 2022
Payment date                                                       Monday, 25 April 2022

Share certificates may not be dematerialised or rematerialised between Wednesday, 20 April 2022, and Friday, 22 April 2022, both days
inclusive.

A shareholders’ presentation will be made available on the Company’s website.

On behalf of the board

Gary Bell                           Leon Goosen
Chairman                            Chief Executive

Richards Bay
28 March 2022

DIRECTORS
Non-executive
GW Bell (Chairman), HR van der Merwe* (Lead Independent), DH Lawrance*, ME Ramathe*, R Naidu*, AJ Bell
*Independent
HR van der Merwe was appointed as Lead Independent Director on 17 February 2022, replacing JR Barton who resigned as non-executive
director and Lead Independent Director on 16 February 2022.

Executive
L Goosen (Group Chief Executive), A Goordeen (Alternate), KJ van Haght (Group Finance Director)
Registered Office
13 - 19 Carbonode Cell Road, Alton, Richards Bay, 3900

Company Secretary
D McIlrath

Transfer Secretaries
JSE Investor Services Proprietary Limited
19 Ameshoff Street, Johannesburg, 2001

Sponsor
Investec Bank Limited
100 Grayston Drive, Sandown, Sandton, 2196

Auditors
Deloitte & Touche

www.bellir.co.za

Date: 28-03-2022 04:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.